ALEX Classroom Resource

  

Macroeconomics: Crash Course Economics #5

  Classroom Resource Information  

Title:

Macroeconomics: Crash Course Economics #5

URL:

https://www.youtube.com/watch?v=d8uTB5XorBw&list=PL8dPuuaLjXtPNZwz5_o_5uirJ8gQXnhEO&index=6

Content Source:

Other
YouTube
Type: Audio/Video

Overview:

This week, Adriene and Jacob teach you about macroeconomics. This is the stuff of big picture economics and the major movers in the economy--taxes, monetary policy, inflation, and policy. We need this stuff because if you don't have a big picture of the economy, crashes and panic are more likely. Of course, economics is extremely complex and unpredictable. Today we'll talk about GDP as a measure of a country's economic health, the basics of economic analysis, and even a little about full employment and unemployment.

Content Standard(s):
Social Studies
SS2010 (2010)
Grade: 12
Economics
9 ) Describe methods used to measure overall economic activity, including the Gross Domestic Product (GDP), the Consumer Price Index (CPI), inflation, and unemployment.

•  Explaining how overall levels of income, employment, and prices are determined by spending decisions of households, businesses, and government; net exports in the short run; and production decisions of firms and technology in the long run
•  Identifying structural, cyclical, and frictional unemployment
•  Describing stages of the business cycle and how employment and inflation change during those stages
Unpacked Content
Strand: Economics, Civics and Government
Course Title: Economics
Evidence Of Student Attainment:
Students:
  • Determine the portion of the business cycle represented by certain economic indicators.
  • Identify examples of each type of unemployment.
  • Calculate the unemployment rate.
  • Calculate inflation using the CPI.
Teacher Vocabulary:
  • GDP
  • CPI
  • cost-push inflation
  • demand-pull inflation
  • hyperinflation
  • unemployment rate
  • Bureau of Labor Statistics
  • cyclical unemployment
  • frictional unemployment
  • structural unemployment
  • full employment
  • recession
  • expansion
  • peak
  • trough
Knowledge:
Students know:
  • The basic economic indicators: GDP, CPI and unemployment.
  • The parts of the business cycle.
  • The characteristics of each part of the business cycle.
  • The different types of inflation.
  • The different types of unemployment.
  • The types of unemployment included in full employment.
Skills:
Students are able to:
  • Determine the portion of the business cycle represented by certain economic indicators.
  • Identify examples of each type of unemployment.
  • Calculate the unemployment rate.
  • Calculate the inflation rate using the CPI.
Understanding:
Students understand that:
  • Each of the basic economic indicators change for specific reasons.
  • There are specific causes of the different types of inflation.
  • There are causes of each type of unemployment.
  • There are specific reasons that economic activity changes over time.

Alabama Alternate Achievement Standards
AAS Standard:
SS.E.AAS.12.9- Identify ways the economy is measured and activities associated with a strong economy.
SS.E.AAS.12.9a - Calculate the unemployment rate.


Tags: economic, GDP, Gross Domestic Product, macroeconomics, monetary policy, taxes
License Type: Custom Permission Type
See Terms: https://www.youtube.com/static?template=terms
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AccessibilityVideo resources: includes closed captioning or subtitles
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  This resource provided by:  
Author: Ginger Boyd