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1. What key statistics are used to determine economic policy?
2. What are the key components of Gross Domestic Product and how are they influenced by government policy?
3. What are the economic goals of our nation?
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Student Learning Map
- Topic:Fundamentals of Macroeconomics
- Subject(s):Social Studies
- Days:20
- Grade(s):12
Key Learning:
The government plays a major role in the health of our economy.
Unit Essential Question(s):
Lesson Essential Question(s):What four categories of economic activity are used to measure GDP? (A)Why is inflation a problem and how is it measured? (A)Why is inflation a problem and how is it measured? (ET)Why does the national debt continue to increase and how may it impact the economy? (ET)Lesson Essential Question(s):What are the three functions of money? (A)What events may trigger business fluctuations? (ET)How did the Great Depression lead to the founding of macroeconomics? (ET)How does the Federal Reserve utilize monetary policy to impact the economy? (A)Lesson Essential Question(s):What is the difference between money and near moneys? (ET)How has technology changed banking services? (ET)How does the Federal Reserve utilize monetary policy to impact the economy? (ET)How does the government\'s taxation policy influence personal financial choices? (ET)How and under which circumstances does the government use fiscal policy to influence the economy? (ET)How does unemployment negatively impact the nation\'s economy? (ET)Vocabulary:gross domestic product, net exports, depreciation, net domestic product, transfer payments, disposable personal income, inflation, deflation, consumer price index, producer price index, real GDP, aggregate demand, aggregate supply, business cycle, peak, boom, contraction, recession, depression, trough, expansion, recovery, economic indicators, demand-pull inflation, stagflation, cost-push inflation
Vocabulary:money, medium of exchange, barter, store of value, fiat money, legal tender, electronic funds transfer, automated teller machine, demand deposits/checkable deposits, M1, M2, Fed, monetary policy, loose monetary policy, tight monetary policy, fractional reserve banking, reserve requirements, discount rate, prime rate, federal funds rate, open market operations
Additional Info:
Textbook: Economics Today and Tomorrow, Chapters 13,14,15,16, and 17 as well as related ancillary materials.
Resources:
