SS10.E.9

Social Studies (2010) Grade(s): 12 - Economics

SS10.E.9
Describe methods used to measure overall economic activity, including the Gross Domestic Product (GDP), the Consumer Price Index (CPI), inflation, and unemployment.

Unpacked Content

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.

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

Aligned Learning Resources

People's Pie

Macroeconomics: Crash Course Economics #5

Productivity and Growth: Crash Course Economics #6

Design by Adaptive Theme