Survey
* Your assessment is very important for improving the workof artificial intelligence, which forms the content of this project
* Your assessment is very important for improving the workof artificial intelligence, which forms the content of this project
Economic democracy wikipedia , lookup
Monetary policy wikipedia , lookup
Nominal rigidity wikipedia , lookup
Edmund Phelps wikipedia , lookup
Transformation in economics wikipedia , lookup
Inflation targeting wikipedia , lookup
Business cycle wikipedia , lookup
Phillips curve wikipedia , lookup
Unit II Assignment Guide Measurement of Economic Performance: Unemployment, Inflation, & GDP Chapters 6, 7, & 8 Wed. 1/27 (Periods 1 & 3) & Thurs. 1/28 (Period 2) 1. Discussion: “Unemployment” Objectives and Key Terms—You must be able to: 1) Define labor force and labor force participation rate. 2) Define unemployment and explain the issues in measuring unemployment. 3) Identify and distinguish between a discouraged worker and an underemployed worker. 4) Define and distinguish between frictional unemployment, structural unemployment, cyclical unemployment, and seasonal unemployment. 5) Explain full employment. 2. Macro PS #2 (due Wed. 2/10) 3. Hand back and discuss Unit I Test Mon. 2/1 1. Continue Discussion: “Unemployment” 2. Activities --Measuring Broad Economic Goals (Unemployment) --Types of Unemployment Tues. 2/2-Thurs. 2/4 1. Simulation: Auction and Lima Beans (Tues. 2/2) 2. Discussion: “Inflation” Objectives and Key Terms—You must be able to: 1) Define and distinguish between inflation and deflation. 2) Define and distinguish between nominal income and real income. 3) Define hyperinflation. 4) Define and compute the Consumer Price Index (CPI). 5) Demonstrate how to change the base year of a price index. 6) Define the inflation rate. 7) Define and apply the Producer Price Index (PPI). 8) Explain the difference between real GDP and nominal GDP. 9) Define price stability. 10) Define anticipated versus unanticipated inflation. 11) Identify the impact and consequences of inflation. 12) Distinguish between Demand-Pull and Cost-Push Inflation. 13) Define and distinguish between the nominal and real interest rate. 3. Simulation: The Trial of Ms. Ann Flation (Wed. 2/3) 4. Video: Inflation in Brazil (Thurs. 2/4) 5. Activities --Price Indexes --Who Is Hurt and Who Is Helped by Unanticipated Inflation Fri. 2/5 1. Discussion: “The Business Cycle” Objectives and Key Terms—You must be able to: 1) Define macroeconomics. 2) Define and describe the phases of the business cycle. 3) Distinguish between Classical Economic Theory and Keynesian Economic Theory. 4) Define Say’s Law. 5) Define recession. 6) Recognize the trade-offs between macroeconomic goals. 2. Video (Economics USA): Booms and Busts & Business and Growth Mon. 2/8 1. Holiday Tues. 2/9 – Wed. 2/10 1. Discussion: “An Introduction to Aggregate Demand and Aggregate Supply” Objectives and Key Terms—You must be able to: 1) Define aggregate demand. 2) Explain why the aggregate demand curve is downward sloping. 3) Define aggregate supply. 4) Explain why the aggregate supply curve is upward sloping. 5) Define macro equilibrium. 6) Define full-employment GDP. 7) Identify and explain the competing theories for achieving macro stability. 2. Activity --Test Your Understanding of Macroeconomic Indicators 3. Turn in Macro PS#2 (Wed. 2/10) Thurs. 2/11 1. Turn in and discuss Macro PS#2 2. Test Review and Practice Fri. 2/12 1. Unit II Test (Multiple Choice & Free-Response)