Download Economic Misery and Presidential Elections

Texas council on Economic
Education
 1801
Allen Parkway
 Houston, TX 77019
 713.655.1650
 www.economicstexas.org
How Do You Get These Materials?
www.economicstexas.org
February 1, 2011 Elementary at Houston Children’s Museum
February 2, 2011 Secondary at the Federal Reserve Bank
June 2011 Dallas PFL and SMG
June or August 2011 FTE: Economics and Environment
San Antonio
Government:
5d. Understand how government taxation and regulation can serve as
restrictions to private enterprise.
6b. Understand the roles of the executive and legislative branches in
setting international trade and fiscal policies.
High School U.S. History
16A Identify the causes of the Great Depression, including the impact
of tariffs on worldwide trade, stock market speculation, bank failures
and monetary policy of the Free Enterprise System.
If a presidential election were held tomorrow, what
would be three issues of concern for you that would
impact your vote?
1.
2.
3.
Ask a person who is at least 18 years of age the following question:
Please indicate the three issues that are most important to you as you
decide who will get your vote in a U. S. presidential election.
1.
2.
3.
Due Date; ________________________________________________
1.
What are the common answers?
2. What do you think about the answers?
3. How many are economic answers?
What do the indicators indicate about the
economy?
Economic Indicators
Unemployment Rate
Inflation rate
Growth rate in per
capita GDP
Statistics Based on
Indicators
Misery Index
Visual
8.1rate in real GDP
Growth
Unemployment rate: the percentage of people in the
labor force who are unemployed.
2. Inflation rate: The percentage increase in the overall
price level.
3. Real GDP: the value of all final goods and services
produced in a country in a year, expressed in terms of
constant dollars.
1.
1.
Misery Index: The sum of the unemployment rate
and the inflation rate.
2. Real Per Capita GDP Growth Rate: The percentage
change in real GDP per person
Think, Pair, Share
1. 1. What do you see on the chart?
2. 2. What year since 1957 has the unemployment
rate been the highest?
3. 3. What year had the highest inflation rate?
4. What year had the highest Misery Index?
Did the incumbent win?
Did the “in office” party win?
Predict who you think will win based on the data on
Activity 8.2.
Write two or more rules that demonstrated how to
apply the data
Share your rules and evaluate them.
Review the “rules” on 8.2 and 8.3.
Which of these rules serve as a strong predictor?
Which ones do not?
Do economics play a role in
presidential elections?
Do you believe the data we have studied shows that
economic conditions impact presidential
elections?
Is it fair to blame or give credit to the incumbent ?