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Week 21/ January 15 to January 19

January  16 2018

Essential Question:

SSEMA1 The student will illustrate the means by which economic activity is measured.

b. Define Gross Domestic Product (GDP), economic growth, unemployment, Consumer Price Index (CPI), inflation, stagflation, and aggregate supply and aggregate demand.

c. Explain how economic growth, inflation, and unemployment are calculated.

d. Identify structural, cyclical, and frictional unemployment.

EQ: How is unemployment utilized to measure economic growth?

Activator:

Students will take a prequiz on unemployment. CLICK HERE

Teaching Strategies: 

Unemployment Review Neapod OFNTK

Based on quiz results, students will be be put into groups to complete two activities.  One is a review that asks students to self identify whether specific individuals are unemployed or not.  The second is a number of basic unemployment concepts.  Both activities are avaliable under Unit 5 Microeconomics entitled Unemployment Practice and Unemployment in Cottonstalk.

Students who need practice with basic concepts will have to complete a separate handout.  Handout found under Unit 5 Macroeconomics entitled The Unemployment Problem.

Practice CLICK HERE

Problem CLICK HERE

Summarizer:

Students will take the same quiz they took as a prequiz.

 

January 18 2018

Essential Question:

SSEMA1 The student will illustrate the means by which economic activity is measured.

b. Define Gross Domestic Product (GDP), economic growth, unemployment, Consumer Price Index (CPI), inflation, stagflation, and aggregate supply and aggregate demand.

c. Explain how economic growth, inflation, and unemployment are calculated.

d. Identify structural, cyclical, and frictional unemployment.

EQ:  How is unemployment utilized to measure economic growth?

Activator:

As a class students will decide whether several individuals are unemployed.  Avaliable under Unit 5 Macroeconomics entitled types of unemployment.

Types of Unemployment CLICK HERE

Teaching Strategies: 

Summarizer:

Review concepts for quiz.  Students will take quiz on unemployment.

Go over quiz, if time

 

January 19 2018

 

Essential Question:

SSEMA1 The student will illustrate the means by which economic activity is measured.

b. Define Gross Domestic Product (GDP), economic growth, unemployment, Consumer Price Index (CPI), inflation, stagflation, and aggregate supply and aggregate demand.

c. Explain how economic growth, inflation, and unemployment are calculated.

SSEPF3 The student will explain how changes in monetary and fiscal policy can have an impact on an individual’s spending and saving choices.

Give examples of who benefits and who loses from inflation. 

How and why do we measure and evaluate economic activity?

Activator:

Classnotes: (will take 2 days to write)

Price stability is a key goal in macroeconomics.  To understand if we are achieving price stability, we must measure inflation.  Inflation is defined as a general rise in prices.

To calculate inflation we use the Consumer Price Index which is a market basket of items that the typical urban consumer purchases in a month.  Each month, economists calculate how much this basket costs and compares the price from one month to another.  If the index price rises, we are experiencing inflation.

 

Causes of Inflation include:

Demand-Pull Inflation:  Occurs when there is a shift of the AD curve.  Demand “pulls up” prices. Essentially occurs when there are too many dollars chasing too few products and supply has not caught up.

Cost-Push Inflation:  Occurs when input costs for producers rise.  This reduces AS, leading to higher prices and lower real GDP.  Higher prices and lower real GDP is a situation known as STAGFLATION.

Quantity Theory of Money:  Too much money circulating in the economy causes inflation.

 

Students will be provided with the study guide for this unit.  They will be asked to examine and determine how much we have gone over, and how much we have left.

Teaching Strategies: 

Students will be introduced to inflation and the types of inflation.  Terms developed and learned include inflation, deflation, stagflation, cost push inflation, demand pull inflation, and the quantity theory of money.

Students will then watch a video explaining inflation: https://www.youtube.com/watch?v=UMAELCrJxt0

Presentation is available under Unit 5 Folder entitled Inflation Presentation.  Students will also be provided with a graphic organizer entitled All About Inflation Graphic Organizer.

Presentation CLICK HERE

Graphic Organizer CLICK HERE

Summarizer:

Socrative Exit Ticket

 

 

January 20 2018

 

Essential Question:

SSEMA1 The student will illustrate the means by which economic activity is measured.

b. Define Gross Domestic Product (GDP), economic growth, unemployment, Consumer Price Index (CPI), inflation, stagflation, and aggregate supply and aggregate demand.

c. Explain how economic growth, inflation, and unemployment are calculated.

SSEPF3 The student will explain how changes in monetary and fiscal policy can have an impact on an individual’s spending and saving choices.

Give examples of who benefits and who loses from inflation. 

How and why do we measure and evaluate economic activity?

Activator:

What is inflation?  What is deflation?  What is cost push inflation, and what causes it?

Teaching Strategies: 

Students will be introduced to calculating inflation.  They will learn the concepts of Consumer Price Index and how these calculations are developed.

Presentation is available under Unit 5 Folder entitled Inflation Presentation. Students will also be provided with a graphic organizer entitled All About Inflation Graphic Organizer.  Students will work through practice questions.  Questions available under Unit 5 Macroeconomics entitled Inflation Practice.

Presentation CLICK HERE

Practice CLICK HERE

Summarizer:

Socrative covering inflation

 

--------------

January 23 2018

Essential Question:

SSEMA1 The student will illustrate the means by which economic activity is measured.

b. Define Gross Domestic Product (GDP), economic growth, unemployment, Consumer Price Index (CPI), inflation, stagflation, and aggregate supply and aggregate demand.

c. Explain how economic growth, inflation, and unemployment are calculated.

SSEPF3 The student will explain how changes in monetary and fiscal policy can have an impact on an individual’s spending and saving choices.

Give examples of who benefits and who loses from inflation. 

How and why do we measure and evaluate economic activity?

Activator:

Classnotes:

Inflation can help some groups and hurt others.  Inflation helps borrowers at a fixed interest rate, and people who have raises over the rate of inflation, because they have no decline in purchasing power.  Inflation hurts lenders and a savers at a fixed interest rate.  Also hurts people who have a fixed income.

 

CPI practice question.  CPI in 2004 is 120.  CPI in 2005 is 140.  What is the rate of inflation?

Teaching Strategies: 

Students will learn about the concept of being helped or hurt by inflation.  Students will be provided with a graphic organizer and listen to a number of scenarios.  These scenarios will be read out loud and students will determine if the individual is helped or hurt by inflation.  Graphic organizer is under Unit 5 Macroeconomics entitled Inflation situations.  Students will also be provided with direct notes entitled hurt or helped by inflation to wrap up lesson.

Inflation Situations CLICK HERE

Inflation Scenarios CLICK HERE

Inflation Helped or Hurt CLICK HERE

Summarizer:

Helped or Hurt Socrative Exit

 

January 24 2018

Essential Question:

All Macroeconomic Standards and EQs apply.  Test Day.

Activator:

Final Questions before review?

Teaching Strategies: 

Students will be guided through a Nearpod that covers all aspects of Macroeconomics.  Study Guide is available under Unit 5 Macroeconomics entitled Macroeconomics Indicators study Guide.

Study Guide CLICK HERE

Summarizer:

What final Questions do you have?

 

 

January 25 2018 (Then Starts Budget)

Essential Question:

All Macroeconomic Standards and EQs apply.  Test Day.

Activator:

Final Questions?

Teaching Strategies: 

Students will take test on Unit 5 Macroeconomics.

Summarizer:

None: Test Day

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