Lesson plans and classroom resources aligned to the Economics curriculum.
Last Updated: May 5, 2011
- Effects of the Recession
The students learn how a recession affects our economy, and how it might affect them personally.They examine the role the federal government has played in dealing with the current recession. They analyze their thoughts about what role the federal government should play in dealing with a recession.
- Focus on Economic Data: U.S. Real GDP Growth
This lesson focuses on the November 23, 2010, second estimate of U.S. real gross domestic product (real GDP) growth for the third quarter (Q3) of 2010, as reported by the U.S. Bureau of Economic Analysis (BEA). The current GDP data and historical data are explained. The meaning of GDP and potential impacts of changes of GDP are explored. This lesson will also raise questions about the impact of the current level of growth on the U.S. economy and individuals.
- How Much Does It Cost Now?
Students will use the FRED database to download the Consumer Price Index (CPI) and calculate the equivalent price of a product from an earlier time to the relative price today. Students will discuss the limits of using a weighted index and changes in the quality of products when calculating the relative prices of goods from two time periods.
- Inflation and Unemployment
This lesson goes beyond the data and terminology of measuring inflation and unemployment to look at the impact on the economy and on individuals of changes in the levels of prices and employment. By acknowledging the continuity of change, focusing on how change redefines winners and losers in the economy, and by pointing out that things are not always what they seem, lessons on employment and inflation can demonstrate how economics education adds value to people’s lives and helps them know mo
Series of lessons, notes, interactive activities from reffonomics.com
- Unemployment Game
Students will learn about important labor market statistics that are frequently discussed in the media. An understanding of the unemployment rate and labor force participation rate will be developed through participation in an interactive simulation game.
- What Do You Get for Your $1,818,600,000,000?
Your task is to find, select, organize, and present data related to federal government income and expenditures. You will look through the tables on the National Income and Product Accounts website and find data that is relevant to federal government functions. Using your knowledge of economics and national income accounting to decide what data is relevant to include, how that data can be organized graphically, and consider what opinions could be supported using the data you've gathered.
- What Is Unemployment, How Is It Measures, and Why Does the Fed Care?
In this lesson, students read and interpret choropleth maps, which contain unemployment data. They
compare verbal descriptions of the labor market from the Federal Reserve’s Beige Book with the mapped
data. In addition, students compare unemployment data for different years. Students access or observe
how to access this data online.