Economic Indicators for Informed Citizens

Slides:

Advertisements

Similar presentations

Unit 3 Macroeconomics.

Advertisements

Economic Measurements How GDP, GDP per capita, and labor productivity measure economic performance.

SSEMA 1, 2.3. What is Macroeconomics? The study of the performance of our economy as a whole.

Macroeconomics unit What you should know by now. You should be able to : Define the following: Gross Domestic Product (GDP) & the 4 components Unemployment.

The first four chapters laid the foundation for economic study. The concepts are needed in both microeconomic and macroeconomic disciplines as well as.

CHAPTER 2 © 2006 Prentice Hall Business Publishing Macroeconomics, 4/e Olivier Blanchard A Tour of the Book Prepared by: Fernando Quijano and Yvonn Quijano.

Appendix to Chapter 1 Defining Aggregate Output, Income, the Price Level, and the Inflation Rate.

Know that Name Factors of What??? MY EconoMY Inflation or Bust.

Macroeconomic Variables Adapted from: © 2006 Prentice Hall Business Publishing Macroeconomics, 4/e Olivier Blanchard.

Unit A Business in a Changing World Section 1.04 Economic Indicators and the Business Cycle.

Chapter 23.2 Measuring the Economy.

 What is inflation? --a general upward movement in price of goods and services in an economy  What is deflation? --a general downward movement in.

1. The Business Cycle The business cycle refers to the ups and downs of the economy.

Macroeconomics Building Blocks for Understanding.

Economic Ups & Downs Activity Test Review. What is real gross domestic product? O Total market value of all final goods and services produced within the.

Do Now: What do you already know about GDP?.  Gross Domestic Product (GDP)  What is it?

Moving from Microeconomics to Macroeconomics. Our textbook defines microeconomics as the area of economics that deals with behavior and decision making.

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

 A piece of economic data (statistic)  indicates the direction of an economy.

The Business Cycle Measuring the Economy. Business Cycle  Business Cycle - Economic pattern in which an economy goes through periods of prosperity and.

Economic Indicators. Gross Domestic Product GDP per Capita.

Economic Goals 1 economic freedom 2 economic efficiency 3 economic equity 4 economic security 5 economic stability 6 economic growth.

© 2006 Prentice Hall Business Publishing The Economic Way of Thinking, 11/e Heyne/Boettke/Prychitko “The Economic Way of Thinking” 11 th Edition Chapter.

 Bond  Budget deficit  Budget surplus  Business cycle  Capital project  Deflation  Depression  Gross domestic product  Retail sales  stock 

Section 4.2 Understanding the Economy.  The goals of an economy  The various measurements used to analyze an economy  The four phases of the business.

SESSION 8: MACROECONOMIC INDICATORS: GDP, CPI, AND THE UNEMPLOYMENT RATE Talking Points Macroeconomic Indicators: GDP, CPI, and the Unemployment Rate 1.

Economics Measuring the Economy. Gross Domestic Product Gross Domestic Product is a measure of the size of the economy. It is the total value, in dollars,

Review #1 1.) In year 1, the cost of a market basket of goods was $760. In year 2, the cost of the same basket was $800. What was the consumer price index.

Basic Economic Concepts.  The most basic measure of production is called the Gross Domestic Product (GDP)  There are two ways to measure it: 1.The income.

Gross Domestic Product Definition of Gross Domestic Product Why are Changes in Real Gross Domestic Product Important? Explanations of GDP and its Components.

WARM UP #9 What does it mean for an event to be cyclical? What are some examples? What do they all have in common? When you go to the doctor, what are.

Introduction to Business Mrs. A. Measuring Economic Activity Economic indicators Economic indicators – important data or statistics that measure economic.

ECONOMIC MISERY AND PRESIDENTIAL ELECTIONS 0. Some Key Economic Indicators Indicators – Unemployment Rate: The percentage of people in the labor force.

3.03Explain economic measurements and the business (economic) cycle.

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

How do we measure the health of our economy?

Measuring the health of the market

Understand the role of business in the global economy

Economic Indicators.

GDP and the Overall Health of the Economy

Opening Question Based on our past discussions of taxation, and the information provided in yesterday’s documentary, what do you believe is the role of.

Why Study Financial Markets?

Signs of Economic Growth or Decline

13-2 GDP And Changes In The Price Level P.P

Economic Indicators.

How do we measure the health of our economy?

ECONOMIC MISERY AND PRESIDENTIAL ELECTIONS

How do we measure the health of our economy?

Economic Performance.

Four Indicators that tell us how the economy is doing

Business cycle and economic measures

Economics Measuring the Economy

Introduction to Economics Johnstown High School Mr. Cox

Four Indicators that tell us how the economy is doing

Macroeconomic Questions

ECONOMIC MEASUREMENTS Unit 2, Part 2

GDP and the Economy Vocabulary Coach Lott.

Week 6 Vocabulary Review

Macroeconomics Economic Indicators.

How do we measure the health of our economy?

Correcting Statistics for Inflation

FIGURE 11.1 GDP and the Circular Flow

Measures of Growth: GDP, the business cycle, and inflation

How do we measure the health of our economy?

Measuring economies: GDP & fiscal policy

Four Indicators that tell us how the economy is doing

Economic Indicators A piece of economic data, that is used by investors to interpret current or future investment possibilities and judge the overall health.

GDP: Measuring the National Economy

Measuring the Economy.

Presentation transcript:

Economic Indicators for Informed Citizens Focus: Understanding Economics in Civics & Government

What information do we use to measure our health? What are Kramer’s symptoms? Based on the symptoms, what is the doctor’s diagnosis? Seinfeld: http://youtu.be/wXeV5cqb_3Y

US also has Vital Statistics These vital statistics can be thought of as: Macroeconomic Indicators - These indicators help in diagnosing the health of the economy.

How do we measure the Health of the United States? Economic Indicators: Inflation Unemployment Gross Domestic Product 3 Vital Signs of the U.S. Economy

Inflation Rate This indicator measures how rapidly the overall price level is changing in the U.S. economy.

Consumer Price Index (CPI) Reflects changes in the prices paid by consumers for a representative group of goods and services.

Purchasing Power the value of a currency expressed in terms of the amount of goods or services that one unit of money can buy.

Unemployment Rate This indicator measures the percentage of the U.S. labor force that wishes to work, but are currently without jobs.

Gross Domestic Product (GDP) This indicator measures the dollar value of all final goods and services produced within a country’s borders in a given year.

Real Gross Domestic Product (Real GDP) This indicator measures the dollar value of all final goods and services produced within a country’s borders in a given year and adjusts for price changes (i.e., inflation or deflation).

Business Cycle The business cycle is the fluctuation in economic activity that an economy experiences over a period of time. Basically defined in terms of periods of expansion or recession.