Using Infographics to Visualize Macroeconomic Concepts and Data: The AD/AS Model

Standards and Benchmarks: National Standards for Economic Education Content Standard 15: Economic Growth Students will understand that investment in factories, machinery, and new technology and in the health, education, and training of people stimulates economic growth and can raise future standards of living. Students will be able to use this knowledge to predict the consequences of investment decisions made by individuals, businesses, and governments. Grade 12 Benchmarks: Identify the factors that contributed to economic growth. Content Standard 18: Economic Fluctuations Students will understand that fluctuations in a nation’s overall levels of income, employment, and prices are determined by the interaction of spending and production decisions made by all households, firms, government agencies, and others in the economy. Grade 8 Benchmarks: Explain what GDP is and how it can be used to describe a country’s economic output over time, comparing total output from year to year.

Standards and Benchmarks: Common Core High School Language Arts — Social Studies Writing Standards Text Types and Purposes CCSS.ELA-Literacy.WHST Write informative, explanatory texts such as a narration of historical events, scientific procedures/experiments, or technical processes. CCSS.ELA-Literacy.WHST a CCSS.ELA-Literacy.WHST a Introduce a topic and organize complex ideas, concepts, and information so that each new element builds on the preceding element to create a unified whole. Use formatting (e.g., to distinguish headings), graphics (e.g., charts and tables), and multimedia when useful to aiding comprehension.

Objectives Students will: Define key terms such as aggregate demand, short-run aggregate supply, price level, and real gross domestic product. Explain the AD-AS (aggregate demand-aggregrate supply) model and factors affecting the model. Analyze an infographic and discuss key elements used to communicate ideas. Illustrate key ideas about the AD-AS model in the form of an infographic.

Reviewing the Model

Organize by the following categories. I am a component of or can be illustrated on the graph of the AD–AS model. I am a determinant of aggregate demand. I am a determinant of short-run aggregate supply.

Organize by the following categories. I am a component of the graph of the AD-AS model. Aggregate demand Short-run aggregate supply Long-run aggregate supply Price level Real gross domestic product Y I am a determinant of aggregate demand. Δ Consumption Δ Investment Δ Government spending Δ Net exports I am a determinant of short- run aggregate supply. Δ Price of inputs Δ Productivity Δ Legal-institutional environment Δ Quantity of productive resources

Which do you find easier to follow?

What is an infographic? Infographics are visual representations of ideas and data designed to instruct or inform an audience about complex topics. Infographics can -Simplify complex ideas. -Transform a mundane topic into a captivating one. -Make multiple data points understandable at a glance. -Connect cognitively and emotionally at the same time.

Designing Your Infographic: Title Block

Piktochart Tools for the Title Block

Designing Your Infographic: Body Block One

Piktochart Tools for Body Block One

Take data from something like this…

And this…

And make this…

Piktochart Tools for Graphs

The Rubric Refer to Handout #3 to identify the assessment criteria for your infographic.

Concept List Refer to Handout #2 to find key concepts related to aggregate supply and aggregate demand.

Data Sources… Refer to Handout #5 to find links to national data you can use to create charts or graphs for your infographic.

Assignment Work in groups of three or work alone if you prefer. Each group needs at least one computer. Register for Piktochart. (If you plan to split up the work, be sure your log-in information can be shared with all group members.) Spend 5–10 minutes discussing the topic and elements of the infographic. Split up the work on each block. Each person should work on his or her block under a different file name so work is not lost when saving. Work will stop at noon for lunch. You will download the work and save it on a class USB drive for sharing after lunch.

Time to get started!