1. Economics Learning Steps 2/11/15

2. Complete SSEMA1 Business Cycles Post Quiz & SSEMA1 Unemployment Pre. Quiz

3. Standards & Elements SSEMA1: The student will illustrate the means by which economic activity is measured. Elements: a. Explain that overall levels of income, employment, and prices are determined by the spending and production decisions of households, businesses, government, and net exports. 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. e. Define the stages of the business cycle, include peak, contraction, trough, recovery, expansion as well as recession and depression. f. Describe the difference between the national debt and government deficits.

4. Enduring Understandings Students will understand that unemployment imposes cost on individuals and nations and unexpected inflation imposes cost on many people and benefits others because it arbitrarily redistributes purchasing power.

5. Essential Questions PP13 1. What are the different types of unemployment? 2. How are unemployment rates determined? 3. What is full employment? 4. What are the effects of rising prices? 5. How do economists use price indexes? 6. How is the inflation rate calculated? 7. What are the causes and effects of inflation? 8. Who is poor, according to government standards? 9. What causes poverty? 10. How is income distributed in the United States? 11. What government programs are intended to combat poverty?

6. Team Study “All About Employment ” Show & Tell CPS Clicker Review Ticket-Out-The Door Class Activities