ECONOMICS
TUESDAY
FOR THE WEEK STARTING 5/2/16
5/3
DAY 2
READING: PGS. 308-314, 323-330
CLASS: EI- GDP and Economic Growth
ACT: EI #1=GDP WS
CLASS OBJECTIVES:
1) DEFINE AND IDENTIFY THE COMPONENTS OF GDP.
2) DISTINQUISH BETWEEN INCOME AND EXPENDITURE
APPROACH TO DETERMINE GDP.
3) IDENTIFY THE DIFFERENT COMPONENTS OF THE
BUSINESS CYCLE
4) EXPLAIN HOW ECONOMIC GROWTH IS MEASURED AT A
SYSTEM LEVEL
VOCAB:
GDP
Durable goods
Nominal GDP
Leading indicators
GDP per capita
Frictional unemployment
Structural unemployment
Cyclical unemployment
Seasonal unemployment
Full employment
Underemployed
intermediate goods
nondurable goods
real GDP
quantity theory
Discouraged worker
inflation
purchasing power
CPI
PPI
hyperinflation
deflation
THURSDAY
5/5
DAY 2
READING: Pgs. 334-349
CLASS: Economic indicators- I, UE
NOTES: unemployment & inflation
ACT: Research project- fact finding #2 / measuring economic
performance for Economic system
CLASS OBJECTIVES:
1) DIFFERENTIATE BETWEEN DIFFERENT TYPES OF
UNEMPLOYMENT
2) EXPLAIN THE EFFECTS OF RISING PRICES ON
CONSUMPTION AND PRODUCTION
3) IDENTIFY THE CAUSES AND EFFECTS OF INFLATION.
4) DESCRIBE HOW WE CALCULATE INFLATION.
VOCAB:
recession
Depression
Expansion
Peak
stagflation
contraction
trough