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History, Civics & Social Studies · Grade 12

Macroeconomic Measures and Policy Debates

How do we measure a whole economy, and what can government do when it falters? Learners calculate GDP by the expenditure approach, convert nominal to real values, compute per-capita output, unemployment, labor force participation and CPI inflation from fictional data, and trace the business cycle. They compare fiscal and monetary policy tools and the arguments of several schools of economic thought, without being told which school is right.

  • 4 lessons
  • About 145 minutes
  • Macroeconomics check: 9 questions
  • Ways to answer: fill in the blanks, choose an answer, estimate, match pairs, type a number and put in order
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What learners will discover

  • Calculate GDP using C + I + G + (X − M) and explain what GDP does and does not measure.
  • Distinguish nominal from real values and calculate real growth and GDP per capita.
  • Calculate and interpret the unemployment rate, labor force participation and CPI inflation.
  • Explain the business cycle, fiscal and monetary policy tools, and compare schools of thought about stabilization policy.

Lessons

  1. Measuring output: GDP 4 steps3 practiceabout 34 min
  2. Real, nominal and per capita 5 steps3 practiceabout 35 min
  3. Unemployment and inflation 5 steps4 practiceabout 37 min
  4. Cycles, policy and debates 5 steps4 practiceabout 39 min
  5. Macroeconomics check 9 questions at the end

Keep exploring

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Guide for grown-ups