Objectives:
Inquiry Questions: How do monetary and fiscal policy control inflation, unemployment, and GDP? How involved should the United States government be in keeping the economy healthy? Key Vocabulary and Concepts: Nominal vs GDP per capita GDP = C+I+G+(X-M) LDC, EDC, NIC Circular Flow Business Cycle Inflation CPI Recession Types of Unemployment
Economic Indicators Monetary policy Loose vs Tight Monetary Reserve requirement Reserve ratio Discount rate Deposit multiplier Interest rate Open market operations Fiscal policy Expansionary vs. Contractionary Aggregate demand and supply Deficit spending Direct vs indirect taxes Progressive. regressive, proportional taxation Resources: Michigan Lottery Tax Policy Center (Revenue Graphs) Center on Budget Policy and Priorities (Expenditures) Taxes by Income Group History of Debt Janet Yellen's Dashboard Historic Gas Prices Extra Readings: Macro Economic Goals Monetary Policy Fiscal Policy Lecture Notes: Lecture Notes: What is a Healthy Economy? Lecture and notes: Taxes Lecture and notes: Fiscal Policy Lecture and notes: Monetary Policy Activities: Graphing GDP Inflation Nearpod - for absent students only Unemployment Web Quest
Economic Indicators (data analysis and writing)
Evaluation: Macro Goals Quiz Unit Test |
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