This lesson focuses on the January 28, 2009, press release by the Federal Open Market Committee on the current Federal Reserve monetary policy actions and goals. This lesson is intended to guide students and teachers through an analysis of the actions the Federal Reserve is taking and can take in influencing prices, employment, and economic growth. Through this lesson, students will better understand the dynamics of the U.S. economy and current economic conditions.
The Consumer Price Index (CPI) increased by .5 percent in July. The annual rate of inflation for the last three months has been 1.9 percent and over the last 12 months was 3.2 percent.
This lesson focuses on the monthly report on Real Gross Domestic Product (Real GDP), produced by the U.S. Bureau of Economic Analysis (BEA). The current data and historical data are explained. The meaning of GDP and potential impacts of changes of GDP are explored. This focus on economic data will also raise the question about a potential recession in the United States in 2008. Goals of GDP Focus on Economic Data The goals of the GDP focus on economic data are to provide teachers and students: access to easily understood, timely interpretations of monthly announcements of rates of change in real GDP and the accompanying related data in the U.S. economy; descriptions of major issues surrounding the data announcements; brief analysis of historical perspectives; questions and activities to use to reinforce and develop understanding of relevant concepts; and a list of publications and resources that may benefit classroom teachers and students interested in exploring inflation.
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Economics in Action combines 14 favorite CEE simulations, role-playing activities, group activities and classroom demonstrations in one volume.
2 out of 14 lessons from this publication relate to this EconEdLink lesson.