This lesson focuses on the Consumer Price Index (CPI) and rate of inflation reported October 16, 2008, by the U.S. Bureau of Labor Statistics for the month of September, 2008. Students read the BLS report, read about the meaning of the CPI, determine the change in consumer prices, and explore how the change in the CPI impacts consumers and the economy.
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.
This lesson focuses on the Consumer Price Index (CPI) and rate of inflation reported December 16, 2008, by the U.S. Bureau of Labor Statistics (BLS) for the month of November, 2008. Students read the BLS report, analyze the meaning of the CPI data, determine the change in consumer prices, and explore the impact of the change in the price level on themselves, their families, consumers and producers.