Using data from the Bureau of Labor Statistics on the Consumer Price Index (CPI), students investigate the latest release for September 2014. Students will explore what a "good" inflation rate is, and why 0% or deflation is harmful to the economy.
Do your parents ever ask you to shovel the snow out of your driveway or mow the lawn? Have you ever thought that these jobs are a waste of your time? Perhaps you are right. If it takes you one hour to shovel snow from your driveway, you might reasonably wonder how long it might take if you had a snow-blower. If you spend two hours mowing your yard with a 21-inch cut walking lawn mower, how much more efficient could you be with a 48-inch cut garden tractor? Imagine what life must have been like 200 years ago. The most advanced mode of overland transportation was horse and buggy. Intercontinental travel was limited to wind-powered sailing vessels. Advanced communication meant receiving an outdated letter in the mail. Employment opportunities were limited to the agricultural sector. No indoor plumbing, no electricity, no television, no automobiles, no cellular phones, no overnight business meetings 1000 miles away, and the list goes on. Living standards in the United States have expanded at a very rapid rate over the past two centuries. Economists usually use the output of goods and services per person to measure a nation's standard of living. The level of per capita (per person) U.S. output in 1990 was nine times its size 120 years earlier. In the 1990s alone, the level of output per person in the United States has expanded by several thousand dollars. Inflation adjusted per capita output is now over $28,000. What accounts for this impressive rise in our living standards? Many observers suggest that the explanation of increased prosperity can be found in the productivity improvements of the New Economy.
Using data from the Bureau of Labor Statistics on the Consumer Price Index (CPI), students investigate the latest release for October 2014. Students will explore the difference between seasonally unadjusted and adjusted data are and the role of each.
The following lessons come from the Council for Economic Education's library of publications. Clicking the publication title or image will take you to the Council for Economic Education Store for more detailed information.
The teacher guide accompanies the student activities books in macro- and microeconomics for teaching college-level economics in AP Economics courses. The publication contains course outlines, unit plans, teaching instructions, and answers to the student activities and sample tests.
58 out of 58 lessons from this publication relate to this EconEdLink lesson.
This publication contains complete instructions for teaching the lessons in Capstone. When combined with a textbook, Capstone provides activities for a complete high school economics course. 45 exemplary lessons help students learn to apply economic reasoning to a wide range of real-world subjects.
45 out of 45 lessons from this publication relate to this EconEdLink lesson.
Focus: Understanding Economics in U.S. History uses a unique mystery-solving approach to teach U.S. economic history to your high school students.
40 out of 40 lessons from this publication relate to this EconEdLink lesson.