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.
Real Gross Domestic Product (GDP) during the second quarter (April through June) of 2001 increased at an annual rate of 0.3 percent. This is the final estimate for the second quarter. During the first quarter of 2001, real GDP increased at an annual rate of 1.3 percent. For the year 2000, real GDP increased at annual rates of 2.3, 5.7, 1.3, and 1.9 percent in each of the four quarters. The slowing rate of growth throughout 2000 has continued through the most recent two quarters. The growth rate in real GDP over the last 12 months has been 1.2 percent. That compares with a more than 4 percent annual growth rate over the last several years.
This lesson focuses on the December 20, 2012, third (final) estimate of U.S. real gross domestic product (real GDP) growth for the third quarter (Q3) of 2012, as reported 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 lesson will also raise questions about the impact of the current level of growth on the U.S. economy and individuals.
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Focus: Understanding Economics in U.S. History uses a unique mystery-solving approach to teach U.S. economic history to your high school students.
14 out of 40 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.
10 out of 45 lessons from this publication relate to this EconEdLink lesson.
Teaching Financial Crises is an eight lesson resource that provides an organizing framework in which to contextualize all of the media attention that has been paid to the recent financial crisis, as well as put it in a historical context. The current events stories, opinion pieces, and other popular media pieces that are today in great supply have generally not connected to educational objectives, historical analysis, and economic processes and concepts that are used in the high school classroom. In Teaching Financial Crises, teachers will find a non-partisan and non-ideological resource to help them simplify and offer balanced perspectives on this challenging subject matter.
7 out of 9 lessons from this publication relate to this EconEdLink lesson.