Take a 10-minute guided tour of FRED, the St. Louis Fed's free economic data website. Simple step-by-step activities equip users to find and graph economic data, mastering FRED's look and feel. The guide also shows how to customize, save, and share a FRED graph.
This online activity shows how to use FRED, the Federal Reserve's free online economic data website, to analyze changes in real gross domestic product (GDP) and GDP makeup over time. Following simple instructions, you will locate spending data for the individual components of real GDP, and then combine them into a highly informative area graph. You will also use FRED's ability to stack data and see how trade—imports and exports—contributes to GDP. The resulting customized graph will let you see how economic output varies from year to year.
In this lesson, students learn the definition of gross domestic product (GDP) and the four expenditure categories of GDP. Then, they participate in a readers’ theater about castaways on an island who learn about GDP. Students record examples of items produced on the island that are examples of consumer, government, and investment spending. They recognize that, without trade, there is no net export category for the island.
This assignment exposes students to data on economic growth and development as commonly measured by per capita GDP and the Human Development Index (HDI) for 100 countries of the world. There is a big debate about how good an indicator HDI is compared to GDP per capita as a measure of development.
In this 7 minute video, students will learn the cause(s) and effect of cyclical unemployment. This will aid in the mastery of standard EPF. 5 (b) and (c)
Our standard of living depends on the pace of economic growth. That pace can be enhanced through increased productivity brought about by investment in physical and human capital and advances in technology. In this course, students will learn about these tools to increase productivity and advance our standard of living.
In this 5 minute video, students are introduced to the effects of fiscal policy on central banks, businesses and consumers. This video will enforce the standards related to standards EPF. 7b and 8
How is the total value of all the goods and services produced in a country's economy measured? Gross domestic product (GDP) is one common and fairly comprehensive measure. The May 2013 issue explains GDP components and how GDP is calculated. It also describes what GDP does—and does not—measure.
GDP and Pizza: Economics for Life is designed to help students in civics, economics and other social studies classes grasp challenging economic content – and to explain why these topics are important for citizens to understand.
To understand why people trade, suppose you were limited to consuming only items you could find within walking distance of your house. Or, perhaps even worse, only items you could produce yourself. For most of us, this restriction would severely diminish the variety of goods and services we enjoy on a daily basis. Therefore, the simplest answer to the question is that people (or entire countries) trade because they will enjoy a wider variety of goods.
History holds many economic lessons. The Great Depression, in particular, is an event that provides the opportunity to teach and learn a great deal about economics-whether you're studying the economic reasons that the Depression took place, the factors that helped it come to an end or the impact on Americans who lived through it. This curriculum is designed to provide teachers with economic lessons that they can share with their students to help them understand this significant experience in U.S. history.
In this video (8 minutes long) students will learn about the factors that make up the Gross Domestic Product (GDP) and what impact and significance the GDP has on our economy and economies around the world. This video will aid in the mastery of EPF. 5(a).
In this lesson, students participate in two rounds of a role play to help them understand the role of banks in facilitating economic growth through loans. Round 1 is conducted without a bank. After the first round, students read excerpts from Secretary of the Treasury Alexander Hamilton’s 1790 report to Congress in which he proposes a national bank because the United States had few banks at the time. Students then conduct Round 2 of the role play with a bank. After the round, students read excerpts from and summaries of the statute creating a national bank, Thomas Jefferson’s opposition, and Hamilton’s rebuttal.
GDP is a useful measure of the health of the economy, and it’s among the most important and widely reported economic data. However, the current “textbook treatment” of how international trade is measured as part of GDP can lead people to misunderstand the role trade plays in the economy. The September 2018 issue of Page One Economics intends to correct misconceptions and provide clear instruction on how imports affect GDP.
This is a JiTT exercise in which students apply introductory-level macroeconomic analysis to the question of how large the stimulus package put forward to Congress in early 2009 needed to be to close the recessionary gap facing the U.S. economy at that time. In particular, this exercise asks students to bring together the concepts of potential and actual GDP, recessionary gaps, fiscal policy, spending and taxing multipliers, and effects of changes in aggregate spending on employment and output.
Inflation, unemployment, recession, economic growth—these economic concepts affect people in very real ways. In this course containing three interactive, thought-provoking lessons, you will learn about monetary policy, the avenue by which the Federal Reserve System attempts to influence the economy.
Capitalism is in crisis.And with the 2022 war in Ukraine, the impending global food crisis, and the already burgeoning inflation / cost-of-living crisis (...to say nothing of the environmental crises confronting us...), it's about to get a lot worse.With the main alternative to capitalism (the planned economy) discredited by history, the question facing us now is: what can we do about capitalism? This opinion piece provides nine structured ideas for rescuing capitalism from itself. The ideas are arranged in three groups of three relating to: (i) Economics and the environment, (ii) the corporate world, and (iii) the financial world.
The output gap is one (of many) economic indicators used by economists to measure the strength of the economy. What exactly is the output gap, and how accurately does it predict the state of the economy? Read the November 2012 issue for an explanation of the output gap and answers to these questions.
This resource is a video abstract of a research paper created by Research Square on behalf of its authors. It provides a synopsis that's easy to understand, and can be used to introduce the topics it covers to students, researchers, and the general public. The video's transcript is also provided in full, with a portion provided below for preview:
"For thousands of years, the Nile has provided bountiful gifts to the people who make their home around its banks, offering food, a means of transport, irrigation, and fertile soil. But there is a limit to how much the Nile can give. Already in the 1970s, Egypt began fully utilizing the available resources of the Nile. Any additional demand has been met virtually, through imports of food. Now, research suggests that within the next decade, Egypt is poised to import as much “virtual water” as it receives from the Nile. In a new study from MIT, researchers compiled water and crop data for Egypt spanning the past 60 years. That gave them one of the most detailed looks at modern water use ever produced for the country, and helped them understand Egypt’s trade in “virtual water”. Virtual water refers to the hidden flow of water in food and commodities. For example, it takes about 1100 tons of water to produce one ton of maize in Egypt..."
The rest of the transcript, along with a link to the research itself, is available on the resource itself.