unit 1: measurement of economic performance
Date |
Agenda |
Homework |
IB HL |
1.10 |
Review comparative advantage, PPCs, and circular flow of the economy |
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1.11 |
Macroeconomic issues: business cycle Macroeconomic issues: unemployment, inflation, growth WtE: Recession |
Quantitative Economics pp. 33-42 |
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1.15 |
National income accounting: GDP with its components, real vs. nominal, actual vs. potential GDP |
Module 2 MC Modules 10 and 11 notes or Khan Academy 1. The Circular Flow and GDP 2. Limitations of GDP |
Paper 1 sample to mark and then do your own practice IB Course Companion p. 111 |
1.17 |
Finish national income accounting Handout Is it Counted? WtE: GDP Smackdown GDP calculation practice assignment |
Modules 10 and 11 MC Modules 12 and 13 notes or Khan Academy 1. Real vs. nominal GDP 2. Unemployment Study for quiz |
Paper 2 sample to mark and then do your own practice IB Course Companion p. 120 |
1.22 |
Quiz 1: national income accounting, business cycles, circular flow, comparative advantage, PPCs Unemployment: definition, measurement, types, NRU Handout Unemployment assignment |
Modules 12 and 13 MC Modules 14 and 15 notes or Khan Academy 1. Price Indices and Inflation 2. Costs of Inflation |
Value |
1.24 |
Inflation: definition, costs of inflation, price indices, nominal vs. real values (APE lesson 2.3) Handouts: Inflation, price indices |
Modules 14 and 15 MC Study for quiz |
|
1.28 |
substitute day :( 1. Start with GDP, Unemployment, Inflation EconMovies #6: Back to the Future at https://www.youtube.com/watch?v=3GTgniuxA50&list=PL11ADD17785C9C9A4&index=8 2. Show the 16:30 video from YouTube: Mr. Clifford’s Inflation and CPI Practice—Macro 2.8 video at https://www.youtube.com/watch?v=JW7IQ45_up8&list=PL11ADD17785C9C9A4&index=13 3. Show the Macro Unit 2 Summary—Measuring the Economy at https://www.youtube.com/watch?v=BvqJiIGT8CE&list=PL11ADD17785C9C9A4 This 3rd video includes the content that hasn’t been taught yet. AP students can fill out the inflation handout from the green folder as they watch the third video; HLs ought to be able to help them out. For the last 30 minutes, they can all quiz together. |
Quantitative Economics pp.43-44, 47-50 |
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1.30 |
Exam 1 Exam 1 MAKE UP OPPORTUNITY with answer sheet here Introduce next unit, aggregate demand presentation link |