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Atlanta Public Schools Social Studies Professional Development 10/12/10

Atlanta Public Schools Social Studies Professional Development 10/12/10. Economics Teachers Workshop. Lesson Focus: Calculating GDP, Expenditure Approach. SSEMA1: Measurement of Economic Activity (b, c) TLW:

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Atlanta Public Schools Social Studies Professional Development 10/12/10

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  1. Atlanta Public Schools Social Studies Professional Development 10/12/10 Economics Teachers Workshop

  2. Lesson Focus: Calculating GDP,Expenditure Approach SSEMA1: Measurement of Economic Activity (b, c) TLW: • Define Gross Domestic Product (GDP) economic growth, inflation, stagflation, and aggregate supply • Explain how economic growth is calculated • Discuss how economist measure GDP • Classify economic events referencing the four macro-economic categories for GDP • Predict how these economic events effect GDP

  3. Use the Econ Coach book or Econ study Guide to Define the following terms: • Macro-Economics • Gross Domestic Product • Consumer Price Index • Stagflation • Aggregate Supply • Aggregate Demand

  4. Lesson Focus: Calculating GDP,Expenditure Approach SSEMA1: Measurement of Economic Activity (b, c) Essential Question Does using the expenditure to calculate GDP give best description of the countries health?

  5. SPONGE 1. no; the engine is an intermediate good used in the production of an automobile 2. no; GDP includes only the value of goods produced within the country’s borders

  6. Lesson Focus: Calculating GDP,Expenditure Approach

  7. Lesson Focus: Calculating GDP,Expenditure Approach GDP Rules: • If C, I, or G Increases, GDP Increases • If Exports Increase, GDP Increases • If Imports Increase, GDP Decreases

  8. Lesson Focus: Calculating GDP,Expenditure Approach Using the expenditure approach to calculate GDP, C+G+I+(x-m), the “C” stands for • Spending performed by the government • Spending performed by Businesses • Spending performed by Consumers • Spending on imports and exports

  9. Lesson Focus: Calculating GDP,Expenditure Approach When the My-T-Sharp lawn care business takes out a loan to invest in lawn care equipment, what’s being affected?. • Consumer spending increases and GDP increases. • Exports increase and GDP decreases. • Government spending decreases allowing GDP to increase. • Spending for businesses increases allowing GDP to increase.

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