Tuesday, February 8 - Thursday, February 10, 2011

Measurements of Economic Performance

OBJECTIVES 

Students shall be able to

1. define GDP, intermediate goods, final goods, consumption, investment, government purchases, net exports, national income, net domestic product, personal income,
   disposable income, nominal GDP, real GDP, and CPI.

2. describe and differentiate between the expenditure and income approaches.

3. explain how Gross Domestic Product is calculated.

4. identify and define the components of GDP.

5. identify and define measures of the price index.

ACTIVITIES

1. Lecture/discussion: Measuring Domestic Output, National Income, and the Price Level.

Assignments:

1. Take notes on Chapter 7.

2. NCEE & David Mayer activities on GDP.

3. M&B chapter 7 quiz.

4. Prepare for Test #2 on Friday.

 

ASSESSMENT PROCEDURES

Monitor and adjust. Grade the quiz.