Lesson 20 - The Macro economics Basics-Inflation-CPI
Learning Goals: By the end of this lesson you will be able to
- Review what macroeconomics means
- Review why unemployment occurs, how the unemployment rate is calculated, and the impact of unemployment on the economy and citizens of a country
- Review business cycle
- Describe the components included in the consumer price index (CPI), and explain how the CPI is used to adjust for the effects of inflation.
- Aggregate demand and supply
Success criteria
By the end of this lesson you will be able to understand the business cycle, CPI , Inflation and unemployment.
- microeconomics: The branch of economics that studies the behavior of individuals and firms in the economy.
- macroeconomics :The study of the economy as a whole.
- inflation; A general rise in the price levels of an economy.
- consumer price index (CPI): A price index that measures changes in the level of prices of consumer goods and services.
- indexing: An adjustment made to some wages and pension payments to offset year-to-year price increases, using the CPI as a guide
- hyperinflation: A particularly serious period of price inflation when the inflation rate exceeds 50 percent per month.
Students to complete this after you've finished all activities/tasks in today's lesson.