Economics – 3/22/2016

I.  Bellwork: Q&A

Identify each as being included or not included in the GDP of the United States.
1. A car built in Michigan and shipped to Brazil
2. A car made by Ford in Mexico
3. TV made in China
4. Buying lunch at Fordson
5. A Toyota made in Tennessee
6. A partially completed house
7. A freeway

II.  Objective

• Examine and discuss the components, merits, and shortcomings of GDP, as well as, alternative measures used to determine economic growth.
• Construct a thinking maps and a foldable describing and providing examples of the components of GDP.
• Determine the central ideas/information and construct  thinking maps which make clear the relationships among the key details and ideas.

III. Chapter 9 & 10 Retake: Wednesday after school

IV.  12-1 iLearn Quiz Today thru Thursday @ 9:30 pm

V.  Discussion and Activity

• What is GDP?  Explained
• https://www.grokkingecon.com/BR3Activities2.html
• Robert F. Kennedy challenges Gross Domestic Product
• Video:What Is the Gross National Product?

VI. Notebook:

A.  Brace Map Page 321 Identify specific examples of products not included in GDP:
• Intermediate (3)
• Secondhand (2)
• Nonmarket (3)
• Underground (3)

B.  Construct a Tree Map – Limitations of GDP

C.  Construct a Double Bubble illustrating the difference between GNP & GDP

VIII. Classwork

• GDP Foldable

Page 319 Vocabulary (20)

Economics W2016