AP Economics – 3/04/19
I. Bellwork
A. Explain which measure, real GDP or GDP per capita is a better measure of economic growth.
B. Explain a shortcoming of each method
II. Objectives:
- Interpret measures of long-run economic growth
- Describe how real GDP has changed over time
- Explain how real GDP varies across countries
- Identify the sources of long-run economic growth
- Explain how productivity is driven by physical capital, human capital, and technological progress
III. Discussion:Long Run Economic Growth Pages 365 -371
- Analyze Real GDP per Capita
- Economic growth Rates Figure 37.1 p366
- Incomes Around the World Figure 37.2 p367
- History of Long term growth rates (productivity) p367-368
- Rule of 70
- Productivity (Human Capital, Physical Capital, & Technology)
IV. Classwork:
- 37.2 WS
- Module 37 Questions on iLearn
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