AP Macro – 1/30/2020
I. Bellwork
A. Explain the message of this cartoon?
B. What is your opinion of the cartoon?
II. Objectives:
- Explain how economists use aggregate measures to track the performance of the economy
- Interpret the circular flow diagram of the economy
- Define and calculate GDP
III. Discussion/Notes
A. The Circular – Flow Model
- The Simple Circular Flow Model
2. The Expanded Circular-Flow Model
B. Gross Domestic Product
- Measuring GDP as the Value of Production of Final Goods and Services
- Measuring GDP as Spending on Domestically Produced Final Goods and
C. Services
- Measuring GDP as Factor Income Earned from Firms in the Economy
- GDP: What’s in and What’s Out?
IV. Videos
- Video GDP
- What is GDP? Explained
- Measuring GDP using the Income Approach and the Expenditure Approach – HD
V. Classwork on iLearn
- 10.1 & 10.2 WS
- Module 10 Questions
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