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 […]

I.  Bellwork: After reading the link below:  Summarize and explain how the federal funds rate is used, it’s benefit and shortcomings. https://www.cbsnews.com/news/explainer-what-is-the-federal-funds-rate/ II.  Objectives: Set monetary policy by using the funds rate to achieve full employment and low price inflation. Determine the central ideas/information of the article about federal funds; provide an accurate summary that […]

I.  Objectives Determine how fiscal and monetary policy is implemented to manipulate AS/AD and the money supply to achieve the economics goals of stable prices and low unemployment.. Analyze and construct economic models used to demonstrate monetary policies effect on interest rates, RGDP, Price levels, and unemployment. II.  Section 6 Test A.  FRQ – 15 […]

I.  Bellwork A.  Read the article in the first link.  Summarize President Trump’s argument and the support he provides B.  View the video in the second link.  Summarize the argument former Fed Chair Janet Yellen has with President Trump.  Provide any support she uses in her claim. C. Provide your  opinion. Link 1 Link 2 […]

I.  Bellwork Pages 351-352 1-5 MC II.  Objective: Explain the differences between classical macroeconomics, Keynesian, macroeconomics, and Monetarism regarding macroeconomic policy List and Describe the elements of modern macroeconomic consensus III.  Consensus and Conflict in Modern Macroeconomics Pgs. 353-357 A. The Modern Consensus Is Expansionary Monetary Policy Helpful in Fighting Recessions? Is Expansionary Fiscal Policy […]

I.  Bellwork Page 339 – Check Your Understand 1-3 Q&A II.  Objectives: Explain why classical macroeconomics wasn’t adequate for the problems posed by the Great Depression Discuss how Keynes and the experience of the Great Depression legitimized macroeconomic policy activism Define monetarism and identify its views on the limits of discretionary monetary policy III.  Discussion: […]

I.  Bellwork A.  Create a graph demonstrating cost-push inflation.  Show the change in price level B.  Create a graph demonstrating demand-pull inflation.  Show the change in price level II.  Objectives: Use the Phillips curve to show the nature of the short-run trade-off between inflation and unemployment Explain why there is no long-run trade-off between inflation […]

I.   Bellwork The economy of Dodgelandia is experiencing an inflationary gap. a. How could the Central Bank use monetary policy (3 specific examples) to return the economy to full employment? b. Use a correctly labeled graph of the money market to show how this monetary policy would impact the equilibrium interest rate. c. Describe how […]

I.  Bellwork P311 FRQ #2 a-d II.  Objectives: Discuss short and long run implications of monetary policy Construct economic models to demonstrate monetary policy impact on interest rates and price levels in the short and long run III.  Notes: Finish Yesterday’s Notes Figure 32.1 Page 313 Figure 32.2 Page 315 IV.  Videos Macro 4.14- Loanable Funds & […]

I.  Bellwork P311 – MC 1-5 II.  Objectives Examine how recessions and inflation impact the deficit Determine the fiscal policy consistent with counteracting recessionary and inflationary gaps Analyze how government debt impacts the economy Identify how the Federal Reserve uses monetary policy as a means to achieve macroeconomic goals Construct a flow map describing the various […]