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The President's Dilemma
Source: Buck Institute of Education | Type: Lesson
Problem Based Lesson: Following increasing oil prices, high inflation and unemployment, the President has asked a Special Task Force of the Council of Economic Advisers to recommend a policy to deal with the crisis without increasing the national debt. Students learn about leading economic indicators and fiscal and monetary policy. Students must consider both supply-side and demand-side options and weigh the costs and benefits of various solutions as they recommend policies. / Put in your shopping basket and check out for the free download. This is a book of 52 pages.
Grades:
Concepts:
- Budget Deficit
- Consumer Price Index (CPI)
- Demand
- Determinants of Demand
- Determinants of Supply
- Discount Rate
- Economic Indicators
- Federal Reserve
- Fiscal Policy
- Government Expenditures
- Gross Domestic Product (GDP)
- Inflation
- Interest Rate
- Monetary Policy
- National Debt
- Open Market Operations
- Opportunity Cost
- Reserve Requirements
- Scarcity
- Supply
- Taxes
- Trade-off
- Unemployment
- Unemployment Rate
Standards:
- Economics 1: Scarcity
- Economics 2: Marginal Cost/Benefit
- Economics 12: Role of Interest Rates
- Economics 15: Growth
- Economics 18: Macroeconomy-Income/Employment, Prices
- Economics 19: Unemployment and Inflation
- Economics 20: Monetary and Fiscal Policy
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