Unit 3: Concepts of Macroeconomics and the Global Economy

Students will know how scarcity forces societies to make macro-level trade-offs when allocating limited resources

Students will know how to evaluate a nation's economic health by analyzing trends in Gross Domestic Product (GDP)

Students will know how the government utilizes fiscal policy—specifically taxation and government spending

Students will know how the central bank uses monetary policy tools (like adjusting interest rates and reserve requirements) to manage the money supply

Students will know how tariffs and trade barriers impact domestic industries, consumer prices, and international trade relationships

Demonstrate how scarcity forces a nation to make trade-offs between competing public priorities.

Diagnose whether an economy is expanding, contracting, or experiencing inflation.

Prescribe a specific fiscal policy action to close a given recessionary or inflationary gap.

Diagram how central bank actions alter the money supply, interest rates, and aggregate demand.

Graph the market effects of a tariff to quantify the resulting changes in domestic production, & consumer prices

Students will be given real-life individual & market scenarios and must successfully graph initial data and the resulting changes 

Students will take unit quizzes and demonstrate vocabulary/term mastery

Students will participate in a  panel discussion centered on a real-life scenario 

Participate in structured debates and student panel analyses 

Students will be provided with two opposing, rigorous texts regarding concepts from this unit, and must write an argument on their position as to why their belief is correct.