The Macroeconomy: Growth, Unemployment, Inflation, and Policy: Social Studies Unit 3, Grade 12 (Letters & Devotion)

Description

The Macroeconomy: Growth, Unemployment, Inflation, and Policy is Unit 3 of Economics: Scarcity, Markets, and Decisions (Grade 12), the Letters & Devotion Social Studies course, complete in one printable PDF: 10 lessons, the unit check-up and the answer key, 80 pages.

• The real GDP calculation using a price deflator
• The three types of unemployment (frictional, structural, cyclical)
• Boundary cases between structural and cyclical unemployment
• The relationship between an aggregate measure (GDP) and its underlying distribution
• Reconciling conflicting aggregate economic indicators with a distributional/equity question
• The distinction between fiscal policy authority and monetary policy authority
• The direction (expansionary/contractionary) and category of an unfamiliar policy action
• The unemployment-inflation policy trade-off under a condition instruction did not directly model
• Definitions of fiscal policy and monetary policy and one tool for each
• The distinction between empirical claims and value trade-offs in economic argument

Every lesson is written for a parent with no teaching background: it opens with a short script to read aloud, names the specific wrong idea a student is likely to reach for and how to correct it, and closes with a practice sheet you may copy for your household. Scripture references are King James Version throughout. Black-and-white, 8.5 x 11 in. The whole year of this course is also in this store as a single book.

AI note: The written content of this resource was drafted with AI tools, then reviewed and edited by the author.