About This Chapter
Who's it for?
This unit of our AP Macroeconomics Homeschool course will benefit any student who is trying to learn about growth and productivity in the economy. There is no faster or easier way to learn about economic growth and productivity. Among those who would benefit are:
- Students who require an efficient, self-paced course of study to learn about economic policy, factors that impact productivity, types of capital and the impact of economic growth.
- Homeschool parents looking to spend less time preparing lessons and more time teaching.
- Homeschool parents who need a macroeconomics curriculum that appeals to multiple learning types (visual or auditory).
- Gifted students and students with learning differences.
How it works:
- Students watch a short, fun video lesson that covers a specific unit topic.
- Students and parents can refer to the video transcripts to reinforce learning.
- Short quizzes and an economic growth and productivity unit exam confirm understanding or identify any topics that require review.
Economic Growth and Productivity Unit Objectives:
- Understand how a nation's potential output is increased.
- Discover the impact of real GDP per capita on the standard of living.
- Identify factors that affect productivity.
- Examine the roles human capital and physical capital have in increasing productivity.
- Explore how productivity impacts unemployment.
- Understand the effects of research and development and technology on productivity.
- Learn how government policies can impact economic growth and productivity.
1. Economic Growth: How to Raise a Nation's Potential Output
Learn the truth about long run economic growth, including how economists define and illustrate an increase in the potential output of a nation through change in real GDP.
2. How Real GDP per Capita Affects the Standard of Living
Have you ever wondered why some countries are better off than others? In this lesson, explore the concept of real GDP per capita, an economic measure of a nation's standard of living, and discover how population, productivity, and the savings rate effect the standard of living.
3. Productivity: The Economy's Long-Run Growth Engine
Using real-world examples, you'll learn more about what productivity is and four things that determine it within a nation - physical capital, technology, human capital, and natural resources.
4. Investment in Human Capital and Productivity
This lesson explores the education, knowledge and skills of the labor force - what economists call human capital - including how it affects productivity and economic output.
5. Physical Capital: Definition and Effects on Productivity
This lesson explains what physical capital is and why it's important to an economy. Using real-world examples, you'll see how it relates to the process of producing goods and services, which is a major foundation of economic growth.
6. How Technology, Research & Development Affect Productivity
Economists consider productivity to be a nation's long-run growth engine. This lesson explores the connection between technology, research & development, and productivity, using real-world examples.
7. Growth Policy and Economic Productivity
What do savings accounts and promoting education have to do with helping the economy to grow? In this lesson, we will explore government policies that help promote higher long-run economic growth.
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Other chapters within the AP Macroeconomics: Homeschool Curriculum course
- Scarcity, Choice & Production Possibilities Curve: Homeschool Curriculum
- Comparative Advantage, Specialization & Exchange: Homeschool Curriculum
- Demand, Supply & Market Equilibrium: Homeschool Curriculum
- Measuring the Economy: Homeschool Curriculum
- Inflation Measurement & Adjustment: Homeschool Curriculum
- Understanding Unemployment: Homeschool Curriculum
- Inflation and Unemployment: Homeschool Curriculum
- Aggregate Demand and Supply: Homeschool Curriculum
- Macroeconomic Equilibrium: Homeschool Curriculum
- Money, Banking and Financial Markets: Homeschool Curriculum
- Central Bank and the Money Supply: Homeschool Curriculum
- Fiscal and Monetary Policies: Homeschool Curriculum
- Foreign Exchange & Balance of Payments: Homeschool Curriculum
- Inflows, Outflows and Restrictions: Homeschool Curriculum