Ch 4: Measuring the Economy: Homeschool Curriculum

About This Chapter

The Measuring the Economy unit of this AP Macroeconomics Homeschool course is designed to help homeschooled students learn about the processes required to measure the performance of the economy. Parents can use the short videos to introduce topics, break up lessons and keep students engaged.

Who's it for?

This unit of our AP Macroeconomics Homeschool course will benefit any student who is trying to explore economic measures. There is no faster or easier way to learn about measuring the economy. Among those who would benefit are:

  • Students who require an efficient, self-paced course of study to learn about intermediate goods, the factors of production and the circular flow model.
  • Homeschool parents looking to spend less time preparing lessons and more time teaching.
  • Homeschool parents who need an economics 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 a unit exam on measuring the economy confirm understanding or identify any topics that require review.

Measuring the Economy Unit Objectives:

  • Describe the flow of economic activity between corporations, the government and private households.
  • Discuss how income and expenditure approaches are used to assess the gross domestic product.
  • Define gross domestic product and list its various parts.
  • Discover things that are not included in the gross domestic product.
  • Learn the difference between intermediate and final goods.
  • Examine gross private domestic investment along with the ingredients of investment.

5 Lessons in Chapter 4: Measuring the Economy: Homeschool Curriculum
Test your knowledge with a 30-question chapter practice test
Circular Flow of Economic Activity: The Flow of Goods, Services & Resources

1. Circular Flow of Economic Activity: The Flow of Goods, Services & Resources

Learn about the simple model used to describe where money goes and what it is exchanged for in a market economy. The circular flow model of economic activity shows you the basic relationships between households, firms and the government.

Gross Domestic Product: Using the Income and Expenditure Approaches

2. Gross Domestic Product: Using the Income and Expenditure Approaches

In this lesson, you will learn how economists measure gross domestic product using two different methods - the income approach and the expenditure approach.

Gross Domestic Product: Definition and Components

3. Gross Domestic Product: Definition and Components

Learn how economists measure the total production of an economy using gross domestic product (GDP). This lesson also outlines the components that make up a GDP. How do we calculate the economic value of a nation?

Gross Domestic Product: Items Excluded from National Production

4. Gross Domestic Product: Items Excluded from National Production

In this lesson, you'll gain a better understanding of what the gross domestic product is by exploring things that are excluded from it. Why do we count some items in the GDP but not others?

Investment vs. Investments in Economics

5. Investment vs. Investments in Economics

Discover the important difference between investment in economics and investments that individuals make by saving out of their income. This lesson defines and outlines the basic components of gross private domestic investment.

Chapter Practice Exam
Test your knowledge of this chapter with a 30 question practice chapter exam.
Not Taken
Practice Final Exam
Test your knowledge of the entire course with a 50 question practice final exam.
Not Taken

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