Gross Domestic Product (GDP) & Standard of Living Economics Lesson

Gross Domestic Product (GDP) & Standard of Living Economics Lesson
Gross Domestic Product (GDP) & Standard of Living Economics Lesson
Gross Domestic Product (GDP) & Standard of Living Economics Lesson
Gross Domestic Product (GDP) & Standard of Living Economics Lesson
Gross Domestic Product (GDP) & Standard of Living Economics Lesson
Gross Domestic Product (GDP) & Standard of Living Economics Lesson
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3 MB|16 pages, 19 slides
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  1. Greetings Friend! It’s so easy to turn economic indicators into a boring series of definitions and calculations (think Ben Stein in Ferris Bueller’s Day Off). Yet this unit is one of the most relevant to students’ lives outside high school since they’re bound to be affected by economic performance t
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Greetings Friend!

Allow me to introduce myself- I'm Mrs. P and I love student engagement. So when I teach this GDP lesson (& student research activities), I'm thrilled when I hear my students excitedly nudging their friends, saying things like "did you see Liechtenstein's GDP per capita?! Why is it so high?!" I love watching them think critically about a topic that could otherwise be (mis)interpreted as dry. I can't wait for you to see your students come alive as they understand and then research GDP across the world.

This lesson will teach your students all about what GDP is and how we calculate it! In addition, there are two research assignments that challenge students to compare the GDP and GDP per capita of various countries as well as examine indicators of standard of living. For this lesson, along with lecture notes, I've included an engaging opening activity (no prep required!) and critical thinking opportunities throughout the lesson.

What to Expect:

  • 1 Written Warm Up & Opening Activity
  • 1 Essential Question
  • An Engaging Lecture with Thinking Activities & Think-Pair-Shares throughout
  • Student Fill In Notes for the Lecture (including Warm Up)
  • 11 Question Student Worksheet Practicing What Is Counted in GDP (& Teacher Answer Key!)
  • GDP Country Comparison Research Assignment with Detailed Instructions & Critical Thinking Questions (includes real GDP & GDP per capita)
  • Standard of Living Research Assignment (students research other indicators of standard of living in the countries of their choice)
  • Suggested Lesson Plan

I usually teach the GDP lesson in two class periods (140 minutes total).

This resource is also a part of this discounted bundle: Economic Indicators Research-Based Unit Bundle

Topics Covered in Lecture:

  • GDP Definition
  • How to Calculate GDP (formula, explanation & examples)
  • Nominal vs. Real GDP
  • GDP per capita
  • Criticisms of GDP
  • GDP vs. GNP (briefly explained)

Materials Needed:

  • Class set of included worksheets
  • Computers for research

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Total Pages
16 pages, 19 slides
Answer Key
Included
Teaching Duration
2 days
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