Macroeconomic Variables (GDP, Inflation, Unemployment, Exchange Rate)

Curriculum details

Strand

Government Economic Policy and Trade (Strand 4)

Sub-strand

Macroeconomic Variables (GDP, Inflation, Unemployment, Exchange Rate) (4.1)

Content standard

1.4.1.CS.1 - Demonstrate knowledge and understanding of ownership and control of resources and fundamental macroeconomic variables. 1.4.1.LO.1 Examine the meaning and the type of ownership and control of resources and fundamental macroeconomic variables in the local and global economy.

Indicator

1.4.1.LI.2 - Explain the meaning of the fundamental macroeconomics variable.

Suggested placement

Semester 2, Week 10 (Week 30 of the year)

Our suggestion, laid out in curriculum order across three terms of twelve weeks. NaCCA does not fix the week, so follow your school's scheme of learning.

Curriculum reference

NaCCA curriculum document, p. 48

Exemplars (from the NaCCA curriculum)

Experiential Learning: Demonstrate changes in price of a particular commodity to explain inflation. Show a video or pictures of the major foreign currencies used by Ghanaian traders to describe exchange rate. Use examples of relatives and friends of students who have completed school without jobs or have acquired some skills but are not practicing but just home to explain unemployment. Give more time to slow learners. Use the national budget (either by projecting or print out) to explain national income. Learners should be encouraged to exhibit integrity always.
Assessment (1.4.1.AS.2). The document marks these depth-of-knowledge levels for this indicator: Level 2 Skills of conceptual understanding; Level 3 Strategic reasoning; Level 4 Extended critical thinking and reasoning.
Teaching and Learning Resources:
- Markers
- White board
- Computers
- Internet
- Projector
- Paper
- Printer
- ICT lab