Macroeconomic Variables (GDP… · SHS3 Economics

Lesson notes

Learning Objectives

Indicator: 3.4.1.LI.1 - Analyze the connection (linkage) between the fundamental macroeconomic variables.

By the end of the lesson, learners can:

Explain how a rise in GDP growth affects the unemployment rate in Ghana using the concept of economic growth and job creation.
Trace the cause-and-effect chain showing how an increase in aggregate spending leads to both higher GDP and higher inflation.
Analyse how exchange rate depreciation affects domestic inflation through the prices of imported goods.
Identify the two-way relationship between inflation and unemployment (for example, the trade-off in the short run).
Work in mixed ability groups to analyse, using Ghana as a case study, at least three linkages among the macroeconomic variables and present findings in PowerPoint format.

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Curriculum details

Strand: Government Economic Policy and Trade (Strand 4)
Sub-strand: Macroeconomic Variables (GDP, Inflation, Unemployment, Exchange Rate) (4.1)
Content standard: 3.4.1.CS.1 - Demonstrate knowledge and understanding of the interrelationship between the fundamental macroeconomic variables. 3.4.1.LO.1 Distinguish the linkages and connections between the fundamental macroeconomic variables. 3.4.1.LO.2 Employ relevant approaches to analyse aggregate expenditure and multiplier.
Indicator: 3.4.1.LI.1 - Analyze the connection (linkage) between the fundamental macroeconomic variables.
Suggested placement: Semester 2, Week 4 (Week 24 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. 113

Exemplars (from the NaCCA curriculum)

Project-Based Learning: Use the economy of Ghana as a case study and work in small ability and mixed groups to identify the connection or linkages between or among macro-economic variables. Present a project report in PowerPoints.
Assessment (3.4.1.AS.1). The document marks these depth-of-knowledge levels for this indicator: Level 3 Strategic reasoning.
Teaching and Learning Resources:
- Markers
- White board
- Computers
- Internet
- Projector
- ICT lab pens
- Exercise books
- Textbooks