Macroeconomic Variables (GDP… · SHS3 Economics

Lesson notes

Learning Objectives

Indicator: 3.4.1.LI.2 - Investigate relationship among macroeconomic variables.

By the end of the lesson, learners can:

Explain how changes in GDP affect inflation, unemployment, and the exchange rate using Ghana’s economy as a case study.
Use data on Ghana’s GDP, inflation, unemployment, and exchange rate to identify at least three relationships between these variables.
Predict the likely effect on other macroeconomic variables when one variable changes, giving reasons for the prediction.
Work in mixed ability and gender groups to investigate a macroeconomic relationship and present findings using PowerPoint.
Assess the policy implications of macroeconomic relationships for economic decision-making in Ghana.

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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.2 - Investigate relationship among macroeconomic variables.
Suggested placement: Semester 2, Week 5 (Week 25 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 relationship among macroeconomic variables. Present a project report in power points.
Assessment (3.4.1.AS.2). 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