Title: Unit 5: National Economic Performance Curriculum Alignment (Teacher Only)
Course: Indiana Economics Sample Syllabus > Section: Unit 5: National Economic Performance

National Economic Performance

E.5.1 Explain measures of a country's economic performance such as gross domestic product (GDP), unemployment, and inflation.

E.5.2 Recognize that a country's overall level of income, employment, and prices are determined by rational spending and production decisions of households, firms and government.

E.5.3 Explain the limitations of using GDP to measure economic welfare.

E.5.4 Identify the different causes of inflation (i.e., cost-push and demand-pull), and explain the impact of inflation on economic decisions. (E)

E.5.5 Explain the causes and effects of business cycles in a market economy.

E.5.6 Explain frictional, structural, cyclical, and seasonal unemployment, and analyze the impact of unemployment.