Grade 9-12
,
Activity
Analyzing CPI Data
Objective
Students will be able to:
- Interpret data related to the Consumer Price Index.
Standard
National Standards in Economics
Fiscal and Monetary Policy
Standard: 20
- Students will understand that: Federal government budgetary policy and the Federal Reserve System's monetary policy influence the overall levels of employment, output, and prices.
- Students will be able to use this knowledge to: Anticipate the impact of the federal government and the Federal Reserve System macroeconomic policy decisions on themselves and others.
Money and Inflation
Standard: 11
- Students will understand that: Money makes it easier to trade, borrow, save, invest, and compare the value of goods and services. The amount of money in the economy affects the overall price level. Inflation is an increase in the overall price level that reduces the value of money.
- Students will be able to use this knowledge to: Explain how their lives would be more difficult in a world with no money, or in a world where money sharply lost its value.
Concepts
In this economics activity, students examine and explain the role of the Consumer Price Index.
Resources
Procedure
This is an individual activity where students will read and interpret data from the St. Louis Fed Inflation Dashboard.CPI is a widely used tool to measure inflation and is often included in discussions on monetary policy. After reviewing the Inflation Data Dashboard students will complete either the Analyzing CPI Data worksheet or ReadyAssessments Activity.To complete this activity, students need to follow the directions below:
- Go to the Inflation Data Dashboard.
- Complete either the Analyzing CPI Data worksheet or ReadyAssessments Activity.