Module 4

Gross Domestic Product

Congratulations, we've reached the macroeconomics section of our course. We will spend this week delving into the main macroeconomic goals as presented at the end of module 1. Let's begin with gross domestic product.

Weekly Tasks

  1. Watch a video presenting the Chinese economy and engage in a discussion of their economic growth. (3 points) (due by Tuesday, February 16)
  2. View/Read instructional material outlining GDP, business cycles and economic growth.
  3. Score 100% on the comprehension quiz (you can take this as many times as you like!) (5 points) (by Thursday, February 18)
  4. Reply to 2 classmates' initial discussion posts, highlight specific concepts from this week. (3 points) (by Thursday, February 18)
  5. Complete a graded assignment-- A Critique of GDP. (20 points) (by Sunday, February 21)

At the end of the week you should:

  • Analyze the components of GDP
  • Recognize the critiques of the GDP measurement.
  • Compare real and nominal GDP values.
  • Interpret an economic business cycle and identify the main sources of economic growth.