Public learning track
Macroeconomics: GDP, Business Cycles, and Global Trade
4th Grade · Social-studies · US-WI-SS
9 lessons
Goal
Analyze national economic output through Gross Domestic Product (GDP), explore the phases of the business cycle, and examine how international trade connects local economies to the world.
9 lessons
0 of 9 done
- 1Defining Gross Domestic Product (GDP)Up nextStart
- 2The Four Components of GDP: C, I, G, and Net ExportsPremiumNot started yet
- 3Differentiating Real GDP and Nominal GDPNot started yet
- 4Comparing the GDP of Different NationsNot started yet
- 5The Four Phases of the Business Cycle: Expansion, Peak, Contraction, and TroughNot started yet
- 6How Household and Business Spending Drives the EconomyNot started yet
- 7Using Economic Indicators to Forecast the EconomyNot started yet
- 8International Trade: Exports, Imports, and GlobalizationNot started yet
- 9Wisconsin in the Global Economy: Manufacturing, Dairy, and PaperNot started yet
Standards Covered
- SS.Econ3Wisconsin Social Studies Standards · Social-studies · Grade 4 (target) · Grade 4Wisconsin students will analyze how an economy functions as a whole (Macroeconomics).
- Econ3.cWisconsin Social Studies Standards · Social-studies · Grade 4 (target) · Grade 4Economic fluctuations and business cycles
- SS.Econ3.c.mWisconsin Social Studies Standards · Social-studies · Grade 4 (target) · Grade 4Define Gross Domestic Product (GDP), and compare the GDP of different nations.
- SS.Econ3.c.hWisconsin Social Studies Standards · Social-studies · Grade 4 (target) · Grade 4Connect the components of Gross Domestic Product (GDP) to different parts of an economy and differentiate between real and nominal GDP. Compare and contrast the parts of a business cycle of an economy (i.e., expansion/prosperity, peak, contraction or recession, trough).
- SS.Econ3.a.hWisconsin Social Studies Standards · Social-studies · Grade 4 (target) · Grade 4Assess how decisions about spending and production made by households, businesses, and governments determine the country’s levels of income, employment, and prices. Analyze why unemployment rates differ for people of different ages, races, and genders. Use economic indicators to analyze the current and future state of the economy.
- Econ3.aWisconsin Social Studies Standards · Social-studies · Grade 4 (target) · Grade 4Economic indicators
- SS.Econ2.b.mWisconsin Social Studies Standards · Social-studies · Grade 4 (target) · Grade 4Investigate the relationship between supply and demand. Evaluate the extent to which competition exists in product markets, and its relationship to price and quality of goods and services.
- SS.Econ2.c.3Wisconsin Social Studies Standards · Social-studies · Grade 4 (target) · Grade 4Compare the skills and knowledge required to produce certain goods and services. Provide an example of the factors of production (i.e., land, labor, capital, entrepreneurship) for a given product.
Curriculum Framework
4th Grade · Social-studies · US-WI-SS
1
10 lessons
Map Skills and Geographic Tools
Use geographic tools, grid systems, latitude, longitude, and diverse map types to navigate and analyze spatial patterns.
2
10 lessons
United States Physical Geography and Landforms
Identify major US physical landforms, water systems, climate zones, and human-environment interactions.
3
12 lessons
The Five Regions of the United States and State Capitals
Examine the physical landscapes, economies, cultures, states, and capitals across the five major US regions.
4
11 lessons
Indigenous Peoples and First Nations of North America
Explore the diverse cultures, governance, environments, and enduring sovereignty of Native American nations.
5
4 lessons
European Exploration and Early North American Encounters
Analyze the motivations, key voyages, and ecological impacts of European exploration, as well as early Spanish and French settlements in North America.
6
8 lessons
The Thirteen Colonies: Regions, Economy, and Society
Examine the founding of English settlements, the distinct geographic and economic regions of the Thirteen Colonies, Atlantic trade networks, and daily colonial life.
7
6 lessons
The Road to Revolution: Causes of the American Rebellion
Understand the political, economic, and social tensions that led the American colonies to rebel against British rule.
8
6 lessons
The Revolutionary War and the Birth of the United States
Examine the key battles, diverse contributors, Declaration of Independence, and final peace treaty that established a new nation.
9
8 lessons
The U.S. Constitution and the Three Branches of Government
Examine the origins of the U.S. Constitution, the structure of the three federal branches, and constitutional protections like the Bill of Rights.
10
4 lessons
Levels of Government and Active Citizenship
Explore how local, state, and tribal governments serve communities and learn the rights, responsibilities, and actions of engaged citizens.
11
10 lessons
Historical Inquiry, Sources, and Wisconsin Heritage
Differentiate historical evidence, analyze timelines, and explore key milestones and figures in Wisconsin history.
12
10 lessons
Economic Foundations, Production, and Business Decisions
Understand scarcity, factors of production, and how businesses organize resources and manage costs to generate profits.
13
6 lessons
Supply, Demand, and Market Dynamics
Analyze how buyer and seller behaviors interact through supply and demand to set equilibrium prices and drive market competition.
14
7 lessons
Understanding Money, Earning, and Budgeting
Learn how money functions, how workers earn income, and how to create balanced personal and family budgets.
15
9 lessons
Banking, Credit, and the Financial System
Explore how banks operate, how borrowing and interest work, and how the broader monetary system impacts financial choices.
16
7 lessons
Macroeconomics: Prices, Inflation, and Employment
Understand fundamental macroeconomic concepts including price level changes, inflation, deflation, purchasing power, and how unemployment is measured across demographic groups.
17
9 lessons
Macroeconomics: GDP, Business Cycles, and Global Trade
Analyze national economic output through Gross Domestic Product (GDP), explore the phases of the business cycle, and examine how international trade connects local economies to the world.