Name: Economic Forecasting Lesson
Subject: 9th-12th Grade Money Matters
Students are a partner in an economic forecasting firm called Acme Economic Forecasters (AEF). The students received a letter from a business woman in Australia that they talked to through Skype who is interested in moving her guava jelly business to the United States. She has asked the students to prepare a presentation report on the expected economic health of the United States economy for the next year and to post the report in a Google site she shares with them.
The students will need to do the following:
Make certain they can explain the three leading economic indicators: GDP, inflation rate, unemployment rate.
Gather data on the current state of the three leading economic indicators for the United States economy.
Prepare a report for their client that includes:
- at least one graph/chart for each of the three indicators.
- a brief explanation of the status of that indicator.
- a prediction for the health of the United States economy over the next 12 months.
Knowledge/Skills Students Learned:
The student is expected to interpret economic data, including unemployment rate, gross domestric product, gross domestic product per capita as a measure of national wealth; and rate of inflation.
What Went Well:
The Skype connection we made with the business woman in Australia
Using the Internet to search and determine the factual data relating the information the business woman wanted to know in their report.
Questions that this business woman sent to the students through e-mail to get further clarification of their information to better understand their final recommendation to her concerning her guava jelly business coming to the U.S.
The creativity and critical thinking process students developed as they put their report together.
Scheduling all of the students in the online course to meet on Skype at a certain time and date. There were some students that didn't have a webcam, so I recorded the meeting with the Australian women for them and put it in the course.
Web 2.0/Social Media:
Used Skype to visit with a professional business woman in Australia.
Used a shared Google site to post their report for the woman in Australia to comment on through e-mail to the specific student.
Created a video of their report and uploaded it to a YouTube education site for teacher approval before uploading it to the Google site. This also gave the other students an opportunity to view and comment on other students' video reports.
I would not do anything differently next time I teach this lesson because according to students' journals on their evaluation of this assignment, they really enjoyed this assignment and the opportunity to provide a report that could persuade a professional business person in making an important decision about moving or not moving her company to the U.S. This also helped the students to realize the vital daily financial decisions businesses make every day in order to succeed in our economy.