Lesson #19:
During this class students will explore the economic phenomenon known as unemployment. Unemployment is a key factor responsible for altering the demand for goods and services, therefore influencing the economic cycle. Interest is a term used to describe the cost of borrowing money. From a different perspective, it is plain to see that interest also represents the profit to be earned on loaned money, guaranteed investments, or savings deposits.
| Unemployed: All people actively looking for work who have not yet found jobs. |
| Labour Force: The total number of people who are able to work and are actively seeking work , already have jobs, or are self-employed. |
| Unemployment Rate: The percentage of the labour force which is unemployed. |
| Participation Rate: The percentage of the total population which is in the labour force. |
Instructional Method and Evaluation:
Students will take notes on the above topics and participate in socratic discussion. Afterwards, students will complete a spreadsheet designed to calculate the participation rate, the unemployment rate, and the number of unemployed individuals.
Resources:
Relevant web sites: