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GDP: Does It Measure Up?

May 2013

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Classroom Edition

May 1, 2013 GDP and Pizza: Economics for Life

Is a two-day, online course produced by the Federal Reserve Bank of St. Louis. It is designed to help students in civics, economics and other social studies classes grasp the challenging economic content—and to explain why these topics are important for citizens to understand.
Section One covers:

  • the definition of Gross Domestic Product (GDP)
  • the components of GDP
  • per capita GDP

Section Two covers:

  • real vs. nominal GDP
  • levels vs. percentage change
  • importance of a growing economy
  • trend growth rate
  • uses for GDP data
  • automatic stabilizers

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