Economic Indicators
This is a CLIL Economics didactic unit planned and developed to pupils from 4º ESO.
This unit is related to know the most important economic indicators and how they explain and participate in the economy. This DU is planned at the final of the year, so pupils will have previous economic knowledge.
At the end of this didactic unit the student will be able ...
To understand the economic situation according to the most important economic indicators.
To distinguish the different kind of interest rates.
To Know the meaning of inflation and why it should be watched.
To Know the meaning of unemployment and how unemployment is measured in Spain.
This didactic unit will be distributed in eight periods of fifty minutes.
1st period.
We will introduce this unit with a funny video about inflation and it effects on the real state bubble Españistán, de la Burbuja Inmobiliaria a la Crisis (por Aleix Saló) Then, we can argue about economic concepts like inflation, interest, unemployment and their social consecuences.
After that, pupils make an English and Spanish glossary an uploading to our blog teenseconomy. We use some general dictionaries on the internet like encyclopedia britanica or wordreference and a special one called economicshelp We look for some words we work in this CLIL Unit like interest rate, official interest rate, inflation, deflation, unemployment, Structural Unemployment, Frictional unemployment,Seasonal Unemployment, Demand Deficient Unemployment. Then, we uploading to our blog teenseconomy Ahora mismo es un blog real que estoy usando con los alumnos de esta asignatura pero no en bilingüe.
Finally the teacher explanation what the interest is and some kinds of interest rate like the official interest rate or the Euribor . I use some online resources like libro de texto de economía de 4º de la ESO del profesor José Sande,.
2nd period.
First students answer several questions about the day before
then, we continue with teacher explanation
the third activity consist on reading an Spanish article of the official rate and try to explain it answering several questions. El País Europa se prepara para una larga era de tipos de interés cero o negativos
Lastly we play a Financial game called circuito financiero. It is very usseful to revise old concept and learn new ones.
3rd period.
Pupils start to look for information online about official interest rate and the ECB
Later they read an English article of the interest rate and try to explain it answering several questions
And finally they play the game "Inflation Island" This is a game from the ECB. This game is very useful to test their knowledge about inflation and interest. Pupils can try to identify the different inflation scenarios. They explore the different areas of Inflation Island, see how people react to inflation and deflation, and how the scenery changes.
The Island's cinema features videos and photos showing how inflation and deflation have affected various countries over the years.
4th period.
We would continue with a video about price stability. After they watch the video they give their opinion. This activity is in Spanish language.
Then, the teacher explain the theory
And finally, they read an Spanish article of inflation and students give their opinion
5th period.
In this session students will answer several questions about the days before, look for information online about statistical of inflation, interest and unemployment. For example pupils in couples will seek information online about official interest rate and the ECB, mainly on the official web .They will explain to the other pupils in 1 or 2 minutes something interesting about this topic:
Its history
Its monetary policy
Its governance
If a couple want to speak about another ECB topic can do it, this is only an example for help.
After that, it will be used a read comprehension of an ECB document about the inflation "What is inflation?" They will watch the video in the same web too, and then they will seek the words they don't understand on the internet dictionaries. Finally they will answer some questions like:
1º Can you explain with your own words what inflation is?
2º What kind of goods and services are including for measuring inflation?
3ºWho calculate consumer price inflation in the euro zone? Which is the name of consumer price inflation in the euro zone?
4ºWhich year are the prices higher? Why?
6th period.
After pupils read an Spanish article of unemployment statistics and students give their opinion, they will play a flashcard, We use to learn in class this funny game about unemployment vocabulary
7th period.
At the beginning we will read an English article of unemployment statistics and students give their opinion. For example, this text that explain what is unenployment beneficits It is like the concepts they had study.
They will address the same items like in the Spanish article but we will include a new task, looking for the vocabulary they don't understand, and if it will be necessary they will include them in our glossary.
Then, a flashcard to revise all the English economic vocabulary.
8th period.
Last revise: Finally I make a hangman game to revise this vocabulary about economic indicators. You can find it in my learningapps
And the final task: two rearing comprehension:
1º Spanish text:
They have to position the text, when, who and where has been the text writing.
A summary, explaining the economic words
their opinion
For example ti¡his article published on the nes paper "el mundo" sobre política monetaria del Banco Central Europeo
2º Reading comprehension of an economic textEnglish article.
The reading comprehension will be more easy they don´t have to explain the concepts and don´t need to understand the whole text. I only ask for a general comprehension and a little personal opinion. I choose for that an economics article about inflation.
By Silvia Falero Carrasco
Didactic Unit Economic indicators
Enhorabuena!!! Me parece muy interesante
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