Introduction to Macroeconomic Indicators & Assessment Preview
Unit 3 · Lesson 3.2 · Last updated June 2026
A 45-minute lesson where students are introduced to four key macroeconomic indicators using a health-vitals analogy, then preview the unit summative assessment — A Practical Guide to the U.S. Economy.
Overview
In the first portion of this lesson, students are introduced to four key macroeconomic indicators to provide a framework for Unit 3 and context for the unit assessment. In the second portion, students are presented with the unit assessment and familiarize themselves with its structure, templates, and rubrics. Note: Students will not begin working on the assessment during this lesson — the first workday is Lesson 3.8 (Part 1) and Lesson 3.9 (Part 2).
Learning Objectives
- Describe key macroeconomic indicators.
- Identify requirements for A Practical Guide to the U.S. Economy.
Create a free account, or log in.
Get full access to materials, the complete lesson sequence, aligned standards, and every lesson across all units.
Already a member? Sign in here.
Materials
- Instruction Slides (display during class period)
- Student Handout pp. 4–5 (1 copy per student)
- A Practical Guide to the U.S. Economy pp. 6–8 (1 copy per student)
- Workday-Specific Instructions p. 9 (for educator reference)
Optional (distributed on assessment workdays)
- Electronic Student Assessment Template OR Printable Student Assessment Template (1 copy per student)
- Exemplar and Scoring Guide (for educator reference)
Lesson Sequence
Slides 2–3
- Display Slide 2 and distribute 1 copy of Student Handout to each student. Direct students to discuss the prompt on the slide with a peer and jot their thoughts in the "Activator" section of Student Handout. (Additional educator tips and suggested answers are in the notes section throughout Instruction Slides.)
- Discuss the activator as a class. Emphasize that although students were given the same information, not all students arrived at the same conclusion.
- Proceed to Slide 3 and introduce the learning objectives. Explain that the first half of class will focus on describing key macroeconomic indicators; in the second half, students will be introduced to the assessment but will not begin working on it during this lesson.
Slides 4–35
- Progress through Slides 4–5. Reinforce that, as discussed in the activator, the health of a human can be analyzed using a number of indicators. When doctors review a patient's chart it is not uncommon for different doctors to reach different conclusions about a patient's health.
- Display Slide 6. Outline that economists use empirical data to assess the economy much like physicians use empirical data to assess the health of a patient.
- Proceed to Slide 7. Introduce the four key macroeconomic indicators students will learn about throughout Unit 3. Encourage students to jot down notes, drawings, and examples throughout the lesson. Note: The space provided on Student Handout is intentionally limited to encourage students to focus on the main concept of each indicator.
- Display Slide 8. Clarify that students will be introduced to the indicators and how they inform economists — providing context for the assessment. Students will learn more about each indicator as Unit 3 progresses and are not expected to be experts after this lesson.
- Use Slides 9–16 to describe each indicator and explain the kinds of questions it can help answer.
- Proceed to Slide 17. Stress that, much like determining the overall health of a person, determining the overall health of an economy is a complex process. Because of this, economists often come to different conclusions about the health of an economy.
- Display Slide 18. Instruct students to discuss the questions on the slide with a peer. After approximately 30 seconds, debrief as a class.
- Progress through Slides 19–20. Tell students to follow the instructions on the slide — encourage them to consider "big" decisions rather than day-to-day decisions. (Reference the notes section for examples.) After approximately 3 minutes, tell students to share their lists with a peer and identify similarities and differences.
- Display Slide 21. Instruct students to flip over their handout to view the "Life Decisions" section and follow the instructions on the slide. Encourage students to discuss their ratings as they go. Allow approximately 6 minutes to rate as many life decisions as possible.
- Proceed to Slide 22. Tell students to consider the question as they watch the news clips (~45 seconds). After the video, poll the class to determine students' confidence levels. Tell students that throughout the unit they will learn how to interpret these indicators and by the end will be more confident using data to inform life decisions.
- Progress through Slides 23–24. Emphasize that economic indicators are routinely discussed, cited, and used to debate policy in the real world. Knowing what these indicators are and what they tell us is important to young adults entering post-high school life.
- Proceed to Slide 25. Tell students the unit assessment will focus on all four indicators. Students will learn about it today and work on it throughout Unit 3.
- Distribute 1 copy of A Practical Guide to the U.S. Economy to each student. Instruct students to read the "Introduction" through the "Reflection Requirement" on the front page. Encourage students to note questions as they read.
- Progress through Slides 26–30. Review and clarify the general overview and structure of the assessment.
- Advance through Slides 31–33. Preview the templates students will use to complete each section. Explain that students will use the templates to ensure all required material is covered — finished portions will be submitted and scored throughout the unit.
- Display Slide 34. Alert students that there are 3 separate rubrics: one for Parts 1 and 2 (4 indicator pages submitted in groups of 2), one for Part 3, and one for Part 4. Remind students that the rubrics are their roadmap to success. Students will have additional time to review rubrics and ask for clarification before the first workday (Lesson 3.8).
- Proceed to Slide 35. Tell students to discuss the questions on the slide with a peer.
Slides 36–37
- Progress through Slides 36–37. Ask students to discuss one or both of the questions on Slide 37 with a peer. Time permitting, debrief as a class. Note: Workday-specific instructions are provided on page 9 to support assessment workdays throughout the unit.
Aligned Standards
Voluntary National Content Standards in Economics
Standard 11 Gross Domestic Product (GDP)
Standard 15 Inflation
Standard 16 Growth and Fluctuations
What Educators Are Saying
Love how this lesson used an illustration to connect economic indicators to vital signs that doctors use to track health status. Students enjoyed learning how to read economic vitals and determining what this could mean for the economy.
High School Economics Teacher, Georgia
I am absolutely impressed by the quality of work you guys continually put out there!
High School Economics Teacher, Indiana
Thank you so much. I've been using these materials this year for the first time and I LOVE them!
Anonymous