Evaluating GDP as a Measure of Well-Being: Part 2
Unit 3 · Lesson 3.5 · Last updated June 2026
A 45-minute lesson where students categorize and evaluate critiques of GDP as a measure of a good life, synthesize their evolving thinking, and practice applying GDP data to real-world decisions as an economist life coach.
Overview
In this lesson, students categorize and evaluate critiques of GDP as a measure of a "good life" and synthesize information from this and previous lessons to determine the relative usefulness of GDP data. The lesson concludes with practice applying GDP knowledge to real-world decision-making scenarios. Note: Explicit connections are made to the "GDP per Capita vs. Good Life" graph activity in Lesson 3.4. Consider modifying the Step 3 instructions on Student Handout if students did not participate in that lesson.
Learning Objective
- Explain the usefulness and limitations of GDP.
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Materials
- Instruction Slides (display during class period)
- Student Handout pp. 4–5 (1 copy per student)
- Lesson 3.4 Student Handout (previously distributed)
- Perspectives on GDP pp. 6–7 (class set — 1 copy per 3 or 4 students, cut into 9 strips; consider placing sets in an envelope or paperclipping them together)
- Economist as Life Coach p. 8 (1 copy per student)
- Suggested Responses p. 9 (1 copy for educator reference)
Lesson Sequence
Slides 2–4
- Display Slide 2 and allow approximately 1 minute for students to discuss the question with a peer. (Additional educator tips and suggested answers are in the notes section throughout Instruction Slides.)
- Proceed to Slide 3 to reveal the correct answer and debrief as a class.
- Display Slide 4 and introduce the learning objective for the lesson.
Slides 5–10
- Progress through Slides 5–6. Tell students to locate their Lesson 3.4 Student Handout (Evaluating GDP as a Measure of Well-Being: Part 1).
- Organize students into groups of 3 or 4 and distribute 1 copy of Student Handout to each student.
- Display Slide 7. Direct students to read the "Instructions" portion of Student Handout as you distribute 1 set of Perspectives on GDP to each group.
- Read aloud — or have a student volunteer read — Steps 1–2 on Student Handout. Tell students that Steps 1–2 are completed as a group and Steps 3–4 individually. Emphasize that students will need to reference the "GDP per Capita vs. a Good Life" graph from Lesson 3.4 for Steps 3 and 4.
- Allow approximately 24 minutes for students to complete Steps 1–4. Circulate to answer questions and offer clarification. Reference the notes section of Instruction Slides for suggested categorizations. Pro Tip: If time allows, ask students to generate additional critique categories.
- After 24 minutes, direct students to gather their Perspectives on GDP strips. Collect Perspectives on GDP from groups and Student Handout from each student. After the lesson, review Steps 3–4 for misconceptions. Address at the start of the next lesson.
- Proceed to Slide 8. Reinforce that although GDP is not perfect, it provides useful information that can inform decisions people make in their daily lives.
- Display Slide 9. Distribute 1 copy of Economist as Life Coach to each student. Pro Tip: Remind students that the Unit 3 summative assessment requires them to offer advice based on the GDP growth rate with reasoning — this activity is designed to practice that skill.
- Organize students into pairs (groups of 3 if needed). Direct each pair to select a scenario (or assign one) and complete the instructions on the slide. Circulate to answer questions. Note: Students should focus on explaining their reasoning based on GDP growth rate data. Refer to Suggested Responses for support.
- Proceed to Slide 10. Instruct students to take their handouts and move with their partner to find another pair who read a different scenario. Once in groups of 4 (or more if necessary), students take turns sharing their scenario, response, and justification. After approximately 2 minutes, tell students to return to their seats. Pro Tip: All scenarios are printed on the handout for future retrieval practice — consider assigning later in the unit with time for students to discuss responses.
Slides 11–12
- Advance through Slides 11–12. Instruct students to read and discuss the prompt on Slide 12. Consider calling on volunteers to share their responses.
Aligned Standards
Voluntary National Content Standards in Economics
What Educators Are Saying
This was a great way to examine GDP's measurement of the "good life." The perspectives were challenging for students to classify, yet appropriate for their ability.
The scenarios gave students a chance to get up and interact with each other in a meaningful way.
I am a brand new teacher teaching economics, and making it fun is not always easy. So far I feel like the resources I have used are both fun and very well set up to help students understand the topics.