A Practical Guide to the U.S. Economy: Part 1
Unit 3 · Lesson 3.8 · Last updated June 2026
A 45-minute workday where students complete Part 1 of the unit summative assessment, covering the GDP growth rate and unemployment rate, using real FRED® data to describe, analyze, and advise a young adult.
Overview
Students work on Part 1 (GDP Growth Rate & Unemployment Rate) of A Practical Guide to the U.S. Economy, introduced and distributed in Lesson 3.2. This lesson assumes students have completed the assessment introduction and have learned about GDP growth (Lessons 3.3–3.5) and unemployment (Lessons 3.6–3.7). Students should have access to their class materials while working. Note: Because Lessons 3.17 and 3.18 are not essential to success on the unit assessment, those are ideal makeup days for students absent today.
Learning Objectives
- Describe the GDP growth rate and unemployment rate and how each is measured.
- Explain the usefulness and limitations of the GDP growth rate and unemployment rate.
- Explain the interdependence of the GDP growth rate and unemployment rate.
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)
- A Practical Guide to the U.S. Economy (previously distributed in Lesson 3.2)
- Printable Student Assessment Template pp. 4–7 (1 copy per student)
OR - Electronic Student Assessment Template (provide each student with their own editable copy of the Instructions, GDP Growth Rate, and Unemployment Rate pages) + laptop or device (1 per student)
- Part 1: Macroeconomic Indicators Rubric p. 8 (cut in half — 1 half sheet per student)
- Unit 3 Overview: Macroeconomics (previously distributed in Lesson 3.1)
Optional
- Exemplar and Scoring Guide (for educator reference while scoring)
Lesson Sequence
Slides 2–4
- Display Slide 2 and instruct students to follow the instructions on the slide. (Additional educator tips and suggested answers are in the notes section throughout Instruction Slides.)
- Proceed to Slide 3 and allow students 2 minutes to complete the instructions. While students work, provide access to Student Assessment Template (electronic or printable). Pro Tip: Consider providing access only to Part 1 (GDP Growth Rate & Unemployment Rate) to prevent students from working ahead.
- Proceed to Slide 4 and introduce the learning objectives for the lesson.
Slides 5–9
- Progress through Slides 5–6. Distribute 1 copy of Part 1: Macroeconomic Indicators Rubric to each student. Remind students the rubric is used to assess Part 1 and they should reference it as they work. Instruct students to review the rubric. (Additional explanation of the "Advanced" level is in the notes section of Instruction Slides.)
- Proceed through Slides 7–8. Review the instructions with students.
- Advance to Slide 9. Reinforce that students must locate the most recent data point for each indicator. Links to FRED® graphs are included in the electronic version of the assessment. If using the printable version, provide access to links via your LMS or distribute printed copies of the data.
- Allow students the remainder of class to work on Part 1. Circulate to supervise and clarify instructions as needed.
- Collect Part 1 of Student Assessment Template and Part 1: Macroeconomic Indicators Rubric. Score student submissions using the rubric and provide feedback for improvement (reference Exemplar and Scoring Guide as needed). Scoring note: This assessment is designed to give students flexibility — be open to unexpected connections and suggestions. Reference the Exemplar and Scoring Guide for illustrative examples of reasonable responses.
Slides 11–14 — integrate into a future lesson
After scoring Part 1, allocate approximately 10 minutes at the start or end of a future lesson to return work and orient students to the revision process.
- Display Slide 12. Instruct students to read the information on the slide as you return scored Part 1: Macroeconomic Indicators Rubric and Part 1 submissions. Remind students they may elect to revise any portion of Part 1 and resubmit it at the end of the unit for a possible score improvement. (Additional educator tips are in the notes section of Instruction Slides.)
- Proceed to Slide 13. Allow students 5 minutes to follow the instructions on the slide. Remind students that revisions are expected to be completed outside of class. Encourage students to reference Unit 3 Overview and consider which learning objectives from Lessons 3.1–3.8 to review before revising.
- Advance to Slide 14. Tell students to review the final reflection prompt (boxed in green on the slide). Remind students that if they wish to reflect on this prompt in Part 4, they will need to share scored Parts 1 and 2 with an adult and discuss the questions prior to completing Part 4.
Aligned Standards
Voluntary National Content Standards in Economics
What Educators Are Saying
Loved the addition of the economists and their studies at the end of the slides — especially how those studies could help answer some of the "Questions raised while viewing data." Love the retrieval practice at the beginning of each lesson.
The clarity of the rubric made it very easy for me to implement the assessment successfully.
I like that revision is built into this assignment.