Understanding Inflation With the Candy Price Index
Students will carry out a highly simplified version of the process used by the U.S. Bureau of Labor Statistics to calculate inflation. In doing so, students will develop an introductory knowledge of spreadsheet formulas and better understand the complexities associated with determining and interpreting inflation data. This lesson was inspired by an article in the Journal of Economic Education, included in the materials.
This lesson assumes that students have already been introduced to the concept of inflation and to the Consumer Price Index, although materials for a brief review are included.
NATIONAL STANDARDS FOR ECONOMICS EDUCATION
Money & Inflation
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