Scribd
Upload
18K views4 pages

National Income - Lesson Plan

This document outlines a 10-day economics course on National Income and related concepts for class 12 students. The general objectives are for students to understand macroeconomic aggregates, the link between financial markets and the real economy, macroeconomic theories of growth and fluctuations, and evaluate macroeconomic policy options. Specific objectives are for students to explain concepts like GDP, differentiate types of goods, and calculate national income using different methods. The course will introduce key concepts through examples and videos, explain methods to calculate national income, and include practice problems for students.

Uploaded by

Manali Pahwa
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
18K views4 pages

National Income - Lesson Plan

This document outlines a 10-day economics course on National Income and related concepts for class 12 students. The general objectives are for students to understand macroeconomic aggregates, the link between financial markets and the real economy, macroeconomic theories of growth and fluctuations, and evaluate macroeconomic policy options. Specific objectives are for students to explain concepts like GDP, differentiate types of goods, and calculate national income using different methods. The course will introduce key concepts through examples and videos, explain methods to calculate national income, and include practice problems for students.

Uploaded by

Manali Pahwa
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
  • General Objectives: Outlines the key objectives for understanding macroeconomic aggregates, exploring economic theories, and relating them to economic policies.
  • Teaching Activity Plan: Presents a day-by-day teaching plan covering topics like economic expenditure, income determination, and intersectoral flows with student-centric activities.
  • Recapitulation and Homework: Summarizes the concepts learned, encourages problem-solving practice, and sets home assignments.

Class : XII Subject: Economics- Macroeconomics

Topic: National Income and related concepts Time : 10 Days


General Objectives:

1. Students will be able to identify the determinants of various macroeconomic aggregates


such as output, unemployment, inflation, productivity and the major challenges
associated with the measurement of these aggregates.

2. Students will be able to discuss the linkages between financial markets and the real
economy, and how these linkages influence the impact of economic policies over
differing time horizons.

3. Students will be able to describe the main macroeconomic theories of short term
fluctuations and long-term growth in the economy.

4. Students will be able to critically evaluate the consequences of basic macroeconomic


policy options under differing economic conditions within a business cycle.

Specific objectives:
Students will be able to:
1. To explain the circular flow of economic activities and income.
2. To understand the concepts of aggregates, stock, flow, intermediate and final goods.
3. To differentiate among various concepts like GDPmp, NDPfc, NNPfc.
4. To calculate national income using three different methods: Income method, Value added
method and Expenditure method.

Previous knowledge:
Following questions will be asked to test the previous knowledge of the students:
1. What do you understand by total income of the country?
2. Define per capita income.
3. Differentiate between intermediate and final goods.
Introduction :
What is National Income?
Concept and Meaning of National Income
National Income is a measure of the total flow of earning of the factor-owners through the
production of goods and services. In simple words, it is the total amount of income earned by the
aggregate output.
The total value of the level of aggregate output is called Gross National Product or GNP. GNP is
a measure of the total market value of all final goods and services currently produced by all the
citizens of a nation within a period, usually a year.
Focus on the important points mentioned below:-
 It Measures how much people produce.
 It Counts current production only
 It Counts the level of output with a market value.
 It relies on the market prices of goods and services as a measure
Presentation:
Subject Matter Teaching Activity
Day 1: Examples of certain goods will be written on the
- Types of goods whiteboard and students will be told to create a table
- Concepts of Consumption expenditure and sorting the goods according to the classification.
and Investment expenditure

Day 2 A picture will be shown to show the literal meaning


- Stock and Flow of stock and flow and then the same will be related to
the economic concepts.

 Number of births
 Capital
formation/Investment

 Population
 Capital

Day 3 A video will be shown to explain the flows between


- Intersectoral Flows sectors of an economy.
- Circular flow of income
Link:
[Link]
onomy/The_circular_flow_of_income.html
Day 4 Difference between Domestic and National income
- National income and Domestic income will be explained and then the numericals using the
- Conversion of domestic income to national following formulas will be solved.
income

Day 5 Flip classroom will be done in order to discuss the


limitations of GDP as a welfare index.
- Nominal and Real GDP
- GDP Deflator Calculation of GDP deflator will be taught which will
- GDP and Welfare clear the relationship between nominal and real GDP.

Day 6 Introduction of methods for calculating national


income will be given with brain storming for
- Introduction of methods for calculating extracting the formulas from students.
national income

Day 7 Practice of numericals keeping in mind the


precautions of the method.
- Concept and precautions of Value Added
Method
- Estimation of national income using Value
Added Method
Day 8 Practice of numericals keeping in mind the
precautions of the method.
- Concept and precautions of Income
Method
- Estimation of national income using
Income Method
Day 9 Practice of numericals keeping in mind the
precautions of the method.
- Concept and precautions of Expenditure
Method
- Estimation of national income using
Expenditure Method
Recapitulation: Illustrations to be solved in the class related to the topics. Questions will be
solved by the students and doubts will be clarified.
Home assignment: To solve unsolved questions of the topic in notebook.

Class : XII Subject: Economics- Macroeconomics Topic: National Income and related concepts Time :
The total value of the level of aggregate output is called Gross National Product or GNP. GNP is a measure of the total mark
- National income and Domestic income - Conversion of domestic income to national income will be explained and then the numer
Recapitulation: Illustrations to be solved in the class related to the topics. Questions will be solved by the students an

You might also like