Students learn a lesson about stagflation, its definition, causes, and effects on their daily life and finances. In this overview, viewers will explore the economic condition where stagnant growth meets rising inflation.

The lesson covers the definition of stagflation, its causes such as supply shocks and policy missteps, and the personal consequences like higher living costs and fewer job opportunities. It also includes essential strategies for managing money and personal finances during these challenging times, such as securing income, investing wisely, budgeting effectively, and implementing saving tips. This content is crucial for anyone aiming to comprehend how economic trends can impact their financial stability and lifestyle directly. Economics 101.

CONCEPTS

Use this video lesson on the topic of stagflation. Learn basic related concepts of

• Job Security
• Income Diversification
• Budget Management
• Investment Planning
• Saving and Investing
• Risk Management
• Income and Careers
• Spending and Saving
• Financial Decision Making
• Risk and Return
• Savings Strategies

GRADE LEVEL

9-12th grades. High School. Adult Education.

TIME REQUIRED

30-45 Minutes. It may be necessary to adjust the lesson plan and allocate more or less time to certain topics, depending on the needs and interests of the students. More in-depth lesson plan below will be longer.

PROCEDURE

Hand out the worksheet below (see the GET LESSON button near the bottom of the page).

Show students the video and have and have them complete the worksheet.  Review the questions on the worksheet.  For a more in-depth lesson, complete the lesson plan below.

What Is Stagflation and How Does It Affect You?

After watching the video, ask students to summarize the main points made in the video.

 

Lesson Plan: Understanding Stagflation

 

Objective:

• To understand the concept of stagflation, its causes, and its effects on the economy and individual financial decisions.
• To explore historical examples and discuss strategies for managing personal finances during periods of stagflation.

Materials Needed:

• Access to the “What is Stagflation?” video
• Whiteboard and markers
• Handouts with discussion questions and activity instructions
• Computers or tablets for quiz (optional)

Class Structure:

• Introduction (5 minutes)
• Video viewing (15 minutes)
• Discussion (20 minutes)
• Group Activity (15 minutes)
• Wrap-up and Homework Assignment (5 minutes)

Activities:

1. Introduction:
   • Briefly introduce the topic of stagflation.
   • Explain the importance of understanding economic conditions and their personal impacts.
2. Video Viewing:
   • Watch the video “What is Stagflation?” as a class.
   • Encourage students to take notes on key points mentioned in the video.
3. Discussion:
   • What are the main characteristics of stagflation?
   • Discuss the causes of stagflation mentioned in the video and any additional factors students might think of.
   • How does stagflation impact individual financial decisions?
   • Explore the strategies mentioned for managing finances during stagflation.
4. Group Activity:
   • Divide the class into small groups.
   • Each group will choose a historical period of stagflation and research its causes, effects, and how it was managed.
   • Groups will prepare a short presentation to share their findings with the class.
5. Wrap-up and Homework:
   • Summarize the day’s learning and answer any remaining questions.
   • Assign students to write a brief essay on how they would personally manage their finances during a period of stagflation, using information learned from the video and class discussion.

Assessment:

• Conduct a quiz based on the video content to ensure understanding of the key concepts of stagflation.

Lesson Resources

• What Is Stagflation and How Does It Affect You? A Simple Guide for Beginners