Lesson: National Income Economics • Third Year of Secondary School

In this lesson, we will learn how to identify the gross national income (GNI) and the gross domestic product (GDP) as measures of national income and how to characterize three different methods to measure them.

Lesson Plan

Students will be able to

understand the flow of money between households and between firms,
distinguish between the definitions and components of GNI and GDP and understand GNI and GDP as measures of national income,
understand the difference between nominal (money) GNI/GDP and real GNI/GDP,
understand the following three ways to measure GNI/GDP: output approach (production approach), income approach, and expenditure approach,
understand the relationship between national income, saving, consumption, and investment,
understand how per capita GNI/GDP is computed.