A Web Quest Project in Economics for Fourth Year High School
As embodied in the consumer price index and in the purchasing power of the peso, price stability both in the short run and in the long run is an elusive dream for economic planners of the country. Sharp and erratic price changes affect all the players in the economy – the consumers thru reduced buying power and the producers thru reduced capital value. This Web Quest is a guided instruction on the factors that influence inflation and the resulting effects of price changes in the economy.
You will assume the role position of a Representative of the IMF (International Monetary Fund) which involves multiple roles as a researcher, a statistician, and as a policy maker. You will research on the status of inflation in the Philippines and how it affects the lives of people. Your output is a position paper on inflation and how to soften its impact on the economy.
It will all have to start on a basic research about inflation.
You have to assume one role from the following:
STEP 1: All About Inflation
As a Researcher, you will have to know the following:
Differentiate inflation from hyperinflation and deflation
Identify the different methods in measuring price changes
Define Consumer Price Index (CPI) and how it is measured
Define Purchasing Power of the Peso(PPP) and how it is measured
The following links to the internet will help you:
EVALUATION Category and Score 3 Very Good 2 Average 1 Poor Knowledge Gained Definitions and ramifications are complete with elaborate applications and examples Definitions and ramifications are complete Incomplete definitions and ramifications without applications and examples Content Accuracy 95% of data presented are accurate and aligned with current standards 75% of data presented are accurate 50% of data presented are accurate Policies are Feasible Policies are specific, measurable, attainable, realistic Policies are specific, measurable but not realistic Policies are out of sync with results of study