Low Unemployment. Chapter 17 Introduction IB Economics. What is unemployment?. Take 3-5 minutes to read the article excerpt on page 203. In your notes, write the three points from the article you think are important. . Important Points . Unemployment means just what it says—”jobless”
Chapter 17 Introduction
Take 3-5 minutes to read the article excerpt on page 203.
In your notes, write the three points from the article you think are important.
According to the International Labour Organization (ILO), unemployment is defined as:
People of a working age who are without work, available for work, and actively seeking employment.
The unemployment rate is the number of people who are unemployed expressed as a percentage of the total labour force.
People are part of the labour force if they are of working age and are employed or actively seeking employment.
We’re going to conduct an unemployment simulation. First, copy the following table into your notes:
Assume our classroom is an economy. The number of students in class today would be our total population.
You will receive a card with a situation on it, such as, “You are working full time”. Take a second and make up a story for yourself, such as “I work at the Berlin Zoo as a full-time unicorn trainer.”
Do not let anyone else see your position.
You will now walk around and interview everyone else in our economy. Pretend we’re at a boring party and you want to know what everyone else does. You will ask them, “So, what do you do for a living?” (This is what happens at boring parties.)
Do not tell them, “I am working full-time”, but respond with the story you have made up for yourself. “I work at the Berlin Zoo as a full-time unicorn trainer.” Feel free to ask one or two follow up questions if needed or just for fun.
Record your data as you talk to people. Make sure you have spoken to everyone in our class.
Once you’re finished interviewing everyone, sit down and fill out your chart. Remember the formula for the unemployment rate would be
You have 10 minutes to speak to everyone and complete your table.