LESSON PLAN IN ECONOMICS DATE: October 7, 2015

I. OBJECTIVES: At the end of the lesson, the student should be able to:

Differentiate GNP from GDP

State the importance of national income

Solve the Potential and Nominal GNP

II. SUBJECT MATTER:

Topic: NATIONAL ECONOMY

Values Focus: Thrifty

Reference: Economics: Antonio, Eleanor D., Rex Bookstore. 856 Nicanor Reyes St. St. Manila Philippines.
1999.

Instructional Materials: Calculator

III. LEARNING PROCESS

A. PREPARATION:
1. Explore/ Review
What are the important sectors of the economy? State their importance to the economy?

2. Motivation
Give the acronym of the following:
GDP
GNP
NI

B. PRESENTATION:
Presentation of lesson/ Cases/ Analysis ( Major Topics/ Subtopics)

National Economy
National Economy Characteristics
GNP
GDP
Potential GNP
Nominal GNP
 C. APPLICATION (SYNTHESIS)

Based on the discussion how do you describe our GNP and GDP?

D. GENERALIZATION (CONCEPT)
Gross National Product (GNP), term in economics used to describe in monetary value the total
annual flow of goods and services in the economy of a nation. The GNP is normally measured
by totaling all personal spending, all government spending, and all investment spending by a
nation's industry both domestically and all over the world. Most industrialized countries,
including the United States, now use the gross domestic product (GDP) as their chief
economic indicator. The GDP measures the value of all goods and services produced within a
nation's borders regardless of the nationality of the producer.
GNP can also be figured by the earnings and cost approach of accounting, in which are added
together all forms of wages and income, such as corporate profits, net interest returns, rent,
indirect business taxes, and unincorporated income. Both methods produce the same result.

E. EVALUATION

Compute the GNP and GDP Growth

Indicators 2002 2003 2004
GNP at Current Price (million) 458,344 543,563 654,450
GNP at Constant Price 283,342 288,500 290,000
GDP at Current Price 451,902 522,340 635,340
GDP at Constant Price 198,566 210,000 217,220

IV. ASSIGNMENT/ HOMEWORK

In notebook write the meaning of the following:

1. Currency
2. Purchasing Power of Peso
3. Money