Focus on Net Worth Changes after the Great Recession
This assignment provides instructions on building the graph below and includes writing prompts for out-of-class assignments.
Using GeoFRED® to Show the Homeownership Rate
This assignment provides instructions on creating the map below and suggests prompts for in-class discussion. See how you do on our sample discussion question below.
Click on the map above to view an interactive version
Question: Households have many ways of holding wealth, including by owning a home. In which state is the homeownership rate the highest?
Learning About the Economics of Wealth to Forecast Changes in GDP
In the second quarter of 2020, the value of gross domestic product decreased. Read on for more details and a list of resources to become a better FREDcast forecaster.
According to the Bureau of Economic Analysis, “Real gross domestic product (GDP) decreased at an annual rate of 32.9 percent in the second quarter of 2020.”
“The decline in second quarter GDP reflected the response to COVID-19, as ‘stay-at-home’ orders issued in March and April were partially lifted in some areas of the country in May and June, and government pandemic assistance payments were distributed to households and businesses.”
Resources to become a better FREDcaster:
- FRED® Blog: “Net worth losses in early 2020 were larger at the top“
- FRED® Blog: “Who holds what wealth?“
- Economic Synopses: “How Recessions Have Affected Household Net Worth, 1990-2017: “Uneven Experiences by Wealth Quantile“
- Economic Synopses: “Aging and Wealth Inequality“
- Page One Economics®: “Education, Income, and Wealth“
Quiz Yourself on Different Aspects of Wealth
Q1. Between 1980 and 2019, which of the past five recessions had the largest negative impact on U.S. wealth?
Q2. List the dates of three recessions between 1980 and 2019 when all-sectors U.S. wealth did not decrease.
Q1. As of the first quarter of 2020, which population group holds the most wealth in financial assets?
Q2. As of the first quarter of 2020, which population group holds the least wealth in financial assets?
Q1. As of the first quarter of 2020, which population group holds the most wealth in consumer durables?
Q2. As of the first quarter of 2020, which population group holds the least wealth in consumer durables?
Now that you’ve aced this quiz, give it to your students using this dashboard. To customize this dashboard, just click the “Save to My Account” button at the top of the dashboard.