Curated OER
Holiday Market Basket Information
Students practice with calculation of a price index using a fictitious market basket. They apply higher level problem-solving skills and develop an awareness of multicultural holiday rituals.
Federal Reserve Bank
Federal Reserve Bank of Minneapolis: Cpi Calculator Information
Provides a consumer price index (CPI) calculator. Enter in a dollar and year and it will tell you how much it is worth today. Also includes good links to additional CPI information resources, and a link to a mobile app.
Robert Schenk, PhD
Cyber Economics: Measuring the Economy Inflation
This site from the St. Joseph's College provides an explanation of inflation, including a section on how to calculate a consumer price index.
Other
Reference for Business: Implicit Price Deflator
A description of inflation, deflation, the consumer price index, and the implicit price deflator.
Council for Economic Education
Econ Ed Link: What Does a Dollar Really Buy?
Students will describe the purpose of a price index, and how it is calculated. Then students will describe the weaknesses of the CPI, and interpret CPI data as a measure of economic health. Finally, students will identify who is harmed...
Federal Reserve Bank
Federal Reserve Bank of Atlanta: Gross Domestic Product
Highlights the basics about GDP.
Khan Academy
Khan Academy: Lesson Summary: Price Indices and Inflation
In this lesson plan summary review and remind yourself of the key terms and calculations used in measuring inflation. Topics include the consumer price index (CPI), calculating the rate of inflation, the distinction between inflation,...
Khan Academy
Khan Academy: Adjusting Nominal Values to Real Values
When you examine economic statistics, it's crucial to distinguish between nominal and real measurements so you know whether or not inflation has distorted a given statistic. Learn how to adjust GDP numbers for inflation in this article....