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Lesson Plan

Khan Academy: Using a Person's Budget to Understand the Balance of Payments

Curated by ACT

Just like a personal budget, the balance of payments uses the sources of funds and uses of funds to track the movement of money. In this article, we use a young wizard's budget to make the balance of payments more relatable. This resource is designed as a review for the AP Macroeconomics Test or a college-level macroeconomics course.

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Concepts
economics, economy, international trade, macroeconomics
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Additional Tags
balance of payments, budget, international finance, ap macroeconomics, khan academy, khan academy: using a person's budget to understand the balance of payments, open economy, open economy: international trade and finance, using a person's budget to understand the balance of payments
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Classroom Considerations
  • Knovation Readability Score: 5 (1 low difficulty, 5 high difficulty)
  • The intended use for this resource is Instructional