Podcasts in the Classroom - What’s “up” with Inflation? March 2022 Update
This series is designed to bring together a variety of shorter, readily available podcasts to introduce a topic from recent headlines and inspire discussion.
Last November, we released a Podcasts in the Classroom on inflation when inflation spiked to a 30-year high. Inflation, coupled with staff shortages and the great resignation, has affected not only the cost of goods but the cost of services.
Here are some 2-4 minute Marketplace podcasts discussing these headlines.
- 2/22 Marketplace Inflation’s already increasing the cost of goods. The cost of services could be next.
- 2/18 Marketplace Do consumers expect discounts when inflation is running hot?
- 2/15 Marketplace How the high quit rate stokes inflation
Here are some relevant Marketplace Minute podcasts.
- 3/7 Morning Briefing Oil tops $140/barrel and gasoline tops $4/gallon.
- 3/4 Closing Bell Jobs increased 678,000 and unemployment at 3.8%
- 3/4 Morning Briefing Oil prices and other commodity prices rise as war in Ukraine intensifies.
- 2/25 Closing Bell Consumer prices rise but so does consumer spending.
Determine how much time you want to devote to this activity, and select podcasts to provide students with background information.
Have students then tackle these discussion questions. This can be done individually, in groups, or as a class.
- Have you noticed cost increases for things you typically buy? Are you seeing fewer promotions in stores?
- Have you noticed prices go up in the restaurants and coffee shops you go to? Do you think increased food prices or increased staffing costs are more to blame for the increase?
- Inflation is felt in very different ways across countries, regions, and even individual families. Examine the increase in the price of a commodity, for example, oil and gas, and discuss how this may impact your family differently than a friend or family member who lives somewhere else or has a different work/living situation.
- As supply chain issues resolve over time, do you think the rate of inflation will return to where it was before the pandemic? What do you think may prevent that from happening? (You can draw on some supply and demand examples to explain this.)
If you use this assignment in your class, please let us know how it went!