One of the student learning outcomes of this course is to “Engage in dialogue to discuss practical applications of market models and the merits of policy choices, especially as they may relate to concepts of socio-economic welfare (income distribution, job growth, labor conditions and wage equity, taxation, sustainable development etc.)”
Listen to this podcast and learn how the CPI is calculated in practice from an actual employee of the BLS. Are you surprised at the difficulty of this work, and does this real world account help you in adding depth to your understanding from the lecture handouts on the price index?
Another thing to consider: We can all see that prices have risen drastically for many categories across the board. How has that affected your family budget and the choices and sacrifices you have had to make?