Advanced Placement Microeconomics—Florida Virtual
Pre-Requisites:
Credits: 0.5 (per segment)
Estimated Completion Time: 1 segment / 16-18 weeks
Earliest Start Date: July 2015
Description
You traveled to the Micro Islands to assist the leader in winning re-election. You came for a job, but you realized as you were
working that you loved the islands and wanted to make your home there. Because you are adept at giving economic advice to
the leader, you have been appointed as the new President of the Sunny Seas Shell Company.
As part of your role in assuming the leadership duties of the company, you will need to brush up on microeconomics. The
Board of Directors has appointed Ms. Equilibrium to act as your personal assistant and advisor as you transition into your new
role. You will be learning all you can about microeconomics and will be required to exhibit your knowledge in May at the
annual Board of Directors’ meeting (the AP Exam).
Access the site link below to view the standards from the Florida Department of Education:
Course description: http://www.cpalms.org/Courses/PublicPreviewCourse585.aspx
Access the site link below to view the PDF of the course description from the College Board:
http://apcentral.collegeboard.com/apc/public/repository/ap-economics-course-description.pdf
Note: This course meets the Economics high school graduation requirement.
Major Topics and Concepts
Segment 1:
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Economic Basics
Production Possibilities Frontier
Types of Economic Systems
Economic Reasoning Activity
Absolute vs. Comparative Advantage
Understanding Economic Basics
Equilibrium
Shifts in Supply and Demand
Models of Consumer Demand
Excise Tax
Production Costs
Production Curve Graph
Perfect Competition
Short and Long Run
Consumer and Producer Surplus
Monopolies
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Monopolistic Competition
Oligopoly
Market Structure
Circular Flow
Marginal Productivity Theory
Determinants of Demand and Resources
Wages
Outsourcing
Private vs. Public Goods
Externalities
Economic Situations: Environment and
Government
Introduction to Taxes
Income Distribution
Guided Review
Required Materials
Course Objectives
Grading Policy
Besides engaging students in challenging curriculum, the course guides students to reflect on their learning and evaluate their
progress through a variety of assessments. Assessments can be in the form of practice lessons, multiple choice questions,
writing assignments, projects, research papers, oral assessments, and discussions. This course will use the state-approved
grading scale. Each course contains a mandatory final exam or culminating project that will be weighted at 20% of the
student’s overall grade.
Additional course requirements may exist based on specific expectations for individual courses. More information can be
found in FLVS policy documents, published at www.flvs.net, or by referring to the course instructor after registration.
Advanced Placement Policy
Students entering high school grades 9-12 have access to Advanced Placement courses that may result in earning college
credit for high school coursework. These courses are used to calculate overall Grade Point Average (GPA) and typically count
extra in the calculation. These courses are also available at no charge to Florida public school students, whereas they may
have a tuition cost if taken in college. (S. 1003.02, F.S.)
A passing grade in the course will be accepted for high school credit. Postsecondary institutions determine college credit
awarded, based on the AP Exam score earned. FLVS strongly encourages students who take AP courses to sit for the course
AP Exam in May. Students shall be exempt from payment of any fees associated with AP Exam participation, with the
exception of late test registration fees incurred by the student.
Communication Policy
Besides engaging students in challenging curriculum, FLVS guides students to reflect on their learning and to evaluate their
progress through a variety of assessments. Assessments can be in the form of self-checks, practice lessons, multiple choice
questions, writing assignments, free-response essays, Discussion-Based Assessments, and discussions. Instructors evaluate
progress and provide interventions through the variety of assessments built into a course, as well as through contact with the
student in other venues.
College Board has authorized FLVS to use the AP designation. AP and Advanced Placement are registered trademarks of
The College Board.