Archbishop John Carroll High School
Course Syllabus – AP Macroeconomics
Course Information
Track AP
Room 224 & 316
Periods 2 & 7
Teacher Information
Mr. Devin Gallagher
DGallagher@jcarroll.org
Classroom Site: PatriotechLearning.com
Course Description
The AP Macroeconomics course provides students with a broad introduction to the field of
macroeconomics, one of the social sciences. Ultimately, the student will gain an understanding of
aggregate economic activity and be able to critically determine whether economic progress can be made
based on the economic decisions made by policy makers. Students will frequently be asked to generate
charts and graphs to describe economic concepts.
Course Planner
Unit One- Basic Economic Concepts, Including Measuring Economic Performance
Chapters 1, 3, 4, 20, 21, & 22
Unit One focuses on basic economic concepts, including demand, elasticity of demand, supply,
scarcity, opportunity cost, and marginal analysis. We will review as part of an in-class discussion the
mechanics of the production possibilities curve as they exemplify the tradeoff between choices, the
advantages of specialization and the concept of comparative advantage which forms the basis for
specialization and trade. We will examine how the market system is one method for determining
consumer choice.
Unit Two- Aggregate Demand and Aggregate Supply: Fluctuations in Outputs and Prices
Chapters 28 & 29
Unit Two forms the core of the study of macroeconomics. The unit begins by using the simple
Keynesian model as the transition from national income accounting to modeling the economy. This model
will provide you with a clear mechanism for learning about the consumption function and the multiplier
process. However, we will then transition to the aggregate demand and aggregate supply model where
price level and output are determined. The unit concludes with analysis of fiscal policy.
Unit Three- Money, Monetary Policy, and Economic Stability
Chapters 25, 26, & 27
This unit explores the role of money in the economy. Basic concepts that are covered include the
definition of money, the functions of money in the economy and how the money supply is influenced by
the central bank and the banking system. The unit discusses how the banking system influences the
money supply through loans to businesses and consumers and how the fractional reserve system works. It
also examines the role of the Federal Reserve System, the central bank of the United States. Many
misconceptions surround money, and by the end of this section you should have a better grasp of the role
of money and the relationships among monetary policy, the banking system and the economy.
Unit Four- Monetary and Fiscal Policy Combinations: Stabilization Policy in the Real World
Chapters 24, 30, & 31
This unit brings the policy elements of Units 2 and 3 together, expands on related issues,
introduces economic growth and provides the basis for poilicy discussions among economists. We begin
by reviewing monetary and fiscal policy tools and raise the issue of lags in policy decision-making and
implementation in the economy. This includes a discussion of crowding-out, a primary argument used by
some economists to dismiss the positive effects of fiscal policy.
Unit Five- International Economics
Chapter 33
In this unit we will introduce the international sector into the closed economy discussed in Units 1
through 4. We will review the concepts of comparative advantage and production possibilities. We will
analyze the effects of government intervention in international trade and examine the basic components of
international finance, including balance of payments accounts and foreign exchange markets. We will
investigate two types of policies: trade policies and domestic stabilization policies, especially combined
with the influence of domestic monetary and fiscal policies.
Student Evaluation
Tests & Quizzes
Project
Homework & Assignments
In-Class Participation & Exercises
50%
20%
20%
10%
One large project will be given each quarter. All other presentations, papers, and homework will
contribute to the Homework & Assignments portion of a student's grade. A student may only be eligible
for an extra credit assignment if their daily participation average is 3 or better.
Daily Participation Grades will be recorded as follows:
4- Asked on-topic questions leading class into engaging discussions; frequently volunteered
3- Volunteered in class at least once
2- Remained unengaged throughout class
1- Was doing non-class related activities (playing on phone, sleeping, being disruptive)
Classroom Requirements
As this is an AP course, students will be treated in a way that will prepare them for college. This
may include but is not limited to being expected to remember due dates without being reminded daily,
obtaining notes or assignments from a peer when absent, and students taking the initiative themselves to
come to me for external help in class. Being absent may not be an excuse for handing in an assignment
late. Students may submit any assignments electronically via email if absent by 4:00 p.m. to not be
considered late.
Makeup tests and quizzes must be taken within one week of original test date before or after
school hours. Makeup assessments may vary from the original given in class as to deter academic
dishonesty. It is the burden of the student to make arrangements for the makeup test before the deadline.
Failure to reschedule in time may result in a failing grade for the assessment.
Use of personal electronic devices such as tablets and smart phones will be permitted for note
taking and other class-focused uses. Using devices for non-class related activities may directly affect a
student's participation grade.
Please check and sign below
______________I have read the information and I fully understand what I’m expected to do in class.
Student Signature: ____________________________________
Parent / Guardian Signature: ___________________________________