Ms. Snyder
AP Microeconomics
2013-2014
Course #02__
AP Microeconomics Course Syllabus
I.
SCHOOL PROFILE
Hillcrest High School is located in Country Club Hills, IL. It is a public high school that serves 1100 students
from grades 9-12. My email is csnyder@bhsd228.com. Please check the website frequently for assignments
and related PowerPoints.
II.
OVERVIEW OF ADVANCED PLACEMENT MICROECONOMICS
A. Program: Advanced Placement Microeconomics is offered to high school seniors. The
school has opened enrollment in its honors classes, as well as to students that show
aptitude in Social Studies classes. The school recommends that students earn at least a A- B
in an honors course or an A-B in a regular social studies course when she or he elects the AP
course.
B. AP Class Size: 25-30 students per class
C. Curricular/Skill Requirements
1. Demonstrate economic questioning and analysis skills.
2. Interpret a variety of graphical models, and paraphrase economic concepts.
3. Analyze the development of modern economic theory.
4. Explain the basic connections between economics and calculus.
5. Use and interpret the language of business and basic measurements of economics
performance.
6. Apply economic skills and concept knowledge to higher college level economic
courses.
D. Course Description
1. Students will learn about basic economic concepts such as scarcity, choice and
opportunity cost. They will know about the nature and function of product markets
including, supply and demand, elasticity, consumer choice, firm production costs and
revenues, pricing, perfect competition and imperfect competition. Students will
understand the factor markets that influence the economy such as derived demand
and factor pricing. Students will be exposed to the history of economic thought
including theories of Adam Smith, Thomas Malthus, David Ricardo, Karl Marx and John
Maynard Keynes. Students will know about the role of government, such as
government regulation, public goods, externalities and distribution of wealth and how
gains from trade can result in absolute or comparative advantage for our country.
A. Graphing Focus: Approximately 25% of the AP Exam will address reading and interpreting
graphs, some of the skills taught will include: how to generate, interpret, label and analyze
graphs, charts and data to describe and explain economic concepts.
B. Grading:
2. Chapter assignment sheets or Reading Guides will be provided and due at the end of
every unit of study. These chapter sheets are to coincide with the daily readings.
3. Outside readings from other sources (primary and secondary), along with reading
questions will be due at the end of the unit of study.
Ms. Snyder
AP Microeconomics
2013-2014
Course #02__
4. Students will be responsible for keeping up with readings and be aware of, and ready
for, quizzes and tests.
5. Class will be a combination of lecture, coverage of discussion questions and answering
student questions. This will require student participation for discussion and debates.
6. All tests will mirror the AP Exam; there will be multiple choice exams, essay exams,
and Graph exams.
7. These exams will be given at the end of every unit of study.
C. Study Techniques:
8. The reading load is considerable; it is the responsibility of the student to keep up.
9. Time management is an essential skill for this class.
10. Students will get used to the workload, DO NOT GIVE UP.
11. Keep working to get better, if you need help come and see me.
D. Grading: The grading scale is as follows:
12. A= 100%- 90%
13. B= 89%-80%
14. C= 79%-70%
15. D= 69%-60%
16. E= 59%-0%
17. This scale applies to tests, quizzes and assignments, on a 5.0 scale.
E. Attendance: Attendance in this class is essential. Much of the material for success is
provided through lecture/discussion. Missing class can create problems.
F. Advanced Placement Exam: The AP Exam is given in May. Registration for the exam takes
place in January- February. Although taking the exam is not required, it is highly
recommended and may earn you college credit.
III.
COURSE OUTLINE – ONE SEMESTER
QUARTER ONE
A. UNIT 1 – Basic Concepts/Foundations of Economics (2 weeks)
1. Key Topics: Scarcity, choice, opportunity cost, PPF, Basic Marginal benefit, Basic
Marginal Cost Analysis, and other decision making costs.
2. Chapter Readings:
a. Ch. 1 – Getting Started
a. Ch.1 – Appendix: Making & Using Graphs
b. Ch.2 – The U.S. & Global Economies
c. Ch. 3 – The Economic Problem
3. Assignments/Assessments:
a. Readings (Chapter & Outside Sources)
b. Graphing Assessments
c. Unit Assessments
Ms. Snyder
AP Microeconomics
2013-2014
Course #02__
B. UNIT 2 – Supply and Demand (3 weeks)
1. Key Topics: Demand, Law of Diminishing Marginal Benefits, Supply, Consumer and
Producer Surplus, Consumer Choice/ Optimal Purchase Rule, Allocative Efficiency
Deadweight Loss, Elasticity, total Revenue Test, Price Discrimination, Price Floors and
Ceilings, Efficiency versus Equity.
2. Chapter Readings:
a. Ch. 4 – Demand & Supply
b. Ch. 5 – Elasticity of Demand & Supply
c. Ch. 6 – Efficiency & Fairness of Markets
3. Assignments/Assessments:
a. Readings (Chapter & Outside Sources)
b. Graphing Assessments
c. Unit Assessments
C. UNIT 3 – Role of Government (3 weeks)
1. Key Topics: Government roles, public v. private goods, marginal Social Cost/ Marginal
Social Benefit Analysis, Market Failures, Positive and Negative Externalities, Taxes,
Free Riders and “Tragedy of Commons” (Market Failures).
2. Chapter Readings:
a. Ch. 7 – Government Actions in Markets
b. Ch. 8 – Taxes
c. Ch. 9 – Global Markets in Action
3. Assignments/Assessments:
a. Readings (Chapter & Outside Sources)
b. Graphing Assessments
c. Unit Assessments
QUARTER TWO
D. UNIT 4 – Costs and Revenues (3 weeks)
1. Key Topics: Laws of Diminishing Marginal Returns, Economies of Scale, Costs (fixed,
variable, marginal), Cost Curves (relationship between curves), Total and Marginal
Revenues, Profit and Loss (MR/MC and TR/TC), Break-Even, Shut Down, Economic
Profit versus Normal Profit.
2. Chapter Readings
a. Ch. 10 – Public Goods & Public Choices
b. Ch. 11 – Externalities & the Environment
c. Ch. 12 – Consumer Choice & Demand
3. Assignments/Assessments:
a. Readings (Chapter & Outside Sources)
b. Graphing Assessments
c. Unit Assessments
Ms. Snyder
AP Microeconomics
2013-2014
Course #02__
E. UNIT 5 – Costs & Markets (3 weeks)
1. Key Topics: Assumptions, Relationship between Industry and Firm, Profit
Maximization, Long-Run Equilibriums, and the Adjustment Mechanism, Allocative
Efficiency, Relationship between Price and MR, Barriers to Entry, Profit maximization,
Monopoly, Regulation, Natural Monopoly, Oligopoly and Duopoly Game Theory with
Game Tree and Pay off Matrix, Collusive Oligopoly, Monopolistic Competition (long
run and short run).
2. Chapter Readings:
a. Ch. 13 – Production & Cost
b. Ch. 14 – Perfect Competition
c. Ch. 15 – Monopoly
3. Assignments/Assessments:
a. Readings (Chapter & Outside Sources)
b. Graphing Assessments
c. Unit Assessments
F. UNIT 6 – Factor Markets (2 weeks)
1. Key Topics: Factors of Production (review definitions of marginal revenue, marginal
product, and the law of diminishing marginal returns), Derived Demand, Marginal
Revenue Product Analysis, and Optimal Purchase rule, Perfectly Competitive Factor
Markets, Profit Maximization/Cost Minimization Rules, Monopsony, Economic Rent,
Distribution of Income Among Factors, Unions.
2. Chapter Readings
a. Ch. 16 – Monopolistic Competition
b. Ch. 17 – Oligopoly
c. Ch. 18 – Markets for Factors of Production
3. Assignments/Assessments:
a. Readings (Chapter & Outside Sources)
b. Graphing Assessments
c. Unit Assessments