AP Macroeconomics
Spring 2014 Course Syllabus
Mr. Brian Zeglin
Classrooms: 7th Hour – Room 108
Contact Info
Email: Brian.Zeglin@cusd200.org
Voicemail: (630) 784-7300 x 8543
Availability: I will be available before school (6:40-7:15am) daily in room 902, with the exception of
Wednesdays on non Falcon Time mornings, and after school by appointment. Appointments can be made
via email or in person before/after class.
Course Description
AP Macroeconomics is an accelerated college level course delivering a comprehensive understanding of
the economic system as a whole. The course focuses on the study of national income, price level
determination, economic performance measures, the financial sector, stabilization policies, economic
growth, and international economics. All students who complete AP Macroeconomics will understand the
American economic system (output, unemployment, and inflation), illustrate economic concepts/events
using graphical models, apply fiscal and monetary policy to real world issues, and be prepared for the
Advanced Placement test in Microeconomics on Thursday, May 15th, 2014.
Course Materials
- Economics – Principles, Problems, and Policies, 16th Ed. McConnell & Brue. McGraw-Hill. 2005
Edition
- AP Economics Microeconomics: Student Activities, 3rd Ed. John Morton & Rae Jean B. Goodman,
NCEE, 2005.
- Favorite Ways to Learn Economics, 2nd Ed. Anderson, David & James Chasey. Thomas SouthWestern Corp., 2006
- Naked Economics, Wheelan, Charles. New York, New York, W.W. Norton and Company, 2002.
- Additional resources as recommended by instructor.
Grading Policy
Grades will be determined by the summation of points earned from exams, quizzes,
problem sets, projects, and daily assignments. Your grade is not given; it is earned
and will reflect the effort YOU choose to put into this course. All assignments are
weighted equally with the exception of the final exam which is worth 20% of the
final grade. I will make every effort to update grades every weekend via Student
View.
Grading Scale
A
B
C
D
F
100-90%
89-80%
79-70%
69-60%
59-0%
Class Work Policies
1. All work is considered late if it is turned in after the time the instructor has asked for it.
2. All assignments must have the student’s name clearly on it.
3. Students who have an excused absence will be allowed the same time frame plus one day to
complete any missed work. Please notify the instructor in advance if you know of an upcoming
absence or of any extenuating circumstances.
4. Major assignments such as problem sets, are due at the beginning of class, on the day they are due.
5. It is the student’s responsibility to be mindful of missing or absent work. Tests and quizzes must
be made up within a week of your return or will receive a zero.
6. PLEASE MAKE SURE TO REVIEW THE WNHS STUDENT HANDBOOK. Students are
expected to abide by the school rules outlined in the handbook. (i.e. academic dishonesty p.40).
MACROECONOMICS COURSE DESCRIPTION
I. Basic Economic Concepts (8-12%)
A. Scarcity, choice, and opportunity costs
B. Production possibilities curve
C. Comparative advantage, specialization, and exchange
D. Demand, supply, and market equilibrium
E. Macroeconomic issues: business cycle, unemployment, inflation, growth
II. Measurement of Economic Performance (12-16%)
A. National income accounts (4-6%)
1. Circular flows
2. Gross domestic product
3. Components of gross domestic product
4. Real versus nominal gross domestic product
B. Inflation measurement and adjustment (4-5%)
1. Price indices
2. Nominal and real values
3. Costs of inflation
C. Unemployment (4-5%)
1. Definition and measurement
2. Types of unemployment
3. Natural rate of unemployment
D. Multiplier
1. Marginal propensity
2. Actual multiplier effect
III. National Income & Price Determination (10-15%)
A. Aggregate demand (3-5%)
1. Determinants of aggregate demand
2. Multiplier and crowding-out effects
B. Aggregate supply (3-5%)
1. Short-run and long-run analyses
2. Sticky versus flexible wages and prices
3. Determinants of aggregate supply
C. Macroeconomic equilibrium (3-5%)
1. Real output and price level
2. Short and long run
3. Actual versus full-employment output
4. Business cycle and economic fluctuations
IV. Financial Sector (15-20%)
A. Money, banking, and financial markets
1. Definition of financial assets: money, stocks, bonds
2. Time value of money (present and future value)
3. Measures of money supply
4. Banks and creation of money
5. Money demand
6. Money market and the equilibirum nominal interest rate
B. Loanable funds market
1. Supply of and dmeand for loanable funds
2. Equilibirum real interest rate
3. Crowding out
Unit 1 – 1 Week
Inclusions:
Chapters: 1, 2, 3, 20
Problem Set 1
Morton Book: 1-8
ACDC Videos
Unit 2 – 3 Weeks
Inclusions:
Chapters: 7, 8, 9
Problem Set 2
Morton Activities: 11-17
ACDC Videos
Unit 3 – 4 Weeks
Inclusions:
Chapters: 10, 11, 16
Problem Set 3
Morton Activities: 20-29
ACDC Videos
Unit 4 – 3 Weeks
Inclusions:
Chapters: 13, 14, 29
Problem Set 4
Morton Activities: 34-39
ACDC Videos
C. Central bank and control of the money supply
1. Tools of central bank policy
2. Quantity theory of money
3. Real versus nominal interest rates
V. Inflation, Unemployment, and Stabilization Policies (20-30%)
A. Fiscal and monetary policies (15-20%)
1. Demand-side effects
2. Supply-side effects
3. Policy mix
4. Government deficits and debt
B. Inflation and unemployment (5-10%)
1. Types of inflation
a) Demand-pull inflation
b) Cost-push inflation
2. The Phillips curve: short run versus long run
3. Role of expectations
VI. Economic Growth and Productivity (5-10%)
A. Definition of economic growth
B. Determinants of economic growth
1. Investment in human capital
2. Investment in physical capital
3. Research and development, and technological progress
C. Growth policy
D. Productivity
VII. Open Economy: International Trade and Finance (10-15%)
A. Balance of payments accounts
1. Balance of trade
2. Current account
3. Financial account (Fromerly - capital account)
B. Foreign exchange market
1. Demand for and supply of foreign exchange
2. Exchange rate determination
3. Currency appreciation and depreciation
C. Imports, exports, and financial capital flows
D. Relationship between international and domestic financial and goods markets
Unit 5 – 1 Week
Inclusions:
Chapters: 12 & 15
Problem Set 5
Morton Activities: 30-33,
40-45
ACDC Videos
Unit 6 – 1 Week
Inclusions:
Chapters: 17, 18, & 19
Problem Set 6
Morton Activities: 47
ACDC Videos
Unit 7 – 1 Week
Inclusions:
Chapters: 6, 37, & 38
Problem Set 7
Morton Activities: 49-55
ACDC Videos