AP Economics
Mr. Bernstein
Class Outline
September 4, 2014
AP Economics
Mr. Bernstein
Overview
This is a course in theory and the economic way of
thinking more than application-based course
First AP Econ course was offered in 1989. 2,583
students took the Micro test and 3,198 took the
Macro test.
In 2012, 62,351 students took the Micro test and 99,903
too the Macro test.
(CGR = ???)
Over 3,300 high schools offer AP Micro and over 4,000
offer AP Macro (vs 13,000+ offering AP Calc and
12,000+ offering AP US History)
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AP Economics
Mr. Bernstein
Overview
Average AP scores:
80-100
A
65-80
B
50-65
C
40-50
D
2012 mean scores were 3.0 and 2.8
2012 students were ~60% male and ~80% seniors
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AP Economics
Mr. Bernstein
Course Goals
Explain Microeconomic principles such as supply and
demand, laborers and wages, and market structures
Explain Macroeconomic principles such as
unemployment, inflation, economic measurements,
and the role of government in the economy
Understand how decisions by individuals and
government affect the economy
Analyze economic models and draw conclusions from
them
Attain the necessary knowledge and skills to successfully
take the AP Economics Exam
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AP Economics
Mr. Bernstein
• 1. Course Outline
– Marking Periods 1-2: Microeconomics
– Unit 1: Basic Economic Concepts
– Unit 2: Supply and Demand
– Unit 3: Behind the Demand Curve: Consumer Choice
– Unit 4: Behind the Supply Curve: Profit, Production & Costs
– Unit 5: Market Structures: Perfect Competition & Monopoly
– Unit 6: Market Structures: Imperfect Competition
– Unit 7: Factor Markets
– Unit 8: Market Failure and the Role of Government
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AP Economics
Mr. Bernstein
• 1. Course Outline, cont.
– Marking Periods 3-4: Macroeconomics
– Unit 1: Measurement of Economic Performance
– Unit 2: National Income and Price Determination
– Unit 3: Inflation, Unemployment and Stabilization
Policies
– Unit 4: The Financial Sector
– Unit 5: Economic Growth and Productivity
– Unit 6: The Open Economy: International Trade
and Finance
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AP Economics
Mr. Bernstein
• 2. Resources
– Textbook: Krugman’s Economics for AP, 2011, Ray
and Anderson
– Reffonomics.com Economics University self-paced
quizzes
– Council for Economic Education AP Economics
Activities
– Previously released AP Economics test questions
– others
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AP Economics
Mr. Bernstein
• 3. Classroom Routine
– Daily Structure
– Behavior
– Electronic Devices
• 4. Grading
– 20% Exams / 40% Quizzes/ 20% Homework / 20% Class
Participation
– Quiz corrections, Extra Credit may be offered
– MP4 has only one quiz plus AP Exams
• 5. Makeup Policy
– Tests and Quizzes must be made up following day
– Plan ahead
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AP Economics
Mr. Bernstein
• 6. EI (Extra Instruction)
– A. Before or After school – arrange with me
– B. Extra effort will be considered
• 7. Additional Opportunities
– A. Investment Club
– B. Business Academy
– C. FBLA
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AP Economics
Mr. Bernstein
• 8. The AP Exams
– Each test is 2 hours and 10 minutes
– Test dates are Thur. May 14, 12 noon (Macro) and Fri.
May 15, 8 am (Micro)
– 60 multiple choice questions (70 minutes)
– 3 Free Response questions, 1 long and 2 short (10
minute reading time plus 50 minutes to answer)
– MC = 2/3 of grade
– FRQ = 1/3 of grade
– Average FRQ score is <50%
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AP Economics
Mr. Bernstein
• 8. Evacuation Procedure
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