A.P. Macroeconomics
Mrs. Kirts Fall 2014
Catalina Foothills High School, Room 614
Voice Mail: (520) 209-8479
E-mail: mkirts@cfsd16.org
Website: http://sites.google.com/a/cfsd16.org/mkirts
Twitter Feed: @KirtsAPMacro
Welcome!
Advanced Placement (AP) Macroeconomics is a one-semester college-level course that focuses on economic
principles and their application to the economic system as a whole. Course content includes an introduction to
basic economic principles followed by an in-depth look at major macroeconomic goals and performance
indicators, the financial sector, monetary and fiscal policy, and foreign exchange markets. The course requires
students to demonstrate their understanding of economic principles in written work, but also graphically. The
course is aligned with the College Board’s standards and prepares students to take the AP exam.
Prerequisite: U.S. History, Humanities 11, or AP U.S. History
Credit: 0.5 credit, 1 semester
Materials
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Textbook: Ray, Margaret, David A. Anderson, and Paul R. Krugman. Krugman's Economics for AP*. New
York: Worth Publishers, 2011
Composition Notebook (preferably with pages sewn in)
Loose Leaf Paper
Pencil/Pen
USB flash drive
Glue/Rubber Cement/Tape
Dry Erase Marker
Not Required, but Greatly Appreciated: Box of Facial Tissues
Attendance
Studies have shown that one of the most powerful predictors of a student’s academic performance is
attendance. If you should happen to miss class, it is your responsibility to find out what you missed (look in the
makeup notebook before or after school/class) and see to it that missed work is completed in a timely manner.
The class website will also prove to be invaluable as tool for staying caught up.
Notebooks
This course requires that you keep all warm-up activities, notes, handouts, quizzes, and tests in a composition
notebook. An organized notebook will serve as your most useful study guide in this course.
Assessments & Grade Calculation
Each student’s course grade will be based on performance in six areas identified in the table below.
Assessment Area
% of Course
Grade
Basic Economic Concepts
10%
Measuring Economic
Performance
10%
Concepts Addressed
scarcity, incentives, economic systems, opportunity cost, absolute
advantage, comparative advantage, supply and demand
real v. nominal figures; calculating GDP, inflation, and
unemployment
Assessment Area
% of Course
Grade
The National Economy
30%
Growth and the Open
Economy
10%
Essential Skills
20%
Final Exam
20%
Concepts Addressed
national income and price determination (aggregate supply and
aggregate demand), money and the financial sector, stabilization
policies, competing economic philosophies
long-term economic growth, balance of payments accounts,
international trade, exchange rates and foreign currency markets
interpreting & producing economic charts, graphs, and tables; 21st
century skills; research skills; literacy skills
The final exam will be composed of items assessing mastery of
each of the other five areas.
There will be a variety of formative assessments– quizzes, graphing, writing assignments, etc. Major
summative assessments will take the form of AP-style multiple-choice exams, free-response questions (FRQs),
and projects (individual and collaborative). Assessments will be scored on a 4-point rubric. Rubric scores will
convert to a letter grade according to the table below.
Rubric Score
3.83
3.67 – 3.82
3.50 – 3.66
3.25 – 3.49
3.00 – 3.24
Letter Grade Conversion
A+
A
AB+
B
Rubric Score
2.75 – 2.99
2.58 – 2.74
2.42 – 2.57
2.25 – 2.41
<2.25
Letter Grade Conversion
BC+
C
CF
Students will have multiple attempts to demonstrate mastery of the course standards. Most assessments (the
final exam is excluded) may be redone (possibly in a different format) or revised and resubmitted according to
teacher instructions for full credit. Student work will also be accepted past the stated due date for full credit
provided it is submitted within 10 school days of the conclusion of the unit in which the work was assigned. If
a student does not submit an assessment it will be recorded as an N in the gradebook for “no evidence of
proficiency.” An N will be calculated as a zero in the gradebook. No student work may be submitted after the
last day of the semester.
While all assessments will have equal value in the gradebook, performance on the end-of-unit summative
assessments may have a greater influence on a student’s grade as these scores will be used to replace a
student’s lowest score in a given category for that unit. For example, if a student earned a score of 2.25 in
Economics on the Individual Level on an early assessment in Unit 1 and then scored a 3.00 in that same
category on the end-of-unit assessment, the 2.25 would be replaced with an X to allow the student to benefit
from demonstrating growth over time. Scores of N will not be replaced as an N indicates the student never
submitted the original assessment and, therefore, did not provide initial evidence of their skill level.
Student report cards will also indicate a level of student proficiency on Self Regulation, Systems Thinking, and
Citizenship in connection with this class. These scores will not appear on a student’s transcript and will be
separate from a student’s academic course grade except where they overlap with academic standards.
Course Outline
Unit 1: Basic Economic Concepts
• Concepts: scarcity, choice, opportunity cost, absolute advantage, comparative advantage, specialization,
trade, demand, supply, market equilibrium, business cycle
• Graphs: Production Possibilities Curve, Product Market (Supply & Demand) Graph
Unit 2: Measuring Economic Performance
• Concepts: circular flow, gross domestic product (GDP), calculating GDP, consumer spending, government
expenditures, investment spending, net exports, real v. nominal figures, price indices, inflation,
deflation, winners & losers in inflation, unemployment, inflation
Unit 3: National Income and Price Determination
• Concepts: aggregate demand, multiplier, crowding-out, aggregate supply, short run v. long run, sticky v.
flexible wages and prices, real output, price level, actual v. full employment, fiscal policy
• Graphs: National Economy (Aggregate Supply & Aggregate Demand)
Unit 4: The Financial Sector
• Concepts: money, stocks, bonds, time value of money, money supply, banks and the creation of money,
monetary policy, money demand, equilibrium interest rate (nominal and real), loanable funds, quantity
theory of money
• Graphs: Money Market, Loanable Funds Market
Unit 5: Stabilization Policies
• Concepts: fiscal and monetary policy short run v. long run, government debt and deficits, demand-pull
v. cost-push inflation, role of expectations
• Graphs: Phillips Curve (long and short-run)
Unit 6: Economic Growth and the Open Economy
• Concepts: economic growth, human capital, physical capital, balance of trade, current account, financial
account, exchange rate, fixed v. floating exchange rate regimes, currency appreciation and depreciation,
imports, exports, capital flow
• Graphs: Foreign Exchange Markets
Tips for Success
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Read the relevant sections of your textbook before the class period on that topic.
Visit the class website regularly.
Set aside 30 minutes most days of the week for reading and/or reviewing.
Take careful, organized notes.
Form study groups with other AP Macro students.
Ask questions and contribute to class discussions.
Consider purchasing (or borrowing from the public library) AP Macroeconomcs supplementary materials
– flashcards, test-prep books, laminated study guides, etc.
Class Expectations
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Be respectful!
Student
Teacher
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Be prepared.
Respond to student correspondence quickly.
Maintain a regularly updated website.
Be available to help students outside of
class time.
Plagiarism
Plagiarism can be defined as submitting another person’s ideas, words, images or data without giving that person
credit or proper acknowledgement. Plagiarism, a form of academic dishonesty, is tantamount to stealing and will not
be tolerated. You should be aware that you need to acknowledge sources when you:
• Use phrases, quotes, or ideas not your own
• Paraphrase the work of another even though you may have changed the wording or syntax
• Use facts or data not considered common knowledge
• Submit work originally created for another class (it is possible to plagiarize yourself)
• Submit a paper from an essay service or agency even though you may have paid for it
• Submit a paper by another person even though he or she may have given you permission to use it
• Work with a partner and hand in similar products when partner/group work has not been assigned
You should also note that plagiarism not only encompasses written work, but also computer data, research, musical
scores, video programs, and visual arts.
Plagiarism reflects on character; therefore, you should avoid inadvertent plagiarism. You will also be held responsible
for unintentional plagiarism. Plagiarism is a serious issue, especially in an academic environment. Teachers must be
able to rely on the integrity of a student’s work in order to maintain a climate for successful learning. We will discuss
methods for avoiding plagiarism as the school year progresses. When you are unsure if acknowledgement is needed,
ask your teacher.
The penalties for plagiarism begin with an automatic zero for the assignment. This may significantly lower your final
grade. Furthermore, plagiarism, a form of cheating, will automatically result in a referral to administration. Your
other teachers will be notified that the incident occurred. Serious or repeated plagiarism can result in suspension,
according to the Catalina Foothills High School conduct code.
Student & Parent/Guardian Signature Sheet – AP Macroeconomics
Student
Please sign below and return this document to class to indicate that you have read and understood the syllabus –
including the information about plagiarism.
________________________________________
Print Full Name
____________________________________
Signature
Parent/Guardian
Please sign below to indicate that you have read and understood the syllabus – including the information about
plagiarism.
________________________________________
Parent/Guardian signature
Thank you for providing the following information, which will be kept confidential. Your responses will help me, as
necessary, to stay in touch with you and to understand your student’s individual needs.
_________________________________________
Parent/Guardian preferred e-mail address
______________________________
Parent/Guardian preferred phone number
What kind of computer access does your student have at home? (Consistent, daily access; intermittent access, no
access, etc.)
____________________________________________________________________________________
What information do you feel is important for me to know about your student (i.e. special living or family situations,
recent emotional events, prior concerns with behavior, writing, or reading, etc.)? Continue on the back if more
space is needed.