AP ECONOMICS SUMMER ASSIGNMENT
2015-2016
This summer assignment will introduce Unit 1 of AP Microeconomics. The student will learn outside of
the classroom and be able to ask the teacher questions via e-mail. This assignment should not be
arduous and should only take two days (of working diligently): one day to watch videos and take notes,
the second day to take the quiz (after reviewing notes). Since these concepts will only cover 8-14% of
the AP Microeconomics and Macroeconomics exams, doing this project will allow more class time to
focus and practice on the crux of the tests. Coming into class with this prior knowledge is a good way to
begin the course and start the first day with a class discussion. Please follow the step by step guide to
complete the summer assignment. Email me for any questions: stinebaugha@parklandsd.org
Step by Step Guide to Completion
Step 1: Write the definition for the following words on a note card (please follow the illustrations for
note cards below):
1. Scarcity
2. Economics
3. Microeconomics
4. Macroeconomics
5. Scarcity
6. Comparative Advantage
7. Absolute Advantage
8. Economic Efficiency
9. Opportunity cost
10. Trade-offs
11. Production Possibilities Frontier (curve)
FRONT OF NOTECARD
VOCABULARY WORD
BACK OF NOTECARD
Dictionary Definition – find an online economics dictionary.
Example – Create a sentence or a scenario for the word.
Step: 2:
Watch any videos with the following basic economic concept subjects on the search field. The following
basic economic concept videos are suggestions for short snapshots of lessons. Take Cornell Notes (all
notes need to be handwritten). If students do not know the Cornell Notes Method, they can find a
multitude of examples online; for example, http://coe.jmu.edu/learningtoolbox/cornellnotes.html has a
great explanation and template. NO SENTENCES/PARAGRAPHS on the notes. Please separate the topics
per page. Make sure to include all of the graphs, models, and/or figures from the videos onto your
notes.
A. Production possibilities curve Please watch in order.
1. http://m.youtube.com/watch?v=83m0_pCky50
2. http://m.youtube.com/watch?v=6LIuLAu-KNs
B. Comparative advantage, absolute advantage, specialization, and trade
Please watch in order.
1. https://www.youtube.com/watch?v=ol4NexZ0iII&index=6&list=PLA46DB4506062B62B
(watch only until 2:36)
2. https://www.youtube.com/watch?v=FpTBjRf8lGs&list=PLA46DB4506062B62B&index=6
(watch the whole thing)
C. Economic systems https://www.youtube.com/watch?v=onRWs561XM&list=PLA46DB4506062B62B&index=4
(watch only until 8:05)
D. Marginal analysis: https://www.youtube.com/watch?v=tMhdTn-5fu8
(watch the whole thing)
Step 3:
From June 16 – September 7 , instructions for taking an online quiz will be posted on the class Website
at https://sites.google.com/a/parklandsd.net/mrs-a-stinebaugh/
Please review your notes and take the quiz prior to starting the first day.
***Please have all work completed before the first day of school. ***
Turn in the notes and notecards on the first day of school. Please staple them separately.