AP Macroeconomics
AMHS Mrs. Osborne Rm. 301 - Planning Per. 5
The aim of this AP Macroeconomics course is to provide the student with a learning experience equivalent to
that in a typical college introductory macroeconomics course. In this one semester plus one quarter course,
students will prepare for the AP Macroeconomics Exam and post-secondary economic education by;
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Mastering economic thinking and decision-making.
Learning to support and explain concepts with both written responses and a variety of graphical models.
Demonstrating understanding of the connections between economics and math.
Understanding the general development of modern economic theory.
Becoming familiar with the basic language of business and economists and being able to understand the
basic measurements of economic performance in printed media.
Macroeconomics focuses on how the economic system works as a whole. Students study how the
economy is measured by using concepts such as gross domestic product (GDP) and other indicators.
Students engage in decision-making processes to create an environment where high employment and
a higher standard of living are achievable by using the economic tools of fiscal and monetary policy.
Graphing and data interpretation will be key tools to use in understanding how the economy operates.
After the AP College Board examination, this course will spend approximately one quarter studying
microeconomics at an upper-level high school elective level.
The Examination:
The Examination is scheduled on May 16th, 2013 at 8:00am. The College Board exam is parceled into
two sections. You will have 70 minutes to answer 60 multiple choice questions; no points are
deducted for incorrect answers, so it is recommended to you answer all the questions. You also have
60 minutes to answer three Free Response Questions; you have a ten minute reading period, then 50
minutes to write your answer to one long answer question and two short answer questions. Students
will spend four full weeks reviewing for the College Board exam in May.
Student Evaluation:
Grading Scale
AMHS Social Studies Grading Categories
A
100% - 93%
C
76.9% - 73%
Assessments
80%
Unit exams, chapter quizzes & projects
A-
92.9% - 90%
C-
72.9% - 70%
Class Work
20%
B+
89.9% - 87%
D+ 69.9% - 67%
Daily assignments, homework, reading
quizzes, discussion participation, good
citizenship
B
86.9% - 83%
D
66.9% - 60%
B-
82.9% - 80%
F
59.9% - 0%
C+
79.9% - 77%
1
Your grades are based on the following: daily quizzes, chapter vocabulary quizzes, unit exams, and
participation including citizenship.
A. On every day that homework is due, expect a
B. After each chapter (not unit), expect a vocabulary quiz. Vocabulary is essential to succeeding on the
AP test!
C. The unit tests will consist of approximately 50% multiple choice questions and 50% free response
(by points). Please avoid being absent on test days!
a. After each unit, expect a 60-question multiple choice test and
b. 1 long answer and 1 short answer free response questions
D. You will be scored on class participation, including, but not limited to, discussion, question-andanswer, note taking, and respectfulness of myself and your classmates.
E. At the end of the course work we will: review all four units, take practice multiple-choice tests, and a
practice additional free response questions.
Required Materials
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A binder or folder to keep notes, graphs, handouts, tests and quizzes until after the AP test
Pencil(s), blue and black pens, a ruler, paper (you may wish to bring graph and lined paper)
Bring homework notes to class
Course Study
The College Board has divided AP Macroeconomics into four units and each unit is weighted as to its
percentage of representation on the AP test. Unit Two is exceptionally large, so for the purposes of this
class it will be divided into four sub-units. Therefore, we will spend the appropriate percentage of time
on each unit according to AP prescribed formula:
UNIT
UNIT TITLE
%
CHAPTERS
Unit 1
Basic Economic Concepts
8-12%
1 & throughout text
Unit 2
Measurement of Economic Performance
12-16%
24, 26
Unit 3
National Income and Price Determination
10-15%
29, 30
Unit 4
Financial Sector
15-20%
14, 31, 34
Unit 5
Inflation, Unemployment and Stabilization Policies
20-30%
26, 35, 36
Unit 6
Economic Growth and Productivity
5-10%
13, 14, 25
Unit 7
Open Economy: International Trade and Finance
10-15%
24, 37, 38
Course Outline
Unit I – Basic Economic Concepts
A.
B.
C.
D.
E.
Scarcity, choice, and opportunity cost
Production possibilities curve
Comparative advantage, absolute advantage, specialization and exchange
Demand, supply and market equilibrium
Macroeconomic issues: business cycle, unemployment, inflation, growth
Unit II – Measurement of Economic Performance
A. National income accounts
B. Inflation measurement and adjustment
C. Unemployment
Unit III – National Income and Price Determination
A. Aggregate demand
B. Aggregate supply
C. Macroeconomic equilibrium
Unit IV – Financial Sector
A. Money, banking and financial markets
B. Central bank and control of the money supply
Unit V – Inflation, Unemployment and Stabilization Policies
A. Fiscal and monetary policies
B. Inflation and unemployment
Unit VI – Economic Growth and Productivity
A.
B.
C.
D.
Investment in human capital
Investment in physical capital
Research and development and technological progress
Growth policy
Unit VII – Open Economy: International Trade and Finance
A.
B.
C.
D.
Balance of payments accounts
Foreign exchange market
Net exports and capital flows
Links to financial and goods markets
AP Macroeconomics Calendar Outline
Unit 1
9/6/2012-9/26/2012
Unit 5
1/29/2013-3/6/2013
FRQ
9/25/2012
FRQ
3/5/2013
M/C Test
9/26/2012
M/C Test
3/6/2013
Unit 2
9/27/2012-10/26/2012
Unit 6
3/7/2013-3/19/2013
FRQ
10/25/2012
FRQ
3/18/2013
M/C Test
10/26/2012
M/C Test
3/19/2013
Unit 3
10/29/2012-11/29/2012
Unit 7
3/20/2013-4/5/2013
FRQ
11/28/2012
FRQ
4/4/2013
M/C Test
11/29/2012
M/C Test
4/5/2013
Unit 4
11/30/2012-1/18/2013
Review
4/15/2013-5/15/2013
FRQ
1/17/2013
AP Test
5/16/2013 at 8:00 am
M/C Test
1/18/2013
Teaching Strategies:
Use AP Exam problems in class. At least two to three days a week, students will have 10 to 15 minutes to
practice old AP free-response questions. Students may work in small groups at the beginning of the course; as
their ability progresses, students are expected to work on the questions by themselves. Throughout the period,
students will put their answer on the board. The purpose of the public practice and assessment are to:
1) Assess common misunderstandings - This serves as a formative assessment; if several groups or students
have similar mistakes, then we have data to show which ideas to review or re-teach.
2) Practice proper AP exam skills - This helps students know how to pace themselves for the actual exam.
Give lesson previews. Relevant scenarios will be provided at the beginning of each concept so students can
apply each academic idea to a real life situation. Since students have already seen the big-picture ideas, it
should help direct focus when they begin their independent study and practice.
Cover the Basics. At the beginning of the course, we will spend more time at the beginning reviewing and
ensuring that as many students as possible are understand the basics of economics such as opportunity cost,
supply and demand, and the cost curves. Staring with these concepts should save time later, allowing us to
spend more time focusing on the more challenging concepts later. Students should be able to pick up new
topics quickly if they are well grounded in the basics.
Graphs and Charts – Students will spend class time and independent study analyzing and making charts and
graphs for multiple situations in each unit.
Use the newspaper and the internet. Real life economic applications and scenarios serve as excellent
motivators for students’ progression. This class will use scholarly articles, both scientific and editorial, that deal
with the local, national and global economy.
Quiz often. On top of traditional summative quizzes and tests, students are expected to participate in daily
discussions and exercises that will help determine mastery of concepts.
Use questions from previous AP Exams. This course will use actual questions from released AP Exams so they
will become acclimated to the terminology and the strategies that test writers use.
Use appropriate teaching resources. This course’s material is structured straight from the College Board’s
subscribed topic outline. All teach resources are scholarly, peer-reviewed, or respected journalistic resources.
All information presented to the student is accurate and relevant to student success on the AP examination and
their subsequent collegiate experience and careers.
Resources:
Texts:
Rae Jean B Goodman; John S. Morton, Advance Placement Economics: Teacher Resource Manual, 3rd Edition
Rae Jean B Goodman; John S. Morton, Advance Placement Economics, Macroeconomics Student Activities
Workbook, 3rd Edition. Microeconomics Student Activities Workbook, 3rd Edition.
Online textbook from reffonomics.com and printed accompanying packets
Media:
Virtual Economics V3 CD
The Wall Street Journal
The New York Times
The Seattle Times
The Economist
Web Sites:
AP Central College Board: http://www.collegeboard.com/student/testing/ap/sub_maceco.html?macro
National Council on Economic Education: www.ncee.net
Reffonomics Macroeconomics/Microeconomics text book: www.reffonomics.com
Resources for Economics on the Internet: www.rfe.org
Mrs. Osborne’s class webpage: http://sites.google.com/site/osborneslions/
Mrs. Osborne’s email: nosborne@auburn.wednet.edu
Follow Mrs. Osborne’s Twitter for reminders and study questions: @MrsOsborneAMHS