AP Macroeconomics
The Course:
The course of study includes advance concepts and principles of Macroeconomics. The
South Carolina Social Studies Standards will serve as a guide for the content of the
course as well as material from the College Board. Students are expected to enhance their
understanding of economics by keeping up with current events. Due to the fact that the
course is on a block class schedule, time will be an important factor. Students are
expected to complete the assigned work on time and come to class prepared to discuss the
economic issues at hand.
Required Materials:
 Text Book:
Principles of Economics. Mankiw, Greogory N.
Third Edition. Thomson South-Western. Ohio, USA: 2004
 Work Book: AP Macroeconomics: Student Resource Manual. Ray, A. Margret
4th Edition. National Council on Economic Education. New York,
New York: 2012
 A notebook that has a three-ring binder that allows papers to be added or taken
out.
 Abundant Supply of Loose Leaf paper.
 All handouts and completed assignments.
 A pencil and a blue or black pen.
Resources:
World Wide Web Resources are located at:
http://www.reffonomics.com/textbook/macroeconomics.html
http://www.apcentral.collegeboard.com/
http://www.econedlink.org/
Grading:
 Daily Grades 30% of nine weeks average
(Includes homework, class work, and class participation)
 Major Grades 70% of nine weeks average
(Includes tests and AP FRQ)
Attendance:
Students should follow the procedures for attendance that are outlined in their handbooks.
AP Economics is a semester course, therefore; students are not allowed to miss more than
six days. Make-up work is the responsibility of the student. All work, including tests, will
expire one week after they are given. If the work is not made up by the expiration date,
then a zero will be given as a grade. Tardiness will not be accepted. Students should
show up to class on time or they will be marked tardy unless they have a pass.
Course Timeline-Approximate timeline of covered topics. Teacher reserves the right to
deviate from the timeline if necessary.
Course Schedule
Unit 1
Topics
Ten Principles of
Economics, Types of
Economic Systems
Production Possibilities
Curve, Comparative
Advantage
Chapter
Reading
Chp. 1 pp. 3-15
Chp. 2. pp. 24-26
Chp 3. pp. 46-56
Textbook
Work
Pg. 16
Questions for
Review 1-10
Pg. 35,
Problems 4 and
5. (Graphing)
Pg. 57,
Questions for
Review 1-5
Demand
Chp. 4 pp. 65-71
Pg. 85,
Questions for
Review 2-5
Supply
Chp. 4. pp. 71-75
pp. 85-86.
Questions for
Review 6-8
Equilibrium, Price
Controls, Review For Test
Chp 4 pp. 75-84
Chp 6 pp. 114123
Unit One Test
None
Pg. 86,
Questions for
Review 9-10
Pg. 132,
Problems 1-3
(Graphing)
None
Workbook
Act. 1-1: Do You
Think Like an
Economist?
Act. 1-2:Scaricty,
Opportunity Cost, and
Production Possibilities
Curve (Graphing)
Act 1-3 Determining
Comparative
Advantage
Act 1-4:Demand
Curves: Movement and
Shifts (Graphing)
Act 1-5: Reasons for
Changes in Demand
Act 1-6: Supply
Curves: Movement and
Shifts (Graphing)
Act 1-7: Reasons for
Change in Supply
Act 1-8: Equilibrium
Price and Equilibrium
Quantity (Graphing)
Act 1-9: Shifts in
Supply and Demand
None
Unit 2
Topics
GDP & Circular Flow
Chapter
Reading
Chp. 1 pp. 23-24
Chp 23 pp. 499515
Textbook
Work
p. 516
Questions for
Review #s 1-8
even
pp. 516-518
Problems 1-12
odd
None
Workbook
Act 2-1: Understanding
the Circular Flow of
the Macroeconomy
Measuring Economic
Goals (Employment, Price
Stability Economic
Growth, Expenditure and
Income Approach) Tax
System
Prince Indexes and
Inflation
Chp. 12 241-261
Act 2-2: Gross
Domestic Product
Chp. 24 pp. 519531
p. 532
Questions for
Review 1-5
Unemployment & the
Business Cycle, Review
for Test
Chp. 28 pp. 599620
p. 621
Questions for
Review 1-7
Act 2-3: Inflation
Act 2-4: Price Indices
and Real versus
Nominal Values
Act 2-5: The Costs of
Inflation
Act 2-6 Unemployment
Act 1-10:The Business
Cycle
Unit Two Test
None
None
None
Unit 3
Topics
Chapter
Reading
None
Textbook
Work
None
Chp. 26 pp. 561580
Chp 33. 723-733
p. 580
Questions for
Review 1-6
Aggregate Supply, Short &
Long Run Equilibrium
Models
Chp. 33 pp. 734752
None
Fiscal Policy-Discretionary
and Automatic
Chp. 34 pp. 763771
None
Analyzing Fiscal Policy,
Review for Test
Chp. 34 pp. 771777
Consumption Function,
MPC & MPS Multiplier
Investment and Aggregate
Demand, Loanable Funds
Market
Unit Three Test
Workbook
Act 3-2: The Multiplier
Act 3-1: An
Introduction to
Aggregate Demand
(Graphing)
Act 3-3:Intro to Short
Run Aggregate Supply
Act 3-4: Sticky Versus
Flexible Wages and
Prices
Act 3-5: Short Run
Equilibrium Price
Level and Output
Act 3-6: Changes in
Short-Run Aggregate
Supply and Aggregate
Demand (Graphing)
Act 3-7: The Types of
Inflation
Act 3-8: Long Run
Aggregate Supply
Act 3-9: Actual versus
Full Employment
Output
Act 5-1:Tools of Fiscal
Policy
Act 5-2: Discretionary
and Automatic
Stabilizers
p. 779 Problems Analyzing the
10-12
Macroeconomy (Old
Mort Book, Act 33)
Unit 4
Topics
Chapter
Reading
Chp. 29 pp. 627642
Textbook
Work
p. 643
Questions for
Review 1-9
Equation of Exchange,
Fisher Effect
Chp. 30 pp. 645669
pp. 670-671
Problems 1-13
Odd
The Fed and Monetary
Policy-Money Market,
Loanable Funds Market
Review Chps 29
and 34, Chapter
26 p. 570-580.
None
The Fed and Monetary
Policy-Interest Rates
Chp. 24 pp. 529530
p. 532 Question
for Review # 5
p. 533 Problem
11
Monetary Policy, Effects
of, Full Employment,
Expansionary Policy,
Review for test
Unit Four Test
None
None
None
None
Monetary System
Workbook
Act 4-1: Money and
Financial Assets
Act 4-2: Time Value of
Money
Act 4-3: Banks and the
Creation of Money
Act 4-8: The Quantity
Theory of Money
Act 4-4 The Money
Market
Act 4-5 The Loanable
Funds Market
Act 4-6: The Federal
Reserve and Central
Banking
Act 4-9-Real versus
Nominal Interest Rates
Act 4-7: Monetary
Policy
None
Unit Five
Topics
Effects of Monetary and
Fiscal Policy on inflation
and real output in the short
run, Crowding out,
Graphing Monetary and
Fiscal Policy Interactions,
Short Run Phillips Curve
Chapter
Textbook Work
Reading
Chp. 34 pp. 768- pp. 805-807
769
Problems 1-11
Chp. 35 pp. 781- (Graphing)
805
Production and Growth
Chp. 25 pp/ 537- p. 559 Questions
558
1-8
Basic Tools of Finance,
Review for test
Chp. 27 pp. 583- p. 597 Questions
596
1-7
pp. 597-598 1-9
None
None
Unit Five Test
Workbook
Act 5-3: Monetary and
Fiscal Policy
Act 5-4: Policy Effects
on Aggregate Supply
Act 5-5: Monetary and
Fiscal Policy
Interactions
Act 5-6: The Deficit
and Debt
Act 5-7: Crowding Out
(Graphing)
Act 5-8: Short Run
Phillips Curve
(Graphing)
Act 5-9: The LRPC
and the Role of
Expectations.
Act 6-1: Economic
Growth
Act 6-2: Productivity
Act 6-3: Policies to
Promote Economic
Growth.
None
None
Unit 6
Topics
Why nations trade, barriers
to trade, comparative and
absolute advantage,
arguments for and against
trade
Chapter
Reading
Chp. 9 pp. 175195
Textbook Work
Workbook
p. 196 Questions
1-2, 4-7
Act 49-Determining
Comparative
Advantage (Old Mort
Book)
Act 50-Economic
Efficiency and Gains
from Trade (Old Mort
Book)
Act 7-1: Barriers to
Trade
Act 7-1: Balance of
Payments
Act 7-3: The Foreign
Exchange Market
Graphing)
Act 7-4:How Monetary
& Fiscal Policy Affect
Exchange Rates
(Graphing)
Act 7-5: Net Exports
and Capital Flows:
Linking Financial and
Goods Markets
None
Open-Economy
Macroeconomics
Chp. 31 pp.
675-694
p. 694 Questions
1-5
pp. 694-695
Problems 1-12
Macroeconomic Theory of
the Open Economy
Chp. 32 pp.
697-715
p. 716 Questions
1-4
Unit Six Test
None
None