AP Microeconomics Course Syllabus
TEACHER: Ms. Carolyn Frischman
ROOM #: B-27
CONFERENCE HR: 6th
PHONE: (586) 797-2027
E-MAIL: carolyn.frischman@uticak12.org
COURSE WEBSITE: http://www.aplia.com
Course Overview:
Advanced Placement Microeconomics is a semester-long course (1/2 social studies credit) that
focuses on building broad-based knowledge of economic fundamentals and preparing students for
success on the AP Microeconomics Exam in May and achieving college credit while still in high school.
The course utilizes college level materials, primary sources, and web-based resources. Students are
required to participate in daily readings, note-taking, activities, written and web-based assignments and
discussions (including Socratic Circle). They will also complete challenging exams, a variety of projects,
cooperative learning experiences, and oral and multi-media presentations to gain an understanding of
fundamental macroeconomic concepts and their relation to the world of business today. Writing skills are
emphasized. This course serves as a foundation not only for future study of economics, but also the
related fields of business, finance, marketing, political science, and mathematics.
Text: Mankiw, N. Gregory. Principles of Economics. 4th ed. Mason, OH: Southwestern, 2006.
Course Materials:
Each student is required to maintain a portfolio that is to be used only for AP
Economics. Portfolios must consist of the following: 2 ½” 3-ring binder, 5 dividers with tabs, loose-leaf or
spiral-bound college-ruled paper for note-taking, and an adequate supply of pens, #2 pencils, and a
highlighter pen. Once assembled, students are required to bring portfolios, along with course textbooks,
to class every day. Portfolios will be examined periodically (often unannounced) and will be factored into
course grades. Taking class notes (Cornell and Student Powerpoint) are required and are part of
portfolio grades. Portfolios will be collected for a final comprehensive grading at the end of the
course. Portfolio materials must be brought to class for assembly on:
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Units of Study:
Microeconomics
Mankiw Textbook Chapters 1-22
Unit 1: Introduction/Basic Economic Concepts (Chaps. 1-3) (Subject to modification – TBA)

definitions, scarcity, trade-offs, opportunity cost, economic systems, “thinking at the margin”, circular flow,
production possibilities, specialization, and absolute and comparative advantage
Unit 2: How Markets Work (Chaps. 4-6)

Market structures, supply & demand, supply and demand curves, equilibrium, income and substitution
effects, normal and inferior goods, price system, elasticity, price ceilings and price floors, tax incidence
Unit 3: Markets and Welfare (Chaps. 7-9)

Consumer and producer surplus, efficiency, deadweight loss of taxation, Laffer curve, individual and market
demand curves, world price and domestic price, trade barriers and free trade
Unit 4: The Economics of the Public Sector (Chaps. 10-12)

Externalities (positive & negative), social benefits and costs, private solutions – Coase Theorem, public
policies – Pigovian taxes, tradable pollution permits, public vs. private goods, free-rider problem, common
resources, tragedy of the commons, importance of property rights, tax system, tax equity, types of taxes
Unit 5: Firm Behavior and the Organization of Industry (Chaps. 13 &14)

Costs of production, total revenue, total cost, profit, economic profit vs. accounting profit, production
function, marginal product and diminishing returns, utility, total utility / marginal utility, utility maximization,
fixed, variable, average, and marginal cost curves, profit maximization MR=MC, short-run and long-run
ATC, economies and diseconomies of scale, perfect competition, profit maximization, supply decisions and
short-run shut down decisions, long-run decisions to enter or exit the market, efficiency
Unit 6: Monopolies, Oligopolies & Monopolistic Competition (Chaps. 15-17)

Monopoly (why monopolies arise, types of monopolies, a monopoly’s revenue, profit maximization, price
discrimination, cost of monopoly – deadweight loss and social cost, public policy toward monopolies antitrust laws and regulation), Oligopoly (collusion, cartels, interdependence, game theory – Prisoners’
Dilemma, public policy), Monopolistic Competition (product differentiation, profit maximization, short run and
long-run, is excess capacity a social problem?)
Unit 7: The Economics of Labor Markets (Chaps. 18-22)

Demand for labor, production function and marginal product of labor, value of the marginal product of labor,
supply of labor / labor market, equilibrium in markets for labor, land, and capital, earnings and
discrimination, income inequality, sources of income inequality, equity, political philosophies of redistributing
income (Utilitarianism, Liberalism, Libertarianism), policies to reduce poverty, minimum wage laws, TANF
Assignments/Tests:
 A test is given after each unit. Each test is designed to replicate the AP Microeconomics exam in
that 2/3 of each test is multiple choice and 1/3 is free-response.
 Small quizzes are given to students to encourage them to keep up with the textbook readings.
These are used at the instructor’s discretion.
 Most assignments consist of practical problem sets, readings, analyses, and written assignments
from a combination of the following, in addition to the course textbook:
o Aplia course website - http://www.aplia.com
o New York Times “Upfront” Magazine
o AP Microeconomics/Macroeconomics “5 Steps to a 5” exam review books
o The College Board Website – www.collegeboard.org/
 Additional assignments may/will include, but are not limited to, web-based assignments, special
projects, research projects, oral and multi-media presentations, simulations, round-table
discussions, and group work.
Anticipated Homework/Study Load:
It is anticipated that students in AP Microeconomics will average spending 30-45 minutes 4 days
a week on assignments, readings, or study related to this course at home.
Late & Make-up Work:
Students have exactly the number of days they were absent to turn in make-up work. Make-up
work will only be accepted for excused absences and contact with the instructor must be made asap if an
excused absence necessitates “re-opening” an assignment on Aplia that has passed its due
date/time. Make-up quizzes and tests must be taken in the same time frame as make-up work. Late
work will only be accepted on an AMNESTY DAY. There will be 3 Amnesty Days per marking
period. Each student will receive two Amnesty passes per marking period. Amnesty work will only be
accepted that is complete, has a pass attached to it, and is ready to hand in at the beginning of the class
period on an Amnesty Day. Extra credit points will be given for unused Amnesty passes at the end of
each marking period.
Attendance:
U.C.S. Board of Education policy on tardies and absences will be followed. It is students’
responsibility to find out what they missed following an absence, check Aplia daily, pick up any
handouts/assignments from the instructor, obtain missed class notes from a classmate, and be aware of
announced test and due dates.
Grading Policy:
A simple point system is used in this course. Each component of the course is awarded a point
value. Points are converted to a percentage, and percentages to letter grades. Semester grades will be
determined on the basis of the standard 40%/40%/20%. Letter grades are assigned consistent with
UCS Board policy. Comprehensive, written final exams will be administered during exam weeks.
Participation Policy:
See handout.