Joliet West High School
AP Microeconomics
Course Syllabus
Instructor:
Mr. Kenneth Poort
B.A. Social Sciences and Secondary Education 2007, Saint Xavier University
M.A. Educational Administration 2010, Governors State University
Room E258
Email: kpoort@jths.org
Course Description:
Welcome to AP Microeconomics!! This course is an introduction to microeconomics and each
student is expected to take the AP Microeconomics Exam that is administered in May. The purpose of an
AP course in Microeconomics is to provide a thorough understanding of the principles of economics that
apply to the functions of individual decision makers, both consumers and producers, within the larger
economic system. It places primary emphasis on the nature and functions of product markets, and includes
the study of factor markets and of the role of government in promoting greater efficiency and equity in the
economy. Microeconomics introduces students to the cost-benefit analysis that is the economic way of
thinking and using this analysis to understand smaller segments of the economy. Students will learn to
create, interpret, label, and analyze graphs, charts, and additional data to describe and explain various
economic concepts.
AP Microeconomics includes the following concepts: scarcity, opportunity costs and production
possibilities, specialization and comparative advantage, the functions of any economic system, the nature
and functions of product market, supply and demand, models of consumer choice, firm production, costs,
revenues, product pricing and outputs, efficiency and government policy, factor markets, efficiency, equity,
and the role of government.
AP Microeconomics Test: Check With Teacher or AP Central College Board website
This course culminates in a College Board AP Examination that test both broad factual knowledge and
analytical skills. The examination is divided into two major sections: the Multiple Choice section and the
Free Response section. Here is a breakdown of the parameters of the Microeconomics AP Examination:
Section I
Section II
% of Grade
66 (2/3)
33 (1/3)
Number of Questions
60
3 required
Time Allotted
70 minutes
50 minutes
Course Themes (www.collegeboard.com)
1. Basic Economic Concepts (8-14% of AP Exam)
2. The Nature and Functions of product Markets (55-70% of AP Exam)
3. Factor Markets (10-18% of AP Exam)
4. Market Failure and the Role of Government (12-18% of AP Exam)
Length of Course: One Semester
Credit: 0.5
Reading Period
10 minutes
Objectives: Students will be able to
 Demonstrate economic questioning and analysis skills.
 Interpret a variety of graphical models and paraphrase economic concepts.
 Analyze the development of modern economic theory.
 Use and interpret the language of business and basic measurements of economics performance.
 Apply economic skills and concept knowledge to higher college-level economic courses.
Textbook and Materials:
 Ray, Margaret and Anderson, David. Krugman’s Microeconomics for AP*. New York: Worth
Publishers, 2012
 Binder or Folder
 Paper (loose leaf or spiral)
 Calculator
 Student Planner
 Different color pens, pencils, highlighters
 Ruler
 Student ID with lanyard (must be worn at all times)
Additional Readings: Wall Street Journal, local newspaper articles, magazine articles
Your responsibilities:
 Attend class regularly and be on time. You are responsible for any absent work.
 Come to class prepared and with needed materials and your homework completed.
 Be active rather than passive learners of microeconomics – Give 100% effort.
 Be respectful to everyone
My Instructional Responsibilities:
 I will provide you with a rigorous curriculum that will challenge you academically.
 I will provide you with relevant assignments, projects, assessments, and hands-on activities that will
help you learn and enjoy learning.
 I will treat you with respect creating a positive teacher and student relationship that will allow for
positive communication and guidance.
Course Assessment/Grading Plan:
District Grading Scale:
A = 100-90
B = 89-80
C = 79-70
D = 69-60
F = 59 and below
Final Semester Grade – Points for the semester will accumulate through the following:
20% = Classwork, Quizzes, Homework, Projects, Unit Assignments, Classroom Participation.
80% = Unit Exams and Free Response practice questions
Classwork – Mandatory
Unit Packets – Worksheets
Reading Notes
Must be turned in on day of Unit Test.
Course Procedures
Tardy Procedure
 The tardy sign in book is located on the desk next to the door.
In and out Log
 The log is located on the desk next to the door.
Absent Procedure
 You are responsible to retrieve all absent work during the first 2 minutes of class.
 You will be given a day plus one for every day that you have an excused absence to make up work.
 All questions about work should be asked during pre-dismissal.
Late work
 Homework/Class Activities: Must be turned in on the due date for full credit. All work turned
in after the due date will receive partial credit. After 2 weeks only 50% credit will be given. All
missing work will be given a zero until turned in.
Academic Honesty/Plagiarism Policy:
 Students are to strictly adhere to the policies governing academic honesty and plagiarism as
described in their student planner. If you are caught violating the Ethical Code of Conduct, you
will receive a ZERO on the assignment or test in question.
Course Planner
Unit 1: Basic Economic Concepts – Section 1 Krugman’s Microeconomics for AP*…………………... 2 weeks
a. The Study of Economics
 Scarcity, economic systems, opportunity costs, factors of production
 Marginal Analysis; MC=MB
b. The Production Possibilities Curve Model
c. Comparative Advantage and Trade
 Specialization, free trade, tariffs/quotas
Unit 2: Supply and Demand – Section 2 Krugman’s Microeconomics for AP* ……………………… 1-2 weeks
a. Introduction and demand
 Law of Demand, Shifts of the demand curve, complements/substitutes, normal/inferior
goods,
b. Supply and Equilibrium
 Law of Supply, Change in supply,
c. Changes in Equilibrium
 Change of Equilibrium price and quantity when there is a change in either supply or demand
or both.
d. Price Controls and Quantity Controls
 Price ceiling/floor, allocation to consumers, wasted resources, inefficiently low quality, black
markets, minimum wage, price floor inefficiency.
 Quota, licenses, deadweight loss.
Unit 3: Consumer Choice and Elasticity – Section 3 Krugman’s Microeconomics for AP*………… 1-2 weeks
a. Income Effects, Substitution effects and elasticity.
 Calculating the price elasticity of demand.
b. Interpreting Price Elasticity of Demand
 Perfectly inelastic/elastic, unit inelastic/elastic.
 Income elasticity of demand, price elasticity of supply
c. Consumer and Producer Surplus
 Willingness to pay, Effects of Taxes on total surplus
d. Utility Maximization
 Equalizing marginal utility per dollar.
Unit 4: The Role of the Government – Section 8 Krugman’s Microeconomics for AP*……………….. 2 weeks
a. Externalities
 Market failure, Marginal social benefit and marginal social cost, positive/negative externalities,
b. Public Policy
 Taxes, subsidies, promoting competition
c. Public Goods
 Public v. Private, free riders
d. Income Distribution
 Causes for unequal distribution, effect of government programs on poverty,
Unit 5: Firm Profit, Production, and Cost – Section 4 Krugman’s Microeconomics for AP*………… 2 weeks
a. Profit
 Accounting versus economic profit, normal profit, profit maximization, MR=MC
b. Production
 Inputs and outputs
c. Costs
 Total, variable, marginal
d. Economies of Scale
 Short run verse long run costs
e. Market Structures
 Identifying differences
Unit 6: Perfect Competition and Monopoly – Section 5 Krugman’s Microeconomics for AP*……… 3 weeks
a. Perfect competition conditions
b. Graphing perfect competition
 Short-run supply and Shut Down price
 Long-run outcomes
 Behavior of firms and markets in the short-run and long-run.
c. Monopoly
 Types of monopoly: pure, closed, open, natural.
 The monopolists demand curve
 Monopoly versus Perfect Competition
 Monopoly and Public Policy
i. Welfare effects of monopoly
 Price Discrimination
Unit 7: Imperfect Competition – Section 6 Krugman’s Microeconomics for AP*………………………... 2 weeks
a. Oligopoly
 Interdependence, collusion, and cartels
b. Game Theory
 Prisoners’ Dilemma
 Strategic Behavior
c. Monopolistic Competition
 Traits
 Short Run
d. Product Differentiation and advertising
Unit 8: Factor Markets – Section 7 Krugman’s Microeconomics for AP* ............................................................ 2 weeks
a. Factors of Production
 Derived demand
b. The Market for Labor
 Supply of Labor, wages, marginal revenue product
c. Cost-Minimizing Input Combination
 Capital/Labor substitutions, substitutes/complements
d. Theories of Income Distribution
 Unions, discrimination, wage disparities
Unit 9: Extra Time if Available
a. Essay writing using graphs and tables available for each unit.
Classroom Discipline Plan for Mr. Poort’s AP Microeconomics Class
Rules
1. Follow ALL directions and all handbook guidelines.
2. Be prompt and seated BEFORE the bell rings.
3. Be prepared and bring all required materials to class everyday.
a. I.D.
b. Required textbook and materials.
c. Completed homework checks and unit assignments.
4. Be RESPECTFUL by keeping your hands, feet, and objects to yourself as well as by not using loud
voices, swearing, arguing, name-calling, teasing, put downs, harassment, etc.
5. Carry out dismissal procedures.
6. General behavior rules
a. Keeping personal grooming items out of class. (makeup, combs, brushes, hairspray, cologne,
perfume, lotion)
7. Bathroom use will require you having your planner for the teacher to sign. You will be allowed
three bathroom passes for the semester.
Consequences
1.
2.
3.
4.
5.
Verbal warning / Sign behavior log (PAC)
Above; Last out / Seat change / Sign behavior log (PAC)
Above; Stay after / Seat change / Sign behavior log (PAC)
Above; Parental contact / Stay after / Seat change / Sign behavior log (PAC)
Above; REFERRAL TO DEAN; (PAC)
** (PAC)-Parent, Administrator, Counselor contact
Severe Clause
Fighting, vandalism, overt defiance (insubordination), and/or stopping class from functioning will result in an
immediate referral to your dean for severe consequences.
Positives
1.
2.
3.
4.
5.
6.
Verbal
Phone call or letter home
Homework pass
Extra Points
Drop low grade
Quiz Buddy