AP MACROECONOMICS SYLLABUS Walker – Fall Semester -- 2015 Unit 3 – National Income & Price Determination TUESDAY October 27 Test Modules 12-15 Give the meaning of the aggregate consumption function which shows how current disposable income affects consumer spending Distinguish between autonomous consumption and induced consumption Describe & calculate the marginal propensity to consume & the marginal propensity to save Define & understand the usefulness of APC, APS, MPC, MPS THURSDAY October 29 Review the Spending Mulitplier Practice with APC, APS, MPC, MPS Define the linear equations for the consumption and savings functions Practice calculating changes in income, spending, and consumption Explain how initial changes in spending lead to further changes in the economy via the multiplier MONDAY November 2 Review key formulas from Module 16 - QUIZ Practice with the multiplier Identify the determinants of investment spending Analyze the importance of investment spending on the future state of the economy WEDNESDAY November 4 Test Unit III Topic 1 – Basic Macroeconomic Relationships Module 17 – Aggregate Demand FRIDAY November 6 More on Aggregate Demand