AP Microeconomics Course Syllabus
Course Title: AP Microeconomics
Teacher: Mr. Mark Tyler
Room: 228
Email: mark.tyler@eu.dodea.edu
Website: http://mrtylersocstud.weebly.com/
Congratulations on making your decision to take an AP course. The primary goal of my AP
Microeconomics Class is to prepare you to successfully take and pass the AP Microeconomics
Exam on May 14th. We will build the foundation upon which an understanding of current
economic and political issues will be built. It is a great prep for AP Government. Hopefully you
will find the class challenging, purposeful and fun.
Class meeting times: This course runs over 36 weeks and meets four times per week with two
periods of 45 minutes each and two periods of 68 minutes.
Course Overview
AP Microeconomics is a one-year long course that helps to lay the foundation for
Macroeconomics. It is designed to give students a thorough understanding of the principles of
economics that apply to the functions of individual decision makers of both the consumers and
producers within the economic system. This is a rigorous course that uses mathematical
reasoning to understand economic decision-making by individuals, firms, and nations. This
course places emphasis on the nature and functions of product markets, and includes the study
of factor markets and the role of government in promoting greater efficiency and equity in the
economy. I am counting on my students to have the maturity necessary to take on a college
level course. Students will be required to complete a wide range of readings, analyze graphical
and statistical information, sketch graphs, and take outlined notes. Assessment strategies will
mirror the AP Microeconomics Exam and provide insight into the student’s ability to grasp and
demonstrate knowledge in an intellectual style similar to a college classroom. This course will
have an intense workload, reading schedule, and the course material far exceeds that covered
in a regular economics classroom. This course is equivalent of an introductory college course in
Microeconomics, so come to class every day ready to work. Every effort will be made by me to
plan out the course so that you can make the information necessary to make good time
management decisions. For example, knowing what the assigned readings will be for the
following week so that you can read ahead on the weekends. I know that AP students are very
busy!
Course Purpose and Goals
Philosophy: The AP Microeconomics course is designed to be an interactive and intellectual
learning community where both instructor and student explore how human, capital,
technological and natural resources impact the development of economic systems and
determine production, distribution, and consumption. Through intensive reading, graphical
analysis, and evaluation of economic theories, students should be able to apply economic
concepts and reasoning when evaluating historical and contemporary social development
issues. Students focus on understanding microeconomic concepts as they apply to different
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AP Microeconomics Course Syllabus
market structures.
Goals: The course goals, aims to develop the student:
1. Disciplined skills of economic reasoning.
2. An ability to apply the tools of economic analysis to past and contemporary situations
and data, and to explain their findings clearly.
3. Understanding of the interdependence and the diversity of economic realities in which
individuals, organizations, and societies function.
4. Understanding of how individuals, organizations, societies and regions organize
themselves in the pursuit of economic objectives.
5. An ability to evaluate economic theories, concepts, situations and data in a way, which is
rational and unbiased.
Conceptual organization: The standard organization for AP Microeconomics is identical to that
of the university or college microeconomics courses spread over 36 weeks as opposed to 12 or
18 weeks. The units of study include scarcity and opportunity cost, supply and demand,
extensions of supply and demand, inclusive of elasticity, cost of production, theory of the firm,
factors markets and derived demand, public finance and circular flow of goods and services.
The conflicting incentive of the consumer in maximizing satisfaction as the producer attempts to
maximize profit is explored in conjunction with government being the ultimate arbitrator as it
maximizes welfare.
Course Format and Policies:
1. This course receives a weighted grade only if the student takes the AP Microeconomics
Examination.
2. The DoDDS will pay the student fee for the exam.
Textbooks and other Materials:
1. Required text: Mankiw, Gregory N., Principles of Economics 5th Ed. 2008. Harvard
University: South-Western Cengage
2. Supplementary text: Taylor, John B., Economics, 5th Ed. 2007. Boston Houghton
Mifflin-------- Clayton, Gary E., Economics Principles and Practices 1st Ed. 2008, McGraw
Hill
3. AP Economics Prep Book: Dodge, Eric. 5 Steps to a 5
AP Microeconomics/Macroeconomics, 2014-2015 Edition. McGraw-Hill 2011
4. Reddington, Brian. 5 Steps to a 5. 500 AP Microeconomics/Macroeconomics questions
to know by test day. McGraw-Hill 2012
Recommended Reading
Buchholz, Todd G. New Ideas from Dead Economists: An Introduction to Modern Economic
Thought. Rev. Ed. New York: Plume Books, 2007.
Heilbroner, Robert L. The Worldly Philosophers: The Lives, Times, and Ideas of the Great
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AP Microeconomics Course Syllabus
Supplemental Resources: Periodicals on the Internet
The Economist. www.economist.com
New York Times. www.nytimes.com
Wall Street Journal. www.wsj.com
Washington Post. www.washingtonpost.com
Harvard Business Review. www.hbr.org
Real Clear Markets. http://www.realclearmarkets.com/
Biz/Ed. www.bized.co.uk
Other useful websites
Reffonomics. http://reffonomics.com/reff/index.html
Economics Classroom. http://www.econclassroom.com/
There are, of course, even more online resources to tap into. I will post them to my
website.
Course Content:
1. Basic Economic Concepts
 Understanding the existence of limited resources in tandem with unlimited wants
results in the need to make choices.
 Introduction of concepts of opportunity costs and trade-offs.
 Consideration of how different types of economies determine which goods and
services to produce.
 Understanding how specialization and exchange increases the total output of
goods and services.
 Differentiating between absolute and comparative advantage.
 Defining the importance of property rights and the role of incentives.
 Understanding the principle of marginal analysis.
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AP Microeconomics Course Syllabus
2. The Nature and Functions of Product Markets
 Analysis of the determinants of supply and demand.
 Understanding the theory of consumer choice.
 Examining the demand side of the product market.
 Understanding utility, the law of diminishing marginal utility, and utility maximizing
conditions.
 Understanding how to derive individual and market demand curves.
 Describing the relationship between the quantity of inputs and the quantity of
output.
 Examining the link between productivity and costs.
 Defining profits.
 Examining the sources of monopoly power.
 Understanding oligopoly.
 Identifying the importance of product differentiation and the role of advertising in
the behavior of firms.
3. Factor Markets
 Applying the concepts of supply and demand to markets for factors such as
labor, capital and land.
 Analyzing the concept of derived demand.
 Understanding how a factor’s marginal product and the marginal revenue product
affect the demand for the factor.
 Analyzing the labor markets.
 Understanding how the market determines the distribution of income and the
sources of income inequality in the market economy.
4. Market Failure and the Role of the Government
 Understanding the arguments for and against government intervention in an
otherwise competitive market.
 Using the marginal social benefit and marginal social cost principles to examine
the conditions for economic efficiency.
 Studying the effectiveness of government policies such as subsidies, taxes,
quantity controls, and public provision of goods and services.
 Examining the role of monopolies in the market failures.
 Examining the key measures of income distribution.
 Examining the impact of government tax policies and transfer programs, both on
the distribution of income and on economic efficiency.
Content Area: General note: The emphasis on content will reflect the “percentage goals of the
AP exam,” 8-14% on Basic economic concepts, Nature and the function of Product Markets 5570%, Factor Markets 10-18% and Market Failure and the Role of the Government (12-18%).
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AP Microeconomics Course Syllabus
General Outline for a Typical Lesson Plan for AP Economics
I plan to start each day with the exception of test days and the first week of class- with practice
multiple choice questions or short Free Response Questions (FRQs) that will either be
connected with the previous day’s lesson or with the lesson that we will be learning that day.
The questions will include data analysis, graphing, and short answer responses that require
critical thinking and problem solving. AP formatted questions will be used as often as I can. On
some days we will begin with “pop” Reading Check Quizzes to encourage students to read and
outline assigned textbook readings. Stay up to date on your reading assignments by checking
the calendar on my weekly web page often. And stay ahead of schedule as much that happens
in life is unexpected. Class lecture and activities will then occur to present students with new
information. Closing activities may include analyzing political cartoons, a discussion of current
events linked to economics concepts, time to work together in groups on homework, or a
scheduled quiz. Quizzes and test will follow AP Economics test format to give students
experience answering multiple choice questions that require critical thought and free-response
questions. Again, check my weekly web page often.
Grading
30% of each semester grade will be based on homework and classwork
50% of each semester grade will be based on tests and quizzes.
The semester and final grade will be calculated as follows: Each of 4 quarters marking periods
will be worth 20% of the final grade. The semester and final exam will be worth 20%.
Policies:
●
It is your responsibility to arrange make up of what you missed. Sufficient time will be
given to make work up in the event of an excused absence only.
●
In the event of an unexcused absence, a grade of zero will be entered into any
assignment due in class that day. This includes tests and quizzes. Homework due on
the day following an unexcused absence is still due.
●
Tardy Policy: a warning will be given with your first tardy; your parent/guardian will be
contacted with your second tardy; a 30 minute detention will be assigned with your third;
and then a referral will be sent to the assistant principal with your fourth tardy.
●
Homework is practice for tests and quizzes and will be given points when turned in. Pay
attention to due dates. Late homework will not be accepted. Please make your best
effort to complete homework as homework points will help your grade.
●
Do NOT leave your textbook in class.
●
You may only use your cell phone, music player, tablet, etc.... when I expressly allow it.
We may occasionally be using this devices in class as learning tools. Again...PUT
YOUR ELECTRONIC DEVICES AWAY UNTIL I TELL YOU TO CAN USE THEM.
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AP Microeconomics Course Syllabus
The Grading Scale:
90-100
=A
80-89
=B
70-79
=C
60-69
=D
59 or below = F
Weighted Grades will only be awarded to students who complete the course and take the
AP examination.
Passes out of class: Use the classroom pass that I keep on the front table.
before you take the pass. Passes are to be used for emergencies only.
Ask permission
Microeconomics School Year Course Schedule
Unit 1: Basic Economic Concepts
Basic Economic Concepts
Weeks 1-3
● Scarcity, choice, and opportunity cost, production possibilities curve, comparative
advantage, absolute advantage, specialization, international trade, economic systems
(Market, command, and traditional) property rights, incentives (profit motive), marginal
analysis, business cycle, unemployment, inflation, deflation, economic growth
● Readings: Chapter 1, pp. 3-19: Chapter 2, pp. 21-48.
● Activities include group discussion and student presentation.
● Analysis of current event articles.
● Knowledge of circular flow diagram used to summarize market, mixed market, and
command economics.
● Complete Guided Reading Activities
● Two quizzes and one test using AP and college level test bank questions exclusively,
both multiple choice and short answer questions.
Unit 2: The Nature and Functions of Product Markets
Supply and Demand
Weeks 4-6
● Market equilibrium, determinants and supply and demand, price and quality controls,
elasticity, consumer surplus, producer surplus, market efficiency, tax incidence, and
deadweight loss
● Readings: Chapter 4; Chapter 5, pp. 89-111; Chapter 6; Chapter 7; Chapter 8, pp. 159175; Chapter 15, pp. 337-339; Chapter 21, pp.457-482.
● Students will be quizzed and tested emphasizing change in demand/supply vs. change
in quantity demanded/supplied.
● Complete Guided Reading Activities
● Two current event articles to be analyzed from the point of view of a young economist
using acquired knowledge as it relates to a real world view.
● One quiz and one test using AP and college level test bank questions exclusively, both
multiple choice and short answer questions.
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AP Microeconomics Course Syllabus
Theory of Consumer Choice
Weeks 7-8
● Utility, total utility, marginal utility, utility maximization, individual demand curves, market
demand curves, income and substitution effects
● Readings: Chapter 21, pp.457-482
● Complete Guided Reading Activities
● Practice problems relating supply/demand and supply and demand extensions
● One quiz using AP and college level test bank questions exclusively, both multiple
choice and short answer questions.
Unit 3: The Theory of the Firm
Production, Costs, Firm Behavior and Market Structures
Weeks 9-11
● Production functions, marginal product, diminishing returns, short-run costs, long run
costs, economies of scale, cost minimizing input combination, profit, accounting versus
economic profits, normal profit, and profit maximization (MR=MC rule)
● Readings: Chapter 13 Students will be able to draw short and long run cost curves and
explain their shapes, i.e. the mc curve as it relates to the MPP and the law of diminishing
returns.
● Articles will be analyzed pertaining to long run costs through mergers and acquisitions.
● Complete Guided Reading Activities.
● Quizzes on graphs
● Test – cost of production using AP and college level test bank questions exclusively,
both multiple choice and short answer questions.
Unit 4: Perfect Competition
Weeks 12-15
● Profit maximization, short-run supply and shutdown decision, behavior of firms and
markets in the short run and in the long run, efficiency and perfect competition
● Readings: Chapter 14
● Students will explain content through accurately labeled diagrams for short and long run
equilibrium and explain advantages/disadvantages of each as it relates to efficiency and
practicality, and government regulations.
● Complete Guided Reading Activities
● One quiz regarding Perfect Competition and one quiz for monopoly
● One test of both means of firm organization with emphasis on graph reproduction,
analysis, and role of government in encouraging economic efficiency.
● Source of the test and quiz problems will be through AP and college test bank questions.
Semester Review
Weeks 16-17
 Review of content through the discussion of AP, college test bank questions.
 Semester exams – Study and cumulative semester examination duplicating AP format.
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AP Microeconomics Course Syllabus
Second Semester
Unit 5: Imperfect Competition
Monopoly
Week 1-2
● Sources of market power, profit maximization, inefficiency of monopoly, price
discrimination, and natural monopoly
● Readings: Chapter 15.
● Students will explain the organizational structure through a accurately labeled diagram
emphasizing the monopoly’s unique characteristic in terms of marginal cost pricing vs.
strategic competition.
● Current event articles will be analyzed representing monopoly.
● Properly labeled diagram will be required as it relates theory to reality.
● Review a monopoly market structure.
● Complete Guided Reading Activities.
● Test over cost and theory of the Firm inclusive of perfect competition, monopoly,
oligopoly, and monopolistic competition.
Monopolistic Competition
Week 3-4
● Product differentiation, role of advertising, profit maximization, short-run and long-run
equilibrium, excess capacity and inefficiency
● Readings: Chapter 16, pp. 345-364.
● Students will explain the organizational structure through a accurately labeled diagram
emphasizing the monopolistic competitions unique characteristic in terms of marginal
cost pricing vs. strategic competition.
● Current event articles will be analyzed representing monopolistic competition.
● Properly labeled diagram will be required as it relates theory to reality.
● Review a monopolistic competition market structure.
● Complete Guided Reading Activities
Oligopoly
Week 5-6
● Interdependence, collusion, cartels, cartels, game theory, strategic behavior
● Readings: Chapter 17, pp. 365-388.
● Students will explain the organizational structure through a accurately labeled diagram
emphasizing the oligopoly’s unique characteristic in terms of marginal cost pricing vs.
strategic competition.
● Current event articles will be analyzed representing oligopoly competition.
● Properly labeled diagram will be required as it relates theory to reality.
● Review a monopoly market structure.
● Complete Guided Reading Activities.
● Test over cost and theory of the Firm inclusive of perfect competition, monopoly,
oligopoly, and monopolistic competition.
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AP Microeconomics Course Syllabus
Unit 6: Factor Markets
Factor Market
●
●
●
●
●
Weeks 7-8
Derived factor demand, marginal revenue product, labor market and firms’ hiring of
labor, and market distribution of income.
Readings: Chapters 18, 19 and Chapter 20 pp.433-454.
Emphasis on demand for factors of production and elasticity of the goods produced
Complete Guided Reading Activities
Test over factors of production
Unit 7: The Role Government
Market Failure and the Role of Government
Weeks 9-10
● Positive and negative externalities (including remedies), marginal social benefit,
marginal social cost, public versus private goods, provision of public goods, antitrust
policies, government regulation, income distribution, economic equity, sources of income
inequality.
● Readings: Chapters 10 -12
● The role of the government is a strand that is discussed throughout the course as it uses
taxation and regulation to address the weaknesses of the market/merchandise.
● Direct and indirect taxation- current event analysis through teacher provided or student
provided article.
● Complete Guided Reading Activities
● Test on the role of government.
AP Exam Review
Overview of Microeconomics Concepts
Debrief
Debrief and relay
 Student suggestions for next year’s students and teacher.
Weeks 11-15
Week
16
Prep for next year
Topics of Macroeconomics
Weeks 17-20
 Inflation and unemployment
 Fiscal, monetary and supply side policies as each is used to address the economic
failures of the market mechanism
 National Income determination through circular flow diagram that relates expenditure
to income method of calculation.
 Difference between GDP and GNP
 Two quizzes as a means of summarizing content, notes may be used to when
answering teacher produced questions.
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AP Microeconomics Course Syllabus
Final Exam Review
Review of Macroeconomic Topics
Week
21
Assignments and Assessments
1. Students will maintain a notebook, containing all handouts, notes, quizzes, and tests that
demonstrate the qualities of being complete, neat and accurate.
2. Weekly quizzes and unit examinations will be given with each reflecting the difficulty of
the AP exam.
3. Analysis of the current event articles is a common theme i.e. black market pricing, as it is
applicable to a shortage of good/service.
4. Students will be expected to understand economics through analysis of graphs and to
explain their understanding through well labeled and accurately produced diagrams.
Listed below are several examples for which understanding will be measured through
group discussions, power point presentations and the application of their understanding
as they analyze current event articles.
A. The graph depicting AR /MR/TR/Unit elasticity /inelastic and elastic halves of the
AR curve, noting that MR is the derivative of the TR curve and clearly
demonstrating the graphical analysis that leads to the pricing decision making of
a firm that aims to maximize revenue.
B. The graph of the profit squeeze that leads to long run equilibrium in a perfectly
competitive industry.
C. Long run equilibrium graphs for monopoly, monopolistic competition and
Oligopoly.
D. A graph that demonstrates the different output decisions that a government might
enforce to regulate a monopoly i.e. force the monopoly to operate where it is
allocative efficient, technologically efficient, maximize revenue or cause the firm
to earn normal profits.
E. Use graphs to explain deadweight loss regarding the imposition of an indirect tax
(including the understanding of the “burden of the tax”) and the establishing of a
tariff against imported goods.
F. Use linear graphs to represent the grades through trade as countries pursue their
competitive advantage and relate this to economic growth.
G. Use graphs to demonstrate free trade, quota restricted trade and tariff restricted
trade.
5. Assessment will be an ongoing activity within class and will include but will not be limited
to the following
A. Written response to questions representing the rigor of the free response
questions of the AP exam.
B. Oral presentations to small groups and the class.
C. Oral and visual presentations that demonstrate the connection between theory
and reality as the thinking of young economist is applied.
D. D. After students take examinations representative of the rigor of an AP
examination, each will prepare an error analysis of each of the aspect of the
exam that was not correctly answered.
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AP Microeconomics Course Syllabus
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