AP Macro Economics 1st Quarter Calendar 2012-2013
Unit 2: Measuring Economic Performance (Ch.7-8)
(3- 4 weeks)
Circular Flow of Income, Macroeconomic Goals, Macroeconomic Measurement
Inflation and Price Indexes, Unemployment, Business Cycles
UNIT II
Date
Classwork
Homework
9/16/13 Mon
Review Exam
Unit II calendar
9/17/13 Tue
Introduce Macroeconomics
Visual 2.1 and 2.2 ACT 9 & 10
Visual 2.3 discuss circular flow
9/18/13 Wed
Economic Goals visual 2.4
Ch 7 PP measuring econ variables
(ACT 11)
9/19/13 Thur
all about GDP econ measurements
ACT 12
9/20/13 Fri
ch 8 PP price index & inflation (ACT 13)
9/23/13 Mon
Inflation game (ACT 14)
ch 8 R&O Unemployment
Questions 5-15
9/24/13 Tue
Inflation simulation / film (ACT 15)
ch 8 R&O (146-154)
Questions 16-29
9/25/13 Wed
9/26/13 Thur
ch 7 R&O 116 -124
questions 1-8
ch 8 R&O 136-140
Questions 1-4
types of unemployment / econ stability
(ACT 16)
Phase of Business cycle visual 2.7 (ACT 17)
9/27/13 Fri
Macro indicators
9/30/13
10/1/13
10/2/13
10/3/13
10/4/13
Unit II review
Unit II multiple choice exam
Unit II Free Response exam
Review Multiple Choice skills
Review Free Response exam
Unit III
Mon
Tue
Wed
Thur
Fri
ch 7 R&O 124-131
Questions 9-15
ACT 18
Unit II review guide
review
corrections
corrections
ch 9 R&O 166-170 QQ 9.5
& stop QR 9.2
Ch 7 116-124
1.
2.
3.
4.
5.
6.
7.
8.
What does National income accounting measure?
Define what Gross Domestic Product is
What is an intermediate good?
What is a final good?
List what is excluded from GDP
What two approached can economists use to measure GDP?
What are the four components used to determine the expenditure approach of GDP?
What are the 5 areas economists look at to determine the income approach of GDP?
Ch 7 124-131
9. What is disposable income
10. What is the difference between nominal GDP and real GDP?
11. What is a price index?
12. Formula for price index?
13. Formula to determine Real GDP
14. What is the consumer price index?
15. List at least 3 shortcomings of GDP.. with examples for each shortcoming.
Ch 8 136-140
1.
2.
3.
4.
List two ways economists determine economic growth
List examples of what may cause economic growth
List the four phases of a generalized business cycle
Graph what a business cycle may look like
Ch 8 140-146
5. Who is defined as being in the labor force?
6. How is one determined to be unemployed?
7. Are discouraged workers counted in the unemployment statistics?
8. Formula for the Unemployment rate
9. List the 3 types of Unemployment
10. Define Frictional Unemployment
11. Define Structural Unemployment
12. Define Cyclical Unemployment
13. Define full employment--- what two types of unemployment might it be experiencing
14. What is Okun’s Law
15. What factors have proven to cause an unequal balance in unemployment?
Ch 8 146 – 154
16. What is inflation
17. Formula to measure inflation
18. List the two types of inflation
19. What is demand pull inflation ( graph)
20. What is cost push inflation (graph)
21. Nominal income vs. real income
22. Formula for real income
23. Who is hurt by inflation?
24. Who is unaffected or hurt by inflation?
25. What does COLA stand for?
26. Nominal Interest rate vs. real interest rate
27. Formula for Nominal interest rate
28. What is deflation?
29. What is hyperinflation?