Advanced Placement Economics Syllabus
(Fall Semester - Micro and Spring Semester - Macro)
This is a year-long course in which the students will be introduced to both Micro Economics and
Macro Economics. Students enrolled in the course are expected to take both examinations in
May, but this is no longer required for the 1.0 weighting. Students who do not take the
examination will be given an alternative assessment in order to receive the 1.0 weighting.
In order to receive college credit, the following grading scale is utilized by the College Board:
AP Grade
5
4
3
2
1
Qualification:
Extremely well qualified (15%)
Well Qualified (23% )
Qualified (15 % of the tests)
Possibly Qualified (20%)
No Recommendation (28%)
Those receiving a 3 or better is usually approximately 53% of all the tests. Most universities
and colleges require a grade of 3 or better on the AP Examination for credit. Please check with
the college you are attending to determine their policy.
The Exam Structure
Each examination is a little over two hours long. The exams consist of a 70-minute multiplechoice section along with a 60 minute free response section. Some questions found on the free
response section require graphical analysis. The free response section begins with a mandatory
10 minute reading period. During this period, students are advised to read each of the
questions, sketch graphs, make notes and plan their responses. Students then have an
additional 50 minutes to write their answers. The multiple-choice section, which has 60
multiple choice questions, accounts for two-thirds of the student's exam grade and the free
response section for the remaining one-third.
Textbook and Supplemental Materials
McConnell, Campbell and Stanley Brue. Economics, 18th edition, New York, McGraw- Hill,
2009.
Morton, John S. and Rae Jean B. Goodman. Advanced Placement Economics Teacher Resource
Manual, 3rd edition. NCEE.
Videos from YouTube - including mjmfoodie videos and ACDC Leadership videos.
Strongly recommended: Students should purchase a review book - I recommend 5 steps to a 5.
Teacher Guidelines for Students Enrolled in the Course:
Classroom Assignments:
Unit Tests:
Students should expect at least two unit test per marking period - each unit
test will cover approximately three to four chapters from the textbook. Students
are encouraged to read not only their notes, but the textbook for the
unit tests. Students will be given ample notice prior to each unit test.
The Unit Tests will consist of multiple choice questions taken from either
released AP Examinations and/or study guides. Students will be given a time
limit for the multiple choice portion of the test.
The section part of the tests will include free response questions that relate
to the topic being studied at the time. They are questions from released AP
examinations, thus students may find assistance with the questions on line.
Unit Tests will be graded AP Style, thus not "true percentage" wise. Tests will
count double in the grade book.
Vocabulary
Quizzes:
Students will be given a vocabulary list at the start of each unit. They will be
asked to define the words and study the definitions. A vocabulary quiz will
be given for each unit; it may be matching, fill in the blank or a combination of
the two. Quizzes are counted one time in the grade book for 50 points.
Notebook:
Students are strongly encouraged to maintain a notebook for this course with
sections for vocabulary, classwork, practice questions, free response questions,
notes and review materials.
Classwork:
During class time, students will be asked occasionally to complete worksheets
that deal with the concept being taught at the time.
Guidelines for success:
1.
Students should be reading and outlining the chapters in their textbook that correspond
to the topic being studied. Please remember that the teacher is using various sources
for the notes given in class.
2.
Learn and love the graphs used in Economics. Please follow the guidelines given out
in class.
3.
Create study groups. Sometimes this is the best way to learn - get help from another
student, but choose a student that has similar work ethics as to your own.
5.
REVIEW, REVIEW and REVIEW some more.
6.
Last, come in for assistance. Generally, the teacher is available on a daily basis from
approximately 8:15 in the morning until the first bell. Also, check the schedule that
is posted on the teacher's door and website.
Student Expectations:
1.
Be on time to class - tardiness is not an acceptable trait to have in school or the real
world. The school's tardy policy will be followed – look in your handbook for the
consequences associated with being late to class and/or late to school.
2.
Late Work: another trait which is not considered to be acceptable. Students who
turn their work in late will have points deducted.
3.
Attendance: Students are expected to be in class on a daily basis - for most classes
a great deal of information could be missed due to an absence. Students are
responsible for finding out what was missed and making up the work within a timely
fashion.
Should you miss a test or quiz, then you have ONE week for a quiz and TWO weeks
for a test to be made up. Different versions of the original test are used for make up
tests and/or quizzes.
Micro Economics Basic Outline:
I.
II.
III.
Basic Economic Concepts
a.
Scarcity, choice and opportunity costs
b.
Production Possibilities Curve/Frontier
c.
Comparative Advantage, Absolute Advantage, Specialization and Trade
d.
Economic Systems
e.
Property Rights and the role of incentives
f.
Marginal Analysis
The Nature and Functions of the Product Markets
a.
supply and demand
b.
Theory of consumer choices
c.
Production and Costs
d.
Firm Behavior and Market Structure
Factor Markets
a.
Derived Demand
b.
Marginal Revenue Product
c.
Labor Market and Firms' Hiring of Labor
d.
Market Distribution of Income
IV.
Market Failure and the Role of the Government
a.
Externalities
b.
Public Goods
c.
Public Policy to Promote Competition
d.
Income Distribution
Macro Economics Basic Outline
I.
II.
III.
IV.
V.
VI.
VII.
Basic Economic Concepts
a.
Scarcity, choice and opportunity costs
b.
Production Possibilities Curve/Frontier
c.
Comparative Advantage, Absolute Advantage, Specialization and Trade
d.
Demand, supply and market equilibrium
e.
macroeconomic issues: business cycle, unemployment and inflation and
growth
Measurement of Economic Performance
a.
National Income Accounts
b.
Inflation measurement and adjustment
c.
Unemployment
National Income and Price Determination
a.
Aggregate Demand
b.
Aggregate Supply
c.
Macroeconomic Equilibrium
Financial Sector
a.
Money, Banking and Financial Markets
b.
Central Bank and the control of the Money Supply
Inflation, Unemployment and Stabilization Policies
a.
Fiscal and Monetary Policies
b.
Inflation and Unemployment
Economic Growth and Productivity
a.
Investment in Human Capital
b.
Investment in Physical Capital
c.
Research and Development and Technological Progress
d.
Growth Policy
Open Economy: International Trade and Finance
a.
Balance of Payment Accounts
b.
Foreign Exchange Market
c.
Net Exports and Capital Flows
d.
Links to Financial and Goods Markets