AP Economics Agenda for 1/27-3/28
**Agenda is subject to change**
Monday, January 27, 2014: (Objectives: Students will be able to: 1) Identify the
conditions necessary for perfect competition; 2) Graph cost curves in a perfectly
competitive market; and 3) Identify how monopolies can maximize profit)








Welcome!
Warm Up: What are the conditions necessary for perfect competition?
Pair Activity: Graphing Perfect Competition
Discussion Question: What do we know about monopolies?
Notes: Monopolies
Pair Activity: Article from Ch. 10 De Beers Diamonds---Read and answer
Questions
Closing: Review the article and answers---submit
Homework: Read Ch. 10; Answer "Study Questions" #2, 5, 7, and 11----Due
Friday, January 31, 2014
Wednesday, January 29, 2014: (Objectives: Students will be able to: 1) Graph
Perfect Competition; and 2) Analyze monopolies and how monopolies maximize
profit)








Welcome!
Warm Up: Sample Free Response (2011 Form B #1)
Review Free Response
Notes: Monopolies
Pair Activity: Article from Ch.10 De Beers Diamonds---Read and answer
Questions
Review Article
Closing: Pure Monopoly Review
Homework: See previous class---Review central themes and ideas from
"Undercover Economist"
Friday, January 31, 2014: (Objectives: Students will be able to: 1) Analyze
monopolies and how monopolies maximize profit)








Welcome!
Collect Homework: Ch. 10 Study Questions AND Graphing Perfect
Competition Packet
Warm Up: What are monopolies?
Notes: Monopolies
Pair Activity: Article on De Beers Diamonds---Read and answer Questions
Review Article
Closing: Pure Monopoly Review
Hand out Socratic Seminar information

Homework: Prepare for Socratic Seminar---Next Class!
Socratic Seminar Guidelines
Socratic Seminar Questions
Tuesday, February 4, 2014: (Objectives: Students will be able to: 1) Analyze and
discuss themes from "Undercover Economist" and connect them to class; and 2)
Identify, graphically, how a monopolist maximizes profit)





Welcome!
Socratic Seminar: The Undercover Economist
Notes: Profit Maximization in Pure Monopoly
Closing: Pure Monopoly Review---Collect
Homework: Economic Literacy
Thursday, February 6, 2014: (Objectives: Students will be able to: 1) Identify and
explain, graphically, how a monopolist maximizes profit)







Welcome!
Collect and Review Economic Literacy
Review Question: Profit Maximization in Competition
Notes: Profit Maximization in Monopoly
Activity: Pure Monopoly Review
Closing: Collect and Review Worksheet
Homework: Read Chapter 11, answer Study Questions #2, 7, 8, 9, and 11--Due next Wednesday
Monday, February 10, 2014: (Objectives: Students will be able to: 1) Review the
concepts of monopolies; and 2) Explain price discrimination and how it works)







Welcome!
Review: Monopoly worksheet
Intro Question: Is price discrimination ever a good thing?
Notes: Price Discrimination
Pair Activity: Price Discrimination worksheet
Closing Task: Examples of Price Discrimination in your day?
Homework: Chapter 11 Study Questions due next class!
Wednesday, February 12, 2014: (Objectives: Students will be able to: 1) Review
Price Discrimination; 2) Define oligopolistic market structure; and 3) Analyze and
evaluate Game Theory and the Prisoner's Dilemma)





Welcome!
Review Price Discrimination: Pair worksheet
Collect Chapter 11 Study Questions
2007 Micro Free Response---Complete and grade
Notes: Oligopolies and Game Theory


Closing Task: 2003 Micro Free Response
Homework: STUDY! Test Next Tuesday!
Wednesday, February 19, 2014: (Objectives: Students will be able to: 1) Test
Unit 3)






Welcome!
AP Unit 3 Test
Begin Unit 4: Factor Markets--Describe it
Notes: Resource Demand
Activity: Circular Flow Diagram
Homework: Read Chapter 12; Reading Quiz on Tuesday
Friday, February 21, 2014: (Objectives: Students will be able to: 1) Identify
"Derived Demand" and how it shifts; and 2) Review the circular flow diagram and
the factors of production)







Welcome!
AP Exam Sign Up reminder
Introduce Factor Markets: Show Visual
Notes: Resource Demand
Activity: Review Circular Flow
Notes: Factors of Production
Homework: Prepare for Reading Quiz on Tuesday
Tuesday, February 25, 2014: (Objectives: Students will be able to: 1) Review
Derived Demand; and 2) Explain the concept of Marginal Productivity of Labor)






Welcome!
Reading Quiz: Ch. 12
Warm Up: What is "Derived Demand?"
Notes: Factors of Production/Marginal Productivity of Labor
Pair Activity: Labor worksheets (activities 44-46)
Homework: NONE (shocking)
Thursday, February 27, 2014: (Objectives: Students will be able to: 1) Define and
explain the Value of Marginal Productivity of Labor--VMPL; and 2) Explain the
Marginal Productivity Theory of Income Distribution and assess the theory's
validity)






Welcome!
Warm Up: What is VMPL? What is the formula for finding it?
Brief Worksheet---How many workers to hire?
Finish Activity Packet from last class---Labor worksheets
Review Activity Packet
Discussion Question: The Value of a Person



Notes: Marginal Productivity Theory of Income Distribution
Closing: Do you agree with this theory? Why or why not?
Homework: Read Chapter 13, take notes---Reading Quiz on Wednesday
next week!
Wednesday, March 5, 2014: (Objectives: Students will be able to: 1) Explain the
Marginal Productivity Theory of Income Distribution and assess its validity)







Welcome!
Reading Quiz: Chapter 13--DELAYED
Warm Up: Go back over discussion question---value of a person
Notes: Marginal Productivity Theory of Income Distribution
Closing: Do you agree with this theory? Why or why not?
Hand back Unit 3 Tests
Homework: Reading Quiz Chapter 13 on Friday!
Friday, March 7, 2014: (Objectives: Students will be able to: 1) Analyze
competitive labor markets and their impact on wage rates; and 2) Explain why
wage differentials occur)






Welcome!
Reading Quiz: Chapter 13
Hand back Unit 3 Test: Questions?
Notes: Purely Competitive Labor Markets and Wage Differentials
Pair Activity: Review sheets
Homework: Unit 4 Quiz on Tuesday---Notes online over the weekend
Tuesday, March 11, 2014: (Objectives: Students will be able to: 1) Assess
knowledge of Factor Markets; 2) Identify difference between Public and Private
Goods; and 3) assess externalities)







Welcome!
Unit 4 Quiz
Warm Up; Cap and Trade?
Notes: Public Goods
Pair Activity: Reading on Externalities with questions
Closing Task: Review the questions
Homework: NONE
Thursday, March 13, 2014: (Objectives: Students will be able to: 1) Identify
difference between public and private goods; and 2) Explain common resources
and the Tragedy of the Commons)



Welcome!
Finish reading on externalities with questions
Review Questions






Notes: Public Goods
Pair Activity: Quick worksheet on public goods
Discuss examples of externalities----should the government regulate to
correct?
Notes: Common Resources
Closing Activity: Externalities worksheet
Homework: Read Chapter 18, take notes to use on reading quiz MONDAY!
Wednesday, March 19, 2014: (Objectives: Students will be able to: 1) Review
Private vs. Public Goods; and 2) Explain common resources and the Tragedy of
the Commons)








Welcome!
Chapter 18 Reading Quiz
Finish Notes: Public Goods
Pair Activity: Quick worksheet on public goods
Discuss externalities---should the government regulate to correct?
Notes: Common Resources
Closing Task: Externalities worksheet
Homework: NONE
Friday, March 21, 2014: (Objectives: Students will be able to: 1) Explain Circular
Flow Diagram of the whole economy; and 2) Identify GDP, its components, and
how to calculate real vs. nominal GDP)








Welcome!
Finish and Review Externalities worksheet
Begin macroeconomics---review unit 1 quickly
Discussion Question: How would you evaluate performance of US
Economy?
Notes: Circular Flow in Macro and GDP
Activities: Circular Flow and GDP worksheets
Closing: Review worksheets; read BEA latest analysis of GDP
Homework: Read Chapter 24, take notes---Reading Quiz next THURSDAY!
(last B day of the quarter)
Tuesday, March 25, 2014: (Objectives: Students will be able to: 1) Calculate real
vs. nominal GDP; 2) Identify and define the types of unemployment; and 3)
Calculate unemployment)






Welcome!
Warm Up: Components of GDP--What are they?
Notes: Nominal v Real GDP
Activity: Lesson 1 Activity 10
Review the activity
BEA Article---3-2-1




Discussion Question: How to fix unemployment?
Notes: Categories and calculations of unemployment
Closing Task: Which calculation of unemployment is correct?
Homework: Chapter 24 Reading Quiz next class!
Thursday, March 27, 2014: (Objectives: Students will be able to: 1) Categorize
and calculate unemployment; and 2) Identify, define, and calculate inflation)









Welcome!
Chapter 24 Reading Quiz
2008 Sample Free Response Macro
Notes: Categories and Calculations of Unemployment
Unemployment Review sheets
Notes: Inflation and calculation
Inflation worksheets
Inflation Game: Royalty for a Day
Homework: NONE