Good News from Micro 2011

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Cracking the Free Response in AP
Macroeconomics and Microeconomics
Patricia Brazill
Co-Chair, Macro Test Development
Irondequoit High School
Rochester, NY
Patti_Brazill@westiron.monroe.edu
Sandra Wright
Micro Test Development
Adlai Stevenson High School
Lincolnshire, IL
swright@d125.org
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Emphasize the concepts and skills so they
know how to drive the AP Econ Car and read
the Map (FRQ Questions) so that no matter
what question is asked they can rely on their
knowledge of how to drive and read the map
to go where ever the question asks…
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2010 Macro
53% 3 or above
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You want your students FRQs to exceed
average scores!
When answering the Macroeconomics or
Microeconomics free response questions, a
student should respond clearly and
concisely. Including paragraphs or even
full-sentence responses is not always
necessary; however, it is important to
address the verb prompts appropriately (as
explained below). A written response that
presents conflicting answers is likely to
lead to the loss of points.
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“SHOW” means use a diagram (graph).
Correct labels are critical!
“EXPLAIN” means to take the reader through
all the steps or linkages in the line of
reasoning. Often a formula or graph will
work.
“IDENTIFY” means provide a specific answer, a
list, a point on a graph, without explanation
“CALCULATE” means use math to determine a
specific numerical answer and show work
 Correctly
drawn and labeled
AD/AS models
 Correctly drawn Production
Possibilities model
 Showing a recession on a PPF
Content Areas:
 Foreign Exchange Market
 Fiscal Policy Effect on AD
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Content Areas:
The Mechanics of Money Creation
Categories of Unemployment
Classical Adjustment to Recession
 General
Content Areas:
 Money and Banking
 Real vs. Nominal Distinction
 International Economics
Determining Pe and Qe on a Monopoly
graph
 Firm Graph in PC market
 Price ceiling on a PC market graph
 Finding Allocative Efficienct Quantity
when an externality exists

Elasticity
 Consumer surplus when price
discrimination
 PC Labor market graphs
 finding DWL when externality exists
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Monopoly Graph
◦ Marginal Revenue and Demand Curves
◦ Profit Max Quantity where MR = MC
◦ Price on Demand Curve above Q*
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Finding Total Utility by Summing MU
Identifying Domestic Production Level in
Situation with Imports and a Tariff
9. Optimal Consumption
Rule
7. Effect of Subsidy on
Quantity Produced
6. Effect of Lump-Sum
Subsidy on Deadweight
Loss
5. Tariff Revenue
4. Value of Consumer
Surplus
3. Cross-price Elasticity
2. Effect of Price Increase
on Total Revenue
1. Surplus-maximizing
Tariff
Special Mention: Labels!
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Ask students to show their work for calculation
problems.
They should include both the formula used and the
numbers used in their calculations. This will help you
find the errors in their thinking
GO BACK TO THE BASICS AT THE END OF THE COURSE
Use the notes from the Chief Reader (Scoring plus
Samples and Commentary
Use your Instructional Planning Report from College
Board
Teach the VERBAGE
GRAPH GRAPH GRAPH!!!!!
Score FRQs from a grid
Take frequent timed FRQ TESTS  Short FRQs are 12 minute
questions
 Teach students to grade from rubric
 Mini white boards – look at their
models!
 Sidewalk chalk – muscle memory
 Presentations of Macro and Micro 1
to class
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Production Possibilities
Supply and Demand
Aggregate Supply and Demand with vertical
Long Run Aggregate Supply
Phillips Curve
Money Market Model
Loanable funds
Currency market with simple Supply/Demand
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Production Possibilities
Supply and Demand – Include tariffs, tax
incidence, and world prices in your analysis
Perfect Competition side-by-side graphs
Monopoly
Monopolistic Competition
Payoff matrix in Game Theory
Labor market – side by side graphs
Monopsony
Fiscal Policy,
discretionary and
automatic
Frequently Tested Concepts in Macro FRQ’s 1995-2011
2000 #1
2001 #1
2002 #1
2003 #1,2 2003B #3
2011/B#1
2011 #1
auto
1995 #1
2009 B#1
1995 #2
2010 #1
auto
1997 #3
2010B #1
2005#1
2005 #3
AD/AS Model
1995 #1
2003B-1
2010 B-1
1996 #1
2004 #1
2010B #3
1997 #3
2004B-1
2011 #1
1998 #1
2005 #1
2011B #1
1999 #1
2006 #1
2012 #3
2000 #1
2007#1
2001 #1
2006B #1
2002 #1
2007B #1
2002B #1
2009B#1
2003 #1
2010 #1
Money Market
Model
1999 #1
2007B #1
2000 #3
2209 #1
2002 #1
2009 #3
2003 #1
2009B #2
2004 #1
2010 #2
2005B-1
2010B#2
2005 #1
2012#1
2006 #2
2007#1
2006B #2
Interest rate
effects (on I or
growth or 4-x)
Monetary Policy
1995 #1
2009#2
1997 #1,3 1999 #1
2009B #3 2010 #1
2003 #3
2011 #2
2001 #1
2012#1
2002 #1
2003B #1
2004 #1
2007#2
2007B #4
1996 #2
2005B-1
1997 #1
2007#2
1997 #3
2009 #1
1999 #1
2010 #2
2000 #3
2010B #2
2002 #1
2011 #1
2002B #1
2011 #3
2003 #1,2 2004 #1
2011B #2 2012#1
2004B #1
Crowding Out
1995 #2
Keynesian v.
Classical thought
Inflation impact
1995 #1
2004 #1
2007B #1
2010 #1
2011 #1
2011B#1
1995 #1
1996 #1
2002B-1
2003 #1
2004B-1
2011B #3
Long run growth
1995 #1
4-X
1996 #2
2006 #1
2000 #1
2002 #2
2006 #3
2008 #1
2009 #2
2010 #1
2011 #1
1998 #3
2007#1
1999 #1
2006B #1
2000 #2
2007B #3
2001 #2
2012#3
2002 #3
2009 #2
2002B #3
2009B #3
2003B #1
2010 #3
Balance of Trade
1996 #2
2008 #2
1998 #3
2010 #3
1999 #1
2012#1
2001 #3
2002 #3
2002B-3
2003 #1,2 2003B-1
Multiple Expansion
of $
Elasticity
1996 #3
2001 #3
2004 #3
2006#2
2009 #3
2009B #2
2011#3
2012#2
Loanable Funds
1997 #1
2010B #1
2002 #2
2011 #2
2003B-1
2011B 1
2004 #2
2006 #2
2007#2
2006B #2
Circular Flow
1997 #2
2003B-1
Nominal – real
interest rates
1997 #1
2011B #3
1998 #1
2012#1,3
1999 #2
2005 #1
2005B-2
2006#2
PPF/comp. adv.
2003 #2
2003B-2
2004B-3
2005B-2
2007B #2
Phillips Curve
1999 #1
2010B #1
2001 #1
2011 #1
2003B-3
2011B #1
2004B-1
GDP
2007 #3
2011B#3
Inf Expectations
Bond prices/rates
2004 #2
2010B #2
2005B #3
2011 #2
2004 #2
2005B #3
2007B #2
2008 #1
2010 #1
2007#2
2006B #2
2009 #1
2010B #2
2008#3
2010B #1
2102#1
2005B-1
2006 #3
2006B #3
2008 #1
2009 #1
2009B #1
2010#2
2011 #3
1997 #1
2009 #1
Frequently Tested Concepts in Micro FRQ’s 1995- 2011
Supply and Demand Grapsh
1995 #1
2010 #1
1998 #!
2010B #2
1999#1
2000 #3
2003#2
2004B#3
2004 #2
2005B#3
2005#2
2006B #3
Externalities
1995 #2
2011 #3
1992 #3
2001 #2
2002B #2
2002#2
2003 #1
2004 #1
2006 #3
2009 #1
2009 #2
Allocative (economic) efficiciency
(MSC=MSB)
2004#1
2005 #1
2006 #3
2008#2
2009 #1
2009 #2
2009B#1
2010 #2
2010B #1
2011 #1
2011 #3
2011B #2
2001 #1
2002B #1
2002 #1
2003B #3
2003 #1,2
Relationship of P and MR
1995 #3
1996 #3
1999 #3
2003 #2
2010B #1
2011 #1
MR = MC rule
1995 #3
1996 #1,3
1997 #2
1998 #1,3
1999 #3
2000 #1
2004B#1
Monopoly Model
1996#1
2004 #1,3
1997 #2
Natural
2005B #1,2
2005 #1
1998 #3
1999 #3
2008 #2 natural
2009 #1
2006B #1
2006 #1
2007B #1
2000 #1
2003B #1
2003 #2
2010B #1
2011 #1
2008#1
2010 #1
2010B #1
2011 #1,2
2102 #1
2004B #1
2004#1
2005B #1
2006 #1
2006B#1
2007A
Price Discrimination
1998 #3
2011 #1
Elasticity/TR test
*cross elasticity*
Income elasticity
Perfect Competition
Product market and firm, side by side
1996#2
1998 #3
2000 #3
2004B #1
2004B #2
2005B #3
2008 #1
2009B2*
2010B#3
2011 #1
2012#2
1995 #3
1996 #1
1999 #3
2000 #1
2001 #1
2002B #2
2002 #1
2003B #1
2003 #1
2004 #1
2005B #2
2006B #2
2007 #2
Labor
2008#1
2009 #1
Monopolistic Competition
2002B #1
2007B #1
2009B #1
Market power
1995 #1
Price Ceilings/Floors
1996 #2
1998 #1
2001 #1
2002B #3
2006B #2
2008#2
2011 #1
2011B #3
Labor Market
MRP=MRC rule
1997 #1
1998 #2
2000 #2
2002 #1
2003B#3
2003#3
2005B#1
2005#3
2005B #1
2007 #2
2010 #2
2001 #3
2010B #2
2002B #3
2006B#2
S & D analysis of tariff/world market
2000 #3
2003B #2
2004 #3
2004 #3
2004 #2
2012#3
Consumer/producer surplus
2002B#1
2003B#2
2003 #2
2004 #2
2006B #2
2009 #2
2010 #3
2012#3
Tax incidence
2004B #2
2005 #2
2009 #2
Deadweight loss
2003B #1
2005 #1
2010 #3
2011 #3
2012#1
Equimarginal principal
2002 #3
2003
2008#2
2009B#2
2012#2
Oligopoloy/game theory
2007B #2
2007 #3
2009 #3
2009B #3
Lump sum,
Per unit tax/subsidy
2008#1
2009 #1
2009 #3
2009B #3
Economies of scale
2009B #1
Income effect
2009B #2
Substitution effect
2009B #2
MONOPSONY
2011B3
2010 #1
2011 #2
2012#1
2011B#1
2011 #2
2011 #2
2012#1
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