Course Description: A.P. Economics is a rigorous; yet rewarding examination of the fundamental principles which govern economic activities at both the level of the individual and firm , and also that of the aggregate economy. In addition to preparing a student for the A.P. exam in both micro and macro economics, a major emphasis of this course will be on the development of critical thinking skills and the application of economic principles and methodologies in problem solving. Consequently, the course will incorporate a wide variety of activities including formal instruction in writing; debates; presentations; research projects; and problem solving competitions in addition to traditional lectures, exams and homework problems.
MICROECONOMICS OUTLINE
I. Basic economic concepts
A. Scarcity, Opportunity Cost, and Production Possibilities
B. Specialization and Comparative Advantage
C. Functions of economic systems
II. Nature and Functions of Product Market
A. Supply and Demand
B. Consumer Demand
1. Marginal Utility Theory
2. Elasticity
C. Firm Production, cost, and revenues
1. Marginal product and diminishing returns
2. Average and marginal costs and revenues
3. Long run cost and economies of scale
D. Product Pricing and outputs in Firms and in the market
UNIT SEVEN: DETERMINING NATIONAL INCOME AND PRODUCT
UNIT EIGHT: AGGREGATE SUPPLY AND DEMAND
UNIT NINE: FISCAL POLICY
UNIT TEN: MONEY AND BANKING; CREATION OF MONEY; MONETARY POLICY:
UNIT ELEVEN: MONETARY AND FISCAL POLICY IN BOTH THE SHORT AND LONG RUN; STABILITY AND ECONOMIC GROWTH
UNIT TWELVE: ECONOMIC SCHOOLS OF THOUGHT PAST AND PRESENT
UNIT THIRTEEN: INTERNATIONAL ECONOMICS
UNIT FOURTEEN: EXAM REVIEW
UNIT FIFTEEN: RESEARCH PROJECT AND PRESENTATION
REQUIREMENTS AND EXPECTATIONS:
1)All students will act in a respectful, positive manner toward both the instructor and peers during class.
2)Students will complete all assigned work. Failure to meet this requirement will result in an "N" grade.
3)Students will attend class.
4)Missed work, tests and quizzes will be turned in or taken the first day back from an absence.
5) All work must be done at a 2.1 level to receive credit. Work not completed at this level will be redone through a variety of measures including re-taking exams, projects, and presentations.
RESOURCES:
WEB:
http://www.amosweb.com/tst/----This site contains a great test generator which allows you to hone in on various topics.
http://www.bls.gov/home.htm----This link will take you to the Department of Labor BLS statistics page. This information will prove indispensable for a some of your projects.
