Syllabus

AP Macroeconomics

1 Unit Overview: What Is Economics?

1.1       Lesson Overview: What Is Economics?

1.1.1      Practice: Introducing Macroeconomics

Go over the format and goals of the course.See how to succeed in the course and what to expect on the AP exam.

Duration: 30 mins

1.1.2      Discuss: Why Study Economics?

Before exploring the details of macroeconomics, introduce yourself and discuss your definition of economics and reasons for studying it, with your classmates.

Duration: 30 mins                Scoring: 10 points

1.1.3      Study: Introduction to Economics

Explore the basics of economics, including goods, services, markets, and a fundamental concept of economics: scarcity.

Duration: 1 hr 30 mins

1.1.4       Practice: Investigate Graphing

Review the basics about tables, graphs, equations, slopes, and intercepts.

Duration: 30 mins                 Scoring: 20 points

1.1.5       Practice: Investigate Economics as a Science

Explore the scientific method and look at mistakes common to all scientists. Examine some special difficulties  faced by economists using the scientific method.

Duration: 30 mins                 Scoring: 20 points

1.1.6 Study: Economic Systems

Examine the major questions each economic society faces and explore the different ways traditional, command, and mixed economies answer these questions.

Duration: 1 hr 45 mins

1.1.7 Discuss: The U.S.Economic System

Discuss traditional and command market aspects of the U.S. economy.

Duration: 30 mins                 Scoring: 10 points

1.1.8 Quiz: Wrap-Up

Answer questions to assess your understanding of the content.

Duration: 45 mins                 Scoring: 20 points

1.2       Lesson Overview: Wrap-Up

1.2.1      Review: What Is Economics?

Review your studies of economics and economic systems.

Duration: 2 hrs

1. 2.2 Practice: What Is Economics?

Using common economic terms, complete a crossword puzzle

Duration: 30 mins

1.2.3 Discuss: Cram Session

Discuss economic terms and other areas about which you are unclear.

Duration: 30 mins                 Scoring: 10 points

1.2.4 Test(CST): What Is Economics?

Take a computer-scored test to assess what you have learned in this unit.

Duration: 40 mins                 Scoring: 90 points

1.2.5       Test (TST): What Is Economics?

Take a teacher-scored test to assess what you have learned in this unit.

Duration: 20 mins                 Scoring: 45 points

2 Unit Overview: Basic Economic Concepts

2.1 Lesson Overview: Costs and Benefits

2.1.1      Study: Costs and Benefits

Explore benefits and costs and see how people compare them to determine their highest net benefit. Also look at the related concepts of self-interest, opportunity cost, and sunk cost.

Duration: 1 hr 30 mins

2.1.2       Discuss: Weighing Costs and Benefits

Discuss the costs and benefits of taking an AP class.

Duration: 30 mins                 Scoring: 10 points

2.1.3 Study: Production Possibilities Frontier

Examine the production possibilities frontier (PPF) and how it's created. Investigate the relationship of opportunity cost and production,and look at the role of efficiency in the graph of  the production possibilities frontier.

Duration: 1 hr 45 mins

2.1.4 Practice: Investigate the PPF

Investigate the production possibilities frontier (PPF) and the associated concepts of efficiency, inefficiency, and    unattainable production.

Duration: 30 mins                 Scoring: 20 points

2.1.5 Quiz: Wrap-Up

Answer questions to assess your understanding of the content.

Duration: 45 mins                 Scoring: 15 points

2.2        Lesson Overview: Production and Trade

2.2.1      Study: Individual Production and Trade

Learn about the concepts of absolute advantage and comparative advantage, as well as how and why people agree to trade with each other.

Duration: 2 hrs

2.2.2      Practice: Investigate the Absolute and Comparative Advantage

Investigate the concepts of absolute advantage and comparative advantage.

Duration: 30 mins                 Scoring: 20 points

2.2.3 Discuss: Comparative Advantage

Discuss comparative advantage in the context of a given scenario.

Duration: 30 mins                 Scoring: 10 points

2.2.4 Study: National Production and Trade

Explore how specialization increases wealth and look at a PPFfor an entire economy. Explore the things that increase the possible production in an economy,and examine the role of trade in determining the PPF.

Duration: 2 hrs

2.2.5      Practice: Apply Concepts of Production and Trade

Bring together concepts about trade between individuals and between nations, and show how they work together.

Duration: 1 hr                         Scoring: 60 points

2.2.6 Quiz: Wrap-Up

Answer questions to assess your understanding of the content.

Duration: 45 mins                 Scoring: 15 points

2.3 Lesson Overview: Demand and Supply

2.3.1 Study: Demand

Examine the concept of demand, demand curves, changes in demand, and the measure of price elasticity of demand.

Duration: 1 hr 45 mins

2.3.2 Practice: Investigate Demand

Use graphs and other methods of analysis to answer questions on demand,a change in quantity demanded,and a change in demand.

Duration: 30 mins                 Scoring: 20 points

2.3.3 Discuss: Demand Curves

Discuss what the government can do to raise or lower demand.

Duration: 30 mins                 Scoring: 10 points

2.3.4 Study: Supply

Examine the concept of supply, supply curves, changes in supply, and the measure of price elasticity of supply.

Duration: 1 hr 30 mins

2.3.5 Practice: Investigate Supply

Use graphs and other methods of analysis to answer questions on supply, a change in quantity supplied,and a  change in supply.

Duration: 30 mins                 Scoring: 20 points

2.3.6 Study: Equilibrium

Explore the concept of equilibrium and see how to determine changes in equilibrium.Examine government intervention-price supports and price floors-and the corresponding surpluses and shortages created by intervention.

Duration: 1 hr30 mins

2.3.7       Practice: Investigate Equilibrium

Investigate the concepts of equilibrium and disequilibrium. Explore the influence of changes in demand or supply(or both)on market equilibrium and examine the results of government intervention in a market.

Duration: 30 mins                 Scoring: 20 points

2.3.8 Practice: Apply Tools of Market Analysis

Bring together concepts about supply, demand, and market equilibrium, and show how they work together.

Duration: 1 hr                         Scoring: 60 points

2.3.9 Quiz: Wrap-Up

Answer questions to assess your understanding of the content.

Duration: 45 mins                 Scoring: 10 points

2.4 Lesson Overview: Wrap-Up

2.4.1 Review: Basic Economic Concepts

Review your studies of production, costs, trade, demand, and supply.

Duration: 2 hrs

2.4.2 Practice: Basic Economic Concepts

Using common economic terms, complete a crossword puzzle.

Duration: 30 mins

2.4.3 Discuss: Cram Session

Discuss economic terms and other areas about which you are unclear.

Duration: 30 mins                 Scoring: 10 points

2.4.4 Test(CST): Basic Economic Concepts

Take a computer-scored test to assess what you have learned in this unit.

Duration: 40 mins                 Scoring: 90 points

2.4.5 Test (TST): Basic Economic Concepts

Take a teacher-scored test to assess what you have learned in this unit.

Duration: 20 mins                 Scoring: 45 points

3        Unit Overview: Macroeconomic Variables

3.1 Lesson Overview:Gross Domestic Product

3.1.1      Study: Circular Flow

Investigate the components of the circular flow model, and see the components put together to make a picture of an economy.

Duration: 1 hr 45 mins

3.1.2       Practice: Investigate Circular Flow

Investigate the circular flow of economic activity for a complex economy and the interrelationships that contribute to circular flow.

Duration: 30 mins                 Scoring: 20 points

3.1.3       Discuss: The Four Economic Sectors

Discuss the four sectors of the economy and how you'd rank them in determining the health of the macroeconomy

Duration: 30 mins                 Scoring: 10 points

3.1.4 Study: National Income

Examine GDP and compare it to some other economic measures.Explore the relationship between  income and expenditures in an economy.

Duration: 1 hr 45 mins

3.1.5 Practice: Investigate National Income

Use your knowledge of GNP,GDP,and other national income accounts to get a clear picture of how  national  income is used in economic analyses and policymaking.

Duration: 30 mins                 Scoring: 20 points

3.1.6 Practice: Apply Concepts of National Income

Apply the terms and concepts of national income to real world situations.

Duration: 1 hr                         Scoring: 60 points

3.1.7 Study: Long-Term Growth

Examine the flaws of using only RGDP to measure growth.Look at the sources of long-term growth and the trade-off between spending today and future growth.

Duration: 1 hr 30 mins

3.1.8       Discuss: Conflict of Short-and Long-Term Growth

Defend your opinion about the benefits of long-term and short-term growth.

Duration: 30 mins                 Scoring: 10 points

3.1.9 Quiz: Wrap-Up

Answer questions to assess your understanding of the content.

Duration: 45 mins Scoring: 10 points

3.2       Lesson Overview: Business Cycles and Unemployment

3.2.1 Study: The Business Cycle

Examine the business cycle and how it's evaluated.

Duration: 1 hr 45 mins

3.2.2       Discuss: Future of the U.S.Economy

Defend your predictions  about  the future of the U.S.economy

Duration: 30 mins                 Scoring: 10 points

3.2.3 Study: Unemployment

Examine the categories of unemployment and the criteria for each: seasonal, frictional, cyclical,and structural unemployment.

Duration: 1 hr 45 mins

3.2.4       Practice: Apply Knowledge of Unemployment

Use economic factors to analyze various unemployment scenarios.

Duration: 1 hr                         Scoring: 60 points

3.2.5 Quiz: Wrap-Up

Answer questions to assess your understanding of the content.

Duration: 45 mins                 Scoring: 15 points

3.3 Lesson Overview: Inflation

3.3.1      Study: CPI

Examine the CPI. See how it's calculated and learn how it's used to measure inflation.

Duration: 1 hr 45 mins

3.3.2 Discuss: List Your Own Market Basket

Describe a typical market basket for a college student.

Duration: 30 mins                 Scoring: 10 points

3.3.3 Practice: Investigate Inflation

Investigate many of the issues involving inflation and the inflation rate. Focus on issues related to the CPI (a price index), market baskets, and calculating the inflation rate.

Duration: 30 mins                 Scoring: 20 points

3.3.4 Study: Interest Rates

Explore interest rates and their effect on investment and the purchases of financial instruments.

Duration: 1 hr 30 mins

3.3.5 Practice: Investigate Interest Rates

Investigate the relationships between interest rates and other economic factors such as inflation and the CPI.

Duration: 30 mins                 Scoring: 20 points

3.3.6       Discuss: Inflation and the Economy

If moderate inflation is good for the economy, discuss whether cost-push or demand-pull inflation is better.

Duration: 30 mins                 Scoring: 10 points

3.3.7 Study: Inflation and Real Variables

Examine the concepts of demand-pull inflation and cost-push  inflation.

Duration: 1 hr 30 mins

3.3.8 Practice: Investigate Real Variables

Practice using nominal variables and real variables in several contexts.

Duration: 30 mins                 Scoring: 20 points

3.3.9       Practice: Apply Knowledge of Inflation

Apply concepts about inflation and interest to real world situations.

Duration: 1 hr                         Scoring: 60 points

3.3.10     Quiz: Wrap-Up

Answer questions to assess your understanding of the content.

Duration: 45 mins                 Scoring: 15 points

3.4 Lesson Overview: Wrap-Up

3.4.1      Review: Macroeconomic Variables

Review your studies of gross domestic product, business cycles and unemployment, inflation, and the GDP.

Duration: 3 hrs

3.4.2      Practice: Macroeconomic Variables

Using common economic terms (referring to macroeconomic variables) complete a crossword puzzle.

Duration: 30 mins

3.4.3       Discuss: Cram Session

Discuss macroeconomic variables and other areas about which you are unclear.

Duration: 30 mins                 Scoring: 10 points

3.4.4 Test(CST): Macroeconomic Variables

Take a computer-scored test to assess what you have learned in this unit.

Duration: 40 mins                 Scoring: 90 points

3.4.5     Test (TST): Macroeconomic Variables

Take a teacher-scored test to assess what you have learned in this unit.

Duration: 20 mins                 Scoring: 45 points