Download AP Economics Course Syllabus 2016-17

Advanced Placement Economics
Macroeconomics
Course Syllabus 2016-17
Instructor: F. Pye
Email: [email protected]
Conference: 5th period Room: #507
Primary Textbook: Principles of Economics, Mateer, D. and Coppock, L.
W W Norton & Company, 2014. New York
Additional Reader: New Ideas from Dead Economists, Bucholz.
Welcome to AP Economics. The purpose of this course in Macroeconomics is to give the
student a thorough understanding of the principles of economics as they apply to society
as a whole. Beyond the study of basic principles such as pricing, supply, demand, and
elasticity; this course places a major emphasis on the study of national income
accounting, fiscal and monetary policy, economic growth and international trade.
Course Outline
This course will follow the list of topics recommended by the AP College Board. One of
the main goals of this course is to fully prepare students to do well on the AP Economics
exam offered in May. This course has been set up as the equivalent of an entry level
college course in Economics. The text we will use is written on the college level. The
following is a general outline of the broad topics that will be covered this semester.
Unit I (4 weeks) Basic Economic Concepts (Chapters 1-3)
a. Scarcity, Definition of Economics
b. Gains from Trade
c. Opportunity Cost, Production Possibilities Curve, Circular Flow
i. Chapter 1-2 Test,
ii. Readings from New Ideas (Adam Smith;
Thomas Malthus, David Ricardo)
d. Supply, Demand, Price Determinants
i. Chapter 3 Test
ii. Practice Free Response
Unit II (3 weeks) Measurement of Economic Performance (Chapters 19-21
a.
b.
c.
d.
GDP, GNP, National Income Accounting
Inflation, Price Indices
Unemployment
The Business Cycle
i. Chapter 19-21 Test
Unit III (4 weeks) Fiscal Policy (Chapters 26-29)
a. Aggregate Demand/Aggregate Supply
i. Practice Free Response
ii. Chapter 26-27 Test
b. Fiscal Policy
i. Chapter 28-29 Test
ii. New Ideas Reading (Keynes)
Unit IV (4 weeks) Money, Financial Sectors, and Monetary Policy (Chapters 30-31)
a. Definition/Functions of Money (M1, M2, M3)
b. Supply and Demand of Money
c. The Banking System
d. The Financial Sectors (Stocks vs. Bonds)
e. Controlling Money Supply through Banks
f. The Federal Reserve
g. The Tools of Monetary Policy
i. Practice Free Response
ii. Chapter 30-31 Test
iii. New Ideas Readings (Monetarists and Friedman)
Unit V (2 weeks) International Trade and Finance (Chapters 32-33)
a. Comparative Advantage/Specialization
b. Foreign Currency Markets
c. Chapter 32-33 Test
Unit VI (1 week) Final Review and AP Preparation
Projects
There will be two projects that will be ongoing throughout the semester.
A. Stock Market Game –www.vse.marketwatch.com - an internet based stock
market simulation. Investment teams will be selected and will then go through the
steps of actual buying and selling of stocks. This is a group activity, with teams
consisting of two students each competing against the rest of the class.
B. Economics Blog Responses – www.pyeecon.blogspot.com – I will post
prompts throughout the semester, and students will be expected to post responses
on a regular basis. This will be an individual project.
Grading
We will use the Elkins Approved model for grades. There will be a minimum of three
major grades and eleven daily grades per nine weeks. We will also follow the Elkins
policy on late grades for AP courses. Twenty-five points will be deducted from an
assignment on the first day it is late and it will not be accepted if more than one day late.
No late grades will be given on major assignments.
Tutorials
Most students find themselves in need of some extra tutoring at one time or another in
this course. I am available after school or before school at 7 a.m. on most days. There
will be organized review sessions in preparation for the AP Exam beginning in early
April.
“It is thrifty today to prepare for the wants of tomorrow.” Aesop