Download Room B210 - Mr. Zittle`s Classroom

ADVANCED PLACEMENT
MACROECONOMICS
Mr. Zittle
Welcome to Advanced Placement Macroeconomics. I hope that you will find this course enjoyable and
challenging. My contact information is below. If you need any help at all, you know how to find me. I am
available before school and after school (except on Wednesdays). Just let me know when you plan to come
in and we will make arrangements.
Room C102
http://mrzittlesclassroom.pbworks.com
http://twitter.com/mrZittle
[email protected]
eriod
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AP Macroeconomics
AP Macroeconomics
Honors Economics
Planning
Planning
Planning
Honors Economics
Course Description
Advanced Placement Macroeconomics is a one-semester course which gives students a thorough
understanding of the principles of economics that apply to an economic system as a whole. The course
places particular emphasis on the study of national income and price determination, and also develops
students’ familiarity with economic performance measures, economic growth, financial sector, stabilization
policies and international economics. Material included on the state mandated End of Course Test (EOCT)
will also be included. This course satisfies the graduation requirement for Economics.
Students and parents must understand that this is a college level class. You have chosen to take this
class, and I expect that you will do your best in the course. We use a college textbook, and cover college
level material at a college level pace. Students are expected to spend more time on this course than they
would in honors, gifted or CP level course. It is extremely important that the student keep up with
readings and assignments on a daily basis, or the student may get behind and become unable to catch up.
Required Materials
 Textbook: Principles of Economics by N. Gregory Mankiw. Copyright 2007. Cost of textbook is
$89.75. This book should be brought to class EVERYDAY. Text web link is
http://mankiw.swlearning.com.
 A notebook with paper. Loose leaf or with pockets will be helpful to hold handouts.
 Writing utensils that include a #2 pencil.
 Two pens – one black/one blue
 Dry-erase marker
 You will be advised ahead of time if you need any additional materials.
Attendance
You are responsible for all material presented in class. Tests, quizzes and homework often include
questions on material that has ONLY been presented in class. Your performance on these assignments
indirectly reflects your attendance. Arrangements for making up assignment MUST be made within 2 days
upon returning to school unless other arrangements are made. Work not made up within this time results in
zeroes. It is YOUR responsibility to make up missed work.
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ADVANCED PLACEMENT
MACROECONOMICS
Class Rules
1. I do not tolerate academic dishonesty! No one should receive credit for work that they did not do.
2. Bring materials to class each day. This includes your textbook.
3. Make up work missed whenever absent. This class moves very quickly, and time is very
important. Work should be made up within 2 days of returning to school.
4. Take notes during class. This is a college level course and note taking is important.
5. When reading homework assignments are given, I expect you to take notes as you read. This is
rewarded with open note quizzes (sometimes).
6. Turn off all cell phones. No texting allowed during class.
7. Do not consume food or drinks in the classroom. The only exception is water with a secure top.
Grading
High School students tend to study independently, while college students tend to study in groups. This is a
college level course, I suggest that you form study groups!! Keep in mind that copying another person’s
work and claiming it as your own is cheating, and in total violation of the #1 class rule. Zeroes will be
given for such work.
35%
etc.)
Classroom Assessments (may include but not limited to: quizzes, daily work, homework, labs,
45%
Summative Assessments (may include but not limited to: Performance Finals, teacher generated
unit tests, major assignments, research papers, interim assessment, interim assessment, etc.)
20%
Comprehensive Final Exam – Required End of Course Test
** Ten points will be deducted per day for late work. Work turned in during the same assigned grading
period will be awarded a grade of 50 if complete and correct.
NOTE: At the end of the semester, students will receive ten points added to their final average. These
10 points WILL NOT be included on progress reports.
College Board AP Test Outline
I. Basic Economic Concepts
A. Scarcity, choice and opportunity cost
B. Production possibilities curve
C. Comparative advantage, specialization, and trade
D. Demand, supply and market equilibrium
E. Macroeconomic issues: business cycle, unemployment,
Inflation, growth
AP Test
8-12%
II. Measurement of Economic Performance
A. National income accounts
1. Circular flow
2. Gross domestic product
3. Components of gross domestic product
4. Real versus nominal gross domestic product
B. Inflation measurement and adjustment
1. Price indices
2. Nominal and real values
3. Costs of inflation
C. Unemployment
1. Definition and measurement
2. Types of unemployment
3. Natural rate of unemployment
12-16%
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ADVANCED PLACEMENT
MACROECONOMICS
III. National Income and Price Determination
A. Aggregate demand
1. Determinates of aggregate demand
2. Multiplier and crowding-out effects
B. Aggregate supply
1. Short-run and long-run analyses
2. Sticky versus flexible wages and prices
3. Determinants of aggregate supply
C. Macroeconomic equilibrium
1. Real output and price level
2. Short and long run
3. Actual versus full-employment output
4. Economic fluctuations
IV. Financial Sector
A. Money, banking, and financial markets
1. Definition of financial assets: money, stocks, bonds
2. Time value of money
3. Measures of money supply
4. Banks and creation of money
5. Money demand
6. Money market
7. Loanable funds market
B. Central bank and control of the money supply
1. Tools of central bank policy
2. Quantity theory of money
3. Real versus nominal interest rates
V. Inflation, Unemployment, and Stabilization Policies
A. Fiscal and monetary policies
1. Demand-side effects
2. Supply-side effects
3. Policy mix
4. Government deficits and debt
B. Inflation and unemployment
1. Types of inflation
a. Demand-pull inflation
b. Cost-push inflation
2. The Phillips Curve: short-run versus long-run
3. Role of Expectations
VI. Economic Growth and Productivity
A. Investment in human capital
B. Investment in physical capital
C. Research and development, and technological progress
VII. Open Economy: International Trade and Finance
A. Balance of payments accounts
1. Balance of trade
2. Current account
3. Capital account
B. Foreign exchange market
1. Demand for and supply of foreign exchange
2. Exchange rate determination
3. Currency appreciation and depreciation
C. Net exports and capital flows
D. Links to financial and goods markets
10-15%
15-20%
20-30%
5-10%
10-15%
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ADVANCED PLACEMENT
MACROECONOMICS
College Board Advanced Placement Macroeconomics test date
and location is yet to be announced.
Our Course Content Sequence
UNIT ONE
Week 1 – Week 3
Chapters 1, 2, 3, 26 & 27
UNIT ONE TEST – Multiple Choice and Free Response
UNIT TWO
Week 4 – Week 6
Chapters 4, 5, 6 & 13
UNIT TWO TEST – Multiple Choice and Free Response
UNIT THREE
Week 7 – Week 9
Chapters 23, 28, 24, pgs. 740-742 of chapter 33
UNIT THREE TEST – Multiple Choice and Free Response
UNIT FOUR
Week 10 – 12
Chapters 33, 12, pgs. 787-797 of chapter 34
UNIT FOUR TEST – Multiple Choice and Free Response
UNIT FIVE
Week 13 – 15
Chapters 29, 34
UNIT FIVE TEST – Multiple Choice and Free Response
UNIT SIX
Week 16 – Week 18
Performance Final Exam
Chapters 35, 31 & 32
Week 18 – review released AP tests, preparation for EOCT
End of Course Test (EOCT)
A. Fundamental Economic Concepts – scarcity, opportunity cost, supply and demand,
factors of production, capitalism, circular flow of income
B. Microeconomics: Elements in the Marketplace – equilibrium, types of businesses,
externalities, market structures, organized labor, regulatory agencies
C. Macroeconomics: The National Economy – banking functions, economic indicators,
aggregate supply and demand, types of unemployment, business cycle, FED, monetary
and fiscal policy
D. The International Economy – types of economic systems, international trade, absolute
and comparative advantage, exchange rate, trade issues
E. Personal Finance – financial institutions, credit, savings, loans, simple and compound
interest, stocks, bonds, mutual funds, IRA, progressive tax, regressive tax,
proportional tax, sales tax, insurance, human capital.
The Georgia Department of Education has a web site that provides study guides and a practice test for the
Economics End of Course test.
www.gadoe,org/ci_testing.aspx?PageReq=CI_TESTING_EOCT Check it out!
NOTE: The teacher reserves the right to alter the course sequence depending on student abilities and
interests, as well as topical worldly events
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ADVANCED PLACEMENT
MACROECONOMICS
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