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Advanced Placement Economics
Course Outline
Text: Economics, McConnell and Brue
Numerous supplementary resources and materials
Unit I:
Introduction to Economics and the Economy
Unit II:
The nature and method of economics
The economizing problem
Understanding individual markets
Pure capitalism and the market system
The mixed economy
The United State and the global economy
1. National income, employment and fiscal policy
A. Measuring national statistics
B. Unemployment and inflation
C. Aggregate expenditures model
D. Aggregate expenditures
E. Aggregate supply and demand
F. Fiscal policy
2. Money banking and monetary policy
A. Money and banking
B. How banks create money
C. Monetary policy
3. Problems and controversies in macroeconomics
A. Extending aggregate supply
B. Disputes in macro theory and policy
C. Economic growth
D. Budget deficits and public debt
Unit III:
1. Microeconomics of product markets
A. Supply and demand
B. Consumer behavior
C. Costs of production
D. Pure competition
E. Pure monopoly
F. Monopolistic competition and Oligopoly
G. Technology
Unit III:
Microeconomics (cont.)
2. Microeconomics of resource markets
A. The demand for resources
B. Wage Determination
C. Rent, interest and profit
3. Microeconomics of government
A. Government and market failure
B. Public choice theory and taxation
4. Microeconomic issues and policies
A. Antitrust policy and regulation
B. Agriculture
C. Income inequality and poverty
D. The economics of health care
E. Labor market issues
Unit IV:
International Economics and the World Economy
1. International Trade
2. Exchange rates and trade deficits
3. The economics of developing countries
Post AP :
Personal Finance
Stock Market
Credit Markets
a. Credit Cards
b. Home Loans
c. Car Loans
d. Student Loans
a. Savings Options
b. Social Security & Retirement
CREDIT INFO: This course provides one of the credits required for a Standard or
Advanced Studies Diploma. Students will take the College Board Advanced Placement
exam at the end of this course.
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