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AP Economics
Mr. J. Lekakis
Course Syllabus
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This course consists of two parts: Microeconomics and Macroeconomics.
As this is an Advanced Placement course, students enrolled in this course are
expected to maintain the work load of a first-year university student.
Furthermore, students registered in this course are required to write two AP exams
in mid-May.
Text: Economics, 18th Ed. (McConnell & Brue)
Part 1: Introduction to Economics and the Economy
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Chapter 1: Limits, Alternatives, and Choices
Chapter 2: The Market System and the Circular Flow
Chapter 3: Demand, Supply and Market Equilibrium (+ Appendix)
Chapter 4: The U.S. Economy: Private and Public Sectors
Chapter 5: The United States in the Global Economy
Part 2: Microeconomics of Product Markets
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Chapter 6: Elasticity, Consumer Surplus, and Producer Surplus
Chapter 7: Consumer Behavior (+ Appendix)
Chapter 8: The Costs of Production
Chapter 9: Pure Competition
Chapter 10: Pure Monopoly
Chapter 11: Monopolistic Competition and Oligopoly (+ Appendix)
Chapter 11W: Technology, R&D, and Efficiency
Part 3: Microeconomics of Resource Markets
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Chapter 12: The Demand for Resources
Chapter 13: Wage Determination (+ Appendix)
Chapter 14: Rent, Interest, and Profit
Chapter 15: Natural Resource and Energy Economics
Part 4: Microeconomics of Government
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Chapter 16: Public Goods, Externalities, and Information Asymmetries
Chapter 17: Public Choice Theory and the Economics of Taxation
Part 5: Microeconomic Issues and Policies
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Chapter 18: Antitrust Policy and Regulation
Chapter 19: Agriculture: Economics and Policy
Chapter 20: Income Inequality, Poverty, and Discrimination
Chapter 21: Health Care
Chapter 22: Immigration
Part 6: GDP, Growth, and Instability
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Chapter 23: An Introduction to Macroeconomics
Chapter 24: Measuring Domestic Output and National Income
Chapter 25: Economic Growth
Chapter 26: Business Cycles, Unemployment, and Inflation
Part 7: Macroeconomic Models and Fiscal Policy
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Chapter 27: Basic Macroeconomic Relationships
Chapter 28: The Aggregate Expenditures Model
Chapter 29: Aggregate Demand and Aggregate Supply (+ Appendix)
Chapter 30: Fiscal Policy, Deficits, and Debt
Part 8: Money, Banking, and Monetary Policy
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Chapter 31: Money and Banking
Chapter 32: Money Creation
Chapter 33: Interest Rates and Monetary Policy
Chapter 34: Financial Economics
Part 9: Extensions and Issues
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Chapter 35: Extending the Analysis of Aggregate Supply
Chapter 36: Current Issues in Macro Theory and Policy
Part 10: International Economics
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Chapter 37: International Trade
Chapter 38: The Balance of Payments, Exchange Rates, and Trade Deficits
Chapter 38 Web Supplement: Previous International Exchange-Rate Systems