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AP Economics Mr. J. Lekakis Course Syllabus 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 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 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 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 Chapter 16: Public Goods, Externalities, and Information Asymmetries Chapter 17: Public Choice Theory and the Economics of Taxation Part 5: Microeconomic Issues and Policies 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 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 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 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 Chapter 35: Extending the Analysis of Aggregate Supply Chapter 36: Current Issues in Macro Theory and Policy Part 10: International Economics Chapter 37: International Trade Chapter 38: The Balance of Payments, Exchange Rates, and Trade Deficits Chapter 38 Web Supplement: Previous International Exchange-Rate Systems