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FALLBROOK UNION HIGH SCHOOL DISTRICT
DATE:
August 10, 2015
TOPIC:
New Course: AP Macroeconomics
ACTION ___________ CONSENT _____X_______ INFORMATION __________
BACKGROUND INFORMATION:
Goal 2 of our Local Accountability Plan (LCAP) speaks to improving college and career
readiness. As part of this goal, Fallbrook High School will increase the number of
Advanced Placement (AP) courses.
CURRENT CONSIDERATIONS:
During the 2015-2016 school year, Fallbrook Union High School District will offer a new
course called AP Economics.
FINANCIAL IMPLICATIONS:
N/A
ALIGNMENT WITH LOCAL CONTROL ACCOUNTABILITY PLAN (LCAP):
Goal 2 of our Local Accountability Plan speaks to improving college and career readiness
RECOMMENDATION:
The Superintendent recommends that the Board of Trustees approves the new AP
Economics course.
Jose F. Iniguez, Ed.D.
Assistant Superintendent
Hugo A. Pedroza, Ph.D.
Superintendent
Exhibit D12
AP Macroeconomics Class Syllabus
Required Text: Krugan’s Economics for AP, by Margaret Ray, David Anderson, Ann
Heath, 2nd edition 2015
Recommended:
Text: Principles of Economics, 7th edition by N. Gregory Mankiw, Holt McDougal, 2014
5 Steps to a 5 AP Macroeconomics, 2014-2015 Edition by Eric Dodge
COURSE DESCRIPTION and GOALS: The course covers seven basic topics – Basic
Economic Concepts, Measurement of Economic Performance, National Income and Price
Determination, Financial Sector, Inflation, Unemployment and Stabilization Policies, Economic
Growth and Productivity, International Trade and Finance. These topics are included in the
chapters 23-36 of the text. Besides the lectures, we will be performing many student activities
in class from Advanced Placement Economics, Student Activities, 3rd edition by Morton and
Goodman, New York: National Council on Economic Education, 2003. We will also be
following the current topics on economics via the Wall Street Journal and New York Times. It
is expected that students will learn much of the course via their own study of the textbook.
There will be numerous quizzes and tests as well as a comprehensive exam at the end of each of
the two quarters. The semester exam will include questions from a released AP Exam. The
prerequisite for this course is Algebra II.
GOALS: Understand basic economic concepts and display analytical skills to answer economic questions

Understand measurements of economic performance including GDP (gross domestic product),
inflation, and unemployment.
 Understand the effects of aggregate demand and aggregate supply on macroeconomic
equilibrium
 Understand effect of time value of money, money supply, interest rates and the role of the central
bank (Federal Reserve)
 Understand trade-offs between inflation and unemployment policy.
 Understand effect of investment in both human capital and physical capital on economy
 Understand effect of international trade, trade deficits, foreign exchange rates have on economy
 Interpret and analyze economic graphs including aggregate supply and demand curves,
production possibilities frontiers, and economy’s consumption function.
 Demonstrate knowledge by obtaining a 4 or 5 on the AP Macroeconomics exam in early May.
GRADES: Grades will be calculated as follows:
Tests
50%
Quizzes
20%
Semester Exam
15%
Homework/Participation
15%
There will be a test for each of the seven units. The tests will be announced in advance. Near the end of
the quarter, a comprehensive exam will be given covering all of the units in that quarter. The tests and the
exams will have the same format as the AP exam with Multiple Choice and Free Response questions. Several
quizzes will be given in each unit prior to each test so an assessment can be made of how the class is absorbing
the material. Expect an average of at least 1 quiz or test each week.
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Homework will be assigned almost every day. This will include reading the text and problem solving exercises
via the aplia website which corresponds to our textbook. Homework problems will have a posted due date and
time. There will also be about 3 longer homework assignments each quarter (about 1 each unit) over past AP
Free Response problems.
Current Events: Students will be responsible for analyzing and presenting economically based articles
throughout the course. The articles must be found online, and I will provide a format sheet for this assignment
detailing the analysis requirements.
Group Presentations: Students will be responsible for digital presentations of topics as assigned for particular
units of the course. I will provide a format and rubric for presentation options.
__________________________________________________________________
Required Text: Krugan’s Economics for AP, by Margaret Ray, David Anderson, Ann
Heath, 2nd edition 2015
Recommended:
Text: Principles of Economics, 7th edition by N. Gregory Mankiw, Holt McDougal, 2014
AP Review Book: 5 Steps to a 5 AP Macroeconomics, 2014-2015 Edition by Eric Dodge,
McGraw-Hill.
Student Activities – Advanced Placement Economics, Student Activities, 3rd edition by Morton and Goodman,
New York: National Council on Economic Education, 2003
Homework: www.aplia.com website that applies to the text
Class Notebook – One (1) 2” 3 Ring Binder with pockets and loose leaf paper.
Other Resources – We will be utilizing various activities from the Virtual Economics CD-ROM, V.3, National
Council for Economics. Besides the recommended AP Statistics Exam review books, there will be some other
AP review books available for loan as well as other textbooks. In addition, the course website will list some
other potentially useful websites including the text website and the AP Exam website. We will also be referring
to the Wall Street Journal and New York Times for economic topics in current events.
HOMEWORK
1. Reading Assignments
All students will be expected to keep up with their reading and to demonstrate their preparedness by active
involvement in class activities. To be adequately prepared for class, you must
Read the assigned pages carefully;
a. Take notes on the assigned reading;
b. Get familiar with all the terms listed at the end of the chapter; and
c. Refer to the Summary section of each chapter to pinpoint areas of non-comprehension.
2. Problem-Solving Assignments
Every student must finish all assigned Problem-Solving assignments in a timely fashion with quality. ProblemSolving assignments include:
a. Key Questions and Graphs in each chapter learned;
b. Worksheets selected from the Morton list
c. Modeling, Graphing, and Analysis of Tabular Data
In any economics course, modeling, graphing, manipulation and analysis of tabular data, linkages or cause and
effect relationships, and some formula substitution play a key role. The major units—Aggregate Supply and
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Aggregate Demand, Money and Banking, and Monetary and Fiscal Policies –require extensive use of these
tools. If you want to understand the material really well, you must spend time with these demonstrations.
3. In-Class Activities
We will perform many graphing practices on whiteboard. You will be responsible for your own dry erase
markers. I would recommend to bring a pair of socks for eraser use. Every student is required to either
work independently or work with his/her partner on these assignments. Active participation and contribution to
this kind of work are strongly anticipated.
4. Notes on Class Instructions
Class instructions are crucial to the mastery of this course because they address the most important and/or
most difficult topics. Therefore taking notes is required. I personally believe the notes will be extremely
beneficial for your tests and homework. When the tests are given, both textbook contents and notes could
be used.
EVALUATION: CHAPTER TESTS, UNIT TESTS, AND EXAM
1. There will be a SUMMATIVE UNIT ASSESSMENT upon finishing each Unit. This test will include
three types of questions:
a.
Multiple-choice questions
b. Free-Response Questions
i. Short
ii. Long
2. There will be a series of formative assessments given as well. You should be fully capable and prepared
for these assessments before they are given. Examples include: daily in-class work, homework, quizzes,
reading interpretation.
3. The FINAL EXAM will be a mock AP Macroeconomics Exam. Everyone will take the final exam.
The goal of the tests, unit tests, and mock exam is to prepare students for the AP Exam in May. Objective
questions will require application and/or synthesis of material presented. Free-Response questions will involve
clear explanations of policy alternatives in Macroeconomics terms.
AP Student Expectations
Develop study skills of text and supplemental materials to enhance activities and gain a thorough
understanding of the course work. AP Economics is a course that builds upon previous lessons. Participate in
class and help fellow students in activities. Participate in voluntary AP review sessions at the end of the year to
maximize grade on exam. Meet goals of this course – 1) Appreciate value of economics; 2) Excel on the AP
exam; 3) Have fun
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Units of Study
Unit 1: Basic Economic Concepts – (Only required for students who did not take AP Microeconomics)
Scarcity, opportunity costs, circular flow, production possibility frontiers, comparative advantage, absolute
advantage, benefits of trade, supply and demand, market equilibrium, unemployment, inflation, economic
growth.
1) Chapters 1 – 4, 25 from the text; Homework Chap 1 – 4, 25 via www.aplia.com
2) Student Activities (1 per class); 2 quizzes plus 1 test
Unit 2: Measurement of Economic Performance – Gross domestic product, real versus nominal growth, price
indices, inflation costs, unemployment measurements and types,
1) Chapters 23, 24, 28 from the text; Homework Chap 23, 24, 28 via www.aplia.com
2) Student Activities (1 per class); 2 quizzes plus 1 test
Unit 3: National Income and Price Determination – Aggregate supply and demand, multiplier and crowding
out effects, short run versus long run, sticky versus flexible wages and prices, actual versus full employment.
1) Chapters 33 - 34 from the text; Homework Chap 33 - 34 via www.aplia.com
2) Student Activities (1 per class); 2 quizzes plus 1 test
Unit 4: Financial Sector – Definition of financial assets, time value of money, measures of money supply,
creation of money, money demand and market, loanable funds, Federal Reserve and control of the money
supply, tools of the Fed,.
1) Chapters 26, 27, 29 from the text; Homework Chap 26, 27, 29 via www.aplia.com
2) Student Activities (1 per class); 2 quizzes plus 1 test
Unit 5: Inflation, Unemployment, and Stabilization Policies – Money growth and inflation, real versus
nominal interest rates Fiscal and monetary policies, demand side versus supply side effects, policy mix,
government deficits and debt, types of inflation (demand pull versus cost push), Phillips curve, short versus
long run
1) Chapters 30, 34, 35 from the text; Homework Chap 30, 34, 35 via www.aplia.com
2) Student Activities (1 per class); 3 quizzes plus 1 test
Unit 6: Economic Growth and Productivity – Investment in human capital and physical capital, research and
development, growth policy
1) Chapter 25 from the text; Homework Chap 25 via www.aplia.com
2) Student Activities (1 per class); 1 quiz plus 1 test
Unit 7: Open Economy: International Trade and Finance – Balance of trade, current and capital accounts,
foreign exchange rates, currency appreciation and depreciation, net exports and capital flows, links to financial
and goods markets
1) Chapters 31, 32 from the text; Homework Chap 31, 32 via www.aplia.com
2) Student Activities (1 per class); 2 quizzes plus 1 test
Course Schedule: A detailed list of assignments will be posted weekly on the website. Note Tests, major
exams, and major projects are in bold.
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Week
#
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
May
Topics
Basic Economic Concepts
Supply/Demand
Growth
Review Unit 1
Circular Flow, GDP
Components of GDP
CPI, Real versus Nominal
Unemployment
Review Unit 2
Economic Fluctuations
Determinant of Aggregate Demand
Aggregate Demand/ Supply
Review Unit 3
Financial Institutions, Savings, Investment,
Market for loanable funds
Time value of money, Risk
Meaning of Money, Federal Reserve, Money
Supply and Multiplier
Review Unit 4
st
Review for 1 Quarter Exam
1st Quarter Exam (Units 1-4)
Money Growth and Inflation
Fiscal Policy Influences on Aggregate Demand
Using Policy to Stabilize Economy
Inflation and Unemployment, Phillips Curve
Role of Expectations, Cost of Reducing
Inflation
Review Unit 5
Economic Growth and Productivity
Economic Growth and Public Policy
Review Unit 6
International Trade – Flow of Goods
Real and Nominal Exchange Rates
Supply and Demand for Loanable Funds for
Foreign Exchange
Equilibrium in Open Economy
How Policies Affect an Open Economy
Review Unit 7
Review for Quarter Exam
2nd Quarter Exam (Practice Exam)
Fall Semester Exam
Review Sessions in Spring
Text
Sections
Chap 1-3
Chap 4
Chap 25
Chap 23
Chap 23
Chap 24
Chap 28
Chap 21
Chap 33
Chap 33/34
Chap 33
Quiz/Test
Chap 1-4
Chap 25
Unit 1
Chap 23
Chap 24
Chap 28
Unit 2
Projects
Comparative Advantage
Activity
Shifts in Supply/Demand
Circular Flow Activity
GDP Activity
Price Index Activity
Unemployment Activity
AP Problems #1
Chap 33
Chap33/34
Aggregate Demand/Supply
Chap 26
Chap 27
Unit 3
AP Problems #2
Chap 29
Chap26,27
Chap 29
Unit 4
Qtr Exam
Money Activity
AP Problems #3
Chap 30
Inflation Activity
Chap 34
Chap 34
Chap 35
Fiscal Policy Activity
Crowding Out Effect
Phillips Curve Activity
Chap 30
Chap 34
Chap 35
Chap 25
Chap 25
Chap 31
Chap 31
Chap 32
Chap 32
Chap 32
AP Problems #4
Chap 35
Unit 5
Economic Growth Activity
Chap 25
Unit 6
International Trade Activity
AP Problems #5
Chap 31
Chap 32
Unit 7
AP Problems #6
Qtr Exam
Semester
Exam
AP EXAM
5