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Download AP Economics Semester 1: Microeconomics Homework Check: 150
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AP Economics Semester 1: Microeconomics Homework Check: 150 Total Points (30 pts per unit) (9%) Unit Assessment: 250 Total Points (50 pts per unit) (14%) Quizzes: 10 (20 pts each) = 200 Total Points (11%) Tests: 7 (100 pts each) = 700 Total Points (40%) Firm Market Structure Analysis Paper: 50 Total Points (3%) Christmas Break Reading Project: 100 Total Points (6%) Final Exam: 300 Points (17%) Dress for Success EC Points: (16) Total: 1750 Total Points Unit 1: Introduction to Economics (2 weeks) Mankiw 6th Ed.: Chapters 1, 2, and 3 Terms: Scarcity, Economics, Efficiency, Equality, Opportunity Cost, Rational People, Marginal, Incentive, Market Economy, Command Economy, Property Rights, Circular Flow Diagram, Land, Labor, Capital, Entrepreneurship, Productions Possibility Curve(Frontier), Microeconomics, Macroeconomics, Positive, Normative, Economic Model, Ceteris Paribus, Absolute Advantage, Comparative Advantage, Specialization, Imports, Exports Graphs to Know: Circular Flow, PPC Assessments: - 1 Quiz (9/5/14) - Unit 1 Packet (9/9/14) - Unit 1 Test (9/10/14, 9/11/14) Unit 2: Supply/Demand, Elasticity (4 weeks) Mankiw 6th Ed.: Chapters 4, 21(p.439-453), 6(p.111-125), 5, 6(125-128), and 8 Terms: Market, Competitive Market, Demand Schedule, Quantity Demanded, Law of Demand, Demand Schedule, Demand Curve, Substitution Effect, Income Effect, Shift in Demand, Substitutes, Complements, Normal goods, Inferior goods, Supply Schedule, Quantity Supplied, Law of Supply, Supply Schedule, Supply Curve, Shift in Supply, Inputs, Equilibrium, Market Clearing Price(equilibrium price),Equilibrium Quantity, Surplus, Shortage, Budget Constraint, Indifference Curve, Perfect Substitutes, Perfect Compliments, Price Ceiling, Price Floor, Utility, Elasticity, Price Elasticity of Demand, Total Revenue, Perfectly Elastic, Perfectly Inelastic, Unit Elastic, Income Elasticity of Demand, Cross Price Elasticity of Demand, Price Elasticity of Supply, Tax Incidence, Lump Sum Tax, Excise Tax, Consumer Surplus, Producer Surplus, Deadweight Loss, Black Market Graphs to Know: Supply and Demand Assessments: - Quiz (9/19/14, 10/3/14) - Unit 2 Packet (10/14/14) - Unit 2 Halfway Test (10/1/14 – 10/2/14) - Unit 2 Test (10/16/14-10/17/14) Unit 3: Theory of the Firm (6 Weeks) Mankiw 6th Ed: Chapters 13, 14, 15, 16, and 17 Terms: Total Revenue, Total Cost, Profit, Explicit Costs, Implicit Costs, Economic Profit, Accounting Profit, Production Function, Marginal Product, Diminishing Marginal Product, Fixed Costs, Variable Cost, Average Total Cost, Average Fixed Cost, Average Variable Cost, Marginal Cost, Economies of Scale, Diseconomies of Scale, Constant Returns to Scale, Market Structure, Perfect Competition, Monopolistic Competition, Oligopoly, Monopoly, Perfectly Competitive Market, Average Revenue, Marginal Revenue, Profit Maximization, Shut Down Point, Sunk Costs, Short Run, Long Run, MR. DARP , Natural Monopoly, Price Discrimination, Anti-Trust Regulation, Patent, Copyright, Advertising, Collusion, Cartel, Nash Equilibrium, Prisoners’ Dilemma, Dominant Strategy Graphs to Know: Production Function, Cost Curves, Perfect Competition vs. Market, Monopoly, Monopolistic Competition, Payoff Matrix Assessments: - Quizzes (10/17/14, 10/24/14, 10/31/14, 11/4/14) - Firm Market Structure Paper (11/7/14) - Unit 3 Packet (11/11/14) - Unit 3 Test (11/12/14-11/13/14) Unit 4: Factor Markets (2 weeks) Mankiw 6th Ed: Chapters 18, 19 Terms: Factors of Production, Production Function, Marginal Product of Labor, Diminishing Marginal Product, Value of the Marginal Product, Monopsony, Capital, Human Capital, Union, Strike, Discrimination Graphs to Know: Labor Market, Land Market Assessments: - Quiz (11/21/14) - Unit 4 Packet (12/2/14) - Unit 4 Test (12/3/14-12/4/14) Unit 5: The Role of Government (2 weeks) Mankiw 6th Ed.: Chapters 10, 11, and 20 Terms: Externality, Negative Externalities, Positive Externalities, Marginal Social Costs, Marginal Social Benefits, Corrective Tax, Tradable Permits, Coarse Theorem, Transaction Costs, Excludability, Rivalry in Consumption, Private Goods, Public Goods, Common Resources, Club Goods, Free Rider, Tragedy of the Commons, Poverty Rate, Poverty Line, Welfare, Lorenz Curve Graphs to Know: Private/Social Costs vs. Private Social Benefits Market, Lorenz Curve Assessments: - Quizzes (12/12/14, 12/18/14) - Christmas Break Reading Project (Freakonomics) (1/5/14) - Unit 5 Packet (1/6/14) - Unit 5 Test (1/7/14-1/8/14)
