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AP Macroeconomics Final Project Fill in the blank of the following sentence: The Economics of _________________________ Relate your topic to the use of 7 or more economic principles or concepts we have studied during the semester and use 3 models to show how your topic fits into the macroeconomic system. EXAMPLES… 1. The economics of living in a small, or in a large family, 2. The economics of eating 10 soft tacos, 3. The economics of working part time, 4. The economics of attending prom, 5. The economics of driving ________ car, 6. The economics of taking AP or IB exams 7. The economics of playing soccer Choose a topic related to your life, that you know a lot about. Topics are to be non-typical economic issues, but the principles used must be economic. That is, you cannot choose to do the economics of interest rates or the economics of inflation. YOUR TASK… 1. Choose your topic and get teacher approval. Decide how you want to present your topic. You may use a poster, powerpoint, flip chart, traditional report or any other medium as part of your presentation. In your project, give a one paragraph (min. 7 sentences) description of your topic. Describe actions or things that are part of your topic 2. Choose and include 7 concepts and principles that apply to your topic. (a) define/describe each concept (min. 4 sentences) EXAMPLES… opportunity cost, scarcity, supply/demand (counts as one concept!), resource cost, unanticipated inflation, interest, disposable income, investment, taxes… 3. For each of the 7 concepts, explain how and/or why the concepts and principles apply to your topic. Minimum 4 sentences for each concept/principle. Making linkages between concepts or principles is a plus. How do several concepts work together or counter each other? 4. Choose three graphs/models that help to illustrate how your topic fits into the macroeconomic picture. ALL 3 graphs should be correctly drawn and labeled. EXAMPLES… circular flow model, production possibilities curve, supply/demand, aggregate supply/aggregate demand, business cycle, foreign exchange, loanable funds, money market, Philips Curve. 5. You turn in your project on Monday May 23rd, 2016 Grading Rubric The Economics of Name: Novice Competent Expert The topic is an economics principle studied in class or presentation is basic with minimum information <7 points The topic meets requirements; presentation has interest and some creative features 7-8 points There are less than 7 principles and/or the principles do not relate to the topic chosen; few are described or defined <22 points There are 7 principles but a couple of principles do not relate to the topic chosen; one or two are missing content knowledge, demand/supply treated as two, instead of one concept 22-25 points A majority of the principles are correctly applied to the topic; there is some attempt at making linkages among concepts 22-25 points The three graphs each illustrate a different aspect of the topic. A least one graph is missing explanations or analysis 22-25 points The topic has high interest & is described; presentation is well planned with many interesting features 8.5-10 points There are 7 separate, principles, all of them directly relate to the topic chosen; description shows understanding of all the principles 26-30 points ________________________ Creativity & Description of the chosen topic 10 points Seven economic principles and knowledge of the principles 30 points Application of the principles 30 points Graphing models and analysis 30 points Class presentation (bonus points) 10 points Few of the principles are applied correctly to the topic <22 points There are fewer than three graphs or none of the graphs have analysis or the analysis is basic without explanation <22 points Too little information is presented; it appears the student has little knowledge and understanding of the topic <7 points A general idea is given of the topic and some explanation and understanding is evident 7-8 points All of the principles are correctly applied to the topic; there is linkage among concepts 26-30 points The three graphs each illustrate a different aspect of the topic. Economic analysis is correct and include explanations (how & why) 26-30 points Information presented shows detailed knowledge of the topic and economic principles 8.5-10 points