AP Macroeconomics Syllabus Introduction: Economics presents new learning with a specific set of terms and concepts to be addressed. Developing an economic way of thinking is vital to understanding Economics coursework. This course will give you a thorough understanding at the principles of macroeconomics, taking a look at the big picture of the economy. The focus will be economic measurement tools, aggregate production and income, the use of fiscal and monetary policy, economic growth and international trade. The AP Economics Course Description states: AP Macroeconomics is an introductory college-level course that focuses on the principles that apply to an economic system as a whole. The course places particular emphasis on the study of national income and price-level determination; it also develops students familiarity with economic performance measures, the financial sector, stabilization policies, economic growth, and international economics. Students learn to use graphs, charts, and data to analyze, describe, and explain economic concepts. The AP Macroeconomics course provides students with a thorough understanding of the principles of economics and how economists use those principles to examine aggregate economic behavior. Students learn how the measures of economic performance, such as gross domestic product (GDP), inflation, and unemployment are constructed and how to apply them to evaluate the macroeconomic conditions of an economy. The course recognizes the global nature of economics and provides ample opportunities to examine the impact of international trade and finance on national economies. Various economic schools of thought are introduced as students consider solutions to economic problems. Resources: Text: Margaret Ray and David Anderson. Krugman's Economics for AP. New York: Worth Publishers/BFW, 2011. Video Series: Econ U$A series with Discussion FED Videos on Money and Inflation Class Activities/Work: David Anderson. Economics by Example, New York: Worth Publishers, 2007. Margaret Ray and David Mayer. Strive for a 5 New York: Worth Publishers, 2011 David Anderson and James Chasey. Favorite Ways to Learn Economics New York: Worth Publishers, 2011 Exercises (Module AP Review, Take the Test: Multiple-Choice Questions, Take the Test: Free-Response) included in textbook Lecture Notes and Class Activities included in Teacher Resource Binder or on Enhanced Teacher s Resource CD-ROM Completion of selected graphing and interpretative exercises in Morton, John S. Advanced Placement Economics, 3rd Ed. New York, NY: National Council on Economic Education, 2003 and additional exercises from the NCEE and other sources as necessary. Quizzes, Unit Testing, Multiple Choice Questions and Free Response Practice Supplies: Students will need a 2 binder, package of dividers, notebook paper, and a pen or pencil every day in class. Students will also need a package of thin markers, colored pencils and a glue stick. Students will be told when the additional supplies are needed in class. Students are also required to bring their binder and textbook to class DAILY.
CLASSROOM RULES: 1. Do not talk while others are talking. 2. Be in the room when the bell rings. 3. Come to class prepared. You will be tardy if you must go get materials. 4. Tests and quizzes are timed. You may not stay after class to finish a quiz or test. 5. Respect EVERYONE! 6. Use appropriate language at all times. 7. Sit in your assigned seats. 8. No Sleeping, if you are participating, you won t be sleepy. Grading: Grades will be weighted in the following way: Category Weight Included Assignments Summative 40 To Assess Mastery - Common Assessments/Unit tests, District Assessments, Major projects, Major papers Formative 40 To Assess Progress - Progress Assessments, group assignments, PBL tasks, independent work, lab reports Practice 20 For Learning and Practice - Guided practice, classwork, participation, homework Grading Scale: Changes have been made to the grading scale this year. The campus now has a D grade. The grading scaled is as follows: A 90-100 B 80-89 C 75-79 D 70-74 F Below 69 Absent Work: All students have the same number of days they are absent to make up assignments. What this means, is that if a student is absent on a Monday and Tuesday, they will have 2 days (Wednesday and Thursday) to make up work. If for some reason the student does not make the work up by Thursday, I will take the assignment the next day will receive a 10 point deduction per day past that, then it is my discretion. It is YOUR responsibility to ask me for the make-up assignments. After the allotted amount of time (in this case 2 days) the assignment will follow the late work policy. If a student misses a quiz or test, it is the student s responsibility to schedule a make-up. If the student fails to take the quiz or test within 3 days of returning to school, the students will receive a 0 for the assignment. Additionally, any work not turned in by the beginning of the period on the day it is due, will receive a 10-point deduction.
Late Work Policy: All work will be considered late if not turned in at the time it is due. For example, if a homework assignment is due at the start of class, an assignment turned in 20 minutes later will be marked late. The late policy is as follows: 10 points off for every DAY LATE (not class meeting, DAY). After 1 week late the assignment will be given a zero and the student will not have the opportunity to turn the assignment in any longer. To replace the zero, the Unit test for that homework assignment will take the place of the missing assignment. For example: A student has 3 zeros for practice assignments for material covered in Unit 1. The student takes the Unit 1 test and receives a 75, a 75 will take the place of the missing assignments. For classroom assignments a student s refusal to complete the work given in the allotted time will result in a grade of 0 given with no opportunity to replace the 0. Students must use their time wisely, refusal to use class time will not be tolerated or rewarded. RETEST POLICY: Retest opportunities should be provided for all students who are willing to improve their learning and grades. Any student that scores below 80% on a formative assignment has one week to request and take a retake. A grade of 80% of their makeup score will replace their initial grade in the grade book (unless the initial grade is the higher of the two). Students have one week to take a retest. In order to be eligible for the retest, students are responsible to see the teacher to schedule the retest. SUMMATIVE ASSESSMENTS ARE NOT ABLE TO BE RETAKEN. PLAGIARISM Any student who is caught plagiarizing, cheating, or copying someone else s work will receive a 0 and WILL BE REMOVED FROM THE CLASS. If you are not sure what plagiarism is, I will devote a full day to this topic in class or you can visit the following websites. Other than this, just ask me. http://www.plagiarism.org/ http://owl.english.purdue.edu/owl/resource/589/01/ http://www.indiana.edu/~wts/pamphlets/plagiarism.shtml Criteria s for exiting from AP Courses: -Refusal to complete a required summer assignment within 7 calendar days of the first day of class for returning students and within 14 days for new enrolled students -If the student has a failing grade by end of 5th week of the 1st quarter. -Documented refusal to attend requested tutorials, meetings, etc. -Severe or repeated plagiarism or other instance of severe academic dishonesty. -Repeated refusal to take AP tests, disruptions of past test administrations and documented unwillingness may be used as reasons to block a student from enrolling in an AP course.
Change of Course: If circumstances lead to a situation where either the student wishes to be moved out of the AP course or teacher provides feedback that student needs to be removed due to above mentioned criteria(s), then all stake holders- student, Teacher, Parent and Counselor has to either meet or get the AP course change form signed by all above mentioned stake holders in order to finalize the decision of changing the course. Work Expectations: All student work will be turned in neatly to the designated location. Any work that is turned in on half-sheets of paper, paper torn from a notebook with frayed edges, or paper from legal pad will automatically be deducted 30 points. I also expect work to be completed in black or dark blue pen, or pencil. Any other color is subject to loss of points. TIPS FOR SUCCESS IN MY CLASS: COMPLETE READINGS BEFORE COMING TO CLASS AND TAKE NOTES OVER THE READINGS Ask questions Keep up with work and materials Ask for help, if the instructions are not clear, then ask, if you don t ask, I don t know (I can t read minds). Come in for tutoring. Don t procrastinate Turn in work on time. Put your name on assignments (20 points off assignments without names) If you have a problem, see me. Don t plagiarize or cheat. If I catch you with someone else s work, I will give both students a zero with no opportunity to make the work up, NO EXCEPTIONS Study Do your work Have supplies and computer log-ins Keep old assignments- I make mistakes, I am human, if you can t show me the graded assignment, you keep the 0. Don t ask what you can do to pass the last week and a half of school. Be proactive if you are concerned about your grade. (Tutorial information will be sent at a later date) Do not turn in work on ½ sheets of paper, I will throw it away.
Course Outline Unit 1 8-12% of AP Basic Economic Concepts I. Basic Economic Concepts * A. Scarcity, choice and opportunity costs B. Production possibilities curve C. Comparative advantage, absolute advantage, specialization and exchange D. Demand, supply and market equilibrium E. Macroeconomic issues: business cycle, unemployment, inflation, and growth * Taken from the AP Economics Course Description II. Student Objectives A. Define the science of economics B. Distinguish between opportunity cost, scarcity and trade-offs. C. Distinguish between macroeconomics and microeconomics D. List the three basic economic questions E. Define comparative advantage F. Using both graphical and table analysis, show the benefit of employing comparative advantage G. Use a production possibilities curve to demonstrate opportunity cost and growth H. List the determinants of demand and supply curves I. Recognize which factors will cause demand curves or supply curves to shift J. Distinguish between changes in quantity demanded versus a change in demand K. Distinguish between changes in quantity supplied versus a change in supply L. Determine effects on price and quantity when equilibrium changes M. Describe the macroeconomic performance in the United States and other countries GDP, Not? inflation, unemployment and other indicators III. Graphs and Diagrams to be mastered A. Production Possibility Curve B. Demand and Supply Equilibrium C. Business Cycle IV. Key Terms Section 1 p. 32; Section 2 p. 96 (Textbook) V. Supplemental Activity A. Economics by Example: David Anderson Chapter 1: What s to Love About Economics Chapter 3: The Coffee Market s Hot; Why are Bean Prices B. Strive for a 5: Ray and Mayer Module 1 Activities p. 2-6
Module 2 Activities p. 7-10 Module 3 Activities p. 11-13 Module 4 Activities p. 14-16 Section 2 Before You Take the Test Featured Graph: Production Possibility Curve p. 16-18 Problems p. 18-23 Review Questions p. 24-27 C. Strive for a 5: Ray and Mayer Module 5 Activities p. 36-40 Module 6 Activities p. 41-44 Module 7 Activities p. 45-47 Section 2 Before You Take the Test Featured Graph: Demand/Supply Curves p. 54-56 Problems p. 56-59 (1-6 only) Review Questions p. 65-66 (1-11 only) D. Favorite Ways to Learn Economics: Anderson and Chasey Chapter 1 Economic Way of Thinking Class Room Experiments 1A and 1B Problem Sets 1.1-1.7 Chapter 2 Supply Demand and Efficiency Class Room Experiments 2A and 2B Problem Sets 2.1-2.3 Section 1 Textbooks pages Opening: Section 1 p. 1 Module 1: The Study of Economics p. 1-9 Module 2: Introduction to Macroeconomics p. 10-15 Module 3: The Production Possibilities Curve Model p. 16-22 Module 4: Comparative Advantage and Trade p. 23-30 \ Section 1 Summary p. 31-33 Section 1 Appendix: Graphs in Economics p. 34-45 Section 2 Opening: Section 2 p. 47 Module 5: Introduction to Demand p. 48-58 Module 6: Supply and Equilibrium p. 59-70 Module 7: Changes in Equilibrium p. 71-76 Module 8: Supply and Demand Controls (Ceilings and Floors) p. 77-88 Module 9: Supply and Demand Quantity Controls p. 88-94 Section 2 Summary p. 94-99
Unit 2 12-16% of AP Measurement of Economic Performance I. Measurement of Economic Performance* A. National income accounts 1. Circular flow 2. Gross domestic product 3. Components of gross domestic product 4. Real versus nominal gross domestic product B. Inflation measurement and adjustment 1. Price indices 2. Nominal and real values 3. Costs of inflation C. Unemployment 1. Definition and measurement 2. Types of unemployment 3. Natural rate of unemployment * Taken from the AP Economics Course Description II. Student Objectives A. Define Gross Domestic Product by expenditure and income approaches B. Distinguish between nominal GDP and real GDP C. Explain the limitations of GDP measures D. Define unemployment; list sources and types E. Define labor force participation rate F. Define the full employment level of GDP G. Distinguish between actual and potential GDP H. Explain the calculation of price indices GDP deflator, CPI, PPI I. Use price indices to calculate real wages and real interest rates III. Graphs and Diagrams to be mastered A. Circular Flow Diagram (simple and expanded) B. Effect of Minimum Wage on Labor Market IV. Formulas to be mastered A. Gross Domestic Product (GDP) = Consumption Spending + Government Spending + Investment Spending +Net Export Spending (GDP=C+G+I+Xn) B. Disposable Income (DI) = Personal Income Taxes + Transfers C. Per Capita GDP D. Calculation of Real GDP using an Index E. Labor Force Participation Rate F. Unemployment Rate G. Natural Rate of Unemployment H. Price Indexing and Consumer Price Index, Producer Price Index
V. Key Terms Section 3 p. 150 (Textbook) VI. Supplemental Activity A. Economics by Example: David Anderson Chapter 21: Why Do We Neglect Leisure and Cheer for Divorce? B. Strive for a 5: Ray and Mayer Module 10 Activities p. 80-84 Module 11 Activities p. 85-87 Module 12 Activities p. 88-90 Module 13 Activities p. 91-93 Module 14 Activities p. 94-96 Module 15 Activities p. 97-99 Section 3 Before You Take the Test Featured Graph: Circular Flow Model p. 100-101 Problems p. 102-108 Review Questions p. 109-112 C. Favorite Ways to Learn Economics: Anderson and Chasey Chapter 8 Macroeconomic Indicators Class Room Experiments 8A Problem Sets 8.1-8.4; 8.6-8.10 Section 3 Textbooks pages Opening: Section 3 p. 101 Module 10: The Circular Flow and GDP p, 102-111 Module 11: Interpreting RGDP p. 112-117 Module 12: The Meaning and Calculation of Unemployment p, 118-125 Module 13: The Causes and Categories of Unemployment p. 126-133 Module 14: Inflation: An Overview p. 134-141 Module 15: The Measurement and Calculation of Inflation p. 142-148 Section 3 Summary p. 148-155 Unit 3 10-15% of AP National Income and Price Determination I. National Income and Price Determination * A. Aggregate demand 1. Determinants of aggregate demand 2. Multiplier and crowding-out effects B. Aggregate supply 1. Short-run and long-run analyses 2. Sticky versus flexible wages and prices
3. Determinants of aggregate supply C. Macroeconomic equilibrium 1. Real output and price level 2. Short and long run 3. Actual versus full-employment output 4. Economic fluctuations * Taken from the AP Economics Course Description II. Student objectives A. List the determinants of aggregate demand B. Distinguish between changes in AD and a change in price level causing movement along the AD curve C. List reasons why the aggregate demand curve is down sloping D. List the determinants of aggregate supply E. Distinguish between changes in AS and a change in price level causing movement along the AS curve F. Explain and demonstrate the shape of the aggregate supply curve in the short and long run; define and show the full-employment level of output (Qf) G. Determine the importance of the shape of the AS curve on the effects of change in the AD curve H. Determine equilibrium using an aggregate demand/aggregate supply graph and show the effects on price level and Real GDP when equilibrium changes in both the long and the short run I. Given data, determine the size of the spending multiplier and assess is impact on aggregate demand J. Define Fiscal Policy discretionary and non-discretionary K. Define and measure the effect of built-in stabilizers on the economy L. Using AD/AS analysis, show the effect on price level and RDGP of changes in fiscal policy M. Define the balance budget multiplier N. Distinguish between sticky-price and sticky-wage models and flexible price and wage models; identify the effect of these differences on the AS curve III. Graphs and Diagrams to be mastered A. Aggregate Demand/Aggregate Supply Model (Short-run and Longrun) B. Potential vs. Actual Output C. Recessionary Gap and Inflationary Gap D. Sources of Tax Revenue and Government Spending in US E. Expansionary and Contractionary Fiscal Policy effects IV. Formulas to be mastered A. Marginal Propensity to Consume (MPC) B. Marginal Propensity to Save (MPS) C. Spending Multiplier 1/MPS V. Key Terms Section 4 p. 216 (Textbook)
VI. Supplemental Activity A. Economics by Example: David Anderson Chapter 25: How Much Debt is Too Much? B. Strive for a 5: Ray and Mayer Module 16 Activities p.122-125 Module 17 Activities p. 126-128 Module 18 Activities p. 129-131 Module 19 Activities p. 132-135 Module 20 Activities p. 136-138 Module 21 Activities p. 139-141 Section 4 Before You Take the Test Featured Graph: Aggregate Demand-Aggregate Supply Model p. 141-144 Problems p. 144-150 Review Questions p. 150-153 C. Favorite Ways to Learn Economics: Anderson and Chasey Chapter 11 Aggregate Demand, Aggregate Supply and Aggregate Expenditure Classroom Experiment 11A and 11B Problem Sets 11.1; 11.3-11.6 Chapter 9 Monetary and Fiscal Policy Class Room Experiments 9A Problem Sets 9.1 Section 4 Textbooks pages Opening: Section 4 p. 157 Module 16: Income and Expenditures p. 158-171 Module 17: AD: Introduction and Determinants p. 172-178 Module 18: AS: Introduction and Determinants p. 179-189 Module 19: Equilibrium in the AD/AS Model p. 190-198 Module 20: Economic Policy and the AD/AS Model p. 199-208 Module 21: Fiscal Policy and the Multiplier p. 209-214 Section 4 Summary p. 215-219 Unit 4 15-20% of AP Financial Sector I. Financial Sector * A. Money, banking and financial markets 1. Definition of financial assets: money, stocks, bonds 2. Time value of money (present and future value) 3. Measures of money supply 4. Banks and creation of money 5. Money demand 6. Money market 7. Loanable funds market B. Central bank and control of the money supply
1. Tools of central bank policy 2. Quantity theory of money 3. Real versus nominal interest rates * Taken from the AP Economics Course Description II. Student Objectives A. Define and list factors influencing money demand B. Define money supply C. Explain the financial system and define various types of financial assets D. Define the Savings Investment Spending Identity E. Demonstrate understanding of the time value of money F. Define a fractional banking system G. Explain the role of the Federal Reserve System in the economy H. Identify and examine the tools of central bank policy and their impact on money supply and interest rates I. Describe the process of money creation and multiple-deposit expansion J. Given data, determine the size of the money multiplier and assess its impact on the money supply K. Distinguish between nominal and real interest rates III. Graphs and Diagrams to be mastered A. Money Market: Demand and Supply of Money and Equilibrium B. Loanble Funds Market Demand and Supply of Loanable Funds and Equilibrium C. TED spread IV. Formulas to be mastered A. Money Supply measurements (M1 and M2) B. Present Value C. Money Creation by the banking system D. Money Multiplier V. Key Terms Section 5 p. 290 (Textbook) VI. Supplemental Activity A. Economics by Example: David Anderson Chapter 22: Does the Money Supply Matter? B. Strive for a 5: Ray and Mayer Module 22 Activities p. 164-167 Module 23 Activities p. 169-171 Module 24 Activities p. 172-173 Module 25 Activities p. 174-177 Module 26 Activities p. 178-180 Module 27 Activities p. 181-183 Module 28 Activities p. 184-186 Module 29 Activities p. 187-189 Section 5 Before You Take the Test Featured Graph: Money Market/Loanable Funds Market p. 189-190
Problems p. 191-197 Review Questions p. 197-201 C. Favorite Ways to Learn Economics: Anderson and Chasey Chapter 10 Macroeconomic Indicators Class Room Experiments 10A and 10B Problem Sets 10.1-10.2 Chapter 9 Macroeconomic Indicators Class Room Experiments 9A Problem Sets 9.1 Section 5 Textbooks pages Opening Section 5 p. 221 Module 22: Saving, Investment and the Financial System p. 222-230 Module 23: The Definition and Measurement of Money p. 231-236 \Module 24: The Time Value of Money p. 237-242 Module 25: Banking and Money Creation p. 243-252 Module 26: The Fed. History and Structure p. 253-261 Module 27: The Fed. Monetary Policy p. 262-267 Module 28: The Money Market p. 268-276 Module 29: The Market for Loanable Funds p. 277-287 Section 5 Summary p. 288-293 Unit 5 20-30% of AP Inflation, Unemployment and Stabilization Policies I. Inflation, Unemployment, and Stabilization Policies * A. Fiscal and monetary policies 1. Demand-side effects 2. Supply-side effects 3. Policy mix 4. Government deficits and debt B. Inflation and unemployment 1. Types of inflation a. Demand-pull inflation b. Cost-push inflation 2. The Phillips curve: short run versus long run 3. Role of expectations * Taken from the AP Economics Course Description II. Student objectives A. Assess the effect of fiscal and monetary policy on real output, price level and the level of employment in the long and short run B. Gain understanding of how an economy responds to a short-run shock and adjusts in the long run in the absence of any public policy actions C. Examine the economic effects of government deficit budgets including crowding out
D. Consider issues surrounding the size and burden of the national debt E. Gain understanding of inflation-unemployment tradeoffs using short and long run Phillips curve analysis F. Show the causes of inflation on an AD/AS model G. Define the quantity theory of money H. Speculate on the role of inflationary expectations on price level and output III. Graphs and Diagrams to be mastered A. Money Market Model: Effect of policy actions on interest rate B. Money Market Model: Setting the Federal Funds rate C. Money Market Transition Mechanism: Short run and long run effects of expansionary and contractionary policy changes D. Tracking Monetary Policy Using the Output Gap, Inflation and the Taylor Rule E. Long-Run Determination of the Interest Rate F. Classical Model of Price Level G. Cyclical Unemployment and the Output Gap H. Short Run Phillips Curve I. Short Run Phillips Curve showing Supply Shocks; showing expected inflation J. Long Run Phillips Curve and NAIRU (non-accelerating rate of unemployment) K. The Fischer Effect L. Fiscal Policy with a Fixed Money Supply IV. Key Terms Section 6 p. 362 (Textbook) VI. Supplemental Activity A. Economics by Example: David Anderson Ch. 19: Will Technology Put Us All Out of Work? B. Strive for a 5: Ray and Mayer Module 30 Activities p. 214-216 Module 31 Activities p. 217-219 Module 32 Activities p. 220-222 Module 33 Activities p. 223-225 Module 34 Activities p. 226-229 Module 35 Activities p. 230-233 Module 36 Activities p. 234-235 Section 6 Before You Take the Test Featured Graph: The Phillips Curve p. 235-236 Problems p. 236-242 Review Questions p. 242-247 C. Favorite Ways to Learn Economics: Anderson and Chasey Chapter 8 Macroeconomic Indicators, deficits and Debts Class Room Experiments 8B Problem Set 8.11
Chapter 9 Monetary and Fiscal Policy Class Room Experiments (none) Problem Sets 9.3 Section 6 Textbooks pages Opening Section 6 p. 295 Module 30: Long Run Implications of Fiscal Policy: p. 296-306 Deficits and the Public Debt Module 31: Monetary Policy and the interest Rate p. 307-314 Module 32: Money, Output and Prices in the Long Run p. 315-320 Module 33: Types of Inflation, Disinflation and Deflation p. 321-330 Module 34: Inflation and Unemployment: The Phillips Curve p. 331-342 Module 35: History and Alternative Views of Macroeconomics p. 343-354 Module 36: The Modern Macroeconomic Consensus p. 355-360 Section 6 Summary p. 361-365 Unit 6 5-10% of AP Economic Growth and Productivity I. Economic Growth and Productivity * A. Investment in human capital B. Investment in physical capital C. Research and development, and technological progress D. Growth policy * Taken from the AP Economics Course Description II. Student Objectives A. Define economic growth and list the factors that stimulate growth B. Assess the role of productivity in raising real output and standard of living C. Suggest how public policies stimulate economic growth III. Graphs and Diagrams to be mastered A. Trade-off Between Investment and Consumer Goods B. Short Run movements along Long Run Aggregate Supply C. Long Run Aggregate Supply Curve and Economic Growth IV. Formulas to be mastered A. Real GDP per Capita B. Rule of 70 C. Aggregate Production Function V. Key Terms Section 7 p. 45 (Textbook) VI. Supplemental Activity A. Economics by Example: David Anderson Chapter 28: Why Are Some Nations Rich and Others Poor? B. Strive for a 5: Ray and Mayer Module 37 Activities p. 260-262 Module 38 Activities p. 263-265
Module 39 Activities p. 266-268 Module 40 Activities p. 269-270 Section 7 Before You Take the Test Featured Graph: Long run Growth-PPC and AD/AS p. 271 Problems p. 271-275 Review Questions p. 275-277 Section 7 Textbooks pages Opening Section 7 p. 367 Module 37: Long Run Economic Growth p. 368-375 Module 38: Productivity and Growth p. 376-386 Module 39: Growth Policy: Why Economic Growth Rates Differ p. 387-397 Module 40: Economic Growth in Macroeconomic Models p. 398-404 Section 7 Summary p. 404-408 Unit 7 10-15% of AP Open Economy: International Trade and Finance I. Open Economy: International Trade and Finance * A. Balance of Payments accounts 1. Balance of trade 2. Current account 3. Capital account B. Foreign exchange market 1. Demand for and supply of foreign exchange 2. Exchange rate determination 3. Currency appreciation and depreciation C. Net exports and capital flows D. Links to financial and goods markets * Taken from the AP Economics Course Description II. Student objectives A. Explain how the balance of payments accounts are recorded B. Explain the effect of trade restrictions C. List the factors that influence equilibrium foreign exchange rates D. Using demand/supply analysis, show how market forces and public policy affect currency demand and currency supply E. Define currency appreciation and depreciation and relate to graphical analysis F. State the effects of appreciation and depreciation on a country s net exports G. Understand how changes in net exports and capital flows affect financial and goods markets III. Graphs and Diagrams to be mastered A. Balance of Payments Accounts B. International Capital Flows
C. Foreign Exchange Markets D. Fixed Exchange Markets and Market Intervention E. Monetary Policy Effects and the Exchange Rate IV. Key Terms Section 8 p. 453 (Textbook) V. Supplemental Activities A. Economics by Example: David Anderson Chapter 27: Is Globalization A Bad Word? B. Strive for a 5: Ray and Mayer Module 41 Activities p. 284-286 Module 42 Activities p. 287-289 Module 43 Activities p. 290-292 Module 44 Activities p. 293-294 Module 45 Activities p. 295-296 Section 8 Before You Take the Test Featured Graph: Foreign Exchange Model p. 296-297 Problems p. 297-305 Review Questions p. 305-309 C. Favorite Ways to Learn Economics: Anderson and Chasey Chapter 12 International Economics Class Room Experiments 12A and 12 B Problem Set 12.1-12.6 Section 8 Textbooks pages Opening Section 8 p. 409 Module 41: Capital Flows and the Balance of Payments p. 410-420 Module 42: The Foreign Exchange Market p. 421-430 Module 43: Exchange Rate Policy p. 437-442 Module 44: Exchange Rates and Macroeconomic Policy p. 443-451 Module 45: Putting it All Together p. 443-451 Section 8 Summary p. 452-455 Assessment There will be 7 Unit Tests and one or more quizzes during each unit. Within each unit, Free Response Questions and Multiple Choice Questions will be used for reinforcement and practice. Students will be informally assessed with other instruments of assessment such as homework assignments, on-line assignments, and group work in the classroom. It is expected that all students will take the AP Macroeconomics exam scheduled in May. Review sessions will be held in April and will include test taking strategy and practice tests as well as content review.
Ms. Gray- AP Macroeconomics **** PLEASE RETURN THIS PAGE NO LATER THAN NEXT CLASS ***** STUDENT INFORMATION FORM Name: Student email address: Expected Grade in Course: Extra-Curricular Activities: What is your BEST core curriculum subject? (circle one) MATH SCIENCE ENGLISH HISTORY Have you read and understood the course expectations and syllabus? YES or NO Please sign and have your parent sign on the appropriate blanks below: By signing you agree that you have read and understood the course expectations and syllabus. Student Signature: Parent Signature: Date: Date: Parent email: Parent phone #: Preferred method of contact (please circle one): Email Phone Call E-Mail Communication: If you (student or parent) ever have any questions please do not hesitate to contact me. I look forward to a great year and getting to know your students.