Velocity Formula
V= PY/M
Quantity Equation
MV=PY or as your notes say MV=PQ. Both Q and Y represent output (real GDP). As you know, P x Y = nominal GDP (price times output)
The Quantity Theory in 5 Steps:
1. V is stable.
2. So, a change in M causes nominal GDP (P x Y) to change by the same percentage.
3. A change in M does not affect Y: money is neutral, Y is determined by technology & resources.
4. So, P changes by same percentage as P x Y and M.
5. Rapid money supply growth causes rapid inflation
To find the change in P, use this formula:
P=PY/Y (common sense right? the price level is the difference between nominal and real GDP (PY = nominal).
Once you know the change in price level, use the CPI or GDP deflator formula to figure the inflation rate.
Basically, it's current -previous/previous.....remember this from last semester????
ALWAYS REMEMBER:
Inflation…
raises nominal interest rates (Fisher effect) but not real interest rates
increases savers’ tax burdens
lowers the after-tax real interest rate
Wednesday, January 26, 2011
AP Macro Nominal vs Real interest rates
1. Nominal Interest Rates vs. Real Interest Rates
Suppose we buy a 1 year bond for face value that pays 6% at the end of the year. We pay $100 at the beginning of the year and get $106 at the end of the year. Thus the bond pays an interest rate of 6%. This 6% is the nominal interest rate, as we have not accounted for inflation. Whenever people speak of the interest rate they're talking about the nominal interest rate, unless they state otherwise.
Now suppose the inflation rate is 3% for that year. We can buy a basket of goods today and it will cost $100, or we can buy that basket next year and it will cost $103. If we buy the bond with a 6% nominal interest rate for $100, sell it after a year and get $106, buy a basket of goods for $103, we will have $3 left over. So after factoring in inflation, our $100 bond will earn us $3 in income; a real interest rate of 3%. The relationship between the nominal interest rate, inflation, and the real interest rate is described by the Fisher Equation:
Real Interest Rate = Nominal Interest Rate - Inflation
If inflation is positive, which it generally is, then the real interest rate is lower than the nominal interest rate. If we have deflation and the inflation rate is negative, then the real interest rate will be larger.
Suppose we buy a 1 year bond for face value that pays 6% at the end of the year. We pay $100 at the beginning of the year and get $106 at the end of the year. Thus the bond pays an interest rate of 6%. This 6% is the nominal interest rate, as we have not accounted for inflation. Whenever people speak of the interest rate they're talking about the nominal interest rate, unless they state otherwise.
Now suppose the inflation rate is 3% for that year. We can buy a basket of goods today and it will cost $100, or we can buy that basket next year and it will cost $103. If we buy the bond with a 6% nominal interest rate for $100, sell it after a year and get $106, buy a basket of goods for $103, we will have $3 left over. So after factoring in inflation, our $100 bond will earn us $3 in income; a real interest rate of 3%. The relationship between the nominal interest rate, inflation, and the real interest rate is described by the Fisher Equation:
Real Interest Rate = Nominal Interest Rate - Inflation
If inflation is positive, which it generally is, then the real interest rate is lower than the nominal interest rate. If we have deflation and the inflation rate is negative, then the real interest rate will be larger.
Thursday, January 20, 2011
AP Macro book site
http://websites.swlearning.com/cgi-wadsworth/course_products_wp.pl?fid=M20b&product_isbn_issn=9780324236958&discipline_number=413
This URL will take you to the website for your textbook, giving you access to powerpoint notes, practice quizzes, etc. Check it out!
This URL will take you to the website for your textbook, giving you access to powerpoint notes, practice quizzes, etc. Check it out!
Tuesday, January 4, 2011
AP Macro Resource link for Semester 2
If you need additional resources, please go to the following:
http://www.thomsonedu.com/economics/mankiw/edition_4/macro.html
This is the AP textbook resource website!
http://www.thomsonedu.com/economics/mankiw/edition_4/macro.html
This is the AP textbook resource website!
Semester 2 Pre AP Course Syllabus
PRE-ADVANCED PLACEMENT
World Geography & World History
Course Description
This is a semester course which will provide the content knowledge and skills necessary to understand the roles, relationships, and responsibilities of people and cultures both past and present. This course will analyze the impact of geography (both political and physical) on the development of societies. You will study the ancient cultures’ of China, India, Southwest Asia and Latin America.. You will chart the movement of population and study the relationship between economic status and social status. You will study the world from a variety of viewpoints with a focus of individual research and decision making.
During the year, we will delve into the themes of world history including topics such as politics, religion, and social class. We will study the main geographical themes of location, place, movement, region, and human/environment interaction. Pre-AP is designed to help you develop the skills necessary to succeed in your future Advanced Placement and honors classes. You will learn writing and reading strategies, the beginnings of how to write a Document Based Questions (DBQ), and how to present information professionally and accurately.
Course Objectives
• Analyze and interpret multiple perspectives relative to historical events
• Develop expository writing skills
• Demonstrate research skills and creative application of historical & geographical knowledge
• Explain and demonstrate the relevance of history and geography to contemporary life
• Debate issues of social, economic, and political importance
• Appreciate differences among people and understand cultural relativity
During the year, students will be asked continuously to connect geographical and historical concepts and events to issues of contemporary importance. This is not an easy task, but it is a necessary one to understand and find relevance in social studies. I encourage parents to help students in this endeavor.
Grading Scale Make-up Policy
90-100% = A Unexcused Absence = 50% max credit
80-89% = B Excused Absence = 2 make up days
74-79% = C Parents need to write a note to, call, or email
70-73% = D the school in order to have an absence excused.
Below 70% = F Note: broken printers, lost materials, and so
on will not be acceptable as excuses.
Attendance
Part of a Pre-AP student’s grade depends on meaningful participation in class discussions and activities. Therefore, it is important that students come to class everyday and participate with an extremely positive attitude.
Cheating
Cheating is an offense that will not be tolerated regardless of any excuse presented. Consequences for cheating are outlined in the Student Handbook. It is the responsibility as student and parent to become familiar with the contents of that handbook or any other Kell High School policies.
Grade Determination
Type % of Grade
Tests 25%
Projects 25%
Tasks/essays/daily work 30%
Quizzes 10%
Final Exam 10%
Learn to take responsibility for your own actions and hold yourself accountable. Don’t blame the teacher for a poor grade or performance. The easiest way isn’t always the best way. Teachers don’t give grades to you; you earn them. Remember an “A” grade is an excellent grade; they are not earned by just turning in all your work and making it to class. Those things are basic expectations for all students.
Course Outline
Unit Topics
1 Basics of Geography
2. Southwest Asia
3 South Asia
4 East Asia
5 Early Civilization in the Americas
Organizational Skills
Students will be required to keep a notebook (3 ring, 1 1/2 inch binder), which will contain the following items:
1. 100 sheets of paper
2. All handouts from the year (gained as we go).
3. Student’s name, class, and other identifiable marks.
It is your responsibility to collect your papers and check them for grading accuracy. Any papers without name and period on them will be put into a lost file for one week and then put into the recycling bin.
Finally, I expect all Pre-AP students to be honest, conscientious and respectful at all times. I also hope that you will all have a good time this semester in my class.
PLEASE READ AND FILL OUT THE FOLLOWING PORTION OF THE SYLLABUS AND RETURN TO MRS. ROGERS FOR A FREE STN.
I, _____________________________________________, have read the entire syllabus
Student’s Name
and agree to all the stipulations, grading criteria, and anything else covered in the syllabus. I understand that the teacher, Mr. Robinson, does not give out grades, but rather that I earn them. I will take part in all class activities with a positive attitude and will maintain good attendance throughout the year. I understand that failure to follow Kell School and classroom rules could jeopardize my grade in Pre-AP.
Student Name: ______________________________________________Date:________________
Student Signature: ___________________________________________
Parent/Guardian Signature: ____________________________________________
Parents’ cell phone number_____________________
Parents’ e-mail address_______________________________
World Geography & World History
Course Description
This is a semester course which will provide the content knowledge and skills necessary to understand the roles, relationships, and responsibilities of people and cultures both past and present. This course will analyze the impact of geography (both political and physical) on the development of societies. You will study the ancient cultures’ of China, India, Southwest Asia and Latin America.. You will chart the movement of population and study the relationship between economic status and social status. You will study the world from a variety of viewpoints with a focus of individual research and decision making.
During the year, we will delve into the themes of world history including topics such as politics, religion, and social class. We will study the main geographical themes of location, place, movement, region, and human/environment interaction. Pre-AP is designed to help you develop the skills necessary to succeed in your future Advanced Placement and honors classes. You will learn writing and reading strategies, the beginnings of how to write a Document Based Questions (DBQ), and how to present information professionally and accurately.
Course Objectives
• Analyze and interpret multiple perspectives relative to historical events
• Develop expository writing skills
• Demonstrate research skills and creative application of historical & geographical knowledge
• Explain and demonstrate the relevance of history and geography to contemporary life
• Debate issues of social, economic, and political importance
• Appreciate differences among people and understand cultural relativity
During the year, students will be asked continuously to connect geographical and historical concepts and events to issues of contemporary importance. This is not an easy task, but it is a necessary one to understand and find relevance in social studies. I encourage parents to help students in this endeavor.
Grading Scale Make-up Policy
90-100% = A Unexcused Absence = 50% max credit
80-89% = B Excused Absence = 2 make up days
74-79% = C Parents need to write a note to, call, or email
70-73% = D the school in order to have an absence excused.
Below 70% = F Note: broken printers, lost materials, and so
on will not be acceptable as excuses.
Attendance
Part of a Pre-AP student’s grade depends on meaningful participation in class discussions and activities. Therefore, it is important that students come to class everyday and participate with an extremely positive attitude.
Cheating
Cheating is an offense that will not be tolerated regardless of any excuse presented. Consequences for cheating are outlined in the Student Handbook. It is the responsibility as student and parent to become familiar with the contents of that handbook or any other Kell High School policies.
Grade Determination
Type % of Grade
Tests 25%
Projects 25%
Tasks/essays/daily work 30%
Quizzes 10%
Final Exam 10%
Learn to take responsibility for your own actions and hold yourself accountable. Don’t blame the teacher for a poor grade or performance. The easiest way isn’t always the best way. Teachers don’t give grades to you; you earn them. Remember an “A” grade is an excellent grade; they are not earned by just turning in all your work and making it to class. Those things are basic expectations for all students.
Course Outline
Unit Topics
1 Basics of Geography
2. Southwest Asia
3 South Asia
4 East Asia
5 Early Civilization in the Americas
Organizational Skills
Students will be required to keep a notebook (3 ring, 1 1/2 inch binder), which will contain the following items:
1. 100 sheets of paper
2. All handouts from the year (gained as we go).
3. Student’s name, class, and other identifiable marks.
It is your responsibility to collect your papers and check them for grading accuracy. Any papers without name and period on them will be put into a lost file for one week and then put into the recycling bin.
Finally, I expect all Pre-AP students to be honest, conscientious and respectful at all times. I also hope that you will all have a good time this semester in my class.
PLEASE READ AND FILL OUT THE FOLLOWING PORTION OF THE SYLLABUS AND RETURN TO MRS. ROGERS FOR A FREE STN.
I, _____________________________________________, have read the entire syllabus
Student’s Name
and agree to all the stipulations, grading criteria, and anything else covered in the syllabus. I understand that the teacher, Mr. Robinson, does not give out grades, but rather that I earn them. I will take part in all class activities with a positive attitude and will maintain good attendance throughout the year. I understand that failure to follow Kell School and classroom rules could jeopardize my grade in Pre-AP.
Student Name: ______________________________________________Date:________________
Student Signature: ___________________________________________
Parent/Guardian Signature: ____________________________________________
Parents’ cell phone number_____________________
Parents’ e-mail address_______________________________
Semester 2 Econ Syllabus
Course Description: The vast majority of the world’s population participates in some form of economic activity on a daily basis. Whether bartering goods using shells or investing in world markets, economic interactions are necessary in our lives. This course is a detailed study of the six primary principles of economics: fundamental concepts, microeconomics, free enterprise, macroeconomics, governmental economic policy, and international economics. You will be expected to actively participate in the analysis of the various topics that we will address. This will be done via several techniques including but not limited to: class discussions, large and small group discussions, simulations, videos, and class projects.
The emphasis of this course is getting you to think analytically about economics, an issue you will surely experience for the rest of your lives.
Materials Required: Red, Black, and Green pens, pencils, one 3 ring binder, one package of dividers, two packs of 3 x 5 notecards
Textbook: Economics: Principles in Action by Prentice Hall ($51.47)
Units of Study
Unit 1 Intro to Econ
Unit 2 Microeconomics
Unit 3 Free Enterprise
Unit 4 Macroeconomics
Unit 5 Government and the Economy
Unit 6 International Economics
Grade Percentages:
Tests 35%
Daily Assignments/Quizzes/Vocabulary 30%
Projects 15%P
articipation 5%
EOCT 15%
EXPECTATIONS
1. Be on time for class. Class will start when the bell rings. Tardy policy in Student Handbook will be followed strictly. Additionally, class ends when the teacher has decided so.
2. Come Prepared to class with your textbook, notebook, and pen/pencils. I am not responsible for supplying you with these items.
3. Participate in class discussion and activities.
4. COMPLETE all assignments. There is a strong correlation between students with borderline grades and those who have not completed assignments. No matter how big or small the assignment, DO IT!
5. SCHOOL POLICY will be STRICTLY FOLLOWED concerning dress code and hats in the classroom
6. SCHOOL POLICY will be STRICTLY FOLLOWED concerning the use of headphones and electronic devices.
7. Only WATER will be allowed in class unless otherwise indicated by teachers.
8. RESPECT others and their property. After all, you want to be treated well too.
9. YOU are responsible for completing your work with the exception of some major projects, ALL HOMEWORK AND DAILY WORK IS DUE ON TIME. Late work will be accepted one day late for half credit. Late Projects grades will decrease by one letter grade for every day late. If you know that you will be absent from school for any reason, have someone bring your project to school.
10. MAKE-UP WORK – IT’S YOUR RESPONSIBLILTY to schedule the day and time to make up any missed assignments when excused a timely fashion. Make-ups are generally offered on Tuesdays.
11. WORK HARD!!! DON’T HARDLY WORK!!
ACADEMIC INTEGRITY
Cheating is considered a serious matter. The parents of a student who has been involved in cheating will be notified and the student will receive a grade of zero for the test or evaluation period, and a grade of U in conduct.For this course, cheating is defined as, but is not limited to, the following acts:§ Copying anyone’s answers to questions, exercises, study guides, classwork or homework assignments§ Taking any information verbatim from any source, including the Internet, without giving proper credit to the author, or rearranging the order of words and/or changing some words as written by the author and claiming the work as his or her own, i.e., plagiarism.§ Looking onto another student’s paper during a test or quiz.§ Having available any study notes or other test aids during a test or quiz without the teacher's permission.§ Collaborating on assignments when independent work is expected.§ Students displaying cell phones during tests and/or quizzes will have their cell phones confiscated, and will be given a zero for that test or quiz.Confirmation.
YOUR SIGNATURE BELOW INDICATES YOURAGREEMENT WITH THE FOLLOWING:§ I have read and understand the academic integrity policy.§ I have reviewed the class syllabus and understand the grading policy.§ I give permission for my child to view G, PG or PG13 movies if they are related to the curriculum of the class.§ I give permission for my child to read the class parallel readings noted in the syllabus.§ I am willing to be contacted by email.§ I have access to the internet and will access the Pinnacle parent feature (once it is available) to check on my child's progress. I understand that teachers will make every effort to post grades within 2 weeks of accepting the assignment, but that posting of grades for larger papers and projects may extend beyond the 2 week timeframe.
Student Signature ________________________________________
Date:_________
Parent/Guardian Signature _____________________________
Date:_________
Contact Information:
Name of Parent____________________________________________________________
Parent Telephone Number_____________________ (H)______________________(W)
Parent Email ___________________________________________________________
Posted by Steven Robinson at 10:20 AM
The emphasis of this course is getting you to think analytically about economics, an issue you will surely experience for the rest of your lives.
Materials Required: Red, Black, and Green pens, pencils, one 3 ring binder, one package of dividers, two packs of 3 x 5 notecards
Textbook: Economics: Principles in Action by Prentice Hall ($51.47)
Units of Study
Unit 1 Intro to Econ
Unit 2 Microeconomics
Unit 3 Free Enterprise
Unit 4 Macroeconomics
Unit 5 Government and the Economy
Unit 6 International Economics
Grade Percentages:
Tests 35%
Daily Assignments/Quizzes/Vocabulary 30%
Projects 15%P
articipation 5%
EOCT 15%
EXPECTATIONS
1. Be on time for class. Class will start when the bell rings. Tardy policy in Student Handbook will be followed strictly. Additionally, class ends when the teacher has decided so.
2. Come Prepared to class with your textbook, notebook, and pen/pencils. I am not responsible for supplying you with these items.
3. Participate in class discussion and activities.
4. COMPLETE all assignments. There is a strong correlation between students with borderline grades and those who have not completed assignments. No matter how big or small the assignment, DO IT!
5. SCHOOL POLICY will be STRICTLY FOLLOWED concerning dress code and hats in the classroom
6. SCHOOL POLICY will be STRICTLY FOLLOWED concerning the use of headphones and electronic devices.
7. Only WATER will be allowed in class unless otherwise indicated by teachers.
8. RESPECT others and their property. After all, you want to be treated well too.
9. YOU are responsible for completing your work with the exception of some major projects, ALL HOMEWORK AND DAILY WORK IS DUE ON TIME. Late work will be accepted one day late for half credit. Late Projects grades will decrease by one letter grade for every day late. If you know that you will be absent from school for any reason, have someone bring your project to school.
10. MAKE-UP WORK – IT’S YOUR RESPONSIBLILTY to schedule the day and time to make up any missed assignments when excused a timely fashion. Make-ups are generally offered on Tuesdays.
11. WORK HARD!!! DON’T HARDLY WORK!!
ACADEMIC INTEGRITY
Cheating is considered a serious matter. The parents of a student who has been involved in cheating will be notified and the student will receive a grade of zero for the test or evaluation period, and a grade of U in conduct.For this course, cheating is defined as, but is not limited to, the following acts:§ Copying anyone’s answers to questions, exercises, study guides, classwork or homework assignments§ Taking any information verbatim from any source, including the Internet, without giving proper credit to the author, or rearranging the order of words and/or changing some words as written by the author and claiming the work as his or her own, i.e., plagiarism.§ Looking onto another student’s paper during a test or quiz.§ Having available any study notes or other test aids during a test or quiz without the teacher's permission.§ Collaborating on assignments when independent work is expected.§ Students displaying cell phones during tests and/or quizzes will have their cell phones confiscated, and will be given a zero for that test or quiz.Confirmation.
YOUR SIGNATURE BELOW INDICATES YOURAGREEMENT WITH THE FOLLOWING:§ I have read and understand the academic integrity policy.§ I have reviewed the class syllabus and understand the grading policy.§ I give permission for my child to view G, PG or PG13 movies if they are related to the curriculum of the class.§ I give permission for my child to read the class parallel readings noted in the syllabus.§ I am willing to be contacted by email.§ I have access to the internet and will access the Pinnacle parent feature (once it is available) to check on my child's progress. I understand that teachers will make every effort to post grades within 2 weeks of accepting the assignment, but that posting of grades for larger papers and projects may extend beyond the 2 week timeframe.
Student Signature ________________________________________
Date:_________
Parent/Guardian Signature _____________________________
Date:_________
Contact Information:
Name of Parent____________________________________________________________
Parent Telephone Number_____________________ (H)______________________(W)
Parent Email ___________________________________________________________
Posted by Steven Robinson at 10:20 AM
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