AP Macroeconomics Syllabus

Syllabus A.P. Macroeconomics




The purpose of an Advanced Placement course in macroeconomics is to give students a thorough understanding of the principles of economics that apply to national income and price determination, economic performance measures, economic growth, and international economics.



Materials: In order to be fully prepared, students are expected to have their notebooks (one with pockets to hold handouts), and pens or pencils in class everyday. You will be advised ahead of time if you need any additional materials.



Grading Procedures: Students will be assessed in a variety of ways. This may include but not be limited to homework, worksheets, quizzes, tests, daily work, projects (both individual and group), and a final exam.



The break down of these grades will be as follows:

Tests: 40%.

Daily Activities: 40%

Projects: 5%

State Mandated End of Course Test 15%



Students and parents must understand up front that this is a college level class. As such, students will be expected to spend a great deal more time on this class than they would in an ordinary class. The very nature of economics makes it almost like a foreign language—with its own vernacular and vocabulary. It is very important for the student to work on economics daily or they will ultimately get behind and not be able to catch up.



SUMMARY OUTLINE: AP MACROECONOMICS COURSE AND EXAMINATION

Content Area % goals of examination

I. Basic economic concepts 8-12%

A. Scarcity, choice and opportunity costs

B. Production possibilities curve

C. Comparative advantage, absolute advantage, specialization and exchange

D. Demand, supply, market equilibriumE. Macroeconomic issues, business cycle, unemployment, inflation and growth



II. Measurement of economic performance 12-16%

A. National income accounts (4-6%)

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 (4-5%)

1. Price indices

2. Nominal and real values

3. Costs of inflation

C. Unemployment (4-5%)

1. Definition and measurement

2. Types of unemployment

3. Natural rate of unemployment



III. National income and price determination 10-15%

A. Aggregate demand (5-8%)

1. Determinants of aggregate demand

2. Multiplier and crowding-out- effects

B. Aggregate supply (5-8%)

1. Short-run and long run analyses

2. Sticky versus flexible wages and prices3. Determinants of aggregate supply

C. Macroeconomic equilibrium (5-8%)

1. Real output and price level

2. Short and long run

3. Actual versus full-employment output

4. Economic fluctuations



IV. Financial Sector 15-20%

A. Money, Banking, and financial markets (7-15%)

1. Definition of financial assets: money, stocks, bonds

2. Time value of money

3. Measure of money supply

4. Banks creation of money

5. Money demand

6. Money market

7. Loanable funds market

B. Central bank and control of the money supply (3-5%)

1. Tools of central bank policy

2. Quantity theory of money

3. Real versus nominal interest rates



V. Inflation, Unemployment, and Stabilization Policies (20-30%)

A. Fiscal and monetary policies (15-20%)

1. Demand-side effects

2. Supply-side effects

3. Policy mix

4. Government deficits and debt

B. Inflation and unemployment (5-10%)

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



VI. Economic Growth and Productivity (5-10%)

A. Investment in human capital

B. Investment in physical capital

C. Research and development, and technological progress

D. Growth policy



VII. Open Economy: International Trade and Finance (10-15%)

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

Note: The percentages approximate the weight on the AP exam. These change from year to year so I will be making adjustments as needed. I reserve the right to make adjustments in course content and/or grading procedures as needed.Copyright College Entrance Examination Board and Educational Testing Services



CLASSROOM RULES AND PROCEDURES: School Policies/General Information:- All school policies will apply in the classroom. This includes the policy on food, drink, candy and gum in the classroom.Class Preparation:- Students are expected to be in the room when the bell rings. Failure to abide by this will result in the student being counted as tardy.



Classroom Behavior:- This class is conducted like a college level classroom. You are expected to participate in all activities.- Unless it is an extreme emergency no bathroom passes will be issued.Homework:-

Homework will be a part of this class. The Kell policy on late work will be adhered to strictly.

Grading:- Students with excused absences will have five class days to make up homework, tests or exams. Failure to make up a test within five days will result in a zero. Makeup work is your responsibility. High school students tend to study independently while college students tend to study in groups. This is a college level class. Study in groups!!!. However, honesty is expected on all work. Only your work will be accepted. Copying other people’s homework is not studying together and is considered cheating and will be dealt with accordingly.



Remediation/Reassessment Plan:

• Every student will be allowed the opportunity to show proficiency for each standards-based, summative, assessment.

• If a student scores less than a 75% on the unit test, they have the option of retaking that test after completing the following remediation plan.

o Step one – the student must complete the chapter assessment (see teacher for specifics) for each chapter in the unit (or an applicable assignment as designated by the teacher).

o Step two – the student must bring the completed chapter assessments with them to one of the two reassessment tutoring/review sessions, 7:30-8:10am or 3:35-4:15pm, offered for that particular unit by Mr. Robinson.

 If ALL chapter assessments are not completed at the time of the review session, the reassessment will NOT be allowed.

 These dates can be found on the teacher’s blog.

 Student must stay and participate for entire review session.

o Step three – the student will be reassessed the day following the review session, again either in the morning or afternoon.

• The higher of the two scores will be counted, and the maximum grade that can be earned is a 75%.

Dates for remediation/retesting will be posted in the room prior to each unit test--preferably a week in advance, when possible.



• **Remediation Assignment is subject to change depending on student needs. **