AP Macroeconomics

A 12th Grade Core Course: AP Macroeconomics*

Teacher: Mr. McDaniels; E-mail: jmcdaniels@mvusd.net

Course Description

                The AP Economics course is designed to give students a thorough understanding of the principles of economics.  My course places particular emphasis on the study of national income, price level determination, the financial sector, stabilization policies, economic growth including GDP, and international economics. In addition, we will be covering in depth the performance measures used to evaluate the economy and apply that knowledge to analyze our current financial climate.

Teacher Expectations

            I expect all of my students to be successful and I will do all I can to insure this happens. Students need to arrive to class on time each day, with the proper materials including books, writing utensils, and paper.

  • Students must be on time every day this is a zero period class and if you’re late or absent you fall behind immediately
  • Listen carefully to lecture and ask questions. This is a very tough class and students have absolutely no background in economics so its very important to pay attention in class
  • Complete assignments- they are designed to further acquaint you with the material away from class.
  • Read assigned pages to keep you up on lecture. If you fall behind in your reading you will be lost in class
  • ASK QUESTIONS economics is a difficult subject to understand for most people so don’t be afraid to ask a question- chances are there are 10 other students who are thinking of asking the same question!

Course Synopsis

The pace of my classes depends on the aptitude of my students. If I find a class is having difficulty grasping the concepts I slow the pace to allow the students time to fully understand the material. It is important to me that my students leave my class with a firm grip on complex economic concepts which should provide a solid foundation of knowledge they will feel confident entering college with.

Course Outline

Week 1-2 – Basic Economic Concepts:

Scarcity, choice and opportunity costs

Demand, supply and market equilibrium

Production possibilities curve

Comparative advantage, specialization and exchange

Macroeconomic issues, business cycle, unemployment, inflation, growth

Reading: Chapters 1 – 6 Foundations of Economics

Week 3-6 - Measurement of Economic Performance

National income accounts

Inflation measurement and adjustment

Unemployment

Aggregate Demand

Aggregate Supply

Macroeconomic equilibrium

Chapters 7-12 Foundations of Economics

Week 7 – Unit Review and test

  • The Unit 1 Test consists of 7-10 graphs covering various concepts, 10 multiple choice questions. I give the Free Response questions as homework.

Samples

Multiple Choice

If the economy is in a recession unemployment is usually_____ which means there is_____ money floating around in the economy which drives prices______  

                 

*Note- AP Macroecon is a second-semester course. In order to earn graduation credit, students usually will take government, (not AP) 1st semester, also with Mr. Meadows.