Advanced Placement Government and Macroeconomics



Mr. Eric Krause Coral Reef Senior High School ekrause1@ 2019-2020

Advanced Placement US Government and Politics

Advanced Placement Macroeconomics Syllabus

“All who have meditated on the art of governing mankind have been convinced that the fate of empires depends on the education of youth.” Aristotle

“There can be no real individual freedom in the presence of economic insecurity”

Chester Bowles (1901-1986)

Course Description- US Government and Politics

The AP U.S. Government and Politics course is designed to provide a traditional, college level course and will give students an analytical perspective on government and politics in the United States. This course will emulate the academic rigor of a college-level course, while including the study of both the general concepts used to interpret U.S. politics and the analysis of specific examples. Throughout this course, students will examine and analyze the Constitution of the United States, including federalism, political parties and the behavior of citizens, interest groups, and the mass media, as well as gaining a familiarity with the institutions, processes, beliefs, and policies that constitute U.S. politics. Students will use higher order thinking skills to formulate solid opinions and interpret the various trends throughout politics and our society, and the importance of participation in local, state, and national government. Upon completion of this course, it is expected that students will take the Advanced Placement examination.

Course Description- Macroeconomics

Macroeconomics is the study of the business cycle, productivity, national prosperity, unemployment, price levels, and policies which attempt to control the interconnected economy. This subject uses various models to explain and describe how the economy works as a system. The study of economics is a useful tool to aid in student understanding of wages and personal finance, government policies on the economy, and the increasingly interdependent world of international finance and trade. The short-term goal of this course is to aid student understanding of those concepts tested in the AP Exam in Macroeconomics. Taking the AP Macroeconomics Exam and other AP exams can translate into financial savings on post-secondary education. The vast majority of colleges and universities in the US and many outside the US, grant either academic credit, advanced placement, or both, to incoming students with qualifying AP grades.

Course Requirements

1. Students are required to attend class prepared to participate in discussions. The course is discussion-based and is designed to promote analytical study of issues. This will require extra effort on the student’s part to complete out of class reading and class assignments. AP courses tend to require more reading than most.

2. Keep a notebook containing class notes, study questions, and handouts.

3. Turn in all assignments on the due date. Failure to do so will result in a letter grade deduction per day the assignment is late.

Skill Requirements:

Upon completion of the AP Macroeconomics course, students will have acquired the following skills:

1. Understanding and manipulating technical information, graphs and charts

2. Examining major issues affecting world economies

3. Applying theoretical concepts to real-world situations

4. Analyzing economic problems and communicating results, graphically, verbally, and in writing.

5. Proposing and assessing solutions to economic issues

Attendance

Attendance is very important to successful completion of the course. Students who miss class often will quickly jeopardize chances for both good grades in the course and successful AP Exam grades. Students should make a sincere commitment to be in class. Attendance is one of the items that a teacher is legally responsible for, so cutting or skipping while you are under my care is strictly enforced and will result in a referral immediately the next day.

Evaluation

Academic Grades issued will be based on the following scale:

Work = Frequency = Weighting

Classwork Given as necessary 1 Grade

Homework Every day 1 Grade

Quizzes Appx. 1/week 1-2 Grades

Tests Appx. 1/ Topic 4 grades

Special Projects Appx. 1-2/year 5- 6 grades

Mid-Term 1/year 10% of Final Grade

Final 1/year 10% of Final Grade

Grading Scale

A – 100% to 90% 4.00 to 3.50

B – 89% to 80% 3.49 to 2.50

C – 79% to 70% 2.49 to 1.50

D – 69% to 60% 1.49 to 1.00

F – Below 60% below 1.00

Grading Procedures

1. Work not turned in will be given a zero in the gradebook and also impacts the effort grade. (Potential Senoritis Victims please pay attention)

2. If a student is absent, it is his/her responsibility to obtain the work missed and consult with the teacher regarding the due date of the missed assignment.

3. Unsatisfactory absences over the permitted amount (1 credit classes=10/year; .5 credit classes=5/year) will result in the student receiving a NC grade. I held up credits of 4 seniors last year, so pay attention to this part!

4. One letter grade will be deducted for each day an assignment is late.

5. Note that the Grading scale is subject to change pending a school board ruling on the application of plusses and minuses.

Effort Grade:

A student’s effort grade will be based on the following: absences, tardiness, preparation for class, efficient use of class time, and making up work missed work.

Conduct Grade:

Adhere to the classroom rules of conduct at all times. Failure to do so will result in a lower conduct grade.

Additional Testing Requirements

Note that all chapter tests will contain an AP Essay or essay of equivalent difficulty. This essay will require the student to include a correct analysis of information regarding the structure and nature of the US Government, or correct interpretation of charts and data regarding political trends and voting trends in the United States. These essays are necessary as they comprise 50% of the AP US Government and Politics exam grade. These problems will require the student to emphasize the line of reasoning, facts, and logic to receive full credit.

Expectations for student behavior

1. Follow instructions the first time they are given. Insubordination, defiance, disrupting the class, or failure to comply with instructions is not acceptable.

2. Unless instructed, remain in your assigned seat at all times. If you need to do leave this seat for some reason, ask for permission.

3. Please finish all food and drinks during lunch, not in the classroom.

4. Stay on task at all times. If you finish the current task early, you are to find something productive to work on while the class catches up, or until the exercise is completed. (see rules 1 and 6)

5. Please refrain from talking while the instructor is talking or while a fellow student is trying to concentrate on work.

6. It is expected that grooming and sleeping is to be done at home or on your own time, not in class

7. Dishonesty or cheating will result in an automatic zero on an assignment.

8. Defacing, breaking, or stealing school equipment will result in a fine for the property or a referral to school administrators for disciplinary action.

9. Please do not use vulgar language or profanity. This will result in a referral as you are disturbing the learning environment of the class.

10. I have a Bring Your Own Device policy as does Coral Reef. DEVICES ARE TO BE USED FOR CLASS PURPOSES ONLY! If a student is caught using his cell phone/ tablet/watch for other classes and or non academic purposes, a referral will be written to the administration as the student is in defiance of school authority. I will review this policy on day one of every class as well. Please be mindful of this policy as it is ZERO TOLERANCE . (Note to parents: Please do not call or text your child during school hours as this sends a mixed message regarding this rule and will only result in wasted time for you and your child. If you must reach your child immediately, please contact the school office.)

All other school expectations outlined in the student handbook apply.

All other school expectations outlined in the student handbook apply.

Procedures for non-instructional routines

1. Instructions will be given at the beginning of class daily.

2. Sharpen pencils at the beginning of class or after initial instruction.

3. Attendance will be checked daily.

4. Students must have a pass from the teacher to leave class. One person at a time is permitted.

5. The school tardy policy will be followed.

6. During fire drills, hurricane/tornado drills, bomb threats, or school lock-down, students will follow the school procedures accordingly and adhere to the instructions given by the teacher. (as outlined in the handbook).

7. Work areas should be left neat and clean.

8. Excessive restroom usage, or excessive time in the restroom will be considered skipping and result in a referral.

9. If a substitute is instructing all assignment grades and class penalties will be doubled. No late assignments will be accepted from anyone who did not have an excused absence from school (I went to Mr. Blah’s room is not acceptable- only an excused absence or pre-approved school function is acceptable in this case.)

Text:

Patterson, Thomas E. The American Democracy. 10th ed. New York: McGraw Hill,

2011.

Web Resources-Government

CNN’s Political Website



NY Times Political Section



The Economist Online Magazine



C-Span



Republican Homepage



Democrat Homepage



Federal Information Center

.gov

Official Government Website



Supreme Court Cases



Supreme Court Homepage



Supplemental Reading Materials:

Newspapers and Magazines:

Economist

New York Times

Time Magazine

Web Resources -Economics

National Council on Economics Education



Economics University



Freakonomics Homepage



Course Outline-Government

I. WHAT ARE THE FOUNDATIONS OF THE U.S. GOVERNMENT AND CONSTITUTION?

Course Time=Approximately Two Weeks

Topics Covered

1. Shortcomings of the Articles of Confederation

2. Goals of the Constitutional Convention

3. Differentiate between the Federalists and Anti-Federalists

4. Parliamentary system of government versus Presidential Republic

5. Various forms of government in the world

6. Examine the political philosophers that influenced the framers of our government

7. Federalism

8. Differentiate between cooperative and dual federalism

Corresponding Chapters in Wilson text:

Chapter 2: The Constitution

Chapter 3: Federalism

Major Assignment-Primary Source Material

Students are to break up into groups of four and are assigned two major Federalist or Anti-Federalist papers. They will then read the papers individually and put together a presentation to be given in front of the class teaching each other the defining points of their assigned Federalist papers. Federalist papers to be covered: 47, 48, 51, 16, 17, 10, 44, 45, 70, 53, 56, 57, 58, 62, 63, 78

Major Assignment-Constitution

Constitutional Scavenger Hunt- Students are to look up the correct Article, Section and Clause of the US Constitution when given various scenarios, facts and rights. Students may also have to give an explanation regarding the specific scenario based on their reading of the constitution Example-

The Republican candidate for president wins the election but dies of a heart attack three days before inauguration day. Who becomes president? Why?

Answer Amendment 20 Section 3- If, at the time fixed for the beginning of the term of the President, the President elect shall have died, the Vice President elect shall become President

II. PUBLIC POLICY, POLITICAL BELIEFS AND BEHAVIORS OF INDIVIDUALS

Course Time=Approximately Two Weeks

Topics Covered:

1. Direct versus Representative Democracy

2. Theories of power distribution in a democracy

3. Examine who governs and to what ends

4. Decision making matrix

5. Differentiate between Majoritarian politics, Interest Group politics, Client Politics, and Entrepreneurial Politics

6. How business regulation relates to the decision making matrix

7. American political culture versus other nations

8. Describe the role of religion in American politics

9. Political Efficacy

Corresponding Chapters in Wilson text:

Chapter 1 : The Study of American Government

Chapter 15: The Policy Making Process

Chapter 4: American Political Culture

Chapter 22: Who Governs, To What Ends?

III. MASS MEDIA, POLITICAL PARTIES, INTERST GROUPS AND ELECTIONS

Course Time=Approximately Two Weeks

Topics Covered:

1. Political Socialization

2. Political divisions in society by class, race, religion, and region

3. Political Ideology- Examine the differences between liberalism and conservatism

4. Voting behaviors

5. Voter turnout and other forms of political participation

6. Purpose of political parties

7. History of the political party and party structure

8. Minor parties and why America has a two-party system

9. Party conventions and nominating a candidate

10. Presidential campaigning, versus congressional campaigning

11. Describe how primaries differ from general elections

12. Various sources of campaign funding and campaign finance rules

13. Purpose and history of interest groups

14. Examine different interest groups and why citizens join them

15. Discuss how interest groups relate to various social movements in history

16. Sources of funding for interest groups

17. Tactics interest groups use

18. History of the mass-media as it relates to politics

19. Rules governing the mass-media and its coverage of politics

20. Discuss the effects the mass media has on politics

21. Leaks, bias, sensationalism and other problems with the mass media

Corresponding Chapters in Wilson text:

Chapter 5: Public Opinion

Chapter 6: Political Participation

Chapter 7: Political Parties

Chapter 8: Elections and Campaigns

Chapter 9: Interest Groups

Chapter 10: The Media

IV. THE CONGRESS, THE PRESIDENCY, THE BUREAUCRACY, THE FEDERAL COURTS: INSTITUTIONS AND POLICY PROCESS

Course Time=Approximately Eight Weeks

A. THE CONGRESS

1. Congress versus parliament

2. Examine the makeup of congress by race, gender, and party

3. Various ways a member represents his/ her constituents

4. Parties and Caucuses

5. Committees

6. Discuss how a bill becomes a law

7. Rules of the Senate and the House

8. Ethics reform

Corresponding Chapters in Wilson text:

Chapter 11: Congress

B. THE PRESIDENCY

1. Presidential systems versus Prime Ministers

2. Divided government and gridlock

3. Presidential powers

4. White house staff and the executive office

5. The Cabinet

6. Discuss Presidential appointments

7. Examine the various audiences that the President speaks to during speeches

8. Examine Presidential approval ratings

9. Veto power

10. Presidential transition and Impeachment

11. Examine Presidential power over time

Corresponding Chapters in Wilson text:

Chapter 12: The Presidency

C. THE BUREAUCRACY

1. Discuss how the American bureaucracy differs from others

2. History and growth of the bureaucracy

3. Congressional oversight of the bureaucracy

4. Efforts to reform the bureaucracy

5. Discuss Iron Triangles, what they are and how they work

6. Power of the bureaucracy

Corresponding Chapters in Wilson text:

Chapter 13: The Bureaucracy

D. THE COURTS

1. Discuss the organization of the Federal Court system

2. Examine the appointment process and whether the courts are non-partisan

3. Judicial restraint versus “Judicial Activism”

4. Discuss the limits of public influence of the court system

5. Policy making and the courts

Corresponding Chapters in Wilson text:

Chapter 14: The Judiciary

Major Assignment:

Case Law- The American legal system is based on precedent, as such students should

know what cases established the rights we have today. Students are to look up 55 of the

most important cases in US legal history. The cases established precedent in the

following areas: free speech, right to privacy, religious freedom, due process, free

speech, religion and the state, equal protection, federalism, checks and balances, and civil

rights. Students are to research the cases and for each provide a brief history/background

and the result of the decision on US jurisprudence.

V. CIVIL LIBERTIES & CIVIL RIGHTS Course Time=Approximately Two Weeks

1. Civil liberties protected in the Bill of Rights

2. Freedom of speech versus national security

3. Libel, Obscenity, and Symbolic Speech

4. Define “Person” with regard to speech

5. Examine the Establishment Clause

6. Due-Process and Crime

7. “Separate but Equal” and the Courts

8. Affirmative Action

9. Women and Equal Rights

Corresponding Chapters in Wilson text:

Chapter 18: Civil Liberties

Chapter 19: Civil Rights

End Government

Text: Economics

McConnell, Campbell R., and Brue, Stanley L. Economics: Principles, Problems and Policies.

16th ed. New York: McGraw Hill, 2005.

Course Outline-Economics

Unit 1 Introduction to Economics (2 weeks)

Content:

A. Economic Way of Thinking

B. Scarcity Needs and Wants

C. Opportunity Costs and Tradeoffs

D. Production Possibilities Curve

E. Economic Systems

F. Specialization and Comparative Advantage

G. The Basis for International Trade

H. Absolute advantage

I. Marginal Benefits and Costs

J. Basic Economic Questions

K. Define Supply and Demand

L. Determinants of Supply and Demand

M. Equilibrium Price and Quantity

Chapter 37: International Trade: Comparative Advantage

and Protectionism

A. The Basis for Economic Trade

B. Comparative Advantage: Graphical Analysis

C. Supply and Demand Analysis of Exports and Imports

D. Trade Barriers

E. The Case for Protection

Unit 2 Measurement of Economic Performance (2 weeks)

A. Gross National Product

B. Gross Domestic Product and National Income Concepts

C. Real GDP versus Nominal GDP

D. Expenditures Approach to Calculate GDP

E. C+I+G+(x-m)

F. Income Approach of Calculating GDP

G. Inflation, Deflation and Indices

H. Unemployment

Major Assignment: Inflation: This assignment with teach students how Inflation, Prices, Wages, and the CPI are all interrelated. Students are to look up the average wages of a career they are interested in. They are then going to look up the average wages 5 years ago, 10 years ago, 15 years ago and 20 years ago. The students are to calculate the increase in nominal wages, and look up CPI data for the past 20 years with which they will calculate the real wage increase in their selected career. The students are then to write a one page response on their findings including a comparison inflation rates with wage growth in the selected career.

Corresponding Assignments

Advanced Placement Macroeconomics Workbook:

Various

Unit 3 National Income and Price Determination:

Aggregate Supply and Demand (4 weeks)

A. Aggregate Supply

B. Short Run and Long Run Analysis

C. Sticky vs. Flexible Wages and Prices

D. Supply- Side Policies

E. Aggregate Demand without Money

F. Circular Flow

G. Components of Aggregate Demand

H. Multiplier

I. Fiscal Policy

Chapter 16: Extending Analysis of Aggregate Supply

A. From Short Run to Long Run

B. Applying the Extended AD-AS Model

C. The Inflation Unemployment Relationship

D. The Long Run Phillips Curve

Taxation and Aggregate Supply

Corresponding Assignments

Advanced Placement Macroeconomics Workbook:

Various Assignments

Unit 4 Monetary Policy and the US Financial System

(3 weeks)

A. Money and Banking

B. Definition of Money and its Creation

C. Tools of the Federal Reserve

D. Monetary Policy and Aggregate Demand

E. Determinants of Demand for Money

F. Factors Affecting Interest Rates

G. Money Market

Chapter 15: Monetary Policy

A. Consolidated Balance Sheet of the Federal Reserve

B. Tools of Monetary Policy

C. Monetary Policy, Real GDP and the Price Level

D. Monetary Policy in Action

Unit 5 Fiscal & Monetary Policy (3 weeks)

A. Using Fiscal and Monetary Policy

B. Taxation and Fiscal Policy

C. Taxation and Productivity

D. Interaction of Fiscal & Monetary Policy

E. Monetarist/Keynesian

F. Laissez Faire Economics versus the need for Regulation

G. Budget Deficits and National Debt

H. How Policies Influence Interest Rates

I. How Policies Influence Inflation

J. Aggregate Supply Curve Short Run versus Long Run

K. Impacts of Fiscal and Monetary Policies

L. Supply Shocks

M. Inflation-Unemployment Tradeoff and the Phillips Curve

N. Inflationary Expectations

Chapter 10: Aggregate Expenditures

A. Consumption and Investment Schedules

B. Equilibrium GDP: C+I=GDP

C. Other Features of Equilibrium GDP

D. Changes in Equilibrium GDP and the Multiplier

E. Adding International Trade

F. Adding the Public Sector

G. Equilibrium versus Full-Employment GDP

H. Limitations of the Model

Unit 6 Economic Growth (1 Week)

A. Economic Growth

B. Distribution of Income

Unit 7 International Economics (2 weeks)

A. Exchange Rates: Balance of Payments

B. International Trade; Barriers to Trade

C. International Payments System

D. Impact of Domestic Policies on Trade

Chapter 37: International Trade

A. The Economic Basis for Trade

B. Comparative Advantage: Graphical Analysis

C. Supply and Demand Analysis of Exports and Imports

D. Trade Barriers: Tariffs and Quotas

The Case for Protectionism

Major Assignment: International Trade and Wages: Students are to read the article “More Pain than Gain” from The Economist and write a paper giving their economic analysis on the issue of Offshoring and Protectionism. The analysis should include a discussion of the following topics- “white collar” versus “blue collar” jobs, wage variances between countries, adjusting wages to account for cost of living, marginal analysis- or cost/ benefit analysis, international trade, comparative advantage, absolute advantage, standard of living, production possibilities curve and it’s relationship to international trade.

Final Exam-Good Luck

5 Important notes: (Please read before signing!)

1. We are practicing all year for students to have a chance to pass the Advanced Placement test. If a proctor reports to me that a student puts their head down without making a legitimate attempt on any section of this exam this is treated as the most important assignment of the year and will affect their ACADEMIC grade. It is grounds for a GRADE OVERRIDE to an F for that 9 weeks regardless of where that student currently stands academically. Depending on the earlier grade this could have graduation implications.

2. During the review month right before the AP exams there will be multiple test weight assignments in any given week. This has the potential to impact a student’s grade significantly, both positively and negatively, as the tests are geared toward a student’s ability to get a 3 on the AP exam. As we will be reviewing for 2 AP tests, any test given whether Government or Macroeconomics will count toward their current semester grade regardless of the subject the student is currently in. . Note that if a student is not able to demonstrate proficiency on these exams they constitute a significant portion of the student’s academic grade and could impact graduation.

3. Essays and free response questions are a major component of the AP exam. One of the best practices given by the college board is for students to exchange papers and grade each other so they are prepared for the procedures that the college board uses when grading their test at the end of the year. This will increase the likelihood of them passing the exam. I use this strategy extensively in my class, however if a student ever disputes the grade they received they can appeal to me and I will reexamine the paper and revise the grade up or down accordingly.

4. As a former coach, I realize that extracurricular activities and academy activities are important. However, your PRIMARY responsibility is to be in class at all times. If there is a school approved field trip and we get an email from activities saying to release you, you must go. PLEASE do not ask to be released for anything other than an official school administration (not teacher) sanctioned activity for which your sponsor has submitted the proper paperwork. “my sponsor says we need to practice because such and such activity is coming up” or “I’m in X club and I have to leave early to set up for blah” is unacceptable. IF YOU ARE ABSENT FROM CLASS WITHOUT PRIOR PERMISSION FROM ME, YOU WILL BE GIVEN A REFERRAL.

5. Given that we teach two courses for two AP exams, and it is challenging to finish content instruction before the tests, at the instructors discretion we may begin a course early or give assessments for AP Econ during the end of AP Government and vice versa- (see #2) Please take note of this now as it could impact a student’s academic grade. This is done to ensure we have enough time to cover content and review content at the end of the course to maximize your ability to pass both tests.

AP US Government and Politics Exam- Monday May 4th 2020 8 am

AP Macroeconomics Exam- Wed May 14th 2020 12 noon

*This Syllabus is subject to change*

*Your signature indicates that you have reviewed the Syllabus, classroom policies and procedures and the POINTS SYSTEM*

Students Name- Print __________________________

Students Signature ____________________________

Parent/Guardian Name _________________________

Parent/Guardian Signature_______________________

Testing Grade override policy.  

All,

In an effort to allow each student every opportunity to demonstrate their knowledge, we will be immediately instituting an AP testing override policy.    This can possibly apply to any student who gets a grade that did not accurately reflect their ability on the test based upon the results of the AP exam.  This policy will apply to all students in every grade in my class.   Note- This can only help you-  The opposite is not true where a student comes in with an A and fails the AP test-as long as they put in a legitimate effort.  (As per my syllabus, a students can be failed for the 9 weeks regardless of grade if they fall asleep without putting forth a legitimate effort on the exam)

 

The policy is as follows. 

Student who has a B and gets a 5 can be overridden to an A

Student who has a C and gets a 3 or 4 can be overridden to a B  if they get a  5 to an A

Student who has a D or an F and gets a 3 can be overridden to a C

                                                                                4  can be overridden to a B

                                                                                5 can be overridden to an A.

 

I am excited about this new policy as it will provide an incentive for students to work and study all the way through the test regardless of academic standing, and enables those students who possibly slacked off at any point during the year to recover academically through hard work and effort.  I think it also perfectly aligns all parties (school, parent, teacher, and student) to pursue the same ultimate goal, which is to pass the advanced placement tests and receive college credit.

 Thank you very much for reading this addendum to the syllabus.

 

Parent __________________________                            

 Student ______________________ Date____________

Parent/Guardian email (if applicable)_______________________

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Civil Liberties Websites





arts.

Civil Rights Websites











Public Opinion Websites







Interest Groups and the Policy Process









The Senate



The House



The President



The Federal Reserve



National Economic Council



CNN Finance Homepage



Chapter 1: The Nature and Method of Economics

A. Economic Perspective

B. Why Study Economics

C. Economic Methodology

D. Macroeconomics vs. Microeconomics

E. Pitfalls to sound reasoning

Chapter 2: The Economizing Problem

A. Foundation of Economics

B. Economics: Employment and Efficiency

C. Unemployment, Growth, and the Future

D. Consider This

E. Economic Systems

F. The Circular Flow Model

Chapter 3: Understanding Individual Markets: Demand and Supply

A. Markets

B. Demand

C. Supply

D. Supply and Demand: Market Equilibrium

E. Government-Set Prices

Corresponding Assignments

Advanced Placement Macroeconomics Workbook:

Various assignments

Chapter 7: Measuring Domestic Output, National Income and Price Level

A. Assessing the Economy’s Performance

B. Gross Domestic Product

C. The Expenditures Approach

D. The Income Approach

E. Other National Accounts

Chapter 8: Macroeconomic Instability: Unemployment and Inflation

A. Economic Growth

B. The Business Cycle

C. Unemployment : Various Categories of Unemployment

D. Inflation and Deflation

E. Redistribution Effects of Inflation

F. Effects of Inflation on Output or GDP

Chapter 9: Basic Macroeconomic Relationships

A. The Income- Consumption and Income-Saving Relationships

B. The Real Interest-Rate-Investment Relationship

C. The Multiplier Effect

Chapter 11: Aggregate Demand and Aggregate Supply

A. Aggregate Demand

B. Aggregate Supply

C. Equilibrium and Changes in Equilibrium

Chapter 12: Fiscal Policy

A. Legislative Mandates

B. Fiscal Policy and the AD-AS Model

C. Built in Stability

D. Evaluating Fiscal Policy

E. Problems, Criticisms, and Complications

Chapter 13: Money and Banking and Monetary Policy

A. The Functions of Money

B. The Supply of Money

C. What “Backs” the Money Supply

D. The Demand for Money

E. The Money Market

F. The Federal Reserve and the Banking System

G. Recent Developments in Money and Banking

Chapter 14: How Banks and Thrifts Create Money

A. The Balance Sheet of a Commercial Bank

B. A Single Commercial Bank

C. The Banking System: Multiple Deposit Expansion

Chapter 18: Deficits, Surpluses and the Public Debt

A. Deficits, Surpluses, and Debt: Definitions

B. Budget Philosophies

C. The Public Debt: Facts and Figures

D. False Concerns

E. Substantive Issues

F. Deficits and Surpluses

Chapter 16: Extending Analysis of Aggregate Supply

A. From Short Run to Long Run

B. Applying the Extended AD-AS Model

C. The Inflation Unemployment Relationship

D. The Long Run Phillips Curve

E. Taxation and Aggregate Supply

Chapter 19: Disputes over Macro Theory and Policy

A. Classical Economics and Keynes

B. What Causes Macro Instability?

C. Does the Economy “Self-Correct”?

D. Rules or Discretion?

Chapter 17: Economic Growth and the New Economy

A. Ingredients of Growth

B. Production Possibilities Analysis

C. US Economic Growth Rates

Chapter 38: Exchange Rates, Balance of Payments, & Trade Deficits

A. Financing International Trade

B. The Balance of Payments

C. Flexible Exchange Rates

D. Fixed Exchange Rates

E. International Exchange Rate Systems

F. Recent US Trade Deficits

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