L



The Bronx H.S. of Science AP Macroeconomics w/GovernmentThe purpose of Advanced Placement Macroeconomics is to provide a thorough understanding of the principles of economics that apply to an economic system as a whole. AP Macroeconomics is a course designed to impart a thorough understanding of the principles of economics in examining aggregate economic behavior. During the course you can expect to learn how the measures of economic performance, such as GDP, inflation and unemployment, are constructed and how to apply them to evaluate the macroeconomic conditions of an economy. You will also learn the basic analytical tools of macroeconomics, primarily the aggregate demand and aggregate supply model and its application in the analysis and determination of national income, as well as evaluating the effectiveness of fiscal policy and monetary policy in promoting economic growth and stability. Recognizing the global nature of economics, students will also have ample opportunities to examine the impact of international trade and international finance on national economies. Various economic schools of thought are introduced as solutions to economic problems are considered. This course culminates in a College Board sponsored exam on Thursday, May 14, 2015. (Although not required, it is my expectation that all students will take the AP Exam in May.) The successful completion of this course is a graduation requirement; you will receive HES credit in the fall and HVS credit in the spring.Course of StudyUnit I-Introduction to Economics Unit IX - Exam PrepUnit II-Supply and Demand Unit X - Personal FinanceUnit III-History, Policy and Politics of the American WelfareUnit IV-Measuring Economic Performance and GrowthUnit V-Fiscal PolicyUnit VI-Monetary Policy Unit VII-The Open Economy: International Economics Unit VIII-Macroeconomic AnalysisGradesAssessments/Research Project 60% Homework20 %Midyear/Final Exams10%Participation10 %Exams - There will be an exam for each unit studied. If you miss a unit exam, you must take a make-up exam on the day of your return. Make-up exam will only be given/credited with appropriate documentation (excused absence). You may not take a make-up during this class period. This is your responsibility; it is not my job to chase you down. Homework - At the beginning of each unit you will be given a study sheet with the reading, vocabulary and key questions. It is important that you draw upon this study sheet to reinforce what is learned in the classroom. Homework readings and assignments are an integral part of the daily classroom work. I cannot restate this point too often – timely completion of assignments is essential for mastery of this subject. Late assignments will be worth 50% of their original value and will only be accepted TWO DAYS LATE. If you are absent, it is your responsibility to hand in your homework the day you return. If you have outstanding issues, it is your responsibility to come talk to me in person.Projects - You will be assigned several projects this year. During the first semester, you will complete a research paper and present your topic to the class. Additional projects may be assigned throughout the year.Participation - It is important that all students are actively engaged in class discussions. A well-rounded student must be able to engage in meaningful dialog on complex issues. In addition, class participation is the place where I can make clear any of your questions, misinterpretations or misunderstandings. If you choose to sit quietly without engaging in class discussion your grade will suffer.Plagiarism - Your work is your work - not your neighbor’s, not your friend’s, not your brother’s, not your sister’s, not the textbook’s, nor the internet’s. Personal integrity is a highly valued commodity. Copying someone else’s work is cheating. Dishonest behavior will not be tolerated and suitable disciplinary measures will be taken to remedy the situation.Email - If you have an issue/problem, come talk to me in person. Do not email your assignments to me; it is your job to bring them to class.Summary Outline I. Basic economic concepts Scarcity: the nature of economic systemsOpportunity costs and production possibilitiesExchange, specialization and comparative advantageThe functions of any economic system (what, how, and for whom to produce)Demand, supply, and market equilibriumMacroeconomic issues: business cycle, unemployment, inflation, growthII. Measurement of economic performance and growthCircular flowNational incomeGross domestic product, gross national product, and national income conceptsInflation measurement and adjustmentprice indices, nominal versus real, and cost of inflationUnemploymentEconomic growth 1.determinants - investment in human capital, physical capital, research and development, and technologyF. Governmental BudgetingIII. Fiscal policy A. Aggregate demand 1.determinants of demand and the multiplierB. Aggregate supply determinants of supply short-run and long-run analysis, sticky versus flexible wages and pricesC . ?Macroeconomic equilibrium?1 . business cycle and economic fluctuations 2.real output and price level?3.short run versus long run IV.Financial sector and monetary policyA . Money, banking, and financial 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 money5.money demand,?money market and the equilibrium nominal interest rateB . ?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 C . ?Loanable funds market?1 . supply of and demand for loanable funds 3 . crowding out V.Stabilization PoliciesA. Fiscal-monetary mix interaction of fiscal and monetary policiesgovernment budget policiesB. Trade-offs between inflation and unemployment 1. Phillips curve?- long run versus short run, r2.role of expectationsVI. Open economy: international trade and finance A.Absolute versus Comparative AdvantageB.Balance of trade accountingC.Foreign exchangeD.Imports, exports and financial capital flowE.Relationship between international and domestic markets and effect on fiscal and monetary policy decisionsVII. Economic interpretation – how economists differThe Examination - The AP exam consists of a 70-minute multiple-choice section and a 60-minute free-response section. The multiple-choice section accounts for two-thirds of the student’s examination grade and the free-response section for the remaining one-third. Total raw scores are converted to a 5-point scale and rated as follows: 5 - Extremely Well Qualified, 4 – Well Qualified, 3 - Qualified, 2 – Possibly Qualified, 1 – No Recommendation ................
................

In order to avoid copyright disputes, this page is only a partial summary.

Google Online Preview   Download