Advanced Placement Economics



Summer/Fall Syllabus Mr. Majewski – Room C109

AP Microeconomics (pages/majewski/apmicroeconomics)

AP Economics (pages/majewski/apeconomics)

Goals:

• Develop the “economic way of thinking” to better participate in the different economic roles.

• Learn the basic language of business and be able to read and understand the business press.

• Utilize economic concepts to analyze current economic problems and issues.

• Communicate understanding of various economic issues through written and verbal presentation, plus a variety of graphical models.

• Prepare for the AP exam(s) and to continue a business education at the college level.

• Demonstrate understanding of the necessity for establishing governments and the roles, rights and responsibilities of citizenship, including avenues of participation.

Expectations of Students:

• You are here to LEARN. Everything else that we do is secondary to that goal. Behavior that distracts from achieving that goal is inefficient and will not be tolerated.

• You are expected to be in class ON TIME with required materials. This will have an impact on your quarter grades.

• You should PARTICIPATE in class discussions and CONTRIBUTE to the main class goal of learning economics; and be willing to spend the extra time necessary to meet AP course expectations.

• You should not create negative EXTERNALITIES (i.e., engage in behavior that negatively affects other people, including me).

• Show RESPECT for yourself, respect for others, respect for this class and myself, and accept responsibility for your actions.

Free Rider Course Clues:

• Come to every class!!!

• Visit course website on QUIA, which is listed above.

• GET HELP immediately if you do not understand something.

• Keep up your READING. Do not fall behind. Keep a schedule and maintain it. While reading textbook, take notes in preparation for class.

• Learn the vocabulary – economics is a new LANGUAGE.

• Maintain an ORGANIZED BINDER including unit overviews, worksheets, notes, homework, etc.

• Learning is most effective when it is done over TIME. Do not cram!!!

• Form a study group to help each other. Exchange numbers and email addresses with others in class to help communicate and SHARE IDEAS.

• DISCUSS the concepts you learn in class, this has been found to increase understanding and later recall of the information.

|Units of Study for AP Microeconomics: |Units of Study for AP Economics (Micro/Macro): |

|Basic Economic Concepts |Basic Economic Concepts |

|Investing |Consumer Choice, Taxation and Price Controls |

|Civic Participation (PIG) |Government and the Economy |

|Consumer Choice, Taxation and Price Controls |Economic Indicators, Aggregate Demand and Supply |

|Profit and Costs (Running a Business) |Financial Sector, Fiscal and Monetary Policy |

|Product Market Structures |International Trade |

|Factor Markets |Profit and Costs (Running a Business) |

|Government and the Economy |Product Market Structures |

|International Trade |Factor Market |

|AP Microeconomics review and exam |AP Economics review and exams |

|Behavioral Economics and Final Project |Behavioral Economics and Final Project |

Resources you will need for class everyday starting the 1st day of school (Thursday, September 5):

• Intellect

• A binder – I will give you many handouts with 3-hole punched.

• Writing utensil and general calculator

• Economic Notebook – This notebook will be used for you to take notes on chapter reading, textbook work, supplementary class notes, article reading responses, and “Economic Moments”.

o “Economic Moments” are an opportunity for you to observe personal and real life application of economics and then write about your observations, which will be used for class discussions throughout the school year. This journal will be collected periodically and is separate from your summer assignment. Please number your journal entries, date them and underline key terms. (Minimum requirement: Two entries per month (one entry by the 15th and one entry by the end of the month) starting on Thursday, September 5)

• Krugman’s Economics for AP by Ray and Anderson will be an electronic version and assigned on the first day of school.

• Optional Resources:

o AP Microeconomics: AP Microeconomics: “Student” Resource Manual (4th Edition) by Stone

o AP Economics: AP Macroeconomics: “Student” Resource Manual (4th Edition) by Ray and AP Microeconomics: “Student” Resource Manual (4th Edition) by Stone)

▪ The workbook(s) indicated above can be purchased online () for an est. $30 and I recommend you purchase over the summer. The activity books are a great resource in preparation for the AP Exams. There will be opportunities to use these activity books throughout the entire year. However, you are not required to purchase these resource manuals.

Student Evaluation:

• All assignments to be handed in for a grade must include your name or no credit will be given. Late work will be accepted unless addressed in class. There will be a reduction in possible points earned for late work, at my discretion.

• 1st and 2nd Quarter Grades only

o Major Assessments 70%

o Quizzes/homework 15%

o Participation/Behavior 15%

• Final Grade

o Four quarter grades and Mid-term (Practice AP) exam divided equally

o There is NOT a Final Exam. However, there is a Final Project and will be included in your 4th quarter grade.

My Obligations to Students:

• I will do everything possible to help you LEARN ECONOMICS. You can get extra help after school most days. I will meet with students during our common free periods, if necessary. If you do not understand something, ask for extra help before major assessments.

• I will keep you INFORMED of your overall grades and major assessments/assignments on an efficient basis.

• I will treat you with RESPECT and grade you fairly. However, respect is something you can earn and lose based on your actions.

• If you have any questions, concerns, compliments, always email me at jmajewski@.

Final Thought: Remember that doing well on the AP exam and passing this class is mostly a function of EFFORT. Completing ALL homework assignments, maintaining an organized binder and participating in class will almost always ensure SUCCESS.

Please do not lose this packet and remember to bring to the 1st day of class on Thursday, September 5.

Summer Assignment ~ each task below is a major grade for Quarter 1

• Task #1: Read the following book:

o Wheelan, Charles. Naked Economics: Undressing the Dismal Science. New York: W. W. Norton Company, 2019. ISBN: 978-0-393-35649-6

▪ Please make sure you read the Fully revised and Updated version.

o Read and take notes for understanding in preparation for an in class WRITTEN TEST on Friday, Sept. 6.

o If you struggle at any time with the material, you have the following options:

▪ Email Mr. Majewski with AP Economics in subject area: jmajewski@

▪ Ask a family member, friend or bystander for help, who would be willing to act as a positive externality.

• Task #2: “Economics in Real Life” writing assignment.

o Objective: To discover and record where economics is present in your life.

o Procedure:

▪ Keep an economic journal for the summer and record anytime economics is present in your life. You must have a minimum of 5 entries and the entries should span throughout the whole summer. The entries should be typed and are separate from the “Economic Moments” you will observe and record during the year.

▪ Based on your entries, write a paper with the following theme: Where was economics a part of your life this summer? Constraints: Maximum 2 pages typed and printed on one sheet.

o Advice Tip #1: Imagine yourself talking to a relative who has never had a course in economics. The best papers are ones that would be clearly intelligible to such a person, and typically these papers do not use algebra or graphs.

o Advice Tip #2: Journal entry examples to use a reference.

▪ “The other day when I was on my way home from school and had a few hours before I had to go to school (because I now have 8th period free), I thought about going to get a pita turkey wrap form Java Jazz. But then I decided that because I have turkey and bread at home which are nearly the same quality to just go home. Why waste my money when my last pay check was terrible.” (This entry is typical for many of you right now.)

▪ “As I sit here in Jewelry class waiting for my clay to dry, there is a negative externality occurring. The girls at the next table over are gossiping and talking smack, and its driving me insane. They are allowed to have their own opinions, but they are voicing them so loudly and are kind of being jerks. To fix externality problems (negative in this case), supply is shifted to the left (social cost is finally considered). Thus, this problem would be fixed by removing them from the class or making them pay (corrective tax) if they want to speak.” (This entry is more advanced and will be the level of quality for all of you by the end of the next school year.)

o Advice Tip #3: This written assignment will be graded based on the following criteria: Originality, Creativity, Relevancy, Efficiency, and Quality. Journal Entries are 30%, Paper is 70% of grade.

o Advice Tip #4: If you use any information from other sources, please use a correct citation at the end of your response.

o Advice Tip #5: The paper and journal entries stapled together are due Thursday, Sept. 5 by 2:30 pm. These journal entries are separate from “Economic Moments” and should not be written in economic notebook.

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