AP® U



AP® Macroeconomics

Syllabus & Semester Plan

Mr. Nigh

Periods 2 and 5

Students constantly decry, “Why do I need to know that?” To that question, I answer, “Knowing the basics and even the intricacies of economics and macroeconomics can certainly make anyone’s life easier.” While this course will not look at the basics of balancing checkbooks, how to manage credit cards, or how to pay taxes, it does focus on how all of those tasks and events overall affect the economy and the governments associated with it.

While the fundamental goal of this course is to prepare and pass the AP® exam in the spring of this school year, a greater goal, which I hope becomes the ultimate one for each and every one of you, is to 1) gain an enjoyment for learning and deciphering economics and 2) to take that knowledge with you and apply it to both your future educational endeavors and future lives. With this in mind, one will realize that economics’s evolution is one that comes about from great economic thinkers, government officials, and even ordinary people like us. These peoples’ ideas and how they are interpreted and implemented demonstrate how economies progress, even after how an economy may have changed months or even years earlier. To witness this firsthand, during this course we will be doing more than simply looking at people, places, and events. In addition to these topics, we will look at macroeconomic themes, formulas, ideas, and mathematical tools used throughout economic history. These themes include the following: trade-offs versus opportunity costs, scarcity of resources, monetary systems, economic indicators, and governmental influence on the economy. To master these themes, we will prepare for them by participating in critical thinking activities, mastering effective writing assignments (useful for the exam and for future work endeavors), demonstrating performance based assessment, and critiquing and deducing answers to economic problems.

This course will be rigorous and challenging, but it is my upmost concern to also make it as enjoyable as possible for each and everyone in this classroom. If we all stay focused and work diligently toward our mutual goal as a class, then our success is almost undoubtedly attainable.

TEXT

McConnell, Campbell R. and Brue. Economics. (New York: McGraw-Hill).

Secondary Text

Lukes, Steven. The Curious Enlightenment of Professor Caritat. (New York: Verso Publishing, 1996).

ISBN: 1859840736

Mankiw, N. Gregory. Principles of Economics or Principles of Macroeconomics, any edition. (Mason, OH: Thomson Publishing, a division of Southwestern, N.D.).

Mateer, Dirk and Lee Coppock. Principles of Macroeconomics. (New York: W.W. Norton & Company, 2013).

ISBN: 0393935779

Morton, John S. Advanced Placement Economics – Macroeconomics: Student Activities, any edition. (New York: National Council on Economic Education, N.D.).

Sample ISBN: 1-56183-478-5

Ray, Margaret A. et al. Advanced Placement Economics – Macroeconomics: Student Resource Manual, 4th Edition. (New York: National Council for Economic Education, 2014).

ISBN: 978-156183-668-0

Krugman, Paul, et al. Krugman’s Economics for AP. (New York: Worth Publishers, 2010).

ISBN: 142925730X

Additional Readings

Dodge, Eric R. 5 Steps to a 5: AP Macroeconomics 2018. (New York: McGraw-Hill, 2017).

ISBN: 1259863867

Musgrave, PhD., Frank, et al. Barron’s AP Microeconomics/Macroeconomics, 6th Edition. (New York: Barron’s Educational Series, 2018).

ISBN: 1438010656

There will also be various articles and handouts from time to time provided by the teacher.

Course Objectives

Students will:

• Demonstrate a mastery of a broad base of economic knowledge.

• Use data and government legislation to defend and support basic arguments and positions, both original and secondary.

• Differentiate between various schools of economic thought and interpretation.

• Interpret and draw graphs from various pieces of economic data, including primary documents, cartoons, tables, surveys, pictures, electronic media, etc.

• Demonstrate an effective use of analytical skills of evaluation and explanation, cause-and-effect relationships, and compare and contrast.

• Work effectively as individuals and in groups to produce products, make presentations (both oral and visual), and solve problems.

• Hone and polish their presentation, speaking, and creativity skills.

• Prepare for and receive a grade of 3 or higher on the spring AP Macro Exam.

Curriculum Goals and Tentative Course Schedule

1A. Basics of Economics: Scarcity, Specialization, and Trade (2 weeks)

Our first week of the course will be used in going over the exam and the course layout as well as in cementing the foundations of scarcity and how it affects economics decisions both on a small and large scale.

Required Reading:

• Chapters 1-3 in McConnell and Brue

• Chapters 1-5 in Lukes

Key Discussion Topics: How scarcity affects trade-offs and opportunity costs and the difference between the two ideas. The basic economic systems, their founders, and what economic questions they answer. What factors lead to economic growth for a nation.

Major Assignments:

• Find and create a DBQ question using primary sources from news and market sources. Must have at least seven sources available.

• Making notes over the first night’s reading

1B. The Market Forces of Supply and Demand (2 weeks)

These two weeks will focus on—

a. What supply and demand are and what determinants change them.

b. What elasticity of supply and demand are and what determinants affect them.

Required Reading:

• McConnell & Brue: Chapters 4, 5, & 6

• Lukes: Chapters 6-10.

Key Discussion Topics: The role of elasticity in determining surpluses and shortages, how externalities and public goods are produced and consumed.

Major Assignments:

• First FRQ.

2. Economic Indicators and National Economic Performance (4 weeks)

These four weeks will focus on—

a. Measuring a nation’s GDP and what it includes.

b. The Business Cycle and Unemployment

c. The Consumer Price Index and Inflation

Required Reading:

• McConnell and Brue: Chapters 12, 15, 16, and 18

• Lukes: Finish

Key Discussion Topics: Biases in inflation and the impacts of GDP on economic growth.

Major Assignments:

• Second FRQ

• Business Cycle and Unemployment simulation

3. The Overall Economy and the Government (4 weeks)

These four weeks will focus on—

a. Classical Theory vs. Keynesian Theory Economics

b. Supply-side vs. Demand-Side Economics with Aggregate Demand and Supply

c. American Fiscal Policy

Required Reading:

• McConnell & Brue: Chapters 9, 11, and 17

Key Discussion Topics: Economic thinkers and their impacts on government and its policies on influencing the economy.

Major Assignments:

• 2 exams

• Paper over Lukes.

4. The Financial Sector and the Monetary System (2 weeks)

These two weeks will focus on—

a. The Federal Reserve and its influences on economic policy.

b. The Loanable Funds Market

Required Reading:

• McConnell and Brue: Chapters 13, 14, 15, and 29

Key Discussion Topics: Tight vs. open monetary policies, the organization of the Fed., the functions and characteristics of money.

Major Assignments:

• 4th FRQ

• Creation of money simulation

5. International Trade, Globalization, and Everything Else (2 weeks)

These two weeks will focus on—

a. Balance of Payments

b. Foreign Exchange Rates and Markets

c. The Influence of Poverty and the Income Gap on Trade

Required Reading:

• McConnell and Brue: Chapters 6, 37, and 38

Key Discussion Topics: Exchange Rates, Capital Flows, Trade Barriers and their impacts, Globalization.

Major Assignments:

• Final FRQ.

16. AP Exam Review (7 days)

For the review time period, students will collectively divide chapters for which to review. We will then come in the next day and discuss those chapters and then take multiple choice sample exams from previous AP tests chosen from years between 1988 and 2016. We will then grade those immediately and discuss our results. For the final ten to fifteen minutes of each class, we will collectively look at previous exam FRQ questions and come up with an outline and thesis statement for each.

17. Post-Exam Final (Capstone Paper and/or Oral Presentation)

The final two weeks of the course will be solely devoted of each student writing a five-page capstone paper over an original thesis in macroeconomics of his or her choosing. Students may also choose to present a 10-15 minutes oral presentation over a macro topic. The topic can consist of any subject of macroeconomics. Citations will use standard Chicago/Turabian style.

Course Evaluation

Students will be graded on their performance of the three following areas: daily assignments (10 percent), quizzes and project assignments (25 percent), and tests and large paper writing (65 percent). Daily assignments include but are not limited to participation, daily in-class assignments, reaction journal entries, and discussion of daily readings. Test grades include any multiple choice exam grades as well as FRQ essays. Free response question essays will be graded on the criteria of mostly and firstly content mastery and will then focus on the use of knowledgeably bringing in outside content and evidence to answer questions and support arguments, then to the formulation of the essay, and finally to grammar, spelling, and punctuation.

All procedures and weighting regarding quarter, semester, and final exam grades will be followed as prescribed by the student handbook.

All procedures regarding grade weighting and curving will be based upon pre-instated AP Macroeconomics scoring guides.

Academic Dishonesty - If I catch you cheating in any way, your assignment will be thrown away and you will be given a zero. Furthermore, if you attempt to PLAGIARIZE any assignment, then you are stealing other peoples’ ideas, and you will not only receive a zero but will also be sent to the office for a meeting with administration. This means sources must be cited CORRECTLY on all papers and projects. Note: Before you turn in the first written assignment, at the bottom of the paper write the following and write your signature. “I fully understand and will abide by Franklin Central School Corporation’s policy regarding academic dishonesty and plagiarism and fully comprehend the consequences of committing such acts.”

“I have read, understand, and hereby agree with and agree to follow the rules placed forth by both Mr. Nigh and the College Board.”

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Parent/guardian signature

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Student Signature

For any concerns, the best way to get in touch with me is through e-mail at carey.nigh@ftcsc.k12.in.us.

If there are any concerns regarding the syllabus, please write them below, and then I will try to touch base with you in the coming days. For fastest results, please include your e-mail address with this letter.

Notes:

Parents and guardians,

Please place your e-mail address, phone number, or best form of communication for contact.

Guardian e-mail address: _______________________________________________

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