AP MACROECONOMICS



Course Syllabus: AP Macroeconomics

Mr. Eagan Rm. Heritage 213

Phone #951-677-0568 ext. #6213

Email: seagan@murrieta.k12.ca.us

I. COURSE DESCRIPTION

The purpose of a course in AP Macroeconomics is to give students a thorough understanding of the principles of economics that apply to system as a whole. Such a course places particular emphasis on the study of the national income and price determination, and also develops students’ familiarity with economic performance measures, economic growth, and international economics.

THE COURSE GOALS:

a. To introduce students to the field of macroeconomics.

b. To teach basic economic concepts and analytical skills

c. To enable students to score well on the AP macroeconomics.

An AP macroeconomics course is challenging and stimulating, and compared to a regular economics course, takes more time and requires more homework.

II. TEXTBOOK

McConnell, Brue, and Flynn. Economics, 19th edition, McGraw-Hill/Irwin, 2012

III. COURSE OBJECTIVES

After completing AP Macroeconomics course, students should be able to do all of the following:

1. Define and understand the key economic terms;.

2. Use the graphical and mathematical tools of Macroeconomics theory as demonstrated in class, in the text, and

in homework problems;

3. Explain in detail how the basic measures of economic performance are calculated and the significance of changes in these measures;

4. Explain in details the money creation process and the working of our financial system;

5. Use Macroeconomics models presented in class and the text to analyze the various fiscal and monetary policies and to determine their impacts on the measures of economic performance.

IV. Course Outline

Unit 1: Basic Economic Concepts (Chapters 1, 2 & 37)

1. Define basic key Macroeconomic terms

2. Scarcity, opportunity cost, circular flow model

3. Production possibilities curves and law of increasing costs

2. Comparative and Absolute Advantage.

Unit 2: Supply and Demand (Chapters 3 & 4)

1. Concepts of demand including the law of demand and the factors that shift the demand schedule and curve.

2. Concepts of supply including the law of supply and the factors that shift the supply schedule.

3. Demand and supply together to determine equilibrium price and quantity.

4. A variety of results given different elasticities of demand and supply curves.

Unit 3 Measuring Economic Performance (Chapter 23 to 26)

1. Macroeconomics and the main components of the economy and their interaction.

2. Measuring key macroeconomic variables including GDP and its components

3. Compare nominal versus real GDP

4. A key Macroeconomic goal in looking at the effects of inflation and unemployment.

5. Employment, Employment and labor-force participation

6. Business Cycle and Concepts about Economic Growth, Inflation and unemployment

Part 4: Money, Monetary Policy and Economic Stability (Chapters 31 to 33)

1. The Properties of Money; the Functions of money and the Definition of Money.

2. The Relationship between the Money Supply and Gross Domestic Product

3. Financial Institution’s Ability to create Money through Loans to Businesses

And Consumers

4. The Federal Reserve System and its tools to control the money supply

5. The money market and monetary policy

6. Real and nominal interest rates and the effects of monetary policy in the short run and long run

Unit 5: Aggregate Demand and Aggregate Supply: Fluctuations in Output and Prices (Chapters 28 to 30)

1. A simple Keynesian model of the economy

2. Investment: the expenditures of the business sector

3. Aggregate demand

4. Basic determinants of short-run aggregate supply

5. Aggregate demands of short-run aggregate supply; this model and the simple Keynesian model.

6. Many aspects of the aggregate demand and aggregate supply

7. The long-run aggregate supply curve and the economy’s production possibilities curve

8. Stabilization policy through fiscal policy

Unit 6: Monetary and Fiscal policy Combinations: Stabilization policy in the Real World (Chapter 35 & 36)

1. The national debt and items associated with policy making, as well as The Crowding-out effect

2. The Interaction of monetary and Fiscal Policies

3. The Short -run and Long -Run Phillips Curve and how it relates the Philips Curve to the Aggregate Demand and Aggregate Supply Model

4. The Source of Economic Growth and the Contributions of Monetary and Fiscal Policies to Long-Run Economic Growth

5. The Reason why there are differences among Economists and the Policies they advocate

Part 7: International Economics (Chapters 37 to 39)

1. Use Comparative Advantage and Production Possibilities to find the Actual Gains from Trade

2. The Effects of Government Interactive on International Trade

3. The Basics of International Finance: The Balance of Payments and Foreign Exchange Markets

4. The Interaction of Domestic Stabilization Policy and International Trade and Finance.

IV. HOMEWORK AND IN-CLASS EXPECTATIONS

In order to prepare adequately for the Advanced Placement Macroeconomics Exam in May, you must spend considerable time preparing for class. The text must be read and problems completed in a timely fashion. Assignment must be done and questions formulated before coming to class.

Attendance / Promptness

Because each class begins with a warm-up activity, students are expected to be in their seats prior to the bell, and begin the warm-up immediately. In addition to the school’s policies regarding tardiness, students who are late, and do not have an excused note, will lose any points associated with a warm-up activity or quiz.

 

Make-up Work

•  Late assignments (unless the student has an excused absence, see next paragraph) may be turned in within one class meeting of the due date for half the points that would have been earned if the assignment would have been completed on time.  No other late work will be accepted.  This penalty will apply regardless of the reason the assignment is late.

•     If you have an excused absence, you must submit make-up work within one day of your return from the absence to avoid the late penalty.

•     Tests and quizzes may be made up only following an excused absence, and must be completed during a time designated by the teacher

Requests for work for future absences

It is solely your responsibility to obtain any work that will be missed due to a planned absence (this includes extracurricular activities).  Because of the ever-changing needs of a course such as this, I can only give one week of work in advance.  Coming to me after the fact will NOT be acceptable.  Failure to make arrangements in advance will result in your not being able to make up the work missed

Bathroom Passes

Bathroom passes will not be limited, but will be handed out at my discretion only. It is your responsibility to ask at an appropriate time (e.g. not in the middle of a class discussion) and with manners and respect. Bathroom passes will not be given the first 15 minutes of class or the last 5 minutes of class.

 

Cell Phones & Electronic Devices

There will be absolutely no cell phone usage in the classroom. All cell phones will be turned off and put away while in the classroom; cell phones will be confiscated if they are visible or are in use. If a parent needs to get in touch with a student, the parent can contact the office and a message can be delivered to the classroom. No CD players/I-Pods/electronic devices are permitted. If a student is listening to music or playing a game, the device will be confiscated. School rules display the following consequences for electronic devices: First offense—warning; Second offense—device is taken for the remainder of the day, the student may pick it up in his/her counselor’s office after school; Third offense - Saturday School, and the device will be given back to the parent; Fourth Offense- two day suspension, and the device will be given back to the parents at the end of the semester.

 

Food & Drinks

In compliance with school policy, food and drinks are not permitted in the classroom. Only bottled water that is capped will be permitted. Starbucks, sodas, and food will be properly disposed in the trashcan upon entry into the classroom.

 

Materials

• Notebook dedicated to Modern World History

• Blue or black ink pens

• College Ruled Notebook Paper

• Pencils

• A binder/folder to stay organized

 

Syllabus Changes

The teacher reserves the right to alter these policies and expectations if necessary during the course of the school year. Notification of any changes will be posted on the teacher’s website.

Classroom Guidelines

Together, we will make this class a positive learning experience!

1.        Bring all needed materials to class

2.        Be in your seat and ready to begin when the bell rings

3.        RESPECT and be polite to all people and their belongings

4.        Follow all school rules

 

Disciplinary Actions

You are all on the verge of becoming self-reliant and responsible adults. I expect you to act as such. Every student has the right to learn and every teacher has the right to teach; disrespectful/disruptive behavior will not be tolerated. If you make the choice to misbehave, then you choose to have a consequence.

• 1st offense= verbal warning

• 2nd offense= removal from class and parent phone call

• 3rd offense= referral and class suspension

• Also: DO NOT BE TARDY!!!!

Suspensions

• If you are suspended for any reason (on or off campus) you will not be allowed to make up any work for that period of time (tests & projects included).

Academic Integrity:

As a high school student you are held to a high standard of achievement and integrity.  You are expected to act as such.  Any student who plagiarizes, lies, cheats, or otherwise misuses the academic environment or other students or their work will be suspended per school district policy.  The grade for the assignment(s) or test(s) in question will be converted to an “F.” All work completed for this class is expected to be original from the student or credited to the source from which it is taken. While students may be allowed, or even encouraged, to collaborate on certain assignments, the work produced must be in the submitting student’s own words. Violations of this policy include, but are not limited to:

* Copying from another student’s paper OR knowingly allowing another student to copy from your paper

* Copying directly from the text or other printed material without citation

* Downloading and/or copying from an internet source

* Copying from another student’s paper or any other prohibited material during a test or quiz

Extra Credit/Movies

There will possibly be one extra credit assignment per semester. If it is offered you should take advantage of the opportunity. We will be watching segments from movies and TV that range from G to PG-13. Please contact me if you do not wish to have your child watch a particular movie.

Parent/guardian and Student Contact:

Please feel free to contact me at any time. My contact information is listed at the top of this document. Email is the best way to communicate with me. Keep the syllabus with you in class all year.

Name:_________________________ Period:________________________

Return this sheet so I know that you have reviewed the syllabus and understand the classroom rules and procedures. If you have any questions about the syllabus, please contact me as soon as possible.

__________________________________ ___________________________________

Student Signature Parent/Guardian Signature

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