AP MICROECONOMICS - Weebly



AP MICROECONOMICSMr. Hartman1st Semester 2017-18 email: dhartman@Description: AP Microeconomics is designed to replicate the introductory microeconomics course taught in a university setting. As such, the course requires far more effort and commitment from you than the typical high school course. The semester course gives you an understanding of the principles that drive individual decision-makers, both consumers and producers, within larger economic systems. It places an emphasis on the features and operations of product markets. It also examines factor markets and the government’s role in promoting efficiency and equity in the economy.The course will be conducted in a lecture/seminar manner supported by daily readings, current events, and student activities. Advanced Placement students pride themselves on their maturity. Each of you will need to manage yourself in a professional way. Remember, it is you who bear the responsibility for your success, so you must seek out answers to your questions.AP Microeconomics Content Areas: Basic Economic Concepts – consumer choice, opportunity cost, economic systems, circular flow (8-14% of AP Micro multiple-choice)Functions of the Product Market – supply and demand models, marginal analysis, (10-18%)Firm Production – production and cost, pricing, firm behavior and market structures (40-50%)Factor Markets – labor market, firms hiring of labor, comparative advantage (10-18%)Government and Market Failures – externalities, public goods, taxation (12-18%)Issues and Policies – agriculture, income inequality, health care, immigrationRequired Materials: McConnell, Brue and Flynn. (2015). Microeconomics. 20th Edition. McGraw-Hill.Stone. (2012). AP Microeconomics: Student Resource Manual. 4th Edition. CEE.Student ID and password to access course SharePoint siteGrading System:A = 100-90B = 89-80C = 79-70D = 69-60 F = 59 and belowThere will be four tests during the semester, each worth 100 points. Examples of other graded assignments include QOD, Student Resource Manual activities, video and article critiques, and quizzes.Expectations:1. Character Counts!SM2. Be on time and be prepared.3. Complete and turn in all assignments on time.4. Take responsibility for your attendance, behavior and performance.5. Take the AP Microeconomics exam on May 13th.Food or beverages (except bottled water) are NOT permitted in the classroom. Thank you.ADVANCED PLACEMENT MICROECONOMICSTest and Quiz Schedule – 1st Semester 2017-18Test and Quizzes:Quiz - Unit I – August 25th Test - Unit II – September 12th Test - Unit III (Ch. 9, 10, 11) – September 28th Quiz - Unit III (Monopoly, Ch. 12) – October 12th Test - Unit III (Ch. 13) – October 26th Test - Unit IV – November 9th Quiz - Unit V – November 21st Quiz - Unit VI – December 7th Unit I: Intro to Economics - Ch. 1, 2Chapter 1: Limits Alternatives and Consumer ChoiceChapter 2: The Market System and the Circular Flow QuizFriday, August 25th Unit II: Supply and Demand - Ch. 3, 6, 7Chapter 3: Demand, Supply, and Market EquilibriumChapter 6: Elasticity Chapter 7: Utility Maximization Test Tuesday, September 12th Unit III: Business and Firm Theory - Ch. 9, 10, 11, 12, 13Chapter 9: Businesses and the Coasts of ProductionChapter 10: Pure Competition in the Short RunChapter 11: Pure Competition in the Long RunChapter 12: Pure Monopoly Chapter 13: Monopolistic Competition and Oligopoly TestCh. 9, 10, 11Thursday, September 28th Quiz Ch. 12Thursday, October 12th TestCh. 13Thursday, October 26th Unit IV: Factor Markets - Ch. 14, 15, 16Chapter 14: The Demand for Resources/Capital and Labor MarketsChapter 15: Wage DeterminationChapter 16: Rent, Interest, and Profits TestThursday, November 9th Unit V: Market Failures - Ch. 4, 5 Chapter 4: Market Failures: Public Goods and ExternalitiesChapter 5: Government’s Role and Government Failure QuizTuesday, November 21st Unit VI: International Economics – Ch. 24, 25Chapter 24: International TradeChapter 25: The Balance of Payments, Exchange Rates, and Trade Deficits QuizThursday, December 7th A.P. Microeconomics Unit PlansUnit I: Intro to Economics - Ch. 1, 2Chapter 1: Limits Alternatives and Consumer ChoiceChapter 2: The Market System and the Circular Flow QuizFriday, August 25th Thu, Aug 17th Syllabus – check Splash Page?Classroom expectations, course outline, daily plannerDefine Economics and Economic Perspective Incentivesseatbelts/daycare/blood donors (moral vs economic)HW: read McConnell pgs. 4-20 for FridayFri, Aug 18th Starter: Free lunch?Nature of Economics - powerpt Scarcity and Consumer Choice – powerptComplete Stone pgs. 7-9 in class, review answersMon, Aug 21st Starter: Why So Many People Don’t Votegraph with short discussion and sharing of answersScarcity/Consumer Choice/Opportunity Cost/Trade-offs – powerptComplete Stone pgs. 10-13 in class, review answersAnswer Stone pg. 53 - #1-3 and pg. 55 - #12-15HW: read McConnell pgs. 31-47 for Tuesday Tue, Aug 22nd Starter: Article review - Passion or PaycheckRecap: Characteristics of Market and Command economiesBasic Economic Questions, pg. 37 McConnellAdam Smith and laizze faireProblem Set – Ch. 1 – MC QuestionsWed, Aug 23rd Starter: One sentence, explain “invisible hand”Circular Flow – powerptBasic Concepts – Problem Set – Unit IComplete Stone pgs. 47-48Thu, Aug 24th Review Problem Set and Stone PagesFri, Aug 25th Unit I – Quiz - 30 MC with one or two Short Answer questionsHW: read McConnell pgs. 53-58 and complete Stone pgs. 23-26 for MonUnit II: Supply and Demand - Ch. 3, 6, 7Chapter 3: Demand, Supply, and Market EquilibirumChapter 6: Elasticity Chapter 7: Utility Maximization Test Tuesday, Sep 12th Mon, Aug 28th Starter: Willingness to pay and Diminishing Marginal UtilityIntro to Law of Demand - Supply and Demand powerptDeterminants of DemandTue, Aug 29th Starter: Review Unit I - TestReview Determinants of Demand – Supply and Demand powerptReview answers to Stone pgs. 23-26Complete Stone pgs. 29-30HW: read McConnell pgs. 59-70 for WednesdayWed, Aug 30th Starter: Income EffectIntro to Supply – Supply and Demand powerptDeterminants of SupplyComplete Stone pgs. 31-34Thu, Aug 31st Starter: Ticket ScalpingArticles on secondary marketsComplete Stone pgs. 37-38Market Equilibrium – Supply and Demand powerptGroup activity graphing changes in S & DComplete Stone pgs. 39-42 and 43HW: read McConnell pgs. 75-80 and 134-140 for Friday Fri, Aug 25th Starter: Social Costs of Taxing Cigarettes?Identify Consumer Surplus, powerptTotal and Marginal UtilityComplete Stone pgs. 69-74Tue, Sep 5th Starter: Changes in EquilibriumElasticity of Demand, powerptReview Stone pgs. 77-79Revenue and Elasticity of Demand, powerptComplete Stone pgs. 80-82 and 91-92HW: read McConnell pgs. 141-148 for WednesdayWed, Sep 6th Starter: Total vs MarginalDeterminants of Elasticity of Demand, powerptTypes of Elasticity: Income, Cross, and SupplyComplete Stone pgs. 83-89Thu, Sep 7th Starter: Elasticity and RevenueReview answers to Stone pgs. 83-89Price Ceilings and Floors, powerptComplete Stone pg. 99-100HW: read McConnell pgs. 153-157 for FridayFri, Sep 8th Starter: Government and the Market (Stossel video clip)Theory of Consumer Behavior and Utility Maximization – AP FRQStone pgs. 107-110 – MC practiceStarter: Supply and Demand – Problem SetHW: read McConnell pgs. 158-162 for MondayMon, Sep 11th Review Problem Set and Stone PagesTue, Sep 12th Unit II – Test40 MC questions and 2 Short Answer/Graphing questionsHW: read McConnell pgs. 197-199 for Wednesday Unit III: Business and Firm Theory - Ch. 9, 10, 11, 12, 13Chapter 9: Businesses and the Coasts of ProductionChapter 10: Pure Competition in the Short RunChapter 11: Pure Competition in the Long RunChapter 12: Pure Monopoly Chapter 13: Monopolistic Competition and Oligopoly TestCh. 9, 10, 11Thursday, September 28th Quiz Ch. 12Thursday, October 12th TestCh. 13Thursday, October 26th Tue, Sept 12th Unit II – Test40 MC questions and 2 Short Answer/Graphing questionsHW: read McConnell pgs. 197-199 for WednesdayWed, Sep 13th Economic Principles in the NewsMarket Structures, powerptHW: read McConnell pgs. 200-208 for ThursdayThu, Sep 14th Review Unit II TestCosts of Production, powerpteconomic costs and profitsComplete Stone pgs. 127Law of Diminishing Returns - ReviewFri, Sep 15th Starter: Accouting profit vs Economic profitComplete Stone pgs.117-121Costs of Production, powerptProduction FunctionMeasures of CostsMon, Sep 18th Starter: Production FunctionCosts of Production, powerpt Cost Curves (MC, ATC, AVC)Complete Stone pgs. 128-133HW: read McConnell pgs. 209-216 for TuesdayTue, Sep 19th Starter: Fixed and Variable CostsLong-run Production CostsComplete Stone pgs. 135-138 in classWed, Sep 20th Starter: Economies of ScalePure Competition, powerptIntro to PC: Revenue and Profit MaximizationComplete Stone pgs. 139-143HW: read McConnell pgs. 220-226 for ThursdayThu, Sep 21st Pure Competition, powerptShut Down and ExitComplete Unit III – Problem Set – Production CostsFri, Sep 22nd Review answers Unit III – Problem Set – Production CostsComplete Stone pgs. 145-155 for TuesdayProfit Max by a Perfectly Comp FirmHW: read McConnell pgs. 227-235 for MondayMon, Sep 25th Starter: Review answer to Stone pgs. 145-155Pure Competition, powerptchanges in Supply and Demand and Long-Run EqComplete Stone pgs. 167-169HW: read McConnell pgs. 239-251 for TuesdayTue, Sep 26th Starter: Review Stone pgs. 167-169Complete Unit III – Problem Set – Pure CompetitionComplete Stone pgs. 171-174HW: read McConnell pgs. 239-251 for TuesdayWed, Sep 27th Starter: What if MC and ATC shift for the firm?PC Review:Stone pgs. 213-215, #1-15HW: read McConnell pgs. 239-251 for ThursdayThu, Sep 28th Unit III (Part One) – Test35 MC (70 pts)2 or 3 FR (30 pts)Fri, Sep 29th Starter: Examples of MonopoliesCompare PC to a MonopolyMonopoly, powerptDemand Curve of a MonopolyHW: read McConnell pgs. 254-263 for TuesdayMon, Oct 2nd Starter: Review Unit III - TestMonopoly, powerptProfit Max for a MonopolyProfit vs Loss for a MonopolyComplete Stone pgs. 179-181HW: read McConnell pgs. 254-263 for TuesdayTue, Oct 3rd Starter: Define natural monopoly.Monopoly, powerptP, Q, Profit, Loss for a MonopolyComplete Stone pgs. 183-185Wed, Oct 4th Starter: Draw D, MR, and MC curves for a monopolyMonopoly, powerptWelfare costs and Deadweight lossPrice discriminationComplete Stone pgs. 187-191HW: read McConnell pgs. 263-273 for ThursdayThu, Oct 5th Starter: Graph Deadweight lossReview Stone pgs. 187-191Monopolies and Consumer SurplusFri, Oct 6th Monopoly, powerptPublic Policy towards monopoliesComplete Stone pgs. 193-195Complete Unit III – Problem Set – MonopolyTue, Oct 10th Starter: Stone pgs. 197-199Complete Unit III – Problem Set – Monopoly GraphHW: Finish Problem SetWed, Oct 11th Complete Stone pgs. 216-218, #19-33Misc MonopolyX-Efficiency, etcHW: review chapter 12 for quizThu, Oct 12th Monopoly Quiz (Chapter 12)20 MC (40 pts)1 or 2 SA (10 pts)HW: read McConnell pgs. 278-285 for FridayFri, Oct 13th Monopolistic Comp, powerptshort-run and long-run analysisSoda Pop – video ()Mon, Oct 16th Starter: How does a Mono Comp differ from PC and MonoComplete Stone pgs. 201-205Monopolistic Comp, powerptmark up, welfare, and efficiencyHW: read McConnell pgs. 278-285 for Tuesday Tue, Oct 17th Starter: Monopolistic competition is monopolistic up to the point.Review Mono Comp – short run vs long runHW: read McConnell pgs. 286-299 for WednesdayWed, Oct 18th Starter: Complete Stone Pgs. 201-205Oligopoly, powerptmarket characteristics, collusion, duopolyThu, Oct 19th Oligopoly, powerptGame Theory and Prisoner’s DilemmaHW: read McConnell pgs. 286-299 for Friday Fri, Oct 20th Starter: Complete Stone pgs. 207-212Oligopoly, powerptNash equilibrium and Game TheoryGame Shows and Game Theory (short videos)Golden Balls (Game Theory and Weirdest Split)Mon, Oct 23rd Oligopoly and Advertising (productive vs allocative efficiency)Complete Unit III – Problem Set – Monopoly Comp and Oligopoly HW: complete Stone and Problem SetTue, Oct 24th Starter: Oligopoly and Game TheoryGame Shows and Game Theory (short videos)Take or Split (Shocking Move and A Huge Decision)Students create payoff matrixHW: prepare for Unit III – TestWed, Oct 25th Starter: Review Prisoner’s Dilemma with practice problemsComplete 2009 AP Micro FRQHW: prepare for Unit III - TestGroup Graphing Activity – imperfect market structuresComplete Stone pg. 115 and 202HW: prepare for Unit III – TestThu, Oct 26th Unit III (Part Two) – Test (40 MC and 2 FR)Unit IV: Factor Markets - Ch. 14, 15, 16Chapter 14: The Demand for Resources in Capital and Labor MarketsChapter 15: Wage DeterminationChapter 16: Rent, Interest, and Profits TestThursday, November 9thMon, Oct 30th Review Unit III - TestUnemployment and the Labor MarketDemand for Resources and the Capital Market, powerptDerived Demand HW: read McConnell pgs. 312-326 for TuesdayTue, Oct 31st Starter: review Diminishing Marginal ReturnsDemand for Resources in the Capital Market, powerptValue of Marginal productDeterminants of Resource DemandShifts in Supply and DemandComplete Stone Pgs. 227-233Wed, Nov 1st Starter: Marginal Revenue ProductWage Determination in the Labor Market, powerpt Compensating DifferentialsLabor Market ImperfectionsThu, Nov 2nd Starter: Wage DeterminationMarket Imperfections and Wage Determination, powerptMonopsony and Union influence on wages Shifts in Supply and Demand of LaborComplete Stone pgs. 239-241Complete Stone pgs. 253-257HW: read McConnell pgs. 330-341 for FridayFri, Nov 3rd Starter: Market ImperfectionsSpecialization: Comparative and Absolute AdvantageComplete Stone pgs. 15-22HW: read McConnell pgs. 341-348 for MondayMon, Nov 6th Big Mac: Inside McDonald’s Empire (CNBC)video and questions to answerTue, Nov 7th Wage Determination, powerptWage discrimination and Pay for PerformanceRent, Interest and Loanable Funds, power ptLeast-Cost Combination of ResourcesComplete Stone pgs. 235-237Complete Stone pgs. 249-252HW: read McConnell pgs. 361 and 364-366 or WednesdayWed, Nov 8th Labor Market ReviewSupply and Demand, Specialization, UnionsComplete Stone pgs. 263-267Unit IV – Factor Market Problem SetThu, Nov 9th Unit IV – TestMC (70-80 pts)FR (20-30 pts)Unit V: Market Failures - Ch. 4, 5 Chapter 4: Market Failures: Public Goods and ExternalitiesChapter 5: Government’s Role and Government Failure QuizTuesday, November 21st Fri, Nov 10th Review Unit IV TestPublic Goods, powertfree-rider problemexamples of public goodsHW: read McConnell pgs. 83-96 for MondayMon, Nov 13th Starter: Reallocating ResourcesPublic, Goods, powertComplete Stone pgs. 273-275 in classTue, Nov 14th Starter: Market reaction to externalitiesExternalities, powerptnegative and positive externalitiesComplete Stone pgs. 101-102HW: read McConnell pgs. 96-103 for WednesdayWed, Nov 15th Externalities, powerptgraphing exercisesComplete Stone pgs. 277-285 in classInformed decision makingAsymmetric InformationThu, Nov 16th Starter: Complete Stone pgs. 287-288The Tax System, powerpttax principlestypes of taxesComplete Stone pgs. 293-294HW: read McConnell pgs. 96-103 for FridayFri, Nov 17th The Tax System, powerpttaxes and equity (Lorenz Curve)taxes and supply and demandComplete Stone pgs. 299-301HW: read McConnell pgs. 112-123 for WednesdayMon, Nov 20th AP Problem Set – ExternalitiesComplete Morton Pgs. 303-306HW: study for quizTue, Nov 21st Unit V – Quiz20 MC (40 pts)1 SA (10 pts)Unit VI: International Economics – Ch. 24, 25Chapter 24: International TradeChapter 25: The Balance of Payments, Exchange Rates, and Trade Deficits QuizThursday December 7th Mon, Nov 27th Starter: Stone Unit ReviewReview Unit V TestTue, Nov 28th Intro to International Trade, powerptexports and importsimportance of trade HW: read McConnell pgs. 98-105 for Wednesday Wed, Nov 29th Importance of Exports and ImportsTrade balancecomparative and absolute advantage revisitedThu, Nov 30th International Trade, powerptspecialization and David Ricardopractice problem sets and Stone pg. 39HW: read McConnell pgs. 474-479, 483-489, 500-504 Fri, Dec 1st International Trade Short AnswerMon, Dec 4th Starter: Explain importance of Comparative Adv.International Trade, powerptFree Trade vs RestrictionsHW: read pgs. 474-479, 483-489, 500-504 Tue, Dec 5th Starter: Free Trade vs. Fair TradeTrade and Foreign Currencies PowerpointForeign exchange markets and exchange ratesWed, Dec 6th Trade and Foreign Currencies PowerpointRelationship of demand for goods and demand for currencyGraph exercises and analysisHW: study of Unit VI QuizThu, Dec 7th Unit VI – Quiz (50 pts)MCFri, Dec 8th Make-up QuizzesReview Unit VI QuizWed, May 4th AP Micro Multiple Choice – 2005/2010AP Micro Free Response – 2005Review answers to questionsThu, May 5th Make-up QuizzesAP Micro Multiple Choice – 2005/2010AP Micro Free Response – 2009Review answers to questionsFri, May 6th AP Micro Multiple Choice – 2005/2010AP Micro Free Response – 2011Review answers to questionsMon, May 9thAP Micro Multiple Choice – 2005/2010AP Micro Free Response – 2012Review answers to questionsTue, May 10th AP Micro Multiple Choice – 2005/2010Misc Economic Principles/TheoriesNash, Laffer, Lorenz, Cap & Trade, Herfindahl Index ................
................

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

Google Online Preview   Download