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AP Government & Politics - Unit 10: Public Policy, Part IIEconomic Policy & The American EconomyINTRODUCTIONWe only have one unit left before the AP Exam (scheduled for Thursday, May 4th) and it focuses on economic policy. We will review both the policy aspect (Advanced Placement curriculum) and discuss the larger themes and ideas regarding our American economy (Civics/Economics curriculum). The latter will be done through packets that are available on the class website. As a result, your class attention/participation is crucial – if you miss class, make sure you get the notes from a peer. Please also note that this is the time to create your study plan for the upcoming exams. The next four weeks will require an academic intensity from you with regards to content review and test preparation. IMPORTANT ANNOUNCEMENTSConcept Cards: Your last set of concept cards are due Thursday, March 30th. Remember, these cards should include 50 concepts with at least three pieces of information on the back. The average grade of the six set of cards will count as your project for fourth quarter (and, thus, a Civics test grade). DPS Saturday Review Sessions: The district review session is on Saturday, April 22 and Saturday, April 29 at City of Medicine Academy from 8:30-11:00am OR 11:30-2:00pm. If you have not registered, please do so as soon as possible at the following link: . If you registered, plan on attending!?AP Exam Review Suggestions: These suggestions were on the last unit plan and are repeated here. The time for thinking about how to prepare is over – create a plan of how to prepare for the exam and consider these suggestions: Use the online resources that are on the class webpageStudy your concept cards (you will have made 300 of them!)Review the review guides from throughout the yearAttend the district review sessionsFocus on both the earlier and your weaker areas firstUse your review book (summaries, practice questions, term lists)Find an effective way to use your notes/notebookCategorize material when you are preparingOrganize a study group to go through materialDownload an AP Government App (yes, they do exist!)Pre-Registration for AP Exams: All students will need to pre-register for the AP Exams after you return from Spring Break. You must report to the auditorium on one of the following days during your lunch period. The schedule, based on the first letter of your last name, is as follows – April 18: A-H, April 19: I-Q, April 20: R-ZUpcoming Dates: Please make note of the following dates:Thursday, April 20 – Unit 10 Test (note: the test is a day earlier than the course description states)Monday, April 24 – AP Review Quiz #1Tuesday, April 25 – AP Review Quiz #2Thursday, April 27 – Practice AP ExamMonday, May 1 (Tentative) – AP Review Quiz #3Thursday, May 4 – AP Government and Politics ExamSOCIAL MEDIA CHALLENGEOne of the largest distractions to your preparation will be the non-instructional use of social media. At this point, there are ONLY 232INSTRUCTIONAL DAYS remaining until the AP Exam. As a result, I challenge you to eliminate all social media until the exam (with the exception, of course, of school related and emergency issue needs). Every year, after the exam, students tell me that they wish they did this!Monday, March 27TEST: PUBLIC POLICY, PART I (FOREIGN, SOCIAL, ENV)Homework: 819-827 (skip 823) – Note: You have the same reading assignment tomorrow night as wellTuesday, March 28 Discussion:Unit 10 Essay; Test Analysis – Most Frequently Missed Questions/Unit OverviewUnit Overview/Student Teacher Evaluation Homework: 819-827 (skip 823); print out both packets (Economic Principles, Supply and Demand) for class tomorrow. You must have a hard copy of both packets.Wednesday, March 29Discussion:Basic Guide to Understanding the Economy, Part I: Economic PrinciplesHomework:Work from the packet (will be assigned in class)Thursday, March 30 (LAST SET OF CONCEPT CARDS DUE)Discussion:Basic Guide to Understanding the Economy, Part I: Economic PrinciplesHomework:Read and take notes from the following on “Supply and Demand” , March 31Discussion:Basic Guide to Understanding the Economy, Part II: Supply and DemandHomework: (1) Define the following terms: bear market, Bond, Broker, bull market, commission, dividend, diversification, Great Depression, Investment, IPO, mutual fund, NASDAQ, NYSE, profit, risk, Securities and Exchange Commission, shareholder, Stock, stock market, trade(2) Read and take notes on the following articles: --What is the Stock Market: --How the Stock Market Works: (watch the video with the article, too!)Monday, April 3Discussion:Stock Market and The Great Depression (Video: Stock Market – The Basics)Homework: 827-836Tuesday, April 4Discussion:Fiscal and Monetary Policy, Part I – The Politics of MoneyHomework: 836-845Wednesday, April 5Discussion: Fiscal and Monetary Policy, Part II - TaxesHomework: Complete the NY Times Budget Simulation at the following New York Times link: . When finished, please complete the follow: (A) Based on your plan, what % of savings comes from tax increases vs. the % of savings from spending cuts? What do you think about this?(B) What are ten questions, observations or comments you have regarding the simulation, your answers, or generalizations you can make regarding the budget. You will turn this in.Thursday, April 6Discussion:Film – 10 Trillion and CountingHomework: Review Social Security, Medicare, and Medicaid from Chapter 17Friday, April 7Discussion:Public Policy – Entitlement ProgramsSample AP Government Essay: Social SecurityHomework: 845-853 and complete a Practice AP Exam from your Review Book. Save the results until we are done with the unit.Monday, April 10 – Friday, April 14 --- SPRING BREAKENJOY YOUR BREAKMonday, April 17Discussion:Economic Regulatory PolicyGroups – How’s and Why’s of Economic PolicyHomework: Finish the How’s and Why’s assignmentTuesday, April 18Discussion:Review Economic PolicyHomework: Study for testWednesday, April 19Discussion:Review Economic PolicyHomework: Study for testThursday, April 20TEST: ECONOMIC POLICY Homework:Study for examsFriday, April 21Discussion: Test Analysis & Most Frequently Missed Questions; Review PlanHomework:Study for review quiz (and study for exam)Monday, April 24Discussion: Review Quiz #1: Constitution & Federalism; Exam ReviewHomework: Study for review quiz (and study for exam)Tuesday, April 25Discussion:Review Quiz #2: Three Branches of Government; Review for ExamHomework: Study for ExamWednesday, April 26Discussion:Review for ExamHomework: Study for ExamThursday, April 27AP PRACTICE EXAMFormat: 60 Multiple Choice (45 minutes) and 1 Essay (25 minutes)Grading: This will be worth two AP test grades for fourth quarter Homework:Study for ExamFriday, April 28Discussion:Practice Exam AnalysisHomework: Study for ExamMonday, May 1Discussion:Tentative – Review Quiz #3: Linkage InstitutionsHomework: Study for ExamTuesday, May 2Discussion:Review for ExamHomework: Study for ExamWednesday, May 3Discussion:Review for ExamHomework: Study for ExamThursday, May 4THE BIG DANCE – AP EXAM!UNIT 10 REVIEW GUIDE – ECONOMIC POLICYAP Government & Politics TermsDirections: Economic policy is defined as “all the different strategies that government officials employ to solve economic problems.” Explain the significance that each of the following concepts has on economic policy. Do not define the terms; you should already have those in your reading notes. The idea here is to focus on the impact, importance, and complexity.Antitrust policiesBalanced BudgetBusiness CycleCapital Gains TaxCollective BargainingConsumption taxDeficitDepressionDeregulationEconomic boomEconomic bustExcise taxesFederal Reserve SystemFiscal policyFlat taxFree trade policiesGross Domestic ProductInflationInterest ratesKeynesianismLaw of Supply and DemandMonetary policyMonopolyNational DebtNAFTAProgressive taxesProtectionismRecessionRegressive taxesSelf-regulating marketSupply side economicsSurplusesTrade deficitValue-added taxCivics & Economics TermsDirections: Define the following terms in your own words.Adam SmithBenefitBoycottCapitalCapital GoodsCapitalismCarrotsCharterCollective BargainingCommand EconomyCommunismCompetitionComplementConsumerConsumer GoodsConsumerismCorporationCostCost-Benefit AnalysisDemand Discretionary Division of LaborDownsizingEconomic FreedomEconomic modelsEconomicsElasticEntrepreneurshipEquilibrium PriceExpensesFactors of Production Fixed costsGoodsGross Domestic Product Incentives Income InelasticLaborLaissez-FaireLand MacroeconomicsManufacturingMarginal costMarket EconomyMarketsMicroeconomicsMoneyMonopolyMutual fundNatural ResourcesNeedsOpportunity CostPartnershipPrivate Property RightsPrizeProductivityProfitProfit MotiveResources RevenueScarcityServicesShortageSole ProprietorshipSpecializationSticksStockStrikeSubsidySubstituteSupplySurplusTaxesTechnologyTotal costsTrade-offTraditional EconomyUnionVariable costsVoluntary ExchangeWants Wealth of NationsShort Answer QuestionsDirections: Answer the following questions in complete sentences. Provide evidence and examples where appropriate.Explain four ways we measure our US economy.Identify laissez-faire. Does this explain our economy? (think: complexity)How does supply and demand define our economic market?Raise taxes and cut spending. Why is this not a solution to our economic woes?Is a balanced budget necessary? Why or why not?How does the budget process work?Identify the major revenues and expenditures of the US Government.Why is reforming the tax code so difficult? ................
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