Advanced
Placement Macro-Economics
2007
Course Outline/Scope and Sequence
Mindi
S. Cook
School Profile
Name:
School Location
and Environment: Northwest
Rankin, located in
Grades: 9 through 12
Type:
Total Enrollment: 1,200
Percentage of
Minorities:
The student population is 80% white, 15% Africa-American, and 5% other ethnic
groups.
College Record: Seventy-Seven percent of students go on
to college immediately after graduation.
60 percent to four-year colleges and universities and 17 percent to
two-year colleges.
Advanced
Placement Program:
Advanced
Placement Economics is a one semester experience at Northwest. It is offered in the spring to help students
retain knowledge for the AP test in May.
AP Economics has no pre-requisites, although it is recommended for seniors
who have completed at least Algebra II and are currently enrolled in Advanced
Placement English.
This course of
study outlines the following seventeen Fundamental Economic Concepts that an
economically literate person should know.
1. Scarcity
2. Opportunity Costs and Trade-offs
3. Productivity
4. Economic Systems
5. Exchange, Money and interdependence
6. Markets and Prices
7. Supply and Demand
8. Competition and Market Structure
9. Income Distribution
10.
Inflation
11.
The role of Government
12.
GNP v GDP
13.
Unemployment
14.
Barriers to trade
15.
Balance of Payments and Exchange
Rates
16.
International Aspects of Growth and
Stability; interpendence
17.
Budgeting, Insurance, Credit, Banking,
Purchasing Decisions
Introduction and
Class Goals:
One
of the goals of this class is to provide you with the tools of economic
analysis to help you understand how the economy works and your role in that
economic process of dealing with scarcity.
During the course of this semester unit, we will not attempt to
"cover the book." It is much
more important for you to learn the basic concepts of economics and to be able
to apply and use those concepts than to simply "cover the material."
These
concepts will be approached through a variety of means, including the textbook,
but not using the textbook exclusively.
Included in this syllabus, you will find a calendar of assignments and
subjects.
It
is my sincere desire that you will come away from your study of economics with
a better appreciation and understanding of the "science of choices."
AP
Economics is designed to replicate the introductory macroeconomics course
taught in a university setting. As such,
the course requires far more effort and commitment than the typical high school
course.
The course goals
are threefold:
1. to introduce you to the field of macroeconomics
2. to teach basic economic concepts and
analytical skills
3. to enable to you to score well on the AP
Macroeconomics Exam
In
addition to these benefits, Northwest Rankin High recognizes that Advanced
Placement courses mean extra work for students.
It thus gives them a weighted grade point in an AP course.
Text: McConnell,
Campbell R., and
Other Materials:
***You
are responsible for keeping up to date with articles and current events from the
popular press as well as from The
Business Week and The Wall Street
Journal.
Time Commitment:
In order to adequately prepare for the
Advanced Placement Exam in May, you must spend considerable time preparing for
this course. The text must be read and
problems completed in a timely fashion.
The class may meet several times after school; while these meetings are
not mandatory, failure to attend will mean considerable additional preparation
time outside of class. Assignments must
be read and questions formulated before coming to class; homework
reading/problems are a necessary part of learning economics. Whereas late assignments will not be
accepted, you should plan on spending two hours preparing for each class
meeting. Attendance in class is
critical. Students who miss class often
(for any reason) are jeopardizing their grade in this course. Those students who do not attend at least 80
percent of regular class periods generally perform poorly in this class. Students who anticipate attendance problems
should transfer to another class. If a
student is absent, the entire responsibility for obtaining and making up missed
work is hers/his.
Class
Preparation:
To
be adequately prepared for class, you must do the following:
1. Read the assigned pages and take notes on the
reading and formulate
questions
2.
Take notes on the material presented in class, notes, discussions,
power-point presentations
3. Carefully complete any assigned problems
4. Review the study material to pinpoint areas
of non-comprehension
It
must be understood at the outset, that there is extensive reading and that it must be completed in advance of the material being covered
in class. Students are expected to have
a comprehensive understanding of all topics treated in the text, reader, and
the classroom. Examinations will test for understanding of all of the issues
covered in the readings, even the ones not explained in class. In fact, class discussions are intended to
embellish the readings, not repeat the material. The readings, lectures, and class discussions
are all a means of carrying on an inquiry into the topic at hand and meant to
supplement rather than duplicate each other--although some repetition and
reinforcement is intended and desirable.
Seeking
Assistance:
You
can improve your learning considerably by being active in the learning
process. Questions, carefully formulated
and articulated, make a world of difference in learning a subject as complex as
macroeconomics. I am available before
school (7:30 a.m.-7:55 a.m.), and
briefly after school on most days, or at
length with an appointment to answer questions. My planning times will be A3
and B8.
Evaluation:
Grades
in this class are based on the point system.
To compute your term average, take the total number points you have for
a term and divide it by the total number of possible points
Example: Total
possible points for term 1500
Student's total points 1425
1425 divided by 1500 =
95
For
3rd term your points will count 80%
of the term grade and your nine weeks test will count 20%
for your
term average.
For
4th term your points average will count 100% of your term average.
Semester
average is found by averaging the 3rd and 4th term averages (Seniors who complete
a
Senior project will
not be required to take the final exam)
You
will be graded on the following basis:
Unit
tests (x4)
Quizzes
(x4)
Assorted
homework (x1)
Outside
reading logs (x1)
Mid-term
exam(20% 1st 9w)
Tests
will include both objective and essay questions. The goal of the tests is to prepare you for
the AP Exam in May. Objective questions
will require application and /or synthesis of material presented; essay
questions will involve clear explanations of policy alternatives in
macroeconomic terms. The quizzes will
involve questions that are simpler in composition and more direct. The questions will be drawn largely from
resources available to you (i.e. text reading, class discussions, homework, and
reader). Weekly logs will be assigned
sporadically at the instructor’s discretion.
Logs are scored on the basis of length and appropriateness of
response. Homework assignments will vary
from basic worksheets to analytical papers.
Late homework will not be
accepted, so adhere to unit syllabus to ensure promptness.
Class Conduct:
In
order to ensure a successful semester, we must respect one another’s right to
learn. Below you will find a list of rules and requirements for this
class. Please read over and pay
attention to these guidelines to alleviate wasting time and maximize the
learning experience.
1.
Come prepared to class with textbook, econ notebook (three-ring binder
required), pen/pencil, homework
2.
Be in your seat when the bell rings working on the bell-ringer
3.
If you have questions in reference to grades or assignments, see me before or after
class or school.
4.
A zero will be recorded for any assignment (test, homework, etc.) in which a
student is caught cheating. Do not copy
homework assignments in my class! if
caught, both parties will receive a zero.
6.
Quizzes (other than reading) must be made up prior to the chapter test covering
that material.
7.
Please do not talk while I or others are talking.
8.
Do not work on other assignments in my class unless you have completed all Econ
assignments and
have received permission from the teacher.
9.
Please only write in blue or black ink and pencil in this class. Specific requirements will be made for
tests.
More specific
instructions regarding cheating: Copying homework
is cheating. Homework is practice,
practice makes perfect. You wouldn’t let
someone else practice your sport and then expect yourself to receive playing
time… would you? Exercise your brain…
SEMESTER PLAN- Spring 2007
Mindi Cook
ADVANCED PLACEMENT
MACRO- ECONOMICS
Note: where more than one chapter is discussed in
one week, discussion will be based on topics, rather than study of all of each
chapter mentioned. Keep in mind this is
a tentative schedule subject to change.
Week 1 (January 6-9) An introduction to economics and the economy
Chapter
1, 2, 3 (a combined study)
Economic theory, scarcity,
opportunity costs, production possibilities curves, the functions of an economic
system, specialization and comparative advantage
Week 2/3 (January 12-23) Understanding Individual Markets: Demand and
Supply
Chapter
4, 7
Demand: law of demand, the demand curve, individual
& market demand, determination of demand, changes in demand, changes
in demand, change in quantity demanded
Supply: supply curve, determinants of supply,
changes in supply, changes in quantity supplied.
Market equilibrium, price
elasticity
Week 4/5 (January 26-February 6) Measuring Economic Performance
Chapter
22, 23
Circular flow of income, Gross
Domestic Product, National Income concepts, unemployment, inflation, Consumer Price Index,
Production Price Index
Week 6-9 (February 9-March
6) Aggregate Demand & Aggregate
Supply & fluctuations of output & prices
Chapter
24,25,26,27,28
Aggregate Supply: classical &
Keynesian; Aggregate Demand: circular flow, components, multiplier, fiscal policy,
Keynesian cross
Week 10 (March 16-20) Aggregate Demand & Aggregate Supply &
fluctuations of output & prices continued
Chapter
26, 27, 28
See previous unit
Week 11/12 (March 23-April
3) Money & Banking, Monetary policy
& economic stability
Chapter
29,30,31
Nature of money: What is it, what
purposes it serves, and how it is measured
Banking system: historical
origins, banking as a business; creation of money; the Federal Reserve,
Monetary policy impact on
interest, monetarists v Keynesian
Week 13/14 (April 6-17) Monetary & Fiscal combination
Chapter
31,32,33
Quantity theory of money,
monetarism, automatic stabilizers, budget deficit, national debt, real versus nominal interest rates, inflation
accounting, demand-side inflation, supply-side inflation, Phillips curve, stagflation rational
expectations
Week 15/16 (April 20-May 1) The
Chapter
35,36,37
tariff, quota, absolute and
comparative advantage, gains from trade, exchange, balance of payments, current and capital accounts,
international monetary system, appreciation, depreciation, Budget deficits and trade deficits
Week 17 (May 4-8) Review for AP Macro Exam
Week 18 (May 11-15) AP Macro Exam