AP Microeconomics Syllabus…

1、advanced placement syllabus and parent letter 2011-2012dear parents,my name is mr.adduci and i will be your childs advanced placement economics teacher for the 2010-2011 school year. my educational background includes a bachelors of arts degree from valparaiso university and ap economics training at

2、 the university of wisconsin and triton community college. course:advanced placement economicscredit:1 unitinstructor:mr. j. adduciphone:773-535-2550email:jaawebsite: schedule1economics6 27 3economics8economics4economics 5 office hours text and materials/requiredmankiw,

3、n. gregory, principles of economics fourth edition thomson south-western, 2007supplemental materialsmankiw, n. gregory, principles of economics fourth edition study guidemankiw, n. gregory, principles of economics fourth edition microeconomics overhead transparencies supplied with text.morton, john

4、s. advanced placement economics: microeconomics. new york: national council on economic education, 2003, 3rd edition.two books: student activities and teacher resources manual.released ap microeconomic tests 1995, 2000, 2005ap central website all released free response questionscourse overview/descr

5、iptionap microeconomics is the study of how individuals use their limited scarce resources. it is taught as a year long course. in may, all students are expected to take the advanced placement exam. only by taking the exam, do students earn advanced placement credit towards their gpas. only by doing

6、 well on the exam, can students earn college credit. in 2010, the cost of an advanced placement exam was $86.00. in past years, students who qualified for free or reduced lunch qualified for a fee waiver from the state of illinois. the state has not published its policy this year yet,but make sure t

7、o turn in a lunch form to make sure you qualify for the waiver if the policy doesnt change. test fees for those students who dont qualify for a waiver will be collected at the beginning of the second semester. any questions regarding the ap exam or fees should be directed to mr. moore, morgan parks

8、advanced placement coordinator, at gtmoorecps.edua p microeconomics course descriptionthe purpose of an ap course in microeconomics is to give students a thorough understanding of the principles of economics that apply to the functions of individual decision makers, both consumers and producers, wit

9、hin the economic system. it places primary emphasis on the nature and functions of product markets, and includes the study of factor markets and of the role of government in promoting greater efficiency and equity in the economy. goals/objectivesthe course is intended for qualified students who wish

10、 to complete studies in secondary school equivalent to a one-semester college introductory course. each exam presumes at least one semester of college-level preparation. the topics covered include:a. basic economic concepts requiring students to understand the existence of limited resources along wi

11、th unlimited wants necessitates some form of allocation system. we introduce concepts of opportunity costs and trade-offs, specialization and exchange efficiencies, absolute and comparative advantage, fallacies such as post hoc, ergo propter hoc, the importance of property rights and the functioning

12、 of free markets.b. analyzing the nature and functions of product markets delves into supply and demand models, consumer choice, production and costs, and the theory of the firm. we analyze the determinants of supply and demand and how changes in these factors affect equilibrium price and output foc

13、using on the difference in shifts versus movements along the curves. the impact of various government policies is studied as they affect equilibrium status and market efficiency. the theory of consumer and producer surplus is introduced here as well as the various concepts of elasticity and cross-el

14、asticity. consumer choice is studied as to how the market and firm demand curves are derived concentrating on the law of demand and the income and substitution effects. production and cost analysis are studied in the short and long run starting with an analysis of the production function. cost analy

15、sis is key here with the distinction and importance of average and marginal cost concepts as applied to equilibrium and efficiency. firm size as controlled by economies and diseconomies of scale as well as returns to scale is also studied. the last area covered is the theory of the firm. here we stu

16、dy the different market structures and how they differ due to the characteristics of each. stress is placed on the difference between demand and marginal revenue curves for the various market structures and how this affects price and output decisions. allocative and productive efficiency is studied

17、for each market structure as well as the basis and difference in decision making for perfect or pure competition, monopoly, oligopoly and monopolistic competition.c. in factor markets we apply the concepts of supply and demand to markets for land, labor and capital. we analyze derived demand and how

18、 the factors marginal product and marginal revenue product affect the demand for and price of the factor. d. market failure and government concentrates on the arguments for and against government intervention in the marketplace. we study marginal social benefit and marginal social cost concepts as a

19、pplied to externalities, public goods and market distribution of income to determine the need for government intervention. illinois state standardsstate goal 1:read with understanding and fluency.state goal 15: understand economic systems, with an emphasis on the united states.course outlinein class

20、: lecture style covering the material from mankiw, n. gregory, principles of economics, supplemented with overhead transparencies supplied with the text as well as video projections from the internet. i go over the homework questions completely using the video projector and the supplied answers from

21、 the publisher website and analysis of the activities from the morton book. homework: a. assigned problems from problems and applications section from each chapter of mankiw, n. gregory, principles of economics hereafter referred to as mankiw.b. activities from morton, john s. advanced placement eco

22、nomics: microeconomics - student activities hereafter referred to as morton. assessments: a. unit tests are comprised of selected questions from the assigned homework as well as relevant free response questions from previous ap exams. b. final examination is a complete previously released ap examina

23、tion, both multiple choice and free response sections given over the course of two classes so there is a 2-hour window of completion. unit 1: basic concepts time: 2 weekskey topics: scarcity, choice, opportunity costs, the invisible hand, efficiency, market failure standard of living, inflation vs.

24、unemployment, business cycle, the circular flow diagram, microeconomics vs. macroeconomics, positive vs. normative analysis, production possibilities curve, property rights and marginal analysis. readings: mankiw, principles of economics, chapters 1-3classwork: chapter 1-3 teacher and student driven

25、unit 2: how markets worktime: 4 weekskey topics: what is a market competition, the demand curve relationship between price and quantity demanded, market demand vs. individual demand, shifts in demand, the supply curve relationship between price and quantity supplied, market supply vs. individual sup

26、ply, shifts in the supply curve, equilibrium and changes in equilibrium, how prices allocate resources, elasticities of supply and demandreadings: mankiw, principles of economics, chapters 4-6.classwork: chapter 4-6 teacher and student driven.unit 3: markets, welfare and the public sector time: 7 we

27、ekskey topics: efficiency of markets, consumer & producer surplus, evaluating market efficiency, costs of taxation and deadweight loss, laffer curve, international trade, discussion of trade restrictions, externalities, public and private solutions to externalities, public goods and common resources

28、, property rights, the tax system.readings: mankiw, principles of economics, chapters 7 12.classwork: chapter 7-12 teacher and student drivenunit 4: firms and market structurestime: 6 weekskey topics: costs of production, short-run and long-run costs, economies and diseconomies of scale, competitive

29、 market structure, market supply curve, monopoly structure, demand vs. marginal revenue, efficiency of monopoly, public policy toward monopoly, price discrimination, oligopoly, cartels, game theory, antitrust policy, monopolistic competition, advertising.readings: mankiw, principles of economics, ch

30、apters 13 17.classwork: chapter 13-17 teacher and student drivenunit 5: factor marketstime: 6 weekskey topics: derived demand, demand for labor, marginal product of labor, marginal revenue product, supply of labor, equilibrium in the labor market, land and capital, determinants of wage equilibrium,

31、labor market discrimination, income inequality, income redistribution.readings: mankiw, principles of economics, chapters 18-20classwork: chapter 18-20 teacher and student drivenap microeconomics examination reviewi do extensive review of microeconomics four weeks before the ap exam is given. the ec

32、onomics exams are at the end of the two-week ap window and because my students take multiple ap courses, their time during the exam period for study is at a premium. i have to concentrate my review in the week preceding the onset of the exam period. this review consists of take home released ap exam

33、s from 1995 and 2005 which we then correct in class.required student materialsbinder/foldercalculatorgraph paperpens (assorted colors)rulerposter boards colored pencilspencils, erasers8 x 11 white papernotebook paper liquid white outspiral notebookclass expectations and requirements/attendance polic

34、y the study of economics is both challenging and rewarding. it is expected that students read the assigned material and come to class prepared to discuss the required readings. attendance and punctuality are paramount. only students with an official school absence reinstatement will be allowed to ma

35、keup missed work. this includes all assignments, even quizzes and exams.every student is expected to adhere to the rules and regulations of morgan park high school that are included in the student handbook. your son/daughters cooperation is essential to their academic success. preparation and attitu

36、de will also play an important part in their achievement.assignments and recover plans will be posted on the morgan park website () and please utilize the impact parent portal to keep abreast on your childs progress.remediation/assistance policiesremediation and recovery plans will be provided for students who do not achieve 60%.a contract recovery plan contract must be signed by student/parent/teacher. if recovery plan is not followed it will result in a failing grade. tutoring is available by appointment.homework policyhomework will be assigned a