AP Macroeconomics SyllabusMr. White[email protected]708-755-1122 ext. 2225In this course, students will:•Learn and master an economic way of thinking, meaning they will learn to think like economists when presented with problems;[CR1]•Learn to express themselves with both written text answers and through a variety of graphical models;[CR9]•Appreciate the general development of modern economic theory;•See the basic connections between economics and calculus (if students have the appropriate math skills);•Become familiar with the basic language of business and be able to read and understand the business press and the basic measurements of economic performance; and•Be well prepared to continue their economics education at the college level.Course PlannerContent SummarySemester 2-Macroeconomics1.Basic economic concepts: scarcity, choice, opportunity cost, PPF [CR1]2.Because every transaction has a buyer and a seller, the total expenditure in the economy must equal the total income in the economy [CR2]3.Macroeconomic Theory and Policy: Classical versus Keynesian Theory4.The Standard of living in an economy depends on the economy’s ability to produce goods and services. Productivity, in turn, depends on the amounts of physical capital, human capital, natural recourses, and technological Knowledge available to workers5.Financial Sector: Money, Banking, and Monetary Policy [CR4]6.The International Economy [CR7]CR1-The course teaches students basic economic concepts.CR9-The course teaches how to generate, interpret, label, and analyze graphs, charts, and data to describe and explain economic concepts.CR1-The course teaches students basic economic concepts.CR2-The course provides instruction in measurements of economic performance.CR4-The course provides instruction in the financial sector.CR7-The course provides instruction in the open economy (international trade and finance).
Course OutlineUnit 1: Basic Concepts/Supply and Demand (review) 2 weekTopics:Scarcity, Choice, Opportunity cost, PPF, Basic Marginal Benefit/Marginal Cost Analysis, Comparative and Absolute Advantage, Demand, Law of Diminishing Marginal Benefits, Supply, Consumer and Producer Surplus, Consumer Choice/Optimal Purchase Rule,