AP Economics gives students a thorough understanding of the functions of individual decision makers, consumers and producers within the economic system. It places primary emphasis on the nature and functions of product markets, and includes the study of factor markets and the role of the government in promoting greater efficiency and equity in the economy.
- The Nature and Function of Product Markets
- Factor Markets
- Market Failure and the Role of the Government
- Basic economic concepts
- Measurement of economic performance
- National income and price determination
- Financial sector
- Inflation, unemployment, and stabilization policies
- Economic growth and productivity
- Open economy: international trade and finance
Students successfully completing this course will:
- understand the relationship between limited resources and unlimited wants creating a need for choices
- be able to evaluate supply and demand models, consumer choice and costs, and the theory of the firm.
- be able to apply the concepts of supply and demand to markets for factors such as labor, capital and land.
- understand the arguments for and against government intervention in our economic system.
This course is designed to simulate a college level Economics course. Coursework and examinations will be developed with the goal of preparing students for the Advanced Placement Exam in Economics.
Each student has been issued a text book entitled “Foundations of Economics AP Edition” by Bade and Parkin. This text book can be kept at home but I will assign readings and topic to study from this text book. Will also be utilizing an online textbook that can be found at reffonomics.com. This online text is designed to provide students with interactive graphing and problem solving activities, videos and problem sets that align with each of the topics covered in the AP course. Students have also been instructed to have dedicated notebook to use in class for taking notes and illustrating the may graphs we will use during our study of Economics.
Students grades will be based on a “total points” system. Each assignment will be allocated points according value of the assignment and points will be totaled to develop the marking period grade. Graded assignments will include homework, classwork, quizzes, test and projects. This course will feature a midterm and final. Students who take the May AP exam will be exempt from the course final exam.