AP Microeconomics

Instructor: Ms. Kathleen McDaniel

School e-mail:kathleenmcdaniel@ci.bristol.ct.us

Phone Number: (860) 584-7876 ext 231

Room Number: 231

Course Time Frame:

78 days/34 weeks (prior to AP Exam)

2 days review for AP Exam

Post AP Exam: approx. 10 days supplementary unit on Behavioral Economics

Overview: This is a year-long course in microeconomics, a branch of economics that focuses on choices made by individuals, households, or firms. Students will take the AP Microeconomics on May 15, 2015(cost: $89)

Purpose and Objectives:

The purpose of the 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, within 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. Throughout the course, students will generate, interpret, label and analyze graphs, charts and data to describe and explain economic concepts.

Objectives: Students will be able to

Explain how scarcity of resources affects the nation and the individual

Write arguments using economic key terms/content (Build an economic argument in writing)

Demonstrate economic questioning and analysis skills

Draw and calculate information from texts, such as graphs, to support analysis, reflection, and research

Interpret a variety of graphical models and paraphrase economic concepts

Apply economic skills/concept knowledge to current events

General Expectations

To be successful in this course, you need to continue your learning outside of this classroom every day. You must keep up with your homework and other class related assignments, review your textbook and look over your notes on a daily basis.

The following expectations and conduct are expected and should be followed in order to ensure a safe and pleasant learning environment:

Be Responsible

Be Safe

Be Respectful

Come to class on time

Do your work

Absence- take care of work you missed

See me if you have any problems with the material early. (I am here before school and after school)

Follow school rules

Let me know if you are having any difficulties

Report any unsafe behavior

Positive Attitude is a must. Be open to learning new things.

Respect each other

Academic Expectations

Class Cuts/Tardy -I will not accept cutting class or being tardy to class. Tardies and cuts result in administrative referral.

Homework You will have daily homework assignments. With teacher approval, late work will be accepted for partial credit.

Papers/Projects- Papers, projects and alternative assessments can be turned in, up to five classes after the due date, but you will receive 10 points off for each day it is late. No assignment is accepted after the fifth day.

Absence- If you are absent, it is your responsibility to find out what you missed in class, and for homework. All make up work must be handed in the next class period, unless you have been instructed by me, to hand in assignments at a later date. I will go over with you during the first day of class, where you can find materials if you were absent. If you missed a test, quiz or presentation you must see me to find out when you can make it up.

Grading: Student evaluation will be based on a 4 part, weighted system:

Part 1: Tests, Quizzes, Projects, Papers:50%

Part 2: Quizzes:20%

Part 3: Homework:15%

Part 4: In-class activities /assignments:15%

Supplies Needed: *Calculators are not permitted!

1. Separate notebook for AP Econ (folders to hold tests, in class activities/assignments, lecture notes)

2. Required Textbook: Paul Krugman and Robin Wells Krugmans Economics for AP* (bring to class every day)

Supplementary Sources Used in AP Microeconomics:

David Anderson, Economics by Example

John S. Morton and Rae Jean B. Goodmans Advanced Placement Economics Microeconomics: Student Activities

David Anderson and James Chaseys Favorite Ways to Learn Economics

MISSION STATEMENT FOR BRISTOL EASTERN HIGH SCHOOL

Bristol Eastern High School supports, challenges and empowers students to succeed within and beyond our community. We are committed to regular and continuous evaluation and improvement of instructional practice. We provide a safe and nurturing environment in which students are partners in their learning progression helping them develop a passion for knowledge. We have set forth 21st century learning expectations that will challenge our students to think and act to solve problems within and across disciplines. We will provide varied opportunities for our students to work independently or collectively within or outside the classroom setting. We pledge to review and revise learning expectations and this narrative based on district and community priorities.

BEHS Academic Expectations for Learning in the 21st century

Students can read actively and critically to comprehend information of increasingly complex texts, from a variety of sources.

Students can demonstrate effective written, spoken and mathematical communication for a range of purposes and audiences.

Students can engage in appropriate collaborative and independent inquiry to question, investigate/research a topic, gather and present information.

Students can apply concepts allowing them to frame, analyze and solve a range of increasingly complex problems involving real world scenarios.

Students can construct clear and concise arguments to support their reasoning and will appropriately critique the reasoning of others.

Common Core Standards

The standards clearly communicate what is expected of students in high school level. These standards are aligned with college and work expectations, include rigorous content and application of knowledge through high-order skills.

English/Language Arts and Literacy in History/Social Studies:

CCRA.L.4 - Determine or clarify the meaning of unknown and multiple-meaning words and phrases by using context clues, analyzing meaningful word parts, and consulting general and specialized reference materials, as appropriate.

CCRA.L.6 - Acquire and use accurately a range of general academic and domain-specific words and phrases sufficient for reading, writing, speaking, and listening at the college and career readiness level; demonstrate independence in gathering vocabulary knowledge when encountering an unknown term important to comprehension or expression

CCRA.SL.2 - Integrate and evaluate information presented in diverse media and formats, including visually, quantitatively, and orally.

CCRA.W.2 - Write informative/explanatory texts to examine and convey complex ideas and information clearly and accurately through the effective selection, organization, and analysis of content.

CCRA.W.4 - Produce clear and coherent writing in which the development, organization, and style are appropriate to task, purpose, and audience.

RH.11-12.7 - Integrate and evaluate multiple sources of information presented in diverse formats and media (e.g., visually, quantitatively, as well as in words) in order to address a question or solve a problem.

RH.9-10.7 - Integrate quantitative or technical analysis (e.g., charts, research data) with qualitative analysis in print or digital text.

WHST.9-10.4 - Produce clear and coherent writing in which the development, organization, and style are appropriate to task, purpose, and audience.

WHST.9-10.7 - Conduct short as well as more sustained research projects to answer a question

WHST.9-10.2 - Write informative/explanatory texts, including the procedures/ experiments, or technical processes.

Mathematics:

HSA-CED.A - Create equations that describe numbers or relationships.

HSA-REI.B - Solve equations and inequalities in one variable.

HSA-REI.C - Solve systems of equations.

HSF-BF.A - Build a function that models a relationship between two quantities.

Topic Outline: This is an outline of the major content areas covered by the AP Microeconomics Exam. The percentages indicated reflect the approximate percentage devoted to each content area in the multiple-choice section of the exam. The outline is a guide and is not intended as an exhaustive list of topics.

Content AreaPercentage Goals of AP Exam (multiple choice section)

IBasic Economic Concepts

Scarcity, choice, and opportunity cost

Production possibilities curve

Comparative advantage, absolute advantage, specialization, and trade

Economic systems

Property rights and the role of incentives

Marginal analysis

814%

IIThe Nature and Functions of Product Markets

Supply and demand (1520%): market equilibrium, determinants, price/quantity controls, elasticity, surplus/efficiency, deadweight loss

Theory of consumer choice (510%): total/marginal utility, individual/market demand curves, income and substitution effect

Production and costs (1015%): short/long run production functions and costs, marginal product and diminishing returns, economics of scale

Firm behavior and market structure (2535%): Profit, Perfect Competition, Monopoly, Oligopoly, monopolistic competition

5570%

III Factor Markets

Derived fact