AP Economics
2007-2008 Mr.
Taylor
AP Economics Course
Description
This college-level course will survey fundamental themes in microeconomics (fall) and macroeconomics (spring). Economics is concerned with how to maximize the fulfillment of society’s unlimited wants through the efficient use of scarce resources, capital, labor, land and entrepreneurial abilities. By studying economics students will learn to make informed and rational decisions about consumption, investing, politics and citizenship.
Microeconomics
concentrates on those principles that relate to the functions of individual
decision-makers in our economy. It
explores such concepts as: opportunity costs and trade-offs; how different types
of firms decide what, how, and for whom to produce; comparative advantage in
trade; and consumer and producer supply and demand interaction. We will focus on four economic models: pure
competition, monopolistic competition, oligopolies, and monopolies. Microeconomics considers the effects of
government intervention on our market system, including the effects of
government taxation and transfer programs on income distribution and economic
efficiency.
Macroeconomics
focuses on those principles that apply to our economy as a whole. It provides an overview of our economic system
and measurements of economic performance, including gross domestic product, inflation,
and unemployment. It analyzes national income, the role of money and
banking, the workings of monetary and fiscal policies to manage short and
long-term unemployment and inflation rates, and the federal budget and the
national debt.
During the course of the year, the curriculum
incorporates extensive use of analytical problem solving, graphing, classroom
discussion, and discussion
of current economic issues. Each student
will be responsible for a current event topic, such as the stock market,
business mergers, antitrust legislation, new technology consumerism, labor
relations, agricultural problems, homelessness, welfare, the current
In
May, students are expected to take the two-hour A. P.
examination on Microeconomics and the two-hour A. P. examination on
Macroeconomics.
The
textbook for this course is:
Economics:
Principles, Problems and Policies, McConnell
& Brue, Seventeenth Edition
GRADING
Students will receive a grade for each quarter based on the following:
Tests and Projects: 80%
Quizzes and Class Participation: 20%
There is a heavy emphasis on testing in this class. If a student knows in advance that he or she may miss a test they should notify me at least two days in advance. If a test is missed, a make-up test or assignment will be given. The student is expected to complete this on a timely basis. In addition, students will participate in a stock market simulation, which will expose them to the forces that move the stock market.
EXPECTATIONS
Students should treat this class as their own. They should come to class having done the homework and prepared to contribute or ask questions in a thoughtful and mature way. I expect students to thoroughly understand the concepts taught in class and seek out help from me if they do not. They should respect the views of others and be open to challenging their own.
If a student misses a class, he or she should get class notes and assignment from another student. If a student is absent for reasons beyond his or her control and misses a deadline for an assignment, he or she may have a grace period equal to the number of days missed before the work is considered late. For example, if absent for two days a student will have two days to turn in any missed work. Any work turned in late will be assessed a 5% grade penalty for each day late. If a student needs an extension it should be requested at least two days before the assignment is due.
The best way to finalize their understanding of the material is to take as many practice questions as possible. Students are strongly advised to bookmark and use the following websites for further reinforcement of the concepts presented in class:
http://apcentral.collegeboard.com/
http://www.mhhe.com/economics/discoverecon/mcconnell17/
Finally, if a student needs help, has a question about an assignment, or needs to discuss upcoming work he or she should call me at home until 9 pm at 203-625-6331. You may send an email to me as well at rtaylor@brunswickschool.org. I try to respond to emails as quickly as possible.