The purpose of an Advanced Placement 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 larger 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 year all economic AKS objectives will be covered.  These objectives are provided on the final page of the syllabus.

 

Materials:

            In order to be fully prepared, students are expected to have their notebooks (one with pockets to hold  many handouts), pens or pencils , and textbook in class everyday.  You will be advised ahead of time if you need any additional materials.

 

                        Grading Procedures:

            Students will be assessed in a variety of ways.  This may include but not be limited to homework, worksheets, quizzes, tests, daily work, projects (both individual and group), class participation, and a final exam.  The break down of these grades will be as follows:

                        Final exam:                   20%  (as directed by county)

                        Tests:                           50%.

                        Daily Activities:            30%

            At the beginning of each six weeks each student will be given 30 daily points.   Up to six times each six weeks I will spot check assignments to see if students have completed their homework.  If your assignment is not completely finished (and shows that thought was put into it) then you will lose five of those 30 points.  In addition, I will take up some assignments and grade for correctness.   I would expect to have around 300 total daily points.   This accounts for 30% of your grade.

 

            Note: The teacher reserves the right to make adjustments in course content and/or grading procedures as needed.

CLASSROOM RULES AND PROCEDURES

 

            School Policies/General Information:

- All school policies will apply in the classroom.  This includes the policy on food, drink, candy, gum and hats in the classroom.

 

- The grading  scale for the class will be the one set forth by the school.

 

            Class Preparation:

- Students are expected to be in their assigned seats when the bell rings.  Failure to abide by this will result in the student being sent to the stamp table. 

 

            Classroom Behavior:

- This class is conducted like a college level classroom.  You are expected to participate in all activities.  

 

- Upon leaving, students will be expected to pick up any trash around their desks.

 

- Unless it is an extreme emergency no bathroom passes will be issued. 

 

            Homework:

- Homework will be a part of this class.   Homework, reports and projects will be accepted late at a penalty of 25% per day. If you have an excused absence, pre assigned work is due the day you return.  No work will be accepted for unexcused absences.

 

- Any work turned in with no name will have 25% taken off.

 

            Grading:

- Students with excused absences will have five class days to makeup homework, tests or exams.  Failure to makeup a test within five days will result in a zero.  Makeup work is your responsibility.

 

            High school students tend to study independently while college students tend to study in groups.    This is a college level class.  Study in groups!!!.     However,  honesty is expected on all work.  Only your work will be accepted.  Copying someones homework is not studying together and is considered cheating and will be dealt with accordingly. 

 

                         

 

            SUMMARY OUTLINE: AP MICROECONOMICS COURSE AND EXAMINATION

 

                        Content Area                                                                      % goals of examination

I. Basic economic concepts                                                                                                                                              8-12%

   A. Scarcity: the nature of economic systems

   B. Opportunity costs and production possibilities

   C. Specialization and comparative advantage; the basis for international trade

   D. The functions of any economic system (what, how and for whom to produce)

 

II. The nature and functions of product markets                                               60-70%

   A. Supply and demand (15-20%)                   

       1. Price and quantity determination

       2. Basic manipulation of supply and demand, including ceilings and floors

       3. Elasticity

   B. Models of consumer choice (5-10%)

       1. Consumer choice behind the demand curve

       2. Consumer surplus

   C. Firm production, costs, revenues (10-15%)

       1. Marginal product and diminishing returns

       2. Average and marginal costs and revenues

       3. Long-run costs and economies of scale

   D. Product pricing and outputs, both in the individual firm and in the market (25-30%)

       1. Perfect competition

       2. Imperfect competition

           a. Monopoly

           b. Oligopoly

           c. Monopolistic competition

   E. Efficiency and government policy toward imperfect competition (5-10%)

 

III. Factor markets                                                                                                                                                  10-15%

   A. Derived factor demand  

   B. Determination of wages and other factor prices

 

IV. Efficiency, equity, and the role of government                                                 8-12%

       1. Externalities

       2. Public goods

       3. Distribution of income

                                                                               

            Note: The teacher reserves the right to make adjustments in course content and/or grading procedures as needed.

 

 * The above curriculum guide comes from the college board acorn book.