AP Microeconomics

Syllabus
Miss Whitaker Bedford North Lawrence High School whitakerh@nlcs.12.in.us 812.279.9756

Text: Colander, David C. (2010). Microeconomics, 8th Edition., New York: McGraw-Hill Irwin Course Description: This is a one semester introductory course in microeconomics. It is designed to prepare students for the demands of college level courses as well as prepare them to take the AP Microeconomics exam at the end of the course. Microeconomics looks at detailed components within the economy. We want to determine how individual units such as industries, households, and firms operate and make decisions. The goal is to look specifically at their operations; expenditures, production, output, revenue, and employment. In other words, the focal intent is to unearth what makes these units tick and then look at how their actions affect the economy. In this process we will use graphical economic models to advance our study. Microeconomics looks at the economy under a microscope and builds to an understanding of how this affects the larger picture. The evaluation of the large picture is left to macroeconomics.

Expectations: This is a college level course. As such, you are responsible for any information given in class as well as all reading and homework assignments. In order to effectively participate in class and to succeed on our daily quizzes you must keep up with all requirements. In addition to reading you will be required to complete problem sets at the end of each chapter which will require you to create and interpret graphical models. Students are strongly encouraged to maintain a binder for their reading notes, class notes, assignments and handouts. It is also your responsibility to see me or another classmate to catch up on material if you miss class. Should you miss a test or a quiz, it is your task to arrange a time to make up the assessment when you return. Web Resources: www.apcentral.collegeboard.com www.reffonomics.com www.bls.gov www.ncee.net www.federalreserveeducation.org www.classroomedition.com www.stosselintheclassroom www.oyc.yale.edu http://welkerswikinomics.com/home.htm http://connect.mcgraw-hill.com

Additional Readings: Wall Street Journal Magazine Articles Local Newspaper Evaluation: Tests...70% Daily Quizzes and Writing Assignments.. 30% General Evaluation Guidelines: Throughout the course students will be expected to create and interpret graphical models as they relate to each unit being studied. These will be both independent and collectives investigation. Throughout each unit students will further delve into a deeper study of graphical models by completing the book provided problem sets. Students will take daily quizzes over their reading assignments. Students will complete writing assignments relating models and concepts being studied to current events.

Course Outline: Unit 1: Introduction to Economic Concepts (Weeks 1-2) Chapter 1: Economics and Economic Reasoning Chapter 2: The Production Possibility Model, Trade, and Globalization Chapter 3: Economic Institutions Unit 1 Mini Test: 75 Points Unit 2: Supply and Demand Models (Weeks 3-5) Chapter 4: Supply and Demand Chapter 5: Using Supply and Demand: Chapter 7: Describing Supply and Demand Elasticities Units 2 Test: 100 Points Unit 3 : Individual Choice & Production Analysis (Weeks 6-9) Chapter 10: The Logic of Individual Choice: The Foundation of Supply & Demand Chapter 11: Game Theory, Strategic Decision Making and Behavior Economics Chapter 12: Production and Cost Analysis I Chapter 13: Production and Cost Analysis II Units 3 Test: 100 Points Unit 4: Market Structure (Weeks 10-13) Chapter 14: Perfect Competition Chapter 15 Monopoly Chapter 16: Monopolistic Competition and Oligopoly Chapter 17: Real-World Competition and Technology Chapter r18: Antitrust Policy and Regulation Units 4 Test: 100 Points

Unit 5: Factor Markets (Weeks 14-15) Chapter 19: Work and the Labor Market Chapter 19W: Nonwage and Asset Income: Rents, Profits, and Interest Chapter 20: Who Gets What? The Distribution of Income Units 5 Test: 100 Points

Unit 6: Applications to Policy (Weeks 16-18) Chapter 8: Taxation and Government Intervention Chapter 21: Market Failure vs. Government Failure Chapter 23: Microeconomic Policy, Economic Reasoning and Beyond Semi Comprehensive Final: 100 Points