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Advanced Placement Macroeconomics Syllabus

Dobyns-Bennett High School, Kingsport, Tennessee

Contact Information:
Mr. Cort Mills, Room 179
School Website: k12k.com/db
(423) 378-8400
Course Website: http://cortssocialstudies.weebly.com/
I. Course Scope
The purpose of the AP course in macroeconomics is to give students a thorough
understanding of the principles of economics that apply to an economic system as a whole. The
course places particular emphasis on the study of national income and price-level determination,
and also develops students familiarity with economic performance measures, the financial
sector, stabilization policies, economic growth, and international economics. (The College
This course will prepare you for an introductory and some intermediate college courses in
economics. You may potentially earn 3 university credits upon passing the AP. Extensive math
skills are not required. However, the ability to analyze equations, mathematical and accounting
identities, graphs and charts is essential.
II. Materials
A. Textbook/Resources:
Mankiw, N. Gregory. Principles of Economics. 6th ed. South-Western/Cengage Learning, 2012.
B. Supplemental materials
Items, such as political and historical documents, writings, documentaries, bibliographies will be
used throughout the semester. These will be supplied by the instructor, or directions will be given
so the students can obtain such records online.
C. Required items:
Three-ring binder
College-ruled notebook paper
Pens and #2 Pencils
D. Suggested items
A few colored pencils
Graph Paper (3-holed punched)
Notebook Dividers
Post-it notes
Cornell Notes formatted notebook paper would be most helpful to you.

Econ AP/AP Macroeconomics Syllabus - MillsPage 1

III. Course Outline

(Based on
Unit 1


Thinking like an Economist
Scarcity: choice, opportunity cost,
Production possibilities frontier/curve





1, 2, 3,


23, 24,


5 -10%


26, 27,
29, 30


Market interaction (Supply, Demand,

Unit 2

Unit 3

Unit 4

Measuring Economic Performance

Circular flow
Gross Domestic Product
Real v. Nominal
Nominal and Real
Costs of Inflation
Types of Inflation (Demand-Pull, CostPush)
Role of Expectations
Types of Inflation (Demand-Pull, CostPush)
Natural Rate
Economic Growth
Investment in Capital (Human and
Research and development,
Growth policy

Financial Sector
Money, banking, financial Markets
Definition of financial assets
Time value of money (present and
Measurements of money supply
Creation of money by banks

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Money demand and market (Ch. 34)

Loanable funds market
central bank and control of the money
quantity theory of money
Real v. Nominal interest rates
(Based on
Unit 5

Unit 6


International Trade
Balance of payments
Foreign exchange market
Demand for and supply of foreign
Exchange rate determination
Appreciation v. depreciation
Net exports and capital flows
Links to financial and goods market

Short-run economic fluctuations

Business cycle
Aggregate Demand
Multiplier and crowding out
Aggregate Supply
Short-Run and long-run
Sticky v. Flexible prices and wages
Macroeconomic equilibrium
Real output and Price Level
Short-run and Long-run
Actual v. Full employment output
Fiscal and Monetary Policies
Demand-side Policy
Supply-side Policy
Policy mix
Government deficit and debt (Ch. 26)
Phillip's curve: short and long run
Role of expectation
Practice AP Macroeconomics Exam

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9, 31,


33, 34,




(Advance Placement Teachers Resource Guide for Mankiws Principles of Economics, prepared
by Julie Meek, p. xiv-xv.)

IV. Methodologies and criteria for grading

This course will include varied techniques for instruction. These methods will include, but not
- Tests and quizzes
- Problem Sets
- In-class activities
- Cooperative group work
- Chart/graph work
- Video presentations
- Lecture and discussion
- Notebooks
A. Tests and Quizzes
A 10-15 question quiz will offered after each chapter. A 30-38 question test will be offered after
each unit. In both cases, questions are worth 1 point. Multiple choice questions and data based
questions will be selected from past AP exams and AP-like questions prepared by our text
publisher and by other sources. We will learn to think like economists and AP graders. After
each test and quiz, we will analyze how the questions were constructed and the answers were
B. Problem Sets
Problem Sets are essentially take home practice questions that require you to explain and apply
the concepts discussed in class and in your book. Each problem set will contain at least two Free
Response Questions (FRQs) similar to those given on the AP Exam.
C. In-class activities
These are not graded. Yet, we will work as a team and in teams. Working with partners and
small groups will help you investigate and understand complex concepts. Also, in-class activities
are intended to provide opportunities for practice and mastery of content.
D. Make-up Policy
After any absence, a student is required to initiate contact with me on the day immediately
following the absence to obtain appropriate makeup work. Specific make-up work must be
completed and returned to me within a reasonable length of time, to be determined by me and
communicated to the student. Usually, three days is a reasonable amount of time to complete
work missed due to an absence. The make-up work must be returned to me by the specified due
date if it is to be acknowledged.
Any assignment given prior to an absence is due the first day of the students return. Special
cases will be accepted, but this is at the teachers discretion.
E. Notebooks
It is not my intention to check notebooks on a regular basis. However, I will spot-check
students from time-to-time to ensure compliance. How you construct and use the notebook is
your own choice. I believe you will find an organized and up-to-date notebook to be a useful tool
for achieving success in this course. Keep a section just for essential graphs and equations.
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F. Homework
You may expect homework on a daily basis. This may include reading, preparing for a quiz,
reviewing for a test, completing chapter problem sets, reviewing notes from the days class, or
any other exercise I might assign. My inclination is to give you work for the week that you will
do throughout the week. I expect that you will be responsible and work nightly on the
assignments. I will announce when certain assignments must be completed to be aligned with our
class discussions and activities. If you have not prepared for class when a quiz or test is given,
the consequence is on your shoulders. I come to class prepared. Please do the same.
Tip: If you have all the assigned homework complete, I suggest you spend 10 minutes reviewing
what we discussed in class that day. Be sure you understand the material, prepare questions to
ask in class for the next day, look for applications to current economic news, and anticipate what
we will be discussing.
G. Expectations on assignments
Your name, class period, date, correct spelling, correct grammar, neatness, and following
directions are required on ALL assignments. Failure to adhere to these standards will result in a
loss of points. Details are important to AP Macroeconomics graders. Be detail oriented.
H. Extra Credit
My best advice is for you to study routinely and especially before announced quizzes and tests. It
is not my general policy to offer extra credit. If a student requests an extra credit opportunity to
counter balance a poor score on a test, it is my inclination to ask the student to explain in writing
a graph or a data table, from the National Bureau of Economic Analysis, or an article that
requires the student know the same material that was required for the test. This is at my sole
discretion. Information will be given when appropriate.
I. Grading Policy
Assignments will also be graded with the total points available determining the weight for that
particular assignment.
Grading Scale:

A: 93-100
B: 85-92

C: 75-84
D: 74-70

F: 70 or Below

Your nine-week grade will be based on a cumulative point system and the percentage of the total
points earned. Total points available will vary each nine-week period.
V. Classroom Behavior and Expectations
As all of you are experienced at being in the classroom, all of you should know what is expected
of you. However, here are some of the general rules pertaining to this class:
1. Show respect to faculty, staff, and other students at all times.
- This includes raising your hand to be called upon and not interrupting while
others are speaking.
2. No racial or ethnic slurs, nor sexually suggestive language, will be tolerated at any
3. Be prepared to start class at the appropriate time.
- This includes having all of the appropriate supplies and assignments.
4. No unauthorized work on electronic devises.
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- This includes visiting websites that are deemed inappropriate by the

5. No food or drink is allowed in the classroom.
6. Students can only leave the class with a hall pass.
7. All of the other school policies printed in the Parent/Student Handbook will be
adhered to at all times.
I expect to coach you toward success. When cooperation is absent in a students behavior, for the
good of the student and the class, I will take action. Each case is different, but I will use these
alternatives as they seem most appropriate.
1. Verbal warning
2. Rearrangement of seats
3. Conference with the teacher
4. Contact a coach or music director.
5. Notification call to parents
6. Referral to a principal

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