This IS a college course, for all intensive purposes. You can get college credit for achieving a 3 to 5 on the AP exam (varies from college to college). We have A LOT of material to cover in a short period of time. Our goal is for YOU to do well both on the test and in your future endeavors. There will be reading, problems and homework. The small investment in time now will yield a big payoff in the end, though!
You need to know:
Basic Economic Principles
The Business Cycle: Measuring Economic Performance and Growth
National Income and Price Determination
Financial Sector
Inflation, Unemployment and Stabilization Practices (Fiscal and Monetary Policy)
International Trade and Finance
The class is structured:
Business Cycle: GDP, Inflation, Price Determination and Unemployment
Fiscal and Monetary Policy (how do we adjust for maximizing productivity in the Business Cycle)
Money and Banking (Federal Reserve, what is money, financial sector)
Economics of Trade (comparative and absolute advantage in trade; trade surpluses and deficits; exchange rates)
VOCABULARY is KEY!!!! Economics involves a LOT of different terms to describe different scenarios and components. You will have to learn acronyms ("Alphabet Soup"). I suggest regularly quizzing yourself on terms. It is just like learning any new skill - you have to repeat the material over and over again until you are proficient in it.
GRAPHS! We will do regular practice of both complex and basic graphs, but you will need to familiarize yourself with how to read them, how to make them and how to determine what a question is asking for.
PLEASE CHECK OUT THE AP STUDY BOOKS IN THE ROOM! There are a couple of different editions and I have the answers for the problems. The Macroeconomics section coincides well with the class:
Basic (GDP, Unemp, Inflation) - p. 203
Business Cycle (Fiscal Policy, Multipliers) p. 223
Banking p 243
Theory (Long, short run, Philips curve, AGS and AGD, Time value) p 267
International trade (currency exchange, comp/abs advantage, balance of payments( p 301
You need to know:
Basic Economic Principles
The Business Cycle: Measuring Economic Performance and Growth
National Income and Price Determination
Financial Sector
Inflation, Unemployment and Stabilization Practices (Fiscal and Monetary Policy)
International Trade and Finance
The class is structured:
Business Cycle: GDP, Inflation, Price Determination and Unemployment
Fiscal and Monetary Policy (how do we adjust for maximizing productivity in the Business Cycle)
Money and Banking (Federal Reserve, what is money, financial sector)
Economics of Trade (comparative and absolute advantage in trade; trade surpluses and deficits; exchange rates)
VOCABULARY is KEY!!!! Economics involves a LOT of different terms to describe different scenarios and components. You will have to learn acronyms ("Alphabet Soup"). I suggest regularly quizzing yourself on terms. It is just like learning any new skill - you have to repeat the material over and over again until you are proficient in it.
GRAPHS! We will do regular practice of both complex and basic graphs, but you will need to familiarize yourself with how to read them, how to make them and how to determine what a question is asking for.
PLEASE CHECK OUT THE AP STUDY BOOKS IN THE ROOM! There are a couple of different editions and I have the answers for the problems. The Macroeconomics section coincides well with the class:
Basic (GDP, Unemp, Inflation) - p. 203
Business Cycle (Fiscal Policy, Multipliers) p. 223
Banking p 243
Theory (Long, short run, Philips curve, AGS and AGD, Time value) p 267
International trade (currency exchange, comp/abs advantage, balance of payments( p 301