AP MACROECONOMICS
Syllabus 2016-2017
Mrs. Dawn Patterson
I: Course Description
This is a yearlong course in macroeconomics. The course will give students a thorough understanding of the principles of macroeconomics, taking a look at the “big picture” of the economy. Macroeconomics is the study of the economy as a whole or its basic subdivisions or aggregates such as the government, households, or business sectors. The course focuses on measurement tools, aggregate production, and income, the use of fiscal and monetary policy, economic growth, and international trade. Students will build on their knowledge of economics from Civics by delving deeper into the effects and impact of economic analysis, government spending, and globalization.
This is an Advancement Placement class which has an exam on May 10, 2017. Students must pass the AP College Board exam to be eligible for college credit.
II: Course Goals and Objectives:
The course analyzes and studies the principles of economics that apply to an economic system as a whole. Specific topics and objectives learned are the study of national income and price-level determination, economic performance measures, the financial sector, stabilization policies, economic growth, and international economics.
III: Class Materials
Expect to read 10-20 pages for each class period.
Textbook; Margaret Ray and David Anderson. Krugman's Economics for AP.
Video Series: FED Videos on Money and Inflation
The Great Degeneration by Naill Ferguson ( Pre Exam Assignment)
Class Activities
· David Anderson. Economics by Example, New York: Worth Publisher, 2007
· Strive for a Five. Student Workbook -recommended
· Edge.edx.org- blended learning tutorials
· Wall Street Journal Newspaper -recommended
· Exercises (Module AP Review, Take the Test: Multiple –Choice Questions, Take the Test: Free-Response) included in textbook
· Quizzes, Unit Testing, Multiple Choice Questions and Free Response Practice
· Other websites as needed or determined
In addition to the paper texts, we will be accessing digital resources at home and at school. There will be a code given for the online text as well as other resources such as an interactive glossary. Students must visit Mrs. Patterson’s website nightly to get updates on assignments. Remind 101 is used to communicate important information but it is the students’ responsibility to follow all deadlines.
The use of technology is used in class and for home assignments. We will use Chrome Books now and then for in class assignment. Here are a few rules to follow for in class and at home:
1. Students must stay on approved and relevant websites and programs during class time. Random checks will be made to make sure students are staying on task. Any infringement will result in no technology being used for the whole class the remainder of that class day and the following one.
2. Use of technology to cheat, view pornography, bully other students, or any other inappropriate action will result in the fullest possible consequences from school administrators.
3. Technology failure at school or at home is the responsibility of the student. If a technology failure occurs at home that prevents a student from turning in an assignment on time the student must contact Mrs. Patterson as soon as possible.
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IV: Curriculum Calendar/ Content Guide
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1. Basic Economic Concepts ( 7 days) (8-12%)
Module 1. The Study of Economics
Module 2. Introduction to Macroeconomics
Module 3. Production Possibilities Curve
Module 4. Comparative Advantage and Trade
2. Supply and Demand (8 days) (8-12)
Module 5. Supply and Demand: Intro and Demand
Module 6. Supply and Demand: Supply and Equilibrium
Module 7. Supply and Demand: Changes in Equilibrium
Module 8 & 9: Price Controls and Quantity Controls
3. Measurement of Economic Performance ( 10 days) (12-16%)
Module 10. Circular Flow and Gross Domestic Product
Module 11. Interpreting Real Gross Domestic Product
Module 12. The Meaning and Calculation of Unemployment
Module 13. Causes and Categories of Unemployment
Module 14. Inflation: An Overview
Module 15. The Measurement and Calculation of Inflation
4. National Income and Price Determination ( 9 days) (10-15%)
Module 16. Income and Expenditure
Module 17. Aggregate Demand: Introduction and Determinants
Module 18. Aggregate Supply: Introduction and Determinants
Module 19. Equilibrium in Aggregate-Demand-Aggregate Supply Model
Module 20. Economic Policy and the Aggregate Demand- Aggregate Supply Model
Module 21. Fiscal Policy and the Multiplier
5. The Financial Sector ( 10 days) ( 15-20%)
Module 22. Saving, Investment, and the Financial System
Module 23. Definition and Measurement of Money
Module 24. Time Value of Money
Module 25. Banking and Money Creation
Module 28. Money Market
Module 29. Market of Loanable Funds
Module 26. The Federal Reserve System: History and Structure
Module 27. The Federal Reserve: Monetary Policy
Midterm Exam
6. Inflation, Unemployment, and Stabilization Policies (10 days) ( 20-30%)
Module 30. Long-run Implications of Fiscal Policy: Deficits and the Public Debt
Module 31. Monetary Policy and the Interest Rate
Module 32. Money, Output, and Prices in the Long Run
Module 33. Types of Inflation, Disinflation, and Deflation
Module 34. Inflation and Unemployment: The Phillips Curve
Module 35. History and Alternative Views of Macroeconomics
Module 36. Modern Macroeconomic Consensus
7. Economic Growth and Productivity ( 5 days) ( 5-10%
Module 37. Long-Run Economic Growth
Module 38. Productivity and Growth
Module 39. Growth Policy: Why Economic Growth Rates Differ
Module 40. Economic Growth in Macroeconomic Models
8. Open Economy: International Trade and Finance (8 days ) (10-15%)
Module 41. Capital Flows and the Balance of Payments
Module 42. The Foreign Exchange Market
Module 43. Exchange Rate Policy
Module 44. Exchange rates and Macroeconomic Policy
Module 45. Putting in all Together
9. Final Exam Review (6-7 days)
Collaborative Review
Review games/ activities
Current Event Project Due
10. Post-exam Project (6-7 days)
Analysis of a Presidential Administration
The Great Degeneration by Naill Ferguson
Socratic Seminar on book by Ferguson.
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V: Assessment:
The AP Exam:
It is expected that all students will take the AP Macroeconomics exam scheduled in May. Review sessions will be held in April and will include test taking strategy and practice tests as well as content review.
The AP Macroeconomic exam consists of two parts. The first part is a 70 minute multiple choice text, the second part is a 60 minute free response section. When answering the free response students should use clear and concise language. Students may be asked to interpret graphs, or draw graphs to illustrate their analysis. Graphs must be properly labeled. Students must follow verb prompts and answer appropriately. For example:
• “Show” means to use a diagram to illustrate your answer. Correct labeling of all elements including the axes of the diagram is necessary to receive full credit.
• “Explain” means to take the reader through all of the steps or linkages in the line of economic reasoning. Graphs and symbols are acceptable as part of the explanation.
• “Identify” means to provide a specific answer that might be a list or a label on a graph, without any explanation or elaboration.
• “Calculate” means to use mathematical operations to determine a specific numerical response, along with providing your work.
Grading
With the introduction of PowerSchool, CMS has a grading structure based on 70% formal and 30% informal assignments.
70% Formal Assignments: Tests and Quizzes, Major Projects
Tests: There will be eight Unit tests in addition to a midterm and the AP Exam. The format will mimic the AP Exam with half of the points from the multiple choice questions and the other portion from free response questions. There will be an essay due in the 3rd quarter on the Housing Crisis. This will count as a test in 4th quarter.
Quizzes: Quizzes are given the beginning of each class as a warm up. Quizzes will assess understanding from the assigned reading and previously taught material. Quizzes will be five to ten questions worth 2-3 pts each. Some quizzes will be open note, or have bonus questions. The purpose of the quiz is for students to keep up with their textbook readings, make notes relevant to them, and give them practice with the content.
30% Informal Assignments: Class work, projects, homework
There will be several types of informal assignments; article readings, class work, and a reading assignment. Students will form study groups and complete group assignments for an informal grade.
Late Assignment Policy: Assignments will have a specific time window for submission. Late assignments are accepted but with a 20% penalty for the first class day late, 50% penalty for two class days late, and will not be accepted after that.
Absences: When students are absent they are responsible for any notes or assignments given in class. Students should confer with their study group members about what is missed and collect notes from their study members. Students have 5 days to make up a missed quiz or test. Students who miss a test will take a different version of the test on make-up day. A zero will be entered into power school until the assignment or assessment is fulfilled.
Students will have study groups they will use for in class activities and assignments. Collaborative learning is expected and will enhance the learning experience.
Expectations for the classroom:
1. Come prepared. Read the assignments daily; complete the end of chapter summary questions. Familiarize yourself with the syllabus.
2. You can have water in class but no food.
3. Electronic devices are welcome (tablets and laptops) but no cell phones unless I ask to get them out for an instructional reason. No electronic devices will be permitted on tests or quizzes.
4. Participation in class is expected. You will have study groups to help with reinforcing the material, and that requires all members to contribute to the group’s learning.
5. Ask for help. We are a team-teacher and students. If I don’t know the answer I will find it. Use your study group for assistance. Come to tutoring. Use the on line resources available to you as well.
6. Be here or go it alone. The pace of the course is intense and I won’t have time to re-teach a missed class period. I will post power points on the wiki and give you the schedule of topics and readings on the wiki, have you consult with your peers who are present ( there are 30 of them, 1 of me), give you the handouts or activity, and then schedule a short debriefing with me if you have questions.
7. DO NOT LIE OR CHEAT. Remember there are two things you possess that only you can throw away-your integrity and work ethic. Make wise choices. Be fair and be kind.
Contact Information:
Website: http:// dawnppatterson.cmswiki.wikispaces.net/
Honor Code:
Students will be expected to abide by the standard: “I have neither given nor received help on this assignment.” Violations of this Honor Code Pledge will result in a zero on the assignment, parental notification, a disciplinary referral, and sanctions to be determined by the administration. (See Student Handbook for all code of ethic rules and actions). This includes but is not limited to: plagiarism and giving or receiving help on quizzes, tests, or other assignments unless designated as collaborative explicitly by the instructor.
Each student will be given a cover sheet to have in the front of their notebook. This cover sheet will be used on every quiz and test given in class.
Please read and sign and turn in to Mrs. Patterson by Friday.
“I hereby acknowledge that I understand all the requirements for this class. I know what I need to do in order to do well in this class. If I do not follow all the requirements and expectations, I may not do as well as I or my parents/guardian may like.” J
Student signature________________________________________ Date _________________________
Parent signature ________________________________________ Date _________________________
Parent Contact information:
Name _____________________________________ Phone Number _____________________________
Email: _________________________________________
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