Damien High School
Advanced Placement Economics
Mr. Ballingall
PURPOSES: The purposes of A.P. Economics are:
1.To provide the student with a basic understanding of macroeconomic and microeconomic theory.
2.To introduce the student to the economic way of thinking, and to economics as a science.
3.To expose the student to the many useful applications of economics in our present political economy.
4.To inform the student about the economic issues faced by the United States today.
5.To prepare the student for the Advanced Placement Examinations in Microeconomics and Macroeconomics.
CLASSROOM CONDUCT: I expect each of you to be present and on time for class every day (regardless of the temptations and opportunities available to seniors to miss class). I expect you to be attentive when I or any of your classmates is speaking. I expect you to listen carefully to everything that is said and to be able to respond to everything that is said. I expect you to take notes each day and bring the textbook (Krugman’s Economics for AP, by Anderson and Ray) and your materials to class. I expect you NEVER to sleep or do other work in my class. I expect you NEVER EVER to even think of bringing food or drink in to the classroom. CELL PHONES MUST BE TURNED OFF DURING CLASS. Above all, I expect you to respect the views of your classmates and myself.
COURSE HOME PAGE. All assignment sheets, homework questions (when not in the textbook) and many other handouts will be posted on the class webpage, which is at the Damien HS website. Additional context, including all review materials, will be posted on the course Moodle page. All students should register as members at the Moodle home page for this class.
GRADING: Grades will be based on a weighted point system. Each element of the grade will be weighted as follows:
TYPE OF ASSIGNMENT / POINTS / PERCENTAGETESTS AND QUIZZES / 80 to 100 points each / 60% of the total grade
SEMESTER FINAL EXAM / 150 points / 15% of the total grade
HOMEWORK / 5-10 points each / 20% of the total grade
CLASS NOTEBOOK / 20 points, twice per semester / Included in homework grade
GROUP PROJECT / Corporation Study Project (1st Sem) / 5% of the total grade
The percentage scale used to assign final grades is as follows:
A: 90-100%B: 80-89%C: 70-79%D: 60-69%F: 0-59%
No extra credit work will be available in this class, but an extra credit movie will be shown in the First Semester.
TESTS: Tests will consist of a combination of multiple choice, short answer and essay questions. Each test will be worth from 80-100 points. At the end of each semester, the final examination period will be used to give a 150 point semester final. Departmental test days: Tuesday (regular schedule), Thursday (regular and block schedules), Friday (block schedule).
HOMEWORK: Homework will be in the form of textbook problems, handout problems, policy questions, or essays. Homework will be collected and checked regularly. THIS IS NOT BUSY WORK. It is vital to your understanding of the material. When doing homework, please write on standard notebook paper, in pen.
KEY GRAPHS: Occasionally the assignment sheet will include a notation for a “Key Graph.” This will be turned in as homework. Key Graphs are the most important graphs, standard in all courses and the A.P. Syllabus. It is vital that you have practice in drawing these graphs, and they will be graded strictly.
THE CLASS NOTEBOOK. Your class notebook is to be a three-ring binder. The following material should be kept in it, IN CHAPTER OR SECTION ORDER:
1. All class lecture notes.4. All supplemental readings and other handouts
2. All homework assignments.5. All quizzes and tests
3. Key Graphs.
Your notebook must be neat and orderly. Obviously, given the comprehensive nature of the A.P. examination, you will be required to keep all class materials until the end of the school year. Your notebook will be collected and graded at the conclusion of each quarter, and may be inspected periodically in class.
MAKE-UP POLICY:
Students absent from regular class sessions are responsible for acquiring the notes from that session as soon as possible.
HOMEWORK: After an absence, a student is allowed a minimum make-up time, in school days, equivalent to the number of school days missed during the absence, to complete any assignments missed.
TESTS: Students are responsible for seeing me on the day they return to class after missing a test to arrange for a make-up. Students absent on a previously announced full-period test day may be required to make-up the test on the day they return to class. Students absent the day before a test will be expected to take the test with the rest of the class.
UNEXCUSED ABSENCES/TARDIES: It is within my discretion to assign a “0” grade for any work missed as a result of an unexcused absence or tardy.
LATE WORK POLICY: Homework assignments turned in late will be penalized half credit, and may be turned in for partial credit until the test that ends the particular section the assignment is in. After that, NO CREDIT will be given.
HONESTY: Many have argued that economics is a selfish, unethical science, since it makes the assumption that humans are only after their own self-interest. Nevertheless, codes of ethics have become an integral part of business, finance, and economic practices in America today. Without adherence to these codes, our economic institutions would fail. Similarly, I expect all of you to exhibit the highest form of personal honesty. I assume that you are honest until I am given a reason to believe otherwise. Once trust is destroyed, it will be almost impossible to rebuild. I expect you to do your own work, always. This includes homework assignments as well as quizzes and tests.
First offense:0 points for assignment, quiz, test.
Subsequent offenses:An automatic F grade for the grading period and a U in conduct.
THE ADVANCED PLACEMENT EXAMINATION: The A.P. exams will be administered on Wednesday, May 11, 2016 (Macro), and Friday, May 13, 2016 (Micro), at a location to be announced. Registration for the exams will take place in February. Examinations in Microeconomics and Macroeconomics are offered, and must be paid for separately. Students are encouraged, but not required, to take the exams. The exam consists of two parts: a multiple choice section (70 minutes), and a free response section, in which students are required to answer three free-response questions (50 minutes).
COURSE TOPICS
FIRST SEMESTER
INTRODUCTION
1. Introduction to economics (Section 1)
2. Supply and demand (Section 2)
MICROECONOMICS
3. Demand: Elasticity and consumer behavior (Section 9)
4. Business costs (Section 10)
5. Profit maximization: Perfect Competition (Section 11)
6. Profit maximization: Less competitive markets (Sections 11 & 12)
8. Factor markets (Section 13)
9. Market failure and the role of government (Section 14)
SECOND SEMESTER
MACROECONOMICS
1. Measuring economic performance (Section 3)
2. Determination of national income (Section 4)
3. Aggregate demand and aggregate supply (Section 4)
4. Fiscal policy (Section 4)
5. Money, banking, the financial system (Section 5)
6. Monetary policy (Section 5)
7. Controversies in macroeconomics (Section 6)
8. Economic growth and productivity (Section 7)
9. International economics (Section 8)