Notebook

Contact

share 63K

Economics introdcution

AP Economics is a year-long college level economics course that encompasses both AP Microeconomics and AP Macroeconomics. Students who complete this course will be prepared to take the AP Microeconomics and AP Macroeconomics Exams that are administered by the College Board in May.

In preparation for this examination, this course will be divided into two parts approximately split along semester lines: the first semester will be devoted to the study of in six units of three to four chapters each, while the second semester will be devoted to the study of split into five units of two to three chapters each. There will be a cumulative test at the conclusion of every unit and both a Micro and Macro Review Examination.

AP Microeconomics introduces students to the cost-benefit analysis that underlies how economic decisions are made by individuals, firms, and organizational structures. Supply and Demand analysis is developed to demonstrate how market prices are determined, how those prices determine an economy’s allocation of goods and services, how factors of production are allocated, and how goods and services are distributed throughout the economy. The focus of this section of the course is the actions of consumers and producers as they interact in the resource and product markets.

We will evaluate decision-making by all actors, including the role of government intervention in this model.

AP Macroeconomics emphasizes economic principles as applied to the economy as a whole and includes an analysis of basic economic concepts revolving around scarcity, measurement of economic performance, national income and price determination, the financial sector, inflation, unemployment, and stabilization policies, economic growth and productivity, and international trade and finance.

Macroeconomics and Microeconomics will both emphasize critical thinking skills, the use and interpretation of complex graphic representations, and writing skills.

Basic Economic Concepts

Basic Economic Concepts

1.1 Scarcity

1.2 Resource Allocation and Economic Systems

1.3 Production Possibilities Curve

1.4 Comparative Advantage and Trade

1.5 Cost-benefit Analysis

1.6 Marginal Analysis and Consumer Choice

Supply and Demand

Supply and Demand

2.1 Demand

2.2 Supply

2.3 Price of Elasticity of Demand

2.4 Price of Elasticity of Supply

2.5 Other Elasticities

2.6 Market Equilibirum / Consumer and Producer Surplus

2.7 Market Disequilibrium and Changes in Equilibrium

2.8 The Effects of Government Intervention in Markets

2.9 International Trade and Public Policy

Supply and Demand

Supply and Demand

3.1 The Production Function

3.2 Short-Run Production Costs

3.3 Long-Run Production Costs

3.4 Types of Profit

3.5 Profit Maximization

3.6 Firms' Short-Run Decisions to Produce and Long-Run Decisions to Enter or Exit a Martket

3.7 Perfect Competition

Imperfect Competition

Imperfect Competition

4.1 Introdcution to Imperfectly Competitive Markets

4.2 Monopoly

4.3 Price Discrimination

4.4 Monopolistic Competition

4.5 Oligopoly and Game Theory

Factor Markets

Factor Markets

5.1 Introdcution to Factors Markets

5.2 Changes in Factor Demand and Factor Supply

5.3 Profit-Maximizing Behavior in Perfectly Competitive Factor Markets

5.4 Monopolistic Markets

Basic Economic Concepts

Basic Economic Concepts

1.1 Scarcity

1.2 Resource Allocation and Economic Systems

1.3 Production Possibilities Curve

1.4 Comparative Advantage and Trade

1.5 Cost-benefit Analysis

1.6 Marginal Analysis and Consumer Choice