AP Microeconomics is a course formulated to teach students to be aware of important concepts related to the functioning of a firm (business) within the economy. We will learn about universal concepts like Supply and Demand, Production Possibilities, and business-related concepts like costs, productivity, profit, loss, market models, and factors that affect these variables. Students will explore how businesses achieve maximum profit, when and why government regulation may or may not be justified in a market, and how to maximize productivity by using complementary resources in the correct proportions. For future business majors, this class is a gold mine!
Textbook:
Bade, R. & Parkin, M. (2015). Foundations of Economics – Seventh Edition. Boston: Pearson.
There is a class set of textbooks, with each student per period being assigned a certain textbook.
No books will be checked out. All students will have online access to textbook materials.
Students will receive weekly grades on class participation, behavior, and extra practice and homework. These grades will allow parents and students to track student progress throughout the grading period. Most practice grades will consist of online quizzes given on Skyward, Socrative.com, or both.
Summative Minor = 40%
Daily grades primarily consist of Bellringer assignments done during class. Bellringers are turned in on the last day of every week (usually Friday) unless there are extenuating circumstances.
Students who are absent do not have to make up the Bellringers for those days.
However, you can get a bad grade if you were only present for one or two Bellringers during a week and you did poorly on them, so you may complete the Bellringers for the day(s) you were absent to help pad your grade.
If you are absent for a Bellringer, write that you were absent for that Bellringer at the top of your Bellringer page before you turn it in on the last day of the week.
Two days after Bellringers are turned in a substitute assignment will have to be done for credit. This is to prevent cheating.
Quizzes will consist of twenty multiple choice questions taken from released AP tests.
Released AP multiple choice exams will be given. Full credit will be received for answering a proportion of the questions correct.
Summative Major = 60%
The tests consist of a multiple choice section (75%) and a math/graphing/free response section (25%).
Multiple choice questions will come directly from the notes, AP practice questions, and final exam questions.
Students will receive AP practice questions before the test. Some of them will be on the test. Some will not.
A six weeks notes grade will assess students’ in-class effort and effort applied toward study skills. The notes grade will count as a test grade and will be taken the Friday before the end of the six weeks. A rubric will be given to students the day before notes are due. If students have taken all of the class notes every day, then there is no need for the rubric.
Test retakes, when offered, can earn up to 70% credit. This 70% is achieved by multiplying retake raw grade by .7
Retakes will occur during lunch only. There is not enough time to take an AP Economics test between 8:00 AM and 8:25 AM.
Only in the most extenuating of circumstances will any exception to this rule be considered.
All students will be assumed to be taking the AP Microeconomics and Macroeconomics exams in May 2019. All AP test prep assigned in class will be for a grade for all students.
Rules and Expectations:
1.) All students should respect classmates, teachers, and guests to the classroom at all times. 2.) Students should not cheat, ever. Honesty counts. 3.) All school rules regarding cell phones, dress code, food and drink, and personal behavior are always in effect. 4.) Do your own work when you’re supposed to do it. Late work will lose credit fast. 5.) Treat others as you would like to be treated.
Tutorial Times:
Tutorials and make-up opportunities for missed assignments are held in Room 521 before school, from 8:00 to 8:25 AM, and over lunch. For other times, please contact Mr. Rust to schedule a meeting.
Course Timeline
Unit 1: Basic Economic Concepts (4 ½ weeks) Chapter 1: Getting Started (p. 1-30) Chapter 2: The U.S. and Global Economies (p. 31-56) Chapter 3: The Economic Problem (p. 57-80) Chapter 13: Consumer Choice and Demand (p. 315-342) Chapter 6: Efficiency and Fairness of Markets (p. 137-166)
Unit 1.5: Supply and Demand Chapter 4: Demand and Supply (p. 81-110) Chapter 7: Government Actions in Markets (p. 167-188) Chapter 5: Elasticities of Demand and Supply (p. 111-136)
Unit 2: Nature and Function of Product Markets; Perfect Competition (2 ½ weeks) Chapter 14: Production and Cost (p. 343-370) Chapter 15: Perfect Competition (p. 371-398)
Unit 4: Factor Markets (2 weeks) Chapter 19: Markets for Factors of Production (p. 483-507)
Unit 5: Market Failure and the Role of Government (3 weeks) Chapter 7: Government Actions in Markets (p. 167-188) Chapter 8: Taxes (p. 189-212) Chapter 10: Externalities (p. 241-264) Chapter 11: Public Goods and Common Resources (p. 265-290) Chapter 12: Markets with Private Information (p. 291-314)