1. AP Economics Mr. Bernstein Class Outline September 4, 2014

2. AP Economics Mr. Bernstein Overview This is a course in theory and the economic way of thinking more than application-based course First AP Econ course was offered in 1989. 2,583 students took the Micro test and 3,198 took the Macro test. In 2012, 62,351 students took the Micro test and 99,903 too the Macro test. (CGR = ???) Over 3,300 high schools offer AP Micro and over 4,000 offer AP Macro (vs 13,000+ offering AP Calc and 12,000+ offering AP US History) 2

3. AP Economics Mr. Bernstein Overview Average AP scores: 80-100A 65-80B 50-65C 40-50D 2012 mean scores were 3.0 and 2.8 2012 students were ~60% male and ~80% seniors 3

4. AP Economics Mr. Bernstein Course Goals Explain Microeconomic principles such as supply and demand, laborers and wages, and market structures Explain Macroeconomic principles such as unemployment, inflation, economic measurements, and the role of government in the economy Understand how decisions by individuals and government affect the economy Analyze economic models and draw conclusions from them Attain the necessary knowledge and skills to successfully take the AP Economics Exam 4

5. 1. Course Outline – Marking Periods 1-2: Microeconomics – Unit 1: Basic Economic Concepts – Unit 2: Supply and Demand – Unit 3: Behind the Demand Curve: Consumer Choice – Unit 4: Behind the Supply Curve: Profit, Production & Costs – Unit 5: Market Structures: Perfect Competition & Monopoly – Unit 6: Market Structures: Imperfect Competition – Unit 7: Factor Markets – Unit 8: Market Failure and the Role of Government 5 AP Economics Mr. Bernstein

6. 1. Course Outline, cont. – Marking Periods 3-4: Macroeconomics – Unit 1: Measurement of Economic Performance – Unit 2: National Income and Price Determination – Unit 3: Inflation, Unemployment and Stabilization Policies – Unit 4: The Financial Sector – Unit 5: Economic Growth and Productivity – Unit 6: The Open Economy: International Trade and Finance 6 AP Economics Mr. Bernstein

7. 2. Resources – Textbook: Krugman’s Economics for AP, 2011, Ray and Anderson – Reffonomics.com Economics University self-paced quizzes – Council for Economic Education AP Economics Activities – Previously released AP Economics test questions – others 7 AP Economics Mr. Bernstein

8. 3. Classroom Routine – Daily Structure – Behavior – Electronic Devices 4. Grading – 20% Exams / 40% Quizzes/ 20% Homework / 20% Class Participation – Quiz corrections, Extra Credit may be offered – MP4 has only one quiz plus AP Exams 5. Makeup Policy – Tests and Quizzes must be made up following day – Plan ahead 8 AP Economics Mr. Bernstein

9. 6. EI (Extra Instruction) – A. Before or After school – arrange with me – B. Extra effort will be considered 7. Additional Opportunities – A. Investment Club – B. Business Academy – C. FBLA 9 AP Economics Mr. Bernstein

10. 8. The AP Exams –Each test is 2 hours and 10 minutes –Test dates are Thur. May 14, 12 noon (Macro) and Fri. May 15, 8 am (Micro) –60 multiple choice questions (70 minutes) –3 Free Response questions, 1 long and 2 short (10 minute reading time plus 50 minutes to answer) –MC = 2/3 of grade –FRQ = 1/3 of grade –Average FRQ score is <50% 10

11. 8. Evacuation Procedure 11 AP Economics Mr. Bernstein