AP Economics

Mr. Bernstein

Class Outline

September 2017

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AP EconomicsMr. Bernstein

OverviewThis is a course in theory and the economic way of

thinking more than application-based courseFirst AP Econ course was offered in 1989. 2,583 students

took the Micro test and 3,198 took the Macro test.In 2017, 41,321 students took the Micro test and 68,464

took the Macro test Over 4,000 high schools offer AP Micro and over 4,900

offer AP Macro (vs 14,000 offering AP Calc and 13,000 offering AP US History)

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AP EconomicsMr. Bernstein

OverviewAverage AP scores:

80-100 A65-80 B50-65 C40-50 D

2017 national mean scores were 3.00 and 3.19

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AP EconomicsMr. Bernstein

Course GoalsExplain Microeconomic principles such as supply and demand,

laborers and wages, and market structuresExplain 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 themAttain the necessary knowledge and skills to successfully take

the AP Economics Exam

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• 1. Course Outline– Marking Periods 1-2: Microeconomics– Unit 1: Basic Economic Concepts (2 quizzes)– 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

AP Economics Mr. Bernstein

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• 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

AP Economics Mr. Bernstein

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• 2. Resources– Textbook: Krugman’s Economics for AP, 2011, Ray

and Anderson– Reffonomics.com and Grokkingecon.com– Council for Economic Education AP Economics

Activities– Previously released AP Economics test questions– others

AP Economics Mr. Bernstein

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• 3. Classroom Routine– Daily Structure– Behavior– Electronic Devices– Academic Integrity

• 4. Grading– 50% Quizzes/ 25% Homework / 25% Class Participation– Quarterly Exams as per school policy– Quiz corrections, Extra Credit may be offered– MP4 may have only one quiz plus AP Exam prep activities

• 5. Makeup Policy– Tests and Quizzes must be made up following day– Plan ahead

AP Economics Mr. Bernstein

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• 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. DECA– C. Business Academy

AP Economics Mr. Bernstein

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AP EconomicsMr. Bernstein

• 8. The AP Exams– Each test is 2 hours and 10 minutes– Test dates are Wed. May 16, 12 noon (Macro) and Fri. May 18,

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%

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• 9. Fire Drill Procedure

AP Economics Mr. Bernstein

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• 10. Evacuation Procedure

AP Economics Mr. Bernstein