AP Macroeconomics Course Outline
The following course outline provides for you
the major concepts to be covered in this course. Please note that homework for
each Chapter is due on the date you take the Chapter Quiz. You must turn in at least
three assignments on the day of each quiz. You may choose to do the textbook’s
Key Questions and any combination of workbook activities. The Dead Economist
chapters noted below will be assessed with the appropriate chapter as indicated
in the course outline.
|
AP Macroeconomics Course Outline |
Textbook Chapter |
Workbook Activities |
Dead Economist |
|
Unit 1: Introduction to Economics I.
Basic Economic Concepts A. Scarcity B. C. Factors of Production D. Production Possibilities E. Comparative Advantage F. Private
Property II. The Market System A. Consumer Sovereignty B. Profit and Resource Allocation C. Household (Consumer) Sector D. Business Sector E. International Sector F. Government
(Public) Sector G. Circular Flow Model H. Profits, Normal and Economic III.
Price Determination A. Demand B. Supply C. Price Determination D. Price Ceilings
and Floors |
1 & 2 4 & 5 3 |
1-2 9-10 3-8 |
1-4 5 6 7 |
|
Unit 2: Measure of Economic
Performance I.
GDP and National Income A. Expenditure Approach B. Income Approach C. Measurement Inaccuracies D. Real GDP E. National, Personal, and
Disposable Incomes II.
Unemployment and Business Cycles A. Phases of Business Cycles B. Types of Unemployment C. Measurement of Unemployment III.
Inflation A. Meaning and Measurement B. Consumer Price Index C. Producer Price Index D. Demand
Pull/Cost Push Inflation E. Consequences of Inflation |
6 8 |
11-12 16-18 13,15 |
|
|
AP Macroeconomics Course Outline |
Textbook Chapter |
Workbook Activities |
Dead Economist |
|
Unit 3: Macroeconomic Theory
and
Fiscal Policy I.
Aggregate Demand and Supply Model A. Determinants of Aggregate
Demand B. Aggregate Demand Shifts C. Determinants of Aggregate
Supply D. Macroeconomic Equilibrium E. Aggregate Supply Shifts II.
Aggregate Expenditure Model A. Keynesian Debate B. Consumption and Saving C. Investment Demand D. Equilibrium: Expenditure/Output E. Equilibrium:
Leakages/Injection F. Multiplier Effect G. Net Export Effects H. Government Spending Effects III.
Fiscal Policy A. Discretionary Fiscal Policy B. Crowding Out C. Budget
Process D. Automatic Stabilizers E. Problems with Fiscal Policy |
9 10 & 11 12 |
23-25 27-29 20-22 30-31, 33 |
8 9 |
|
Unit 4: Money, Banking, and
Monetary
Policy I.
Money and Banking A. Functions of Money B. Money Supply Measurement C. Banking System D. International Banking E. Money Creation F. Money
Multiplier III.
Monetary Policy A. Federal Reserve System B. Quantity
Theory of Money C. Fed Funds
Market D. Monetary
Policy Tools E. Money Demand G. Effects of Monetary Policy H. Effectiveness of Monetary
Policy |
13 14 |
34-35, 37 36, 38-42 |
10 |
|
AP Macroeconomics Course Outline |
Textbook Chapter |
Workbook Activities |
Dead Economist |
|
Unit 5: Applications of Monetary
and Fiscal Policy I.
Tradeoffs in Policy Options A. Phillips Curve (Short and Long
Run) B. Rational Expectations Theory C. Policy Lags and Timing Issues D. Sources of Economic Instability E. Links
between Monetary and Fiscal Policy III.
Competing Economic Theories A. Keynesian View B. Monetarist View C. New Classical View V.
Economic Growth A. Measures of Economic Growth B. Growth and
Resource Utilization C. Growth and
Productivity D. Demand Factors (C + I + G + Xn) E. Long-term Growth Potential VI.
Globalization A. Measuring Globalization B. Globalization Debate C. Globalization and Economic
Growth D. Financial
Crises |
15 16 (optional chapter) 17 19 |
29, 43-46 48 47 |
11 12 |
|
Unit 6: International Trade I.
International Trade A. Global Trade Patterns B. Absolute and
Comparative Advantage C. Sources of Comparative
Advantage II. Restrictions to Trade A. Protectionist Arguments B. Tools of
Trade Restriction C. Trade
Agreements
III. Exchange Rates A. Balance of Payments B. Trade Deficits C. Current and
Capital Accounts D. Flexible/Fixed Exchange Rates E. Determinates
of Exchange Rates |
35 36 7 & 37 |
49-50 51 52-55 |
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