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 all workbook activities that pertain to the chapter(s) being quizzed.
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. Equilibrium:
Leakages/Injection D. Spending/Tax Multipliers
Effect 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 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 |
15 17 |
29, 43-46 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 |
|