ADVANCED PLACEMENT MACROECONOMICS

1 2015 - 2016 ADVANCED PLACEMENTC ourse Description ADVANCED PLACEMENT MACROECONOMICS is a single semester course, designed in reference to the recommendations of the College Board and California Standards in the field of Economics to provide a college-level educational experience to high school students. With the use of multiple scholastic and real world sources for information, investigation, and study, the course journeys through the inner workings of various economic systems in a wider scope. With specific focus on national and federal analysis of price, income, and production levels, economic stabilization, globalization, and the internal functions of national financial systems, the course subject matter will provide opportunities to review and investigate basic economic concepts, as well as the complex network of modern international economics.

2 Specific content that will be covered upon completion of the course is illustrated in the body of the syllabus and is aligned to expose students to all concepts and content areas included in the ADVANCED PLACEMENT Examination in M a y , p e r C o l l e g e B o a r d Materials College-ruled paperBlue/Black pensThree-Ring BinderHighlightersNumber 2 exam pencilsOptional Materials Alternate color pensStraight-edgesCalculatorsStudents are highly encouraged to utilize the course Facebook page as an online forum and to access valuable multi-media tools: AP Economics with Mr. Willis Students can reach Mr. Willis at his email address: Students are also encouraged to use the following websites as a great source of online subject matter support and interactive curriculum tutorials.

3 It is recommended students search for and use additional online sites to supplement their practice of course principles In my opinion, economists and sociologists are the people to whom we ought to turn more than we do for instruction in the grounds and foundations of all rational decisions. z - Oliver Wendell HolmesSUPPORT SOURCES MR. BRENT S. WILLIS ESPERANZA HIGH SCHOOL ROOM 231 MACROECONOMICSS ummer Reading Wheelan, Charles, Naked Economics: Undressing the Dismal Science, New York Norton & Co. A foundation for knowledge of the subject matter will be derived from assigned reading of the textbook: Schiller, Bradley R. The Economy Today: 10th Edition, New York McGraw-Hill 2006 Application of the subject matter and practice of the course material will primarily originate from: Morton, John S.

4 , ADVANCED PLACEMENT Economics Microeconomics: Student Activities 3rd Edition, New York National Council on economic Educational 2003 CALENDAROCT. 3, 2015 End of First QuarterDEC. 18, 2015 End of 2nd QuarterAPR. 15, 2016 End of 3rd Quarter JUNE 16, 2016 Graduation Day COURSE TEXTSS tudents will keep abreast of current real-world events that impact economics and provide excellent opportunities for discussion and application of content to our world. Materials in this area include print, internet, and televised sources, and additional sources may be assigned as appropriate: News and World ReportLos Angeles TimesNew York TimesWall Street JournalNewsweekTimeBloombergNBC Nightly NewsThe EconomistOrange Country RegisterStatistical and normative information will be gathered from various sources, Bureau Reserve Bureau of economic United States Department of JusticeSUPPLEMENTAL AND STATISTICAL SOURCES Students progress will be assessed through diverse and numerous methods, including formative, summative, and informal evaluations.

5 Specifically, students will demonstrate their subject matter knowledge through pre-tests, reading quizzes, Principles in Practice activities, discussions, research projects, group presentations, exams, and classroom engagement. All summative exams will be composed of ADVANCED PLACEMENT -caliber multiple choice and free-response questions and will be modeled after the College Board ADVANCED PLACEMENT exams. Points will be awarded for citizenship and effort, Principles in Practice assignments, research assignments,, practice AP exams, class presentations, quizzes, and exams. Each assignment will be given a point value based on the amount of work that is assigned. There is NO CURVE!

6 Make-Up Exam Policy THE EXAM CLAUSE When a student misses an exam or quiz, it is the responsibility of the student to notify me the day that they return and schedule a time that same day to take a make-up exam. The make-up exam will be a different version of the same exam, and may be in a different format. Students who do not schedule a makeup exam the day they return (even for an excused absence) will lose the opportunity to take a make-up and will receive no credit for the this course, there is a zero tolerance cheating policy! Cheating includes but is not limited to the following: Copying answers on homework Using or basing the answers of others as your own homework or exams Using answers produced online or on previously released material to devise your answer Sharing materials or answers with others outside of class Using electronic devices to find, transmit, or share answers Online dishonesty of any form, including Facebook Consequences for violation of this cheating policy, which will be strictly enforced, include:Forfeiture of assignment score Disciplinary action according to school and PYLUSD policyASSESSMENT AND GRADINGG rading Scale.

7 A= 100-90% D = 69-60% B = 89-80% F = 59 and below C = 79-70%ALL grades are subject to the grading scale, determined by Mr. Willis, and are final and AND PLAGIARISMUnit 1 Basic economic Concepts (10 days/ 20%)Schiller, Chapters 5, 6, 7, 8 The Business Cycle and Basic Macroeconomic Ideas Inflation, Unemployment, Recession and Recovery Scarcity, Supply and Demand in Decision-Making Comparative/Absolute Advantage, Specialization, & Trade National Income Levels, Gross Domestic Product (national and per capita) Real and Nominal Analysis of Inflation Measuring and Defining Unemployment Graphic Organizers: Business Cycle, Production Possibility Curves, Circular Flow Model, Consumer Price IndexUnit 2 Measuring Performance (10 days/ 20%)Schiller, Chapters 5, 6, 7, 8 The Business Cycle and Basic Macroeconomic Ideas Inflation, Unemployment, Recession and Recovery Scarcity, Supply and Demand in Decision-Making Comparative/Absolute Advantage, Specialization, & Trade National Income Levels, Gross Domestic Product (national and per capita) Real and Nominal Analysis of Inflation Measuring and Defining Unemployment Graphic Organizers.

8 Business Cycle, Production Possibility Curves, Circular Flow Model, Consumer Price IndexUnit 3 Aggregate Supply and Demand (12 days/24%)Schiller, Chapters 9, 16 Aggregate Demand Determinants, Multipliers and Effects Aggregate Supply Determinants and Effects Aggregate Supply and Demand in the Long-Run/Short-Run Sticky and Flexible Wages/Prices Fluctuations and Equilibrium in Long-Run/Short-Run MACROECONOMICS Output and Production on Employment Types Graphic Organizers: Short-Run/Long-Run Aggregate Supply and Demand CurvesUnit 4 Federal Fiscal Policy (11 days/22%)Schiller, Chapters 11, 12 Demand-side and Supply-Side Economics Fiscal Discretionary Spending Policy Government Surpluses, Deficits, and Debts Comparisons and Effects Types of Inflation Cost-Push and Demand-Pull Long-Run and Short-Run Action Expectations and Effects on Policy Capital Investment and Research Stimulating economic Growth Graphic Organizers.

9 The Phillips Curve, Aggregate Supply and Demand Curves, Demand-Pull and Cost-Push Effects, Crowding-Out Effect, Built-In StabilityUnit 5 Monetary Policy (11 days/22%) Schiller, Chapters 13, 14, 15 Money Supply, Demand, and Value The Money Market Measuring Money and the Money Market Banks, Financial Institutions, and Assets Central Bank Policy and the Money Quantity Theory Loans and Interest Rates The Federal Funds Rate The Federal Financial System Graphic Organizers: Money Demand Curve, Money Supply Curve, Investment Demand Curve, Aggregate Supply and Demand Curves, Loanable Funds MarketUnit 6 The Open Global Economy(6 days/12%) Schiller, Chapters 18, 35, 36 Comparative and Absolute Advantage in International Trade International Trade Capital and Current Accounts, and Balance Foreign Exchange Market Supply & Demand, Rates and Currency Exports and Imports Exchange The Flow of Capital in the Market Outsourcing and Effects The Phillips Curve The Laffer Curve Your Role in the World Economy Graphic Organizers.

10 Foreign Exchange Market, Aggregate Supply and Demand Curves, Comparative/Absolute Advantage, Circular Flow ModelADVANCED PLACEMENT MACROECONOMICS CURRICULUM70 INSTRUCTIONAL DAYS 5 UNITS OF STUDYBy signing the syllabus both the parent and the student acknowledge that they have read and understand the class guidelines regarding classroom procedures, the grading policy, discipline policy and their textbook Name: (Please Print)_____Student Signature: _____Date: _____Parent Name: (Please Print)_____Parent Signature: _____Date: _____(Please detach this page and return it signed to Mr. Willis by the second day of the second semester)