Advanced Placement Economics Teacher Guide A Study of Macroeconomics and Microeconomics

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Description:

The unit is divided into two parts: microeconomics and macroeconomics. Lessons provide opportunities for an in-depth study of topics that characteristically appear on the national Advanced Placement Economics examination. Course objectives are to understand and apply economic concepts; to practice writing and discussion skills to communicate ideas more clearly; to develop an ability to use analytical inquiry skills to interpret basic economic data in various forms; and to develop an awareness of interdependence, recognizing that decisions of one sector of the economy affect other sectors and that all are affected by the role of government.

In macroeconomics, students review, assess, and analyze the economy as a whole. Topics include inflation, unemployment, monetary policy, aggregate demand, aggregate supply, and exchange rates. Microeconomics focuses on the individual firm or marketplace. Topics include functions of economic systems, market clearing situations, income distribution, perfect competition, monopoly, market structures, and externalities.

Activities:

Students understand and apply economic concepts, practice writing and discussion skills to communicate effectively, develop analytic inquiry skills to interpret economic data, and develop an awareness of the interdependence of the facets of the economy, including the government’s role.