LINDBLOM MATH & SCIENCE ACADEMY ADVANCED PLACEMENT MICROECONOMICS 2013 2014 Course Syllabus and Outline Course Description: AP Microeconomics is a college level, year-long course designed to provide students with a thorough understanding of the principles of microeconomics. This course is designed to encourage students to think like economists, by questioning and evaluating costs and benefits and exploring the many ways that one economic action will cause secondary actions. AP Microeconomics will also examine the fundamental economic principles which govern economic activities of the individual and the firm. This course will address the central topics of the AP Microeconomics Examination including: scarcity, supply and demand, consumer choice, the theory of the firm, perfect and imperfect competition, the factor market, market failure, and the role of government. This course will also teach students to generate and correctly label economic graphs. Personal Philosophy: I firmly believe that economics is the most important course you will take in high school. Economics will teach you a new way of thinking about decision making that will prepare you to embrace the responsibilities of adult consumers. This course will be unlike any other course you take in high school and I hope that you will see the power and importance of economic thought by the end of the year. Required Texts: Krugman s Microeconomics for AP (2012) Economics by Example (2006) Naked Economics (2010) Additional readings may be assigned from a variety of sources Required Class Materials: A spiral bound notebook A 3-ring binder (.5 or 1 width) Tabs for dividing and organizing your binder Pens and pencils Highlighters (several colors) Dry-erase markers (fine tip) Required Course Management Website: We will be using a new service to manage our course content this year. All of my lectures and presentations as well as your assignments and readings will be posted to our course page on Lectrio.com. To sign up, follow these directions: 1. Go to lectrio.com/course/lmsamicro 2. Enter access code: 2DD9y Course Structure: At the beginning of each quarter you will receive a detailed ten week calendar that will list all textbook readings, major assignments, and unit exams. If, for some reason, I need to change any aspects of this calendar you will receive an updated calendar as soon as possible. Additional homework assignments and readings may be assigned in class and it is your responsibility to add them to the calendar. Each time we complete a module from the Krugman text we will have a reading/content mastery quiz. As the content in this course builds upon itself, you must pass each of these quizzes in order to advance to the next. Your average on the quizzes (if you have to take them more than once) will be the recorded grade in gradebook. You may only sit for the unit exams once you have passed all of the module quizzes from that unit. Grading: Grades will be calculated based on total points. It is the responsibility of each student to make sure grades are entered properly into the gradebook. If you believe there is a discrepancy between the gradebook and the grade you received on returned assignments, you must be able to show proof of the error (so do not dispose of assignments until you are sure your grade has been recorded properly).
In addition to the aforementioned quizzes, the major assessments will be the unit exams. These exams will be structured similarly to the AP exam, with multiple choice questions counting for 2/3 of your grade and free response questions counting for 1/3 of your grade. Letter grades will be determined based on school guidelines and there will be no rounding. Additionally, you will earn your Consumer Education Credit if you have a passing grade for the semester and earn a C or higher on the fourth quarter Consumer Education project. AP Exams: It is expected that each student enrolled in AP Microeconomics enters the course planning on taking the AP Micro exam in May. Behavioral Expectations: We are here to learn and to help each other learn. There are only two behavioral expectations that I expect all of us, including myself, to follow. As long as we act respectfully and responsibly, we will develop a supportive and welcoming learning environment. These two behavioral expectations encompass all of the aspects of good behavior and as responsible adults you should strive to live up to them. Any necessary disciplinary actions will follow the guidelines of the school. Absences and Missing/Late Work: If you miss a class due to an excused absence, it is your responsibility to complete any coursework you may have missed. All assignments and class materials will be posted to Lectrio. Additionally, all on-time and later work are subject to the LMSA History Department Revision Poilicy: 1. Revisions: If a student submitted an assignment on time and it was fully attempted, s/he will be permitted to resubmit (after it has been returned to the student with feedback) for a new grade within the quarter that it was assigned. Final quarter due dates are as follows: October 25th, January 17th, March 21st, and May 30th. 2. Late Work: If a student was present but did not turn in an assignment on the due date, the student will have 2 weeks to submit the assignment with a loss of no more than 20% of the graded assignment (per week), or a cumulative loss of no more than 40% of the graded assignment by the quarter due dates: October 25th, January 17th, March 21st, and May 30th. 3. If a student needs additional support to achieve mastery on the assignment, the onus is on the student to seek out their teacher to establish a support session outside of class time. Academic Integrity: Although this falls within the two behavioral expectations, it is so important that it merits its own explanation. Every assignment that you complete for this class is to be your own work. If there are suspicions that you cheated in some manner, such as copying from another student or improperly citing other authors work, you will receive no credit for the assignment in question and Lindblom s academic integrity policies and procedures will be enforced. Instructor Contact: You can reach me via any of the following methods: Cell phone (773) 800-9826 E-mail pavan@cps.edu or peter.a.van@gmail.com Twitter @peteravan Please feel free to reach out to me any time day or night. If you would like to schedule an appointment to see me and/or need to speak to me face to face, I will typically be in the history department office (room 223B) or in room 220 before and after school every day. I will specifically be there during my scheduled office/tutoring hours (typically before school everyday and after school on Mondays).
TENTATIVE COURSE OUTLINE AP MICROECONOMICS 2013 2014 Semester One Unit 1: Basic Economic Concepts Length - 3.5 weeks Krugman modules 1, 3, and 4 Normative and Positive Economics Logical Thinking Fallacies Scarcity and Choice Opportunity Costs Unlimited Wants/Limited Resources Production Possibilities Curve Circular Flow Markets Command, Tradition, and Market Systems The economic approach to problemsolving Basics of economic graphing Unit 2: Supply and Demand Length - 5.5 weeks Krugman modules 5-12 Demand vs. Quantity Demanded Supply vs. Quantity Supplied Graphing Supply and Demand Equilibrium Surplus & Shortage Price Discovery Mechanism Elasticity: Price, Income, Cross Total Revenue Test Coefficient Calculations Price Ceilings and Floors Law of Demand Unit 3: The Nature of Product Markets Length - 6.5 weeks Krugman modules 13-20 Consumer Surplus Producer Surplus Tax Incidence and Deadweight Loss Allocative Efficiency Marginal Utility Theory Utility of Maximization Rule Theory of Consumer Choice Profit/Loss Circular Flow Diagram Explicit & Implicit Costs Economic vs. Accounting Profit Profit Maximization Rule Law of Diminishing Returns Cost of Production Fixed Cost Variable Cost Total Cost Marginal Cost Average Fixed Cost Average Variable Cost Average Total Cost Short Run vs. Long Run Semester One Review approximately 1 week Semester One Finals Semester Two Unit 4: The Function of Product Markets (Market Structure) Length - 8.5 weeks Krugman modules 21-32 Market Structure Perfect Competition Monopolistic Competition Oligopoly Pure Competition Barriers to Entry Profit Maximization Rule Short Run vs. Long Run Maximum Profit Output and Price Determination Model Perfect Competition Monopolistic Competition Oligopoly Pure Monopoly Demonstrating and analyzing market structures on graphs Allocative and Productive Efficiency Monopoly Power Price Discrimination Government Regulation Game Theory Nash Equilibrium Unit 5: Factor Markets Length - 3.5 weeks Krugman modules 33-37 Marginal Productivity Theory of Resource Demand Derived Demand Marginal Physical Product (MPP) Value of Marginal Product (VMP) Demand vs. Quantity Demanded of a Resource
Productivity Economic Rent Rent Seeking Behavior Capital and Labor Markets Lorenz Curve Income Distribution Unit 6: Market Failure and the Role of Government Length - 3 weeks Krugman modules 38-42 Positive & Negative Externalities Marginal Social Benefit and Marginal Social Cost Private & Public Goods Producer & Consumer Surplus Principles of Taxation Public sector failure Tax Incidence Tax Progressivity Progressive Proportional Regressive Flat tax Government Intervention Antitrust Laws Market Failures Semester Two Review and Pre-AP Exam Final approximately 2 week (plus additional after school reviews) AP MICROECONOMICS EXAM - MAY 15, 2013 Unit 7: Pop-culture and Microeconomics Length - 3 weeks Semester Two Finals (Projects Due) --------------------------------------------------------------------------------------------------------------------- Note: Throughout the course, students will learn to graph the economic concepts described above. Graphing is an integral component of microeconomics and demonstrating and analyzing key graphs is a necessity for success on the AP Microeconomics Exam.
PLEASE RETURN THE FOLLOWING PAGE TO MR. VAN Course Contract: I,, along with my parents/guardians have read the course syllabus and understand the course objectives, guidelines, and expectations. I understand my responsibilities as a student in this course with regards to attendance, behavior, assignments, projects, and tests. I understand the consequences of violating school or class rules, including tardiness and poor responsibility and respect. Student Printed Name Student Signature Date Parent/Guardian Printed Name Parent/Guardian Signature Date Contact Information: Student E-mail: Parent/Guardian E-mail: Parent/Guardian Daytime Telephone Number: Parent/Guardian Evening Telephone Number: