AP MACROECONOMICS: COURSE LETTER/SYLLABUS for our new Mester System Room S21 Reseda Science Magnet, Reseda High School August 18, 2015 Dear Parents and Guardians: My name is Carla Schiller. I am your son or daughter's 12 th grade Advanced Placement Macroeconomics teacher this year. This letter will tell you about my background, what we will be studying, my teaching philosophy, the grading system, required supplies, and other course matters. MY BACKGROUND: I am a graduate of Cornell University, in Ithaca, New York, and earned a Bachelor of Arts degree "with distinction in all subjects." My independent major was in Medieval Studies, with an emphasis on history, art history, and literature. I later graduated from New York University School of Law in New York City, with a Juris Doctor degree, cum laude. While there, I was an editor of the NYU Law Review and awarded membership in The Order of the Coif. After taking and passing the New York bar exam in 1981, I practiced corporate, securities and real estate law for three years as an associate for Sullivan & Cromwell, a Wall Street law firm, and corporate, entertainment, and employment law in-house for Columbia Pictures and Sony Pictures in New York. Sony Pictures then relocated me to Los Angeles as Vice President, Associate General Counsel. After twelve years of practicing law, I decided to become a public secondary school teacher, and have obtained a California professional clear credential in Social Sciences for secondary school education. This is my fiftteenth year teaching at Reseda Magnet, and I have been with LAUSD for 20 1/2 years. Before coming to Reseda, I taught for five years at the Highly Gifted Magnet at North Hollywood High School, and 1 1/2 years at Nobel Middle School before that. I believe very strongly in public education. All three of my children graduated from Los Angles Unified schools and went on to graduate from Yale University, UCLA, and Northwestern University, respectively. OUR NEW SCHEDULE THIS YEAR: This year for the first time, we are using a four- quarter system instead of a two-semester system. Each quarter is called a mester. This class, as I understand it, will meet every other school day for one and a half hours and we will be expected to cover half of the entire yearly curriculum during the first and second mesters. A midterm exams for this first mester will be held the week of October 12. A final exam covering both mesters, will be held the week of December 14. This means it will be more important than ever for each student to come to class every class day, prepared, and to keep up with the homework. WHAT WE ARE STUDYING: The content of this course is taken from the College Board s description of Advanced Placement Macroeconomics: As our world becomes more interconnected through technological advances, an awareness of basic economic theory becomes imperative for the active citizen. Consumers and producers, as well as national economies, rely on economic information for their decision-making...ap Macroeconomics is a course designed to provide students with a thorough understanding of the principles of economics [that apply to an economic system as a whole]. Students taking the course can expect to learn how the measures of economic performance, such as GDP, inflation and unemployment, are constructed and how Page! 1 of! 7 -! 1 -
to apply them to evaluate the macroeconomic conditions of an economy. Students will also learn the basic analytical tools of macroeconomics, primarily the aggregate demand and aggregate supply model and its application in the analysis and determination of national income, as well as evaluating the effectiveness of fiscal policy and monetary policy in promoting economic growth and stability. Recognizing the global nature of economics, students will also have ample opportunities to examine the impact of international trade and international finance on national economies. Various economic schools of thought are introduced as solutions to economic problems are considered. AP Macroeconomics is officially a one-semester course. In the spring semester, the course will be listed as Honors Principles of American Democracy, though we will continue to review for the AP Macroeconomics. We will also be studying aspects of American government throughout the school year. The assignments I give you will help you gain experience and ability in identifying and applying macroeconomic principles, manipulating numbers and figures to solve macroeconomic problems, writing and analyzing various macroeconomic graphs (such as the AD/AS graph, the money market graph, the demand/ supply graph, the loanable funds graph, currency exchange graph, and the Phillips curve), and explaining and illustrating various macroeconomic models (such as the circular flow of the economy). NOTE: This is a course in which each topic builds on the previous ones. Because of that it is very important that the students keep up and miss as few classes as possible. This is especially true for students who take this class after lunch and are on athletic teams! There will also be a lot of reading, and homework. If your child is not ready, willing, and able (given other coursework, part-time job, sports responsibilities, college visits, and/or other extracurricular activities), to meet such a demanding schedule, he/she should consider enrolling in a regular Economics class which will also meet the district s requirements for graduation, but in a less demanding fashion. AP EXAM: The AP Macroeconomics Examination is two hours and ten minutes long, one of the shortest AP exams. The exam includes a 70-minute, 60-question multiple-choice section that accounts for two-thirds of the student s exam grade, and a 60-minute free-response section that counts for the remaining one-third of the student s exam grade. The free-response section contains one longer and two shorter problems, some of which will require some graphical analysis. There are no essays! This school year the Macroeconomics exam will be given here at Reseda High School. The exam will be given at noon on Wednesday, May 11. COURSE BOOKS/SUPPLIES/HOMEWORK: Course books: Each student must obtain the following books: 1)The hardcover textbook called Economics by McConnell and Brue. The student must check the book out from the Reseda High School textbook room 2)The workbook entitled Advanced Placement Economics: Macroeconomics Student Activities Workbook, 4th Edition. This book must be purchased by the student. You can order it online from http://store.councilforeconed.org for $24.95 plus tax and shipping. If you uncomfortable ordering online, speak with me right away. 3)Each student will need internet access for certain projects and assignments. If there is no such access available at home, the student will have to schedule time to use the internet at the school or at a public library. Every student must keep any school-owned books covered. I will announce to the students which books must be brought to class. Page! 2 of! 7 -! 2 -
Homework: Our classwork will supplement, but not duplicate, the required homework. I expect all students to keep up with classwork and homework. Homework assignments are very important. I am using flipped classroom techniques this year, which means I will expect the student to learn the information assigned for homework, so we can go deeper with it in classroom group work. There will be a 5-question quiz every class period promptly when class begins. If you are not in your seat by the tardy bell you may not take the quiz that day and will receive a zero, even if you have an excused tardy. The quiz questions will be based on the homework. Each quiz will count for 10 points. Quizzes cannot be made up, but I will drop the lowest quiz each quarter. I expect all students to keep up with all classwork and homework, regardless of sports, other activities, and personal matters. Supplies: Students must bring supplies to class every day, in addition to the books described above. Required daily supplies are: 1.Either an individual economics binder or a labelled section of a multi-subject binder so papers may be inserted. All written work for this course, including handouts and homework, must be kept in the notebook in an organized fashion. Periodically I will collect notebooks and grade them on their neatness and completeness. NOTE: I have instructed my students to keep all their work and not throw their papers away, because they will need them to review for class tests, final exams and the AP exam. 2.Graph paper in the notebook instead of regular lined paper 3.A page or assignment book in which to write down assignments 4.Two #2 pencils (or one mechanical pencil with several extra leads, 2 pens (not red), and an eraser 5.At least 3 colored pencils for graphing work (not markers or crayons) 6.Calculators are not permitted, because students will NOT be permitted to use calculators on any test or final, or on the AP exam. Seniors are all capable of simple math computations, and that is all they will need. Knowledge of calculus is not required. NOTE: if a student is missing one of the above required supplies in class, s/he will lose 5 points for incomplete supplies. Students will need to bring their workbook, notebook, homework and supplies to class every, unless I tell you otherwise. The textbook may remain at home unless otherwise required. OVERALL SYLLABUS (in accordance with standards set by the College Board): UNIT I. Basic Economic Concepts; 8-12% of the course A. Scarcity, choice, and opportunity costs B. Production possibilities curve C. Comparative advantage, absolute advantage, specialization, and exchange D. Demand, supply, and market equilibrium E. Macroeconomic issues: business cycle, unemployment, inflation, growth UNIT II. Measurement of Economic Performance: 12-16% of the course A. National income accounts 1. Circular flow of the economy model 2. Gross domestic product 3. Components of gross domestic product 4. Real versus nominal gross domestic product B. Inflation measurement and adjustment 1. Price indices Page! 3 of! 7 -! 3 -
2. Nominal and real values 3. Costs of inflation C. Unemployment 1. Definition and measurement 2. Types of unemployment 3. Natural rate of unemployment UNIT III. National Income and Price Determination: 10-15% of the course A. Aggregate demand 1. Determinants of aggregate demand 2. Multiplier and crowding-out effects B. Aggregate supply 1. Short-run and long-run analyses 2. Sticky versus flexible wages and prices 3. Determinants of aggregate supply C. Macroeconomic equilibrium 1. Real output and price level 2. Short and long run 3. Actual versus full-employment output 4. Business cycle and economic fluctuations UNIT IV. Financial Sector: 15-20% of the course A. Money, banking, and financial markets 1. Definition of financial assets: money, stocks, bonds 2. Time value of money (present and future value) 3. Measures of money supply 4. Banks and creation of money 5. Money demand 6. Money market and the equilibrium nominal interest rate 7. Loanable funds market B. Loanable Funds market 1. Supply of and demand for loanable funds 2. Equilibrium real interest rate 3. Crowding out C. Central bank and control of the money supply 1. Tools of central bank policy 2. Quantity theory of money 3. Real versus nominal interest rates UNIT V. Stabilization Policies: 20 30% of the course A. Fiscal and monetary policies 1. Demand-side effects 2. Supply-side effects 3. Policy mix 4. Government deficits and debt B. The Phillips Curve 1. Short-run and long-run Phillips curves 2. Demand-pull versus cost-push inflation 3. Role of expectations Page! 4 of! 7 -! 4 -
UNIT VI. Economic Growth: 5-10% of the course A. Definitions of economic growth B. Determinants of economic growth 1. Investment in human capital 2. Investment in physical capital 3. Research and development, and technological progress C. Growth policy UNIT VII. Open Economy: International Trade and Finance: (10 15%) A. Balance of payments accounts 1. Balance of trade 2. Current account 3. Financial account (formerly known as capital account) B. Foreign exchange market 1. Demand for and supply of foreign exchange 2. Exchange rate determination 3. Currency appreciation and depreciation C. Imports, exports, and financial capital flows D. Relationships between international and domestic financial and goods markets REVIEW FINAL EXAM AP MACROECONOMICS EXAM HONORS GOVERNMENT GROUP PROJECT WHAT IS, AND IS NOT, PLAGIARISM (CHEATING): Plagiarism (a form of cheating): the use of work or ideas of others in ways that give the impression that these are your own (i.e., copying information word-for-word without using quotations and footnotes; paraphrasing an author's ideas, or using visuals or music without giving proper credit in footnotes). In other words, cheating includes 1. copying someone else s work and pretending it is your own work, even if you change some of the synonyms; 2. letting someone copy your work and claim it as their own; 3. getting or looking at answers from someone else during a test or quiz; 4. letting someone see or copy your answers during a test or quiz; 5. doing your work with another student and both of you presenting it as your own, individual work; and 6. using teachers guides or answers to assignments. Cheating will include having a cell phone available during any test. All cell phones must be turned off and in plain sight on the desk during all testing time. If you cheat in this class, the following consequences will apply: 1. you and any other student involved will receive a zero on that assignment, test, or quiz; 2. you and any other student will receive a u for both work habits and cooperation on your final report card for the semester; 3. your parents/guardians and your counselor will be notified in writing of the cheating incident; and 4.you may be dropped from the course with a grade of fail. 5.your other teachers will be informed of the cheating incident and may refuse to write you a college recommendation. Page! 5 of! 7 -! 5 -
WARNING: there are many Internet resources available to teachers to discover cheating. If you cheat, we will discover it, so don t do it! It s not worth it, and you are hurting yourself. CLASS RULES: My class rules are simple: 1. Respect all people and property. 2. Come to class prepared. 3. Listen to and follow directions the first time. GRADES/ABSENCES: The students compete only against themselves; I do not grade the class on a bell curve. If everyone in class earns an A, great! My grading system is a simple point system. Different items will be worth a certain number of points. At the end of each grading period, I will add up a student s points, divide by the total number of points it was possible to earn, and multiply by 100 to get the student s percentage. Then I will assign a grade based on the following grading scale: A = 89.5-100% [FOR FINAL 20-WEEK GRADES, ALL THE.5 s DROP B = 79.5-89.4% DOWN TO.0 ] C = 69.5-79.4% D = 59.5-69.4% F = 0-59.4% To both reinforce and assess the students learning, I will be assigning and grading various types of items during each semester, which may include problems, tests, quizzes, homework, projects, group projects, oral presentations, and class participation. Each item will be worth a certain number of points, which I will tell the students when the item is assigned. NOTE: I post student grades on Jupitergrades. At the end of every marking period I will require the student to print out his/her current gradesheet from my class listing all assignments and grades received, have it signed by a parent or guardian, and returned to class as a homework assignment. Please contact me right away if you have any questions about a report, preferably by email. My email address is teachercbs1@yahoo.com. Class participation is important and no one can receive an A in my class without it. NOTE: A student cannot participate if he/she is not here! Therefore, excessive absences from class, even for school-approved activities and/or absences, will hurt a student s grade. The Work Habits grade will reflect timeliness in attendance, being prepared for class, and turning in required work. The Cooperation grade will show how well a student follows instructions, participates in class, and behaves in class. I will give frequent quizzes, usually at the beginning of class. Any student who misses a quiz for any reason will receive a zero, other than for an excused tardy or absence. Work must be handed in on time. If a student is absent from class due to a school activity including sports, there is no homework extension (unless with my prior, written approval). If a student is absent due to illness, he/she will receive a homework extension of one day for each day absent. Work not handed in within this time frame will receive a mark of zero. IMPORTANT NOTE: I will not give credit for work turned in late, except as noted above. Tests must be made up on within two weeks from the first date of return to school; after that the student will receive a zero. NOTE: It is the student s responsibility to do any permitted make-up work (including tests) within the time limit specified, whether or not the teacher reminds the student of the work. It is not the teacher s responsibility to remind the student to hand in or do permitted make-up work. Work missed due to truancies cannot be made-up. Page! 6 of! 7 -! 6 -
HOW PARENTS/GUARDIANS CAN HELP THEIR CHILDREN: Even seniors benefit from parental involvement. You can help your child in several ways: 1. Help your child stay organized and on schedule by checking his/her assignment pad every night to make sure he/she has remembered to do any assigned homework. Also, please make sure your student takes his/her completed homework, notebook, and other supplies to school each morning! You would be amazed how many students lose points because they have forgotten to bring their completed homework to school. I have also had students do poorly on an open-note test or in-class assignment because he/she did not have his/her notes (in the notebook) or supplies. 2. Make sure you sign any notices requiring a parent/guardian signature and that your child puts the notice in his/her backpack! 3. Note when any tests or long-term assignments are due and help your child make a schedule in order to prepare for the test or complete the assignment on time. 4. Contact me if you have any questions, concerns or comments. The easiest way to reach me is to send me a note with your child, or to e-mail me at teachercbs1@yahoo.com. I will respond to you as promptly as possible. NOTE: You are encouraged to review past and current agendas and assignments on my AP History of Art webpage, At the end of every day, I add the agenda and homework for that day to the previous ones. To get to this website, go to www.resedahs.net and click on Staff. Find my name: Dr. Carla Beth Schiller and click on it. You will then see the list of my courses. Select the one labeled AP Macroeconomics. CONCLUSION: We have the same goal: an enlightening, productive, and enjoyable learning experience for our students. I look forward to getting to know and teaching your child. Sincerely, Carla Schiller CUT OFF THE SECTION BELOW AND TURN IN --------------------------------------------------------------------------------------------------------------------------------------- Please sign this portion of the letter and return it to Dr. Schiller We have read and understand the requirements and responsibilities of Dr. Schiller's Advanced Placement Macroeconomics course as described in the above letter dated August 18, 2015. Date : August 18, 2015 Print Student's name clearly! Signature of student X Signature of parent/guardian Page! 7 of! 7 -! 7 -