AP Microeconomics Semester – 1

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AP Microeconomics Semester – 1

You traveled to the Macro Islands to assist the leader in winning re-election. You came for a job, but you realized as you were working that you loved the islands and wanted to make your home there. Because you are adept at giving economic advice to the leader, you have been appointed as the new President of the Sunny Seas Shell Company. As part of your role in assuming the leadership duties of the company, you will need to brush up on microeconomics. The Board of Directors has appointed Ms. Equilibrium to act as your personal assistant and advisor as you transition into your new role. You will be learning all you can about microeconomics and will be required to exhibit your knowledge in May at the annual Board of Directors’ meeting (the AP Exam).

In this semester, you will understand the basics of economics, types of economics systems, supply and demand shifts, the interaction between supply and demand, surplus, and market structures.




Required Materials:

Often students and parents ask for extra practice or examples to supplement the AP Microeconomics on-line material. This course covers, at an intense level, all of the concepts tested on the College Board AP Microeconomics Exam and provides all the lessons that you will need to gain a comprehensive understanding of Microeconomics. However, there are times when extra practice can be both necessary and beneficial. We recommend that you purchase one of the following review books. You can purchase these books on-line at www.amazon.com and most book stores. These texts can also be found at your local library.

  • 5 Steps to a 5: AP Microeconomics/Macroeconomics
  • The Princeton Review for AP Economics
  • Barron’s AP Micro/Macro Economics

These books are NOT a requirement of the course. Your instructor will not collect or grade any of the work that you choose to do in the books. The books will act as an extra resource. By purchasing and using the books, you will gain a more solid foundation in Microeconomics.


Module 01: Economic Basics

  • Motif and Course Information
  • Course Diagnostic Assessment
  • Pace Guide
  • Graphing Basics
  • Economic Basics
  • Production Possibilities Curve
  • Types of Economic Systems
  • Economic Reasoning Activity
  • Absolute/Comparative Advantages
  • Understanding Economic Basics
  • Module One Review and Exam

Module 02: Product Markets

  • Module Checklist
  • Demand
  • Demand Quiz
  • Supply
  • Supply Quiz
  • Equilibrium
  • Supply and Demand Interaction
  • Supply and Demand Interaction Discussion-Based Assessment
  • Shifts in Supply and demand
  • Elasticity Introduction
  • Elasticity Applications
  • Elasticity Applications Quiz
  • Consumer and Producer Surplus
  • Consumer and Producer Surplus Quiz
  • Models Of Consumer Choice
  • Government Interference in the Equilibrium Process
  • Excise Tax
  • Module Two Review And Exam

Module 03: Market Structures

  • Module Checklist
  • Production Costs
  • Graphing Cost Curves
  • Perfect Competition
  • Perfect Competition Model: Short Run Equilibrium
  • Perfect Competition Model: Long Run Equilibrium
  • Inefficiency of the Monopoly
  • Media Consolidation Discussion
  • Competition vs. Monopoly
  • Competition vs. Monopoly Discussion-Based Assessment
  • Regulating Monopolies
  • Consumer and Producer Surplus
  • Consumer and Producer Surplus Quiz
  • Monopolistic Competition
  • Oligopoly
  • Market Structure – Summarized
  • Market Structure Discussion
  • Module Three Review and Exam


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