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AP Microeconomics Semester – 2

 
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AP Microeconomics Semester – 2

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 semester 1, we have learned how the product market structures work. In this semester, we will look at the factor or resource market. We will look closely at the Circular Flow Model, how wages are influenced, and how financial markets come into play. We will analyze why markets fail and learn various solutions to returning balance to a system out of equilibrium.

Credit:

Prerequisites:

None

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.

Syllabus:

Module 04: Factor Markets

  • Module Checklist
  • Circular Flow Model
  • Marginal Productivity Theory of Resource Demand
  • Determinants of Resource Demand and Resource Optimization Rules
  • Wages: Minimum Wages, Bilateral Monopolies, and Unions
  • Financial Markets
  • Financial Markets Discussion-Based Assessment
  • Module Four Exam

Module 05: Externalities and Government Intervention

  • Module Checklist
  • Private vs. Public Goods
  • Externalities
  • Economic Situations: Environment and Government
  • Introduction to Taxes
  • Income Distribution
  • Module Five Exam

Module 06: Wrapping It Up

  • Wrapping it up!
  • Externalities and Final Exam Prep
  • Externalities Discussion-Based Assessment
  • Guided Review

Final Exam


 

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