High School Course Outline

COURSE OUTLINE

Macroeconomics AP (P) (S78)

DEPARTMENT History/Social Science
LENGTH OF COURSE Semester
CREDITS 5
MAXIMUM CREDITS ALLOWED 5
AVAILABLE TO STUDENTS AT GRADE 12
REQUIRED OR ELECTIVE Required
PREREQUISITES

Permission

BRIEF OVERVIEW OF COURSE

This course provides the highly motivated college preparatory student with an opportunity to earn college credit while completing the high school Economics requirement. Students will study the principles of economics that apply to an economic system as a whole. The course emphasizes national income and price determination. Students will study measures of economic performance, economic growth, and international economics.

MAJOR GOALS

  1. To introduce the high school student to the academic challenges of higher education.

  2. To develop academic skills in critical reading, hypothesis formulation, analysis, evaluation, and organization.

  3. To develop the ability of writing essay examinations that are clear and precise.

  4. To provide students with an in-depth understanding of concepts and principles of macroeconomics.

METHODS OF INSTRUCTION

  1. Interactive strategies

  2. Small group study research projects

  3. Lectures and discussions

  4. Audio-visual materials

  5. Role-playing

  6. Guest speakers

METHODS OF EVALUATION

  1. Quizzes and tests

  2. Class participation

  3. Oral presentations

  4. Essays and research papers

  5. Student projects

  6. Group projects

  7. Graphing

GENERAL COURSE OUTLINE

I. Basic Economic Concepts

    A. Scarcity: the nature of economic systems

    B. Opportunity cost and production possibilities

    C. Specialization and comparative advantage: the basis for international trade

    D. The functions of and economic system (what, how, and for whom to produce)

    E. Demand, supply, and price determination

II. Measurement of Economic Performance

    A. Gross national product, gross domestic product, and national income concepts

    B. Inflation and prices

    C. Unemployment

III. National Income and Price Determination

    A. Aggregate supply

        1. Classical analysis

        2. Keynesian analysis

        3. Rational expectations

    B. Aggregate demand

        1. Circular flow

        2. Components of aggregate demand

        3. Multiplier

        4. Fiscal policy

        5. Monetary policy

    C. Money and banking

        1. Definitions of money and its creation

        2. Tools of central banking

    D. Fiscal-monetary mix

        1. Interaction of fiscal and monetary policy

        2. Deficits

    E. Trade-offs between inflation and unemployment

        1. Long run versus short run

IV. Growth

V. International Finance, Exchange Rates and Balance of Payments

    A. International trade and policy

    B. International finance, exchange rates, and balance of payments