Transcript AP Econ overview - Fulton County Schools

AP Economics
Mr. Reeder
Chattahoochee High School
Overview
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Social Studies Department
Social Science with Math
The assumption is NO economics background
Economics course is required for graduation
Economics EOC is required for graduation
My Teaching Style:
What is Economics?
• A study of human behavior
• The study of incentives
• The Social Science dealing with the efficient use of
scarce resources to achieve the maximum
satisfaction of economic wants.
• A different way of thinking
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Opportunity cost
Rational decisions
Cost-benefit analysis
Thinking at the margin
The AP Exams
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College Board’s National exams in May
2 AP exams = 2 college course credits
2 hours long
70-minute multiple-choice section (60 questions)
60-minute free-response section (3 questions)
Some questions in the free-response section
require graphical analysis
College Credit
• https://apstudent.collegeboard.org/creditandplacem
ent/search-credit-policies
• College credit varies
• Colleges are increasingly requiring a composite score
College
Min AP Score
Needed (Mic, Mac)
College Credits
Given
College Course
Exempted
Ga Tech
4, 4
3, 3
Econ 2105, Econ 2106
Ga State
3, 3
3, 3
Econ 2105, Econ 2106
UGA
3, 3
3, 3
Econ 2105, Econ 2106
Brown University
Composite 8
1 course
Econ 0110
Wake Forest
4, 4
3, 3
Econ 150
MIT
5, 5
9, 9
Princeton
Composite 10
3 courses
Econ 100, 101, 102
Prerequisites
• Senior (4th year of high school)
• Math: A or B in Honors Precalculus, Adv.
Algebra and Trig., Accelerated Integrated
Pre-Calculus, Integrated Trigonometry, or
AP Calculus (AB or BC)
• Social Studies: A or B in AP US History or A
in on-level US History
• Good attitude towards a new subject
Math Correlation
• AP Econ (especially AP Micro) correlates
with success in upper-level math courses
much more than it correlates with success
in Social Studies courses.
Math Course Co-Enrollment
Avg AP Econ grade
Ga Tech Calculus
93%*
AP Calculus BC
91%*
AP Calculus AB
85%
Pre-calculus
77%
AMDM
74%
* No student has ever received a failing grade
Day-By-Day
• Summer Work
• purchase student activity work and begin
• Mini-lesson Lecture
• ~daily
• Practice graphing (dry erase boards)
• ~ twice a week
• Text book
• ~ 1 chapter a week with quizzes over readings
• Student Workbook
• ~ 1 activity a day (usually in class)
• Videos and clips when relevant
AP Micro Content Topics
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Micro = small units within the economy
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Households, Business Firms
Major Content Domains:
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Basic Economic Concepts
The Nature and Functions of Product Markets
Factor Markets
Market Failure and the Role of Government
Sample Micro Question
Which of the following situations would necessarily lead to an increase
in the price of peaches?
(a) The wage paid to peach farm workers rises at the same time that
medical researchers find that eating peaches reduces the chances
of a person’s developing cancer.
(b) While the wages of peach farm workers fall drastically, the peach
industry launches a highly successful advertising campaign for
peaches.
(c) A breakthrough in technology enables peach farmers to use the
same amount of resources as before to produce more peaches
per acre.
(d) The prices of apples and oranges fall.
(e) Weather during the growing season is ideal for peach production.
ANSWER: A (peaches cost more to produce, plus more people want them)
Typical Micro graph FRQ
AP Microeconomics Test
Career Results
AP Scores Percentages
2s (2%) 1s (4%)
3s (13%)
5s (39%)
4s (43%)
Percent passing AP Test: 95%
Average AP Test score: 4.3
Average grade in class: 86%
AP Macro Content Topics
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Macro = the entire interconnected economy
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GDP, Unemployment, Business Cycle, Fiscal Policy,
Monetary Policy, Federal Reserve, International Trade
Major Content Domains
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Basic Economic Concepts
Measurement of Economic Performance
National Income and Price Determination
Financial Sector
Inflation, Unemployment, and Stabilization Policies
Economic Growth and Productivity
Open Economy: International Trade and Finance
Sample Macro Question
Which of the following groups would most likely gain
from unanticipated inflation?
(a) Landlords who own apartments in cities with rent
controls.
(b) Individuals who have fixed retirement incomes.
(c) Individuals who earn high incomes
(d) Individuals who have borrowed money at fixed
interest rates
(e) Banks that have loaned all excess reserves at a
fixed interest rate.
Answer: D
Typical Macro graph FRQ
AP Macroeconomics Test
Career Results
AP Scores Percentages
2s
0%
1s
2%
3s
6%
4s
32%
5s
60%
Percent passing AP Test: 98%
Average AP Test score: 4.5
Average grade in class: 83%