M- pp 3 & 6, Wants vs. resources activity; review opp. Cost; NC=1.2. Video clip Econ comedy; M = pp 24-26; pp =pp 53-55; E=pp3-16
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1 AP Microeconomics Curriculum Map (updated 8/29/2013) Date/ Unit (% of AP test) 9/9 Basic Concepts (8-14%) Concept 9/10 Scarcity Choice Introductions / Syllabus (opportunity cost) Opportunity cost 9/11 Production Possibilities Trade-offs Productive efficiency 9/15 Absolute Advantage Comparative advantage Specialization trade Text/Resources/Activities M = Mankiw text; 5= 5 Steps to a 5; NC = National Council book by Morton; E = Economics text by Pearson; R = Reffonomics.com KW=KrugmanWells text Get Text at library, What you gave up?, Syllabus M- pp 3 & 6, Wants vs. resources activity; review opp. Cost; NC=1.2 Video clip Econ comedy; M = pp 24-26; pp =pp 53-55; E=pp3-16 M=pp8-9 and 50-58; 5=pp55-58; NC 1.6 9/16 review Sample problems from previous AP tests 9/17 Factors of Production Land, labor, capital, entrepreneurship What is needed to produce something activity 9/18 Economic systems 3 Basic Econ questions Bag/M&M activity, video Is America #1?, M=9-10 Homework/Practice (Formative) Sign up for Edmodo Log on to Reffonomics Read M pp Reffonomics.com Reffonomics.com Assessment (Summative) 9/22 Property Rights Incentives Diminishing marginal Utility Review M=pp7-8,236 5=pp59-60, Marshmallow activity 9/23 Test Basic Concepts MC and graphing 9/24 - Demand M- pp65-70 Reffonomics.com Supply and - Demand schedule Demand - Law of Demand (15-20%) - Graph of
2 9/25 - Determinants of demand - Change in quantity demanded vs. change in demand 9/29 - Supply - Supply schedule - Graphing supply - Determinants of supply NC=2.9-11; E=84-97; 5=63-69 Graphing problems Market for Wheat Activity M=p71- NC= 2.12,13,15 5=p69-71 E=p109,123,133 - Equilibrium price 9/30 - review Reffonomics baseball activity Practice graphing 10/1 Test Supply and Demand (Chapter 4 text) 10/2 Elasticity Price elasticity of demand 10/6 Income and cross price elasticity of demand 10/7 Continue elasticity 10/8 Continue elasticity 10/13 Continue elasticity 10/14 Test Elasticity (Cht. 5) Price floors Price ceilings Quotas Tax incidence 10/15 Allocative efficiency Welfare Economics Consumer surplus M=Cht. 5 pp90-99 M=Cht 5 pp NC E=pp =pp83-93 M=Cht 6pp M=Cht 6pp ; M=Cht. 4 pp82-83; M= Cht 7pp /16 Producer surplus M=Cht.7pp reffonomics MC and graphing 10/20 Deadweight loss = Cht. 8pp
3 Review (Cht 6,7,8) 10/21 Test Price floors/ceiling Consumer/producer Surplus 10/22 Positive externality Negative externality 10/23 Marginal social benefit Marginal social cost 10/27 Remedies for externalities M=Cht 10pp206-7 KWpp M=Cht. 10 pp MC & graphing 10/28 Role of Government Test externalities Public Goods vs private good M= Cht 11 pp223-4 NC= /29 Provision of public goods M- Cht 11pp /30 Income distribution M=Cht 12pp (taxes) 11/2 Income Equity M=Cht 12pp /4 Lorenze Curve 5=pp Gini coefficient 11/5 End of Q1 Test: Role of Government 11/10 (10-15%) M= Cht 13, pp , Production and Costs Total Revenue Total Costs Profit Accounting vs. economic profit 11/12 Production function M-Cht 13p271 11/13 Marginal product M-Cht 13p273 Diminishing returns 11/17 Short-run costs M=Cht 13p /18 Long-run costs Economies of scale Cost-minimizing input combination Productive efficiency M=Cht13p /19 Review and practice
4 11/20 Test - Costs 11/23 and Market structures 24 Perfect Competition Market Monopolistic Structures Competition (25-35%) Oligopoly Monoply Barriers to entry Control of selling price Number of sellers 12/1 Perfect competition Efficiency of perfect comp. 12/2 Profit maximization MR=D=AR=P MR=MC rule 12/3 Short run supply Shut down decisions 12/4 Behavior of firms Short run vs. long run 12/8 Practice, review, catch-up 12/9 Test: Perfect competition 12/9 Monopoly Sources of market power Natural monopoly Profit maximization 12/10 Inefficiency of monopoly Public policy to promote competition Candy Activity Matrix M=Cht 14pp M. Cht 14pp M=Ch14pp M=Cht14pp M=Cht15pp M=Cht15pp M=Cht.15pp /11 Price discrimination M=Cht 15pp /15 Test - Monopoly 12/16 Oligopoly Interdependence collusion cartels M=Cht 16p Cartel Activity 12/17 Game Theory Strategic behavior Dominant behavior Nash equilibrium M=Cht16pp
5 12/18 Game theory practice Anti-trust policy 1/5 Review and Test - Oligopoly 1/6 Monopolistic Competition Short-run and long-run equilibrium Excess capacity inefficiency 1/7 Product differentiation Role of advertising 1/8 Catch-up 1/12 Test: Monopolistic Comp. 1/13 Review Factors (land, Factor labor,capital) Markets Derived factor demand (10-18%) Marginal revenue product (a.k.a. marginal product of labor) 1/14 Hiring decisions in markets for labor and capital 1/15 Market distribution of income 1/19 Test- Factor markets 1/20 Theory of Consumer Theory of Choice Consumer Total Utility Choice Marginal Utility (5-10%) Utility Maximization (equalizing MU/$) 1/21 Individual and market demand curves 1/22 Income and substitution effects 1/26 Test: Consumer Choice 1/27 Review,catch-up M=Cht 16pp M=Ch17p M=Ch17pp Video: The Persuaders M=Cht. 18pp M=Cht18pp M=Cht19pp M=Cht 21pp KW=pp KW=pp M=Ch21pp464-9 KW=
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DESCRIPTION This course focuses on the study of economic problems and the methods by which societies solve them. Characteristics of the market economy of the United States and its function in the world
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S11Microeconomics, Exam 3 Answer Key Instruction: Exam 3 Student Name: Microeconomics, several versions Early May, 2011 Instructions: I) On your Scantron card you must print three things: 1) Full name
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