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 48-50 5 =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. 4-14 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
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 pp99-107 NC 2.17-23 E=pp97-100 5=pp83-93 M=Cht 6pp114-124 M=Cht 6pp124-131; M=Cht. 4 pp82-83; M= Cht 7pp138-143 10/16 Producer surplus M=Cht.7pp143-154 reffonomics MC and graphing 10/20 Deadweight loss = Cht. 8pp160-172
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 KWpp466-471 M=Cht. 10 pp209-219 MC & graphing 10/28 Role of Government Test externalities Public Goods vs private good M= Cht 11 pp223-4 NC=54-56 10/29 Provision of public goods M- Cht 11pp225-227 10/30 Income distribution M=Cht 12pp242-252 (taxes) 11/2 Income Equity M=Cht 12pp253-260 11/4 Lorenze Curve 5=pp162-166 Gini coefficient 11/5 End of Q1 Test: Role of Government 11/10 (10-15%) M= Cht 13, pp267-271, 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 13p274-280 11/18 Long-run costs Economies of scale Cost-minimizing input combination Productive efficiency M=Cht13p280-282 11/19 Review and practice
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 14pp289-291 M. Cht 14pp292-295 M=Ch14pp295-297 M=Cht14pp298-306 M=Cht15pp312-315 M=Cht15pp318-323 M=Cht.15pp 323-327 12/11 Price discrimination M=Cht 15pp329-335 12/15 Test - Monopoly 12/16 Oligopoly Interdependence collusion cartels M=Cht 16p345-352 Cartel Activity 12/17 Game Theory Strategic behavior Dominant behavior Nash equilibrium M=Cht16pp353-360
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 16pp360-365 M=Ch17p373-379 M=Ch17pp380-385 Video: The Persuaders M=Cht. 18pp395-398 M=Cht18pp397-401 M=Cht19pp413-4276 M=Cht 21pp KW=pp230-245 KW=pp245-246 M=Ch21pp464-9 KW=246-249
1/28 End of Qtr. Practice AP exam