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AP Macroeconomics (NCAA Approved)

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Open to: Grades 9 - 12

Prerequisites: Qualifying reading/verbal or math score and completion of Algebra II or the equivalent

Course Format: Session Based. See calendar for session dates and application deadlines.

Course Length: 30 weeks (Academic Year) or 12 weeks (intensive Winter, Early Summer, Mid-summer)

Recommended School Credit: One academic year

Student Expectations: Students are strongly encouraged to work an average of 10-14 hours per week for intensive 12-week sessions with no breaks, and 4-7 hours per week for the 30-week session with breaks for holidays.

Course Code: APMA

Course Description

Description

AP Macroeconomics is an introduction to how the market system works, how prices are determined, why shortages and surpluses occur, and why incomes differ.

Topics include:

  • national income
  • price determination
  • economic performance measures
  • economic growth
  • international economics

This course, which prepares students to take the AP Macroeconomics exam, draws on software provided by Thinkwell. It has been reviewed and approved by the College Board to use the "AP" designation.

Materials Needed

There are no required materials for this course.

Detailed Course Information

Course Details

I. Basic Economic Concepts

  • Defining Economics
  • What Economists Do
  • Production Possibilities Frontier
  • An Overview of Economic Systems
  • Determining the Components of Demand
  • Determining the Components of Supply
  • Determining a Competitive Equilibrium
  • Recessions, Depressions and Booms

II. Measurement of Economic Performance

  • The Circular Flow Model
  • Real GDP
  • The New BEA Procedure for Calculating Real GDP
  • Changes in the Cost of Living and the CPI
  • Calculating the Rate of Inflation
  • Measuring the Labor Force and Unemployment
  • Types of Unemployment
  • Understanding the Natural Rate of Unemployment

III. National Income and Price Determination

  • Deriving the Aggregate Demand Curve
  • Movement along the Aggregate Demand Curve
  • The Market for Loanable Funds and Crowding Out
  • Shifts in Aggregate Demand
  • The Short-Run Aggregate Supply Curve
  • The Long-Run Aggregate Supply Curve
  • The Labor Market
  • The Classical View
  • Equilibrium in the Long Run and the Short Run
  • Long-Run Macroeconomic Equilibrium

IV. Financial Sector

  • The Money Supply
  • Banks Create Money
  • Determinants of Money Demand
  • The Money Market
  • The Market for Loanable Funds
  • The Federal Reserve System
  • The Fed's Tools of Monetary Policy
  • How the Fed Changes the Money Supply
  • The Quantity Theory of Money
  • How the Fed Changes the Money Supply

V. Inflation, Unemployment and Stabilization Policies

  • Unanticipated Changes in Aggregate Demand
  • Unanticipated Changes in Aggregate Supply
  • Fiscal Policy
  • New Keynesians versus Monetarists
  • New Classical Macroeconomics
  • The U.S. National Debt
  • Inflation, Deflation, Stagflation and Hyperinflation
  • Short-Run Causes: Demand-Pull and Cost-Push
  • Definitions and the Historical Record
  • Expectations and the Phillips Curve

VI. Economic Growth and Productivity

  • Investment
  • Other Policies to Encourage Growth
  • Policies to Promote Growth

VII. Open Economy

  • Trade Balance
  • Balance of Payments
  • Nominal Exchange Rate
  • Real Exchange Rates
  • Purchasing Power Parity
  • Floating and Fixed Systems
  • The Managed Float
  • The International Flow of Goods and Services
  • Understanding Exports in an Open Economy

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Technical Requirements

This course requires a properly maintained computer with high-speed internet access and an up-to-date web browser (such as Chrome or Firefox). The student must be able to communicate with the instructor via email. Visit the Technical Requirements and Support page for more details.

This course uses an online virtual classroom for discussions with the instructor. The classroom works on standard computers with the Adobe Connect Add-in or Adobe Flash plugin, and also tablets or handhelds that support the Adobe Connect Mobile appStudents who are unable to attend live sessions will need a computer with the Adobe Connect Add-in or Adobe Flash plugin installed to watch recorded meetings. The Adobe Connect Add-in, Adobe Flash plugin, and Adobe Connect Mobile app are available for free download. Students who do not have the Flash plug-in installed or enabled on their browsers will be prompted to download and install the Adobe Connect add-in when accessing the virtual classroom.

 

Demo

Select the image below to view the online demo (requires Flash plugin).

AP Macroeconomics demo