Exam 1 Calendar

This calendar is intended to help you be better prepared for class. ALL READING SHOULD BE DONE PRIOR TO CLASS. Reading quizzes will be given routinely.

There is no need to download the assignments, unless you are absent from class. All assignments will be copied and handed out in class. Late work is not accepted.

If you are having trouble opening any links from this page feel free to go directly to Mr. Mayer's site. http://tw.neisd.net/webpages/dmayer/files/AP%20Syllabus%20Spring%202010.htm

Reading material comes from:
McConnell & Brue 15e Economics (M&B) (Green Textbook)
5 Steps to a 5, 2nd ed. (5s5-2)

Unit 1: Basic Economic Concepts
I. Basic Economic Concepts (8 -12% of exam)
A. Scarcity, choice and opportunity costs
B. Production possibilities curve
C. Comparative advantage, specialization and exchange
D. Demand, supply, and market equilibrium
E. Macroeconomic issues : business cycle, unemployment, inflation and growth

Unit 7: Open Economy: International Trade & Finance
VII. Open Economy: International Trade and Finance (10 - 15% of exam)
B. Foreign exchange market


1/20
Introduction to course, Issue Books
What's economics? Scarcity, Factors of Production, Trade-offs, Opportunity Cost
PowerPoint: Scarcity, Opportunity Cost & PPC

Reading:
(M&B) Ch 1 w/ appendix
(M&B) Ch 2 pp 22-25
(5s5-2) Ch 5 pp 49 - 53

1/22
Production Possibilities Curve, Introduction to economic growth
Economic Systems: Authoritarian & Democratic Socialism v. Market Capitalism
PowerPoint: Economic Systems

Reading
(M&B) Ch 2 pp 25 - 34
(5s5-2) Ch 5 pp 53 - 55; 58 - 59

Assignments:
Activity 1
Worksheet: PPC

1/26
Theory of Comparative Advantage, Gains from trade, Introduction to net exports and barriers to trade
PowerPoint: Comparative Advantage
Thomas Friedman - The Other Side of Outsourcing

Reading:
(M&B) Ch 6
(5s5-2) Ch 5 pp 55 - 57

Assignments:
Activity 2 in Workbook (Activity 6)
Internet: Trade Game
Worksheet: Trade Barriers

1/28
Trade FRQ
Supply & Demand, Elasticity
PowerPoint: Supply & Demand

Reading:
(M&B) Ch 3 pp 40 - 49
(5s5-2) Ch 6 pp 63 - 72

Assignments:
Activities 3-B, 4, 5-B & 6 in workbook
Downloads: (9-B, 10, 12-B & 13)

2/1
Market Equilibrium, Goods and Financial Markets w/ focus on FOREX
PowerPoint: Supply & Demand
Video Lesson: Supply & Demand

Reading prior to class:
(M&B) Ch 3 pp 49 - 55
(5s5-2) Ch 6 pp 72 - 77

Assignments:
Activity 7-B in workbook
Download: Activity 16
Worksheet: Supply and Demand Analysis
Internet: Supply & Demand Practice


2/3
Supply & Demand FRQ
Foreign Exchange Market
PowerPoint: Foreign Exchange
(To watch the embedded videos, it helps if you hit the stop button below and then hit play when it says 'ready'... be patient and let it buffer... to view it in a stand alone player, click on the hyperlink below the media player)
Video Lesson: Foreign Exchange Lesson # 1 The Frenchman and the Sombrero
Video Lesson: Foreign Exchange Lesson # 2 Let's Buy German!!!!!

Reading prior to class:
(M&B) Ch 38 pp 756 - 769
(5s5-2) Ch 17 pp 255 - 258

Assignments:
Activities 53-B & 54
Worksheet: Foreign Exchange
Internet: Foreign Exchange



Unit 2: Measurement of Economic Performance

II. Measurement of Economic Performance (12 - 16% of exam)
A. National income accounts
B. Inflation measurement and adjustment
C. Unemployment


2/5
FOREX FRQ
Circular Flow and the Aggregate Economy
PowerPoint: Circular Flow

Reading prior to class:
(M&B) Ch 2 pp 34 - 35
(5s5-2) Ch 12 pp 169 - 171

Assignments:
Activities 9 & 10
Internet: Understanding the Circular Flow, GDP
Online Quiz


2/9
GDP
PowerPoint: GDP

Reading prior to class:
(M&B) Ch 7
(5s5-2) Ch 12 pp 171 - 176

Assignments:
Activities 11-C, & 12
Worksheet: Is it counted or not counted in GDP
Internet: National Accounting


2/11
Business Cycle and Unemployment
PowerPoint: Business Cycle & Unemployment
Video: Look for Business Cycle concepts, structural unemployment, labor market, creative destruction

Reading prior to class:
(M&B) Ch 8 pp 136 - 146
(5s5-2) Ch 12 pp 176 - 177; 181 - 183

Assignments:
Activities11-A, 16 & 17
Worksheet: Labor Force & Unemployment
Internet: Unemployment


2/16
Price Level and Inflation
PowerPoint: Inflation, CPI, GDP deflator, Real v. Nominal Interest Rates

Reading prior to class:
(M&B) Ch 8 pp 146 - 154
(5s5-2) Ch 12 pp 177 - 181

Assignments:
Activities 11-B, 13 & 15
Worksheet: Inflation - Happy, Sad or ?
Worksheet: Inflation and Price Indexes

2/18
Review
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2/22
Test 1 w/ Unit 2 FRQs
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