AP Microeconomics: Syllabus 1

Syllabus 1058788v1

Scoring Components Page(s)

SC1 The course provides instruction in basic economic concepts and promotes understanding of 2
economic decision-making factors, such as marginal analysis and opportunity costs.
SC2 The course provides instruction in the nature and functions of product markets: Supply and Demand 2
Model.
SC3 The course provides instruction in the nature and functions of product markets: Consumer Choice. 2
SC4 The course provides instruction in the nature and functions of product markets: Production and Costs. 2
SC5 The course provides instruction in the nature and functions of product markets: Market Structures. 2
SC6 The course provides instruction in factor markets. 3
SC7 The course provides instruction in market failure and the role of government in correcting market failure. 3
SC8 The course teaches students how to generate graphs and charts to describe economic concepts. 34
SC9 The course teaches students how to interpret and analyze graphs, charts, and data to describe 4
economic concepts.

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AP Microeconomics Syllabus 1 Syllabus 1058788v1

Course Planner SC1The course provides

Unit 1: Basic Concepts, 1 week [SC1] instruction in basic
economic concepts and
Key Topics: Scarcity, Choice, Opportunity Cost, PPF, Basic Marginal Benefit/Marginal promotes understanding of
Cost Analysis economic decision-making
Readings: Chapter 1, pp. 411; Chapter 2, pp. 2428 factors, such as marginal
analysis and opportunity
Assessment: Quiz with two short-answer questions and six to eight multiple-choice costs.
questions

Unit 2: Supply and Demand, 3 weeks [SC2] SC2The course provides

instruction in the nature
Topics: Demand, Law of Diminishing Marginal Benefits, Supply, Consumer and Producer
and functions of product
Surplus, Allocative Efficiency, Deadweight Loss, Elasticity, Total Revenue Test, Price markets: Supply and
Discrimination, Price Floors and Ceilings, Efficiency versus Equity, Consumer Choice/ Demand Model.
Optimal Purchase Rule [SC3]
Readings: Chapter 4; Chapter 5, pp. 8999; Chapter 6; Chapter 7; Chapter 8, SC3The course provides
pp. 164169; Chapter 15, pp. 337339; Chapter 21, p. 447 instruction in the nature
and functions of product
Assessment: Test with one long-answer question, two short-answer questions, and
markets: Consumer Choice.
eight to twelve multiple-choice questions.

Unit 3: Costs and Revenues, 3 weeks [SC4] SC4The course provides

Topics: Law of Diminishing Marginal Returns, Economies of Scale, Costs (fixed, instruction in the nature
variable, marginal), Cost Curves (relationship between curves), Total and Marginal and functions of product
Revenues, Profit and Loss (MR/MC and TR/TC), Break-Even, Shut Down, Economic Profit markets: Production and
versus Normal Profit Costs.

Reading: Chapter 13
Assessment: Test with one long-answer question, two short-answer questions, and
eight to twelve multiple-choice questions

Unit 4: Perfect Competition, 3 weeks [SC5]

Topics: Assumptions, Relationship Between Industry and Firm, Profit Maximization, SC5The course provides
Long-Run Equilibriums, Short-Run Equilibriums and the Adjustment Mechanism, instruction in the nature
and functions of product
Allocative Efficiency (for a firm)
markets: Market Structures.
Reading: Chapter 14
Assessment: Test with one long-answer question, two short-answer questions, and
eight to twelve multiple-choice questions

Unit 5: Imperfect Competition, 3 weeks [SC5]

Topics: Relationship Between Price and MR, Barriers to Entry, Profit Maximization,
Monopoly, Regulation, Natural Monopoly, Oligopoly and Duopoly Game Theory with
Game Tree and Payoff Matrix (dominant strategy, Nash Equilibrium, collusion, prisoners
dilemma, interdependence), Collusive Oligopoly, Monopolistic Competition (long run
and short run) (Note: Examine each imperfectly competitive market structures effect

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AP Microeconomics Syllabus 1 Syllabus 1058788v1

on allocative efficiency and consumer and producer surplus, and make comparisons to
perfect competition.)
Readings: Chapter 15; Chapter 16, pp. 345361; Chapter 17, pp. 373380, 385
Assessment: Test with one long-answer question, two short-answer questions, and
eight to twelve multiple-choice questions

Unit 6: Factor Markets, 2 weeks [SC6]

SC6The course provides
Topics: Factors of Production (review definitions of marginal revenue, marginal instruction in factor
product, the law of diminishing marginal returns), Derived Demand, Marginal Revenue markets.
Product Analysis, Optimal Purchase Rule, Perfectly Competitive Factor Markets, Profit
Maximization/Cost Minimization Rules, Monopsony, Economic Rent, Distribution of
Income Among Factors, Unions, and Non Labor Factor Markets
Readings: Chapters 18 and 19; Chapter 20, pp. 440445
Assessment: Quiz with two short-answer questions and six to eight multiple-choice
questions

Unit 7: The Role of Government, 2 weeks [SC7] SC7The course provides

Topics: Role of Government, Public versus Private Goods, Marginal Social Cost/Marginal instruction in market failure
Social Benefit Analysis, Market Failures, Positive and Negative Externalities, Taxes, Free and the role of government
Riders, Tragedy of the Commons in correcting market failure.

Readings: Chapters 10 and 11 (and parts of 12, if time allows)

Assessment:
1. Quiz with two short-answer questions and six to eight multiple-choice questions
2. Extra credit AP Released Exam free-response section
Comprehensive Final Exam: One long-answer question, two short-answer questions,
and a full multiple-choice section (60 questions) of an AP Released Exam.

Student Evaluation
Student grades are determined as an average of tests, quizzes, papers, and extra SC8The course teaches
credit assignments. Tests and quizzes use AP-style free response and multiple-choice students how to generate
questions. [SC8] Grades are broken down as follows: graphs and charts to
describe economic
Tests 40% Units 2, 3, 4, 5 concepts.
Quizzes 10% Units 1, 6, 8
Papers 30%
Project 10%
Final 10% AP Released Exam free-response section

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AP Microeconomics Syllabus 1 Syllabus 1058788v1

Student Resources [SC9] SC9The course teaches

Mankiw, N. Gregory. Principles of Economics, 3rd ed. Mason, OH: Thompson South- students how to interpret
Western, 2004. and analyze graphs, charts,
and data to describe
Morton, John S., and Rae Jean B. Goodman. Advanced Placement Economics: economic concepts.
Microeconomics, Student Activities, 3rd ed. New York: National, 2004. [SC8]
SC8The course teaches
students how to generate
graphs and charts to
describe economic
concepts.