AP Macroeconomics Unit 1 – Introduction to Economics Chapters 1-6, McConnell-Brue, 15th Ed.

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In this unit, students will be introduced to the economic concepts of scarcity, opportunity cost, and marginal analysis. Students will learn and use the production possibility frontier and circular flow models. Students will participate in a simulation of the circular flow and will use the production possibility frontier to analyze the benefits of voluntary exchanges. Students will use the market model to analyze changes in demand, supply, quantity demanded and quantity supplied. Students will understand characteristics of a capitalistic economy and analyze the households, firms and government as economic participants in capitalism. Students will be able to determine comparative advantage, and the benefits from specialization and voluntary trades. Students will understand corporate financing using retained earnings, equity financing and debt financing.

Monday Aug 24 Syllabus, calendar, text Production Possibilities Frontiers HW -Read Chapters 1-2 Lecture Notes 31 Supply Activity Activities 5,6 and HW – Read 4650, Ques. 3,4 5

Tuesday 25 Senior Meeting

Wednesday 26 Practice with PPF Circular Flow Model and CFC Activity HW – Read Ch. 3 Lecture Notes

Thursday 27 PPF/CFC Quiz (Chs. 1,2) Market Demand Activities 3,4

Friday 28 Pep Rally

7 Holiday

Sept 1 Market Equilibrium Activities and HW – Read 50-56, Ques. 2,5,8-11, 15 GRAPH EACH ANSWER 8 Intro International trade Comparative Advantage Activity 49 HW – Read 93101, Ques. 4,5 15 -AP Multiple Choice Review -Practice Question Review

2 Features of a Capitalistic Economy HW - Read 7382, Ques. 4,10,14 9 Consumption possibilities frontiers HW – Read 101110, Ques. 6,7,8

3 3 Sector CFC HW – Read 8390, Ques. 12

4 TW #1 Financing Corporations & CFC Quiz

10 Currency Markets and exchange rates

HW – Ques. 16 11 TW #2 Practice trade questions -Unit Practice Questions Distributed

14 Balance of Payments Activity

16 Unit 1 Test (45 multiple choice questions in 50 minutes)

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