Welcome to AP Economics

1. Welcome to AP Economics • Text: Mankiw, Gregory N. Principles of Economics. 2nd ed. Harcourt College Publishers • 5 Steps to a 5: AP Microeconomics/Macroeconomics study guide; published by McGraw-Hill. - highly recommended students purchase this book - will be used at the discretion of the student - especially important in preparation for AP Exam in May

2. Economic Theory • Mainstream economic theory relies upon a priori quantitative economic models, which employ a variety of concepts. • Theory typically proceeds with an assumption of ceteris paribus, which means holding constant explanatory variables other than the one under consideration. • When creating theories, the objective is to find ones which are at least as simple in information requirements, more precise in predictions, and more fruitful in generating additional research than prior theories.

3. This course is a full year concentrated study of the principles of Economics as they apply to both consumers and businesses within the larger economic system. • First Semester: Microeconomics • Areas of concentration will include the roles of consumers and businesses in our economy, the different types of markets that businesses compete in, and the roles of the government in our economy. *There will be a short introduction unit on the stock market (even though this is not part of the AP Econ curriculum)

4. Second Semester: Macroeconomics • Areas of concentration will be on the national economy, fiscal (government) policy and its effects, monetary (banks) policies and their effects, and international trade. • *A more complete description of the AP Econ curriculum can be found under my class files on the school’s web site. • *Following the AP Test in May, there will be a brief unit on Personal Finance.

5. AP TEST **Students in this class will prepare to take both the Micro and the Macroeconomics A.P. test in May • which may earn them college credit or advanced placement in college. • You are only REQUIRED to take one of the AP Econ Exams. You are ENCOURAGED to take both.

6. Bring all supplies every day. You will not be allowed to return to your lockers to retrieve necessary supplies. • Textbook / Notebook / Folder / Pen/Pencil : Colored pens or pencils may help when dealing with graphs. • *Pencils are recommended every day since you will be drawing many graphs throughout the year. • Calculators may be necessary for some units; BUT calculators are not permitted on the AP Exam.

7. Evaluations: • Homework: • There will be a substantial amount of homework each week. It is important to keep up with in-class notes and reading. Some homework will be checked and collected, some will not. • All work is due on the assigned date. NO late work will be accepted

8. Assessments = Quizzes and Tests = 80%: • Periodic quizzes will be administered, both announced and unannounced. • Tests: • Tests typically cover 1 to 2 chapters from the text. You will be notified at least one week in advance. Tests will resemble the format of the AP Exam with multiple choice and free response questions.

9. Absences: in case of an absence, you are expected to check the website for the plans and work for the day. You have two days to turn in the missed assignments. • If you are absent on the day of a test, you are required to take the test in the testing center the day you return to class unless accompanied with a written excuse from your parents.

10. Participation: • All students are expected to participate on a daily basis. • Grades: Grades will be kept on the school network and will be rounded automatically by the computer system. I will NOT ALTER or CHANGE ANY GRADES.

11. This is a year long class/grade: • 1st Qt x 2 + 2nd Qt x 2 + Mid Term x 1 3rd Qt x 2 + 4th Qt x 2 + Final Exam x 1 • Example 1st Qt B x 2 (3 x 2) = 6 2nd Qt A x 2 (4 x 2) = 8 Mid Term C x 1 (2x1) = 2 • 3rd Qt B x 2 (3x2) = 6 4th Qt B x 2 (3x2) 6 Final Exam B x 1 (3 x1) = 3 Total = 31 pts = B • A = 40-35 B = 34-25 C = 24-15 D = 14-5 F = 4-0

12. Final Exam in June • There will a final exam in June which will cover only the Personal Finance unit that we study after the AP Exam during the last two weeks of school. • *Finally: • It is fully expected that all students entering AP Economics are interested in learning economic concepts and have a desire to challenge themselves and work hard. Your behavior should and will reflect this attitude. Any behavior that does not uphold to these expectations will be dealt with accordingly.

13. AP Econ Signature – due Friday • AP Economics 2013-2014 • Name (print) :________________________________________________________ • Home Phone: ( __ __ __ ) ___ ___ ___ - ___ ___ ___ ___ • Mother’s Name (print): _______________________________________________________ • Cell: ( __ __ __ ) ___ ___ ___ - ___ ___ ___ ___ • Work: ( __ __ __ ) ___ ___ ___ - ___ ___ ___ ___ • Father’s Name (print): _______________________________________________________ • Cell: ( __ __ __ ) ___ ___ ___ - ___ ___ ___ ___ • Work: ( __ __ __ ) ___ ___ ___ - ___ ___ ___ ___

14. I have read, understand, and accept the class syllabus and expectations for AP Econ. • I recognize that I am responsible for my grade. The teacher does not assign points to me, but rather I earn the points I get in this class. At the end of each grading period, I understand that the grade I have is the grade I earned and the grade I deserve. • Have your parents review the syllabus/expectations and sign below. Return by Friday 8-22-14 • _______________________________ • (Student’s signature) • _______________________________ • (Parent name-print) • _______________________________ • (Parent’s signature)