• Advanced Placement Economics
    Mrs. Jarrett

     

    Course Description

    AP Economics is divided into two courses and has two AP Exams: AP Microeconomics and AP Macroeconomics. The purpose of the AP course in Microeconomics is “to give students a thorough understanding of the principles of economics that apply to the functions of individual decision-makers within the economic system. It emphasizes the nature and functions of product markets, the study of factor markets, and the role of government in promoting greater efficiency and equity in the economy.” AP Macroeconomics will teach “the principles of economics that apply to an economic system as a whole, with emphasis on the study of national income and price-level determination, economic performance measures, the financial sector, stabilization policies, economic growth, and international economics.”

    AP Economics is a highly structured and very demanding course. A daily schedule of study is required to meet the expectations of this course—typically up to 35 minutes of preparation per class meeting. I intend to challenge you in AP Economics, but I also intend to support you fully, and while the material is difficult, it is also enjoyable and very applicable to the real world. If you work hard, you will be able to see and understand the interplay of economic principles in almost every aspect of daily life.

     

    Course Outline

    course outline

     

     

     

     

     

    Grading

    Your grade in this course is based on your summative work. “Summative” work demonstrates mastery of learning and includes work such as tests, quizzes, essays, and projects. 100% of your grade will come from summative assessments. “Formative” work is done for practice (i.e., classwork and homework); it will not count toward your grade, but I STRONGLY suggest that you complete all formative work as assigned, as it will make a difference in your learning. Students who regularly complete formative work perform much better on summative assessments than students who do not.

     

    Academic Dishonesty

    Students are expected to perform honestly on schoolwork, quizzes, and test.  An academic recovery plan may include a parent-teacher conference, retaking the assessment, an alternative assessment, a lowering of the grade, or receiving a failing grade.  Teachers may take reasonable action to maintain assessment and test security.

     

     

    Reassessments

    Revise with 2020 information

     

    Homework

    One big difference you will notice between an AP class and a typical high school class is that you are given much more individual responsibility to learn the content of the class on your own. Because it is modeled on a college class, you will be expected to practice the concepts we learn in class on a regular basis. Sometimes you will need to use outside resources, such as your textbook, to help you. The homework I will assign each day is designed to help you become active learners outside the classroom.

    1. Problem Sets: Before every class, complete the assigned problem(s) from the problem set for that unit. You may use outside resources (textbook, internet, etc.) to help you.
    2. Current Events: Every quarter, submit an analysis of an economics-related article or news story. The event must have taken place in the past 30 days. Possible sources include newspapers, news magazines, REPUTABLE internet sources (must include web address), journals, etc. The google form or interactive worksheet is located in Schoology.

     

    Expectations

     

    • This class will operate according to all of the principles and rules, as outlined in the Loudoun County Public School system and Loudoun County High School handbooks.
    • Arrive to class on time.
    • Remain alert and participate actively in class/synchronous learning opportunities.
    • Be respectful to the school, to each other, and to me. Be a good digital citizen.
    • Bring your materials to class every day, including your notebook and a pen.
    • Check your Schoology courses and LCPS email daily.
    • Late Work Policy: Late summative work (ex: projects and current events) should be communicated to the teacher prior to class via an e-mail, remind text, or voice mail and it may be evaluated with a sharper eye for details and precision. Work is considered late if it is not turned in at the beginning of class on the day it is due or other posted date/time (e.g. Sunday at midnight). Formative work will be accepted late; however, you will be ineligible for test corrections for that unit.
    • Absentee Policy: it is your responsibility to make up any missed work. Be sure to check Schoology for the day’s assignments and worksheets. Test dates are listed in advance, so you are expected to take tests on test day even if you miss the previous class period. Due dates for make-up work will be set on a case-by-case basis. Late work rules will apply to make-up work if it is turned in after the set due date has passed.
    • Keep in touch. I am available to answer questions and provide guidance via email or during office hours on Mondays.
    • Whenever you use a computer for schoolwork, SAVE OFTEN and keep a backup copy in a safe location (flash drive, email, etc.).
    • When on LCHS property remain silent during fire drills.
    • Communicate with your family, teacher and/or school counselor if you feel you need additional resources or are feeling overwhelmed.

     

    Assistance

    • If you have any concerns about this class and your experience in this classroom, please talk with me. My planning periods are 3rd and 5th My softphone is (571) 440-2530 ext. 34985 leave a voice mail and I will try to respond within 24 hours. Utilize the learning labs at the end of class and my office hours on Monday.
    • E-mail me with questions, comments, and concerns to michiko.jarrett@lcps.org
    • Remind: remind.com
      To receive messages via text     To: 81010      Message: @dd438a4de4
    • Textbook app via LCPS GO: NGL SYNC Principles of Economics 8th ed
    • MyAP College Board Course Code
    • There is a “Tips” list in Schoology that guide you to some wonderful options and useful resources to better understand micro/macroeconomics.

     

    The AP Exam                                               

    • Monday, May 10 at 12:00 pm (Macroeconomics)
    • Wednesday, May 12 at 12:00 pm (Microeconomics)

     

    Those are our dates and times. We will be working toward these dates all year. Having said that, I want to remind you that these exams are a means to an end - not the end in itself. Our aim is to learn and experience the field of economics.

    The exams consist of two parts:

    • 60 questions, multiple-choice format, 70 minutes, worth 66.65% of the score.
    • 3 free-response questions (2 short each worth 5 points, 1 long worth 10 points), 60 minutes total, worth 33.35% of the score.

    The score on the multiple-choice section, scored by a machine, is weighted and combined with the score on the essays, scored by a committee of trained readers. This composite score is then converted to an overall AP score of 1, 2, 3, 4, or 5. The cutoff point between scores varies from year to year, depending on the difficulty of the exam. Most colleges award credit for Introductory Microeconomics or Macroeconomics to students who score a 3, 4, or 5 on the AP Exam.

    All students are encouraged to take both AP exams. However, it is understandable that the online learning environment may take longer to cover the material. If you do not take at least one of the two exams, you will not receive college credit for the course.  (March 13 is the CB no penalty cancel date.)

    See www.apcentral.collegeboard.com for eligibility requirements. Contact your guidance counselor for other financial assistance options.

    Here is a breakdown, by percentage, of the topics covered in the exams:

    AP Microeconomics

    ·       Basic Economic Concepts 12-15%

    ·       Supply and Demand 20-25%

    ·       Production, Costs, Perfect Competition 22-25%

    ·       Imperfect Competition 15-22%

    ·       Factor Markets 10-13%

    ·       Market Failure and the Role of Government 8-13%

    AP Macroeconomics

    ·       Basic Economic Concepts 5-10%

    ·       Economic Indicators and the Business Cycle 12-17%

    ·       National Income and Price Determination 17-27%

    ·       Financial Sector 18-23%

    ·       Long-Run Consequences of Stabilization Policies 20-30%

    ·       Open Economy: International Trade and Finance 10-13%

     

    The free-response questions (FRQs) evaluate students' mastery of economic principles and their ability to solve economic problems by applying their knowledge. These questions often require graphical analysis and are presented in several parts, which typically build from one part to the next.

    We will work on FRQs in a variety of ways. The FRQs here depend entirely on accuracy and attention to detail. Structure, style, grammar, and even spelling count for nothing. You'll love it!

     

Last Modified on August 24, 2020