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AP Macroeconomics Syllabus


The Course:

The course of study includes advance concepts and principles of Macroeconomics. The South Carolina Social Studies Standards will serve as a guide for the content of the course as well as material from the College Board. The Advanced Placement Program is designed for students who are preparing to earn a four-year degree beyond college.  They must be willing to accept the challenge of academic expectations beyond the honors level requirements.  Advanced Placement students should be advanced readers.  College credit is awarded by colleges based on the level of achievement on the AP exam.



Required Materials:


  • Text Book:    Krugman’s Macoreconomics for AP. Ray, Margaret.

4th Edition. Worth Publishers. New York, New York: 2011


  • Work Book: AP Macroeconomics: Student Resource Manual. Ray, A. Margret

4th Edition. National Council on Economic Education. New York, New York: 2012


  • A notebook that has a three-ring binder that allows papers to be added or taken out.
  • Abundant Supply of Loose Leaf paper.
  • All handouts and completed assignments.
  • A pencil and a blue or black pen.


Contact Information:

  • Email: aflowers@wiliston.k12.sc.us  
  • Phone: 803-266-3110 (Office) 803-266-8035 (Classroom)
  • Website: http://www.williston.k12.sc.us/olc/teacher.aspx?s=86
  • Room Number and Planning Periods: Room 133, 4th Block Planning



World Wide Web Resources are located at:








  • Daily Grades:  30% of yearly average

                                (Includes homework, class work, and class participation)


  • Major Grades: 50% of yearly average

(Includes tests and AP FRQ)


  • Exams:            20% of yearly average

                                    (Seniors with a 90 yearly average may exempt the final exam)





Students should follow the procedures for attendance that are outlined in their handbooks. AP Economics is a semester course, therefore; students are not allowed to miss more than six days. Make-up work is the responsibility of the student. All work, including tests, will expire at the end of the quarter. If the work is not made up by the expiration date, then a zero will be given as a grade.  Test corrections will be allowed at the discretion of the teacher. Tardiness will not be accepted. Students should show up to class on time or they will be marked tardy unless they have a pass. Tutoring will be available to students on Thursday afternoons from 3:00-4:00 pm.


Classroom Rules:

  1. Follow all instructions given by the teacher.
  2. Students are to be seated in their desks when the bell rings and to begin on work given by the teacher.
  3. Bring all required materials to class everyday.
  4. Remain respectful at all times.
  5. Make-up work is the responsibility of the student and will not be discussed during class.
  6. At the end of the class, students are to remain seated until they are dismissed by the teacher.




Course Timeline-Approximate timeline of covered topics. Teacher reserves the right to deviate from the timeline if necessary.


Course Schedule




Unit 1


Chapter Reading

Textbook Work


Basic Economic Concepts, The Study of Economics, Intro to Macroeconomics

Module 1 pp. 2-9

Module 2 pp. 10-15

Pg. 9 MC #s 1-5

Pg. 15 MC #s 1-5

Act. 1-1: Do You Think Like an Economist?

Production Possibilities Curve, Comparative Advantage

Module 3 pp. 16-22

Module 4 pp. 23-30

Pg. 22 MC #s 1-5

Pp. 29-30 MC #s 1-5

Act. 1-2:Scaricty, Opportunity Cost, and Production Possibilities Curve (Graphing)

Act 1-3 Determining  Comparative Advantage


Module 5 pp. 48-58

Pg. 57-58 MC #s 1-5

Act 1-4:Demand Curves: Movement and Shifts (Graphing)

Act 1-5: Reasons for Changes in Demand

Supply, Equilibrium

Module 6 pp. 59-70

Pg. 70 MC #s 1-5

Act 1-6: Supply Curves: Movement and Shifts (Graphing)

Act 1-7: Reasons for Change in Supply

Changes in Equilibrium, Price Controls, Review For Test

Module 7 pp. 71-76

Module 8 pp. 77-87

Pg. 75-76 MC #s 1-5

Pg. 86-87 MC #s 1-5

Act 1-8: Equilibrium Price and Equilibrium Quantity (Graphing)

Act 1-9: Shifts in Supply and Demand

Unit One Test







Unit 2


Chapter Reading

Textbook Work


GDP & Circular Flow

Module 10 pp. 102-111

Pg. 111 MC #s 1-5


Act 2-1: Understanding the Circular Flow of the Macroeconomy

Measuring Economic Goals (Employment, Price Stability Economic Growth, Expenditure and Income Approach) Tax System

Module 11 99.112-117

Pg. 116-117 MC #s 1-5


Act 2-2: Gross Domestic Product

Prince Indexes and Inflation

Module 14 pp. 134-141

Module 14 pp. 142-148

Pg. 140 MC #s 1-5

Pg. 148 MC #s 1-5


Act 2-3: Inflation

Act 2-4: Price Indices and Real versus Nominal Values

Act 2-5: The Costs of Inflation

Unemployment & the Business Cycle, Review for Test

Module 12 pp. 118-125

Module 13 pp. 126-133

Pg. 125 MC #s 1-5

Pg. 113 MC #s 1-5


Act 2-6 Unemployment

Act 1-10:The Business Cycle


Unit Two Test





Unit 3


Chapter Reading

Textbook Work


Consumption Function, MPC & MPS Multiplier

Module 16 pp. 158-171

Pg. 170-171 MC #s 1-5


Act 3-2: The Multiplier

Investment and Aggregate Demand, Loanable Funds Market

Module 17 pp. 172-178

Module 29 pp. 277-284

Pg. 178 MC #s 1-5

Pg. 287 MC #s 1-5


Act 3-1: An Introduction to Aggregate Demand (Graphing)

Aggregate Supply, Short & Long Run Equilibrium Models

Module 18 pp. 179-189

Module 19 pp. 190-198

Pg. 188-189 MC #s 1-5

Pg. 198 MC #s 1-5


Act 3-3:Intro to Short Run Aggregate Supply

Act 3-4: Sticky Versus Flexible Wages and Prices

Act 3-5: Short Run Equilibrium Price Level and Output

Act 3-6: Changes in Short-Run Aggregate Supply and Aggregate Demand (Graphing)

Act 3-7: The Types of Inflation

Act 3-8: Long Run Aggregate Supply

Act 3-9: Actual versus Full Employment Output


Fiscal Policy-Discretionary and Automatic

Module 20 pp. 199-208

Module 21 pp. 209-214

Pg. 207 MC #s 1-5

Pg. 214 MC #s 1-5


Act 5-1:Tools of Fiscal Policy

Act 5-2: Discretionary and Automatic Stabilizers

Analyzing Fiscal Policy, Review for Test


p. 219 Problems 23-25

Analyzing the Macroeconomy (Old Mort Book, Act 33)

Unit Three Test





Unit 4


Chapter Reading

Textbook Work


Monetary System

Module 22 pp. 222-230

Module 23 pp. 231-236

Module 24 pp. 237-242

Pg. 229-230 MC #s 1-5

Pg. 236 MC #s 1-5

Pg. 242 MC #s 1-5


Act 4-1: Money and Financial Assets

Act 4-2: Time Value of Money

Equation of Exchange, Fisher Effect

Module 25 pp. 243-252

Pg. 251 MC #s 1-5


Act 4-3: Banks and the Creation of Money

Act 4-8: The Quantity Theory of Money

The Fed and Monetary Policy-Money Market,

Loanable Funds Market

Module 26 pp. 253-261

Module 27 pp. 262-266

Review Module 29

Pg. 260-261 MC #s 1-5

Pg. 266 MC #s 1-5


Act 4-4 The Money Market

Act 4-5 The Loanable Funds Market

The Fed and Monetary Policy-Interest Rates

Module 28 pp. 268-276

Pg. 275 MC #s 1-5


Act 4-6: The Federal Reserve and Central Banking

Act 4-9-Real versus Nominal Interest Rates

Monetary Policy, Effects of, Full Employment, Expansionary Policy, Review for test



Act 4-7: Monetary Policy

Unit Four Test





Unit 5


Chapter Reading

Textbook Work


Effects of Monetary and Fiscal Policy on inflation and real output in the short run,  Crowding out, Graphing Monetary and Fiscal Policy Interactions, Short Run Phillips Curve

Module 31 pp. 307-314

Module 32 pp. 315-320

Module 33 pp. 327-328

Pg. 319 MC #s 1-5


Act 5-3: Monetary and Fiscal Policy

Act 5-4: Policy Effects on Aggregate Supply

Act 5-5:  Monetary and Fiscal Policy Interactions

Act 5-6: The Deficit and Debt

Act 5-7: Crowding Out (Graphing)

Act 5-8: Short Run Phillips Curve (Graphing)

Production and Growth,

Rational Expectations

Module 34 pp.331-242

Module 35 p. 352

Module 37 pp. 368-373

Module 39 pp. 398-404

Pg. 341 MC #s 1-5

Pg. 403-404 MC #s 1-5


Act 5-9: The LRPC and the Role of Expectations.

Act 6-1: Economic Growth

Act 6-2: Productivity

Act 6-3: Policies to Promote Economic Growth.

Reffonomics Practice with Fiscal and Monetary Policy Interactions, Review for test




Unit Five Test





Unit 6


Chapter Reading

Textbook Work


Why nations trade, barriers to trade, comparative and absolute advantage, arguments for and against trade

Review Module 4

Pg. 30 FRQ #s 1-2


Act 49-Determining Comparative Advantage (Old Mort Book)

Act 50-Economic Efficiency and Gains from Trade (Old Mort Book)

Act 7-2: Barriers to Trade

Open-Economy Macroeconomics

Module 41 pp. 410-420

Module 42 pp. 421-429

Module 43 pp. 431-436


p. 694 Questions 1-5

pp. 694-695 Problems 1-12

Act 7-1: Balance of Payments

Act 7-3: The Foreign Exchange Market Graphing)

Act 7-4:How Monetary & Fiscal Policy Affect Exchange Rates (Graphing)

Macroeconomic Theory of the Open Economy

Module 44 pp. 437-442

Module 45 pp. 443-451

Pg. 441-442 MC #s 1-5

Pg. 50 MC #s 1-5


Act 7-5: Net Exports and Capital Flows: Linking Financial and Goods Markets

Unit Six Test





Overall Process Goals-Students will be able to:

  1. Interpret basic and advanced economic concepts.
  2. Analyze key economic issues that affect out lives as workers, consumers, and citizens.
  3. Analyze trends of major changes in the American and world economy.
  4. Evaluate data from major economic indicators.
  5. Evaluate different views on economic issues.
  6. Analyze the expected and actual consequences of personal choice and public policy.
  7. Communicate through oral, written, and graphical interactions.