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MICROECONOMICS

INTRODUCTION TO AP MICROECONOMICS

The Advanced Placement course in economics gives high-ability students the opportunity to earn college credit in economics while still in high school. More importantly, the content of an AP Economics course helps students develop critical thinking skills through the understanding, application and analysis of fundamental economic concepts. Through AP Economics, students learn to apply quantitative and mathematical skills to the discipline of economics, test economic propositions empirically, improve their decision-making skills and apply economic logic to a wide variety of real world and hypothetical situations.

The AP Program offers two separate examinations in economics: one in Microeconomics and one in Macroeconomics. Each examination is intended for qualified students who wish to complete studies in secondary-school equivalent to a one-semester college introductory course. Students enrolled in this course will be expected to take the 2006 Advanced Placement Examination in Microeconomics.

The 2006 AP Examination in Microeconomics will be held during the afternoon session of Thursday, May 11. This examination is approximately two hours long, and consists of a 70-minute multiple-choice section and a 50-minute free-response section. For scoring purposes, the multiple-choice section of the test accounts for two-thirds of the student's examination grade and the free-response section for the remaining one-third.

In preparation for this examination, this course will be divided into three parts split along trimester lines: the first trimester will be devoted to the study of general economics and business organization; the second trimester will be concerned with the study of cost analysis and market structure; and the third trimester will look at resource markets and market failure. There will be approximately six tests per trimester and Trimester Examinations. Grades will be based on multiple choice test scores, essay test scores, and in-class quizzes.

All students enrolled in AP Economics in the 2005/2006 academic year will take the Test of Understanding College Economics (TUCE) on Friday, August 26, 2005.

Required Text:

MICROECONOMICS, 16th ed. Campbell R. McConnell and Stanley L. Brue. McGraw-Hill, 2004. (this text includes a software student tutorial as well as online unit quizzes).

Supplementary readings (on reserve at the Upper School Library):

The Worldly Philosophers, 7th ed. Robert L. Heilbroner. ISBN 068486214X.
New Ideas From Dead Economists. (Revised). Todd G. Buchholz. ISBN 0452280524.

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