Advanced Placement Microeconomics is equivalent to a semester of an introductory college course in microeconomics. The rigor of this course is consistent with colleges and universities and will prepare students for the Advanced Placement exam in May. Upon successful completion of the exam, students may receive college credit and will be well-prepared for advanced economics coursework. Additional details on each course from the College Board can be found here: AP Microeconomics.
In this course, students will explore four big ideas:
(1) Scarcity and Markets: Limited resources and unlimited wants result in the need to make choices. In a market economy, the choices of buyers and sellers determine market prices and the allocation of scarce resources.
(2) Costs, Benefits, and Marginal Analysis: There are trade-offs associated with any decision. Making optimal decisions requires evaluating the additional costs and benefits of possible actions.
(3) Production Choices and Behavior: Firms seek to minimize costs and maximize profits, which influences their production decisions in the short run and long run.
(4) Market Inefficiency and Public Policy: Private markets can fail to allocate resources efficiently, and well-designed public policy can endeavor to promote greater efficiency and equity in the economy. Students will investigate Macro topics such as basic economic concepts, economic indicators and the business cycle, national income and price determination, financial sector, long-run consequences of stabilization policies, and open economy – international trade and finance.
This course incorporates a variety of textbook and multimedia resources including an adaptive problem set platform that provides a variety of feedback on student assessments. Students will also connect economic principles to real-world applications and current events, in order to develop a deeper understanding of economics in today’s world.
Students will be expected to enroll in My AP Classroom through their VHS Learning AP course and will be guided to complete review work in My AP Classroom throughout the course. My AP Classroom resources include AP Daily Videos and unit-based Personal Progress Checks, which include AP-style multiple choice and free response questions.
Students enrolled in VHS Learning Advanced Placement courses with a passing grade are expected to take the AP Exam. Students register for AP exams through their local school or testing site as “Exam Only” students. AP exam scores will be reported to VHS Learning through My AP Classroom; exam results will not affect the student's VHS Learning grade or future enrollment in VHS Learning courses.
About the Self-Paced Course Model
Self-Paced courses are comprehensive, self-paced courses designed for students who need or desire more flexibility in their academic schedule. VHS Learning teachers will regularly interact with students in asynchronous discussions, will host weekly office hours, and will invite students to monthly 1-on-1 progress meetings. Teachers will support students, answer questions, and provide feedback on work. Students will work independently on course activities; the course does not include class discussion assignments or other collaborative work.
Students may start this course on any Monday from September (after the American Labor Day holiday) through the first Monday in December. Students must maintain enrollment for a minimum of 12 weeks and have until mid-June to complete all assignments in the course. It is expected that students will work for approximately 170 hours to complete this course, though the amount of time may vary depending on a student’s work habits and comfort with the material.
Course Essential Questions:
- How do markets allocate goods and services in a world of scarcity?
- How does marginal analysis help to explain human behavior?
- How do profit-seeking firms make production decisions in the face of cost and market competition pressures?
- Why do markets sometimes fail to produce socially optimal outcomes, and what are some solutions to these problems?
Course Learning Objectives:
- Define and interpret economic principles and models.
- Explain given economic outcomes.
- Determine outcomes of specific economic situations.
- Model economic situations using graphs or visual representations.