AP Economics*
Grade 12
1 credit
Is there really no such thing as a free lunch? Why do economists say that if you want something done correctly, you shouldn’t necessarily do it for yourself? AP Economics is a fast-paced, college-level course designed to introduce highly motivated, highly independent, and academically talented seniors to economic analysis. The first semester is devoted to the basic principles of microeconomics, such as cost structure, the theory of the firm, factor markets, and the role of government within the economy. During the second semester, students learn to analyze the intricacies of the aggregate economy. The models used examine national income, employment, and price levels, and explore how stabilization policies (fiscal and monetary) affect economic growth in an integrated world economy. Analysis includes the impact of financial and trade interactions between nations. A unit on different macroeconomic models completes the curriculum. Preparation for the national AP exams in May is also emphasized. Students will sit for two AP exams in the spring: one for AP Microeconomics, and the other for AP Macroeconomics.
*Prerequisite: Permission of the department and, if not enrolled in a previous AP history course, successful completion of a placement exercise
*Corequisite: Calculus