AP Microeconomics is a one-semester course that focuses on how economic decisions are made by individuals, firms, and organizational structures. Supply-and- demand analysis is developed to demonstrate how market prices are determined, how those prices determine an economy’s allocation of goods and services, how factors of production are allocated in the production process, and how goods and services are distributed throughout the economy. We evaluate the strengths and weaknesses of economic decision makers by using the concepts of efficiency and equity. We also analyze and evaluate the effects of government intervention. Emphasis is placed on reasoned logical argument so that we can use economics as a method and model for decision making.
Text and Materials
Gwartney, James D., et al. Economics: Private and Public Choice. Fort Worth: Dryden
Press, 16th Edition, Kindle Edition.
Morton, John S. Advanced Placement Economics: Microeconomics. New York: National Council on Economic Education, 2003. Student Activities.
Studenmund, A. H., Richard L. Stroup, and James D. Gwartney. Coursebook to Accompany Economics: Private and Public Choice. Fort Worth: Dryden Press, 2005.
Emphasizing economic principles as applied to the economy as a whole.