Quarter #1:
Week 1
[8/18-22]: (4) [Freshman
Orientation (M)];
Course requirements & expectations; text distribution. (T)
Student Group Lesson
Preparation (W/Th.)
Student
Lessons Presented (F) Scarcity, Choice, & Production Possibilities;
[Read Text: Ch.1]
[Student Lessons due -- Friday]
Week 2
[8/25-29]: (5) [Mass 8/27]
Student
Lessons presented (M-W).
The Market System & 3
Fundamental Questions; Demand & Supply;
Reinforcement exercises (Th./F)
[Read Text: Ch.2, 3,
& 4]
[Annotated Article Review #1 due -- Friday][Paper #1/or Documentary
Assignments]
Week 3
[9/1-5]: (4) [Labor Day: (M)][Senior Panoramic Photo (W)]
Intro
to Macroeconomics;
Circular
Flow of the Macro-economy;
Broad Economic & Social Goals.
Activities:
Student Activities 5; 6; 7; 8; 9
“Test
of Macroeconomic Thinking:”
(Scarcity; Resources;
“Understanding
the Circular Flow of the Macroeconomy”
(Diagram/Graphing)
(Business; Government; Households;
Resource Markets; Product Markets)
“Numbers
that Make the News”
(
“Measuring
Economic Goals”
(Defining & Calculating Employment,
Unemployment, Inflation,
Nominal & Real
(Consumption; Investment; Gov’t Spending; Net Exports; Transfer Payments)
Graphs:
Circular Flow
Week 4
[9/8-12]: (5) [Mass 9/10]
Price Indexes &
Inflation
Activities: Student Activities 10; 11; 12
“
(
“Price Indexes”
(Base Year Cost; Market Basket; Comparing
“Who is Hurt and Who
is Helped by Inflation?”
(Lender vs. Debtor)
[Annotated Article Review #2 due Friday]
Week 5
[9/15-19]: (5) Unemployment;
The
Business Cycle
Aggregate
Demand & Supply.
Activities: Student Activities 13; 14; 16; 17
“Types of Unemployment”
(Frictional; Cyclical; Structural; Seasonal)
“The Business Cycle”
(Peak; Trough; Expansionary; Contractionary)
“Introduction to Aggregate Demand”
(Price Level; Real National output/
“An Introduction to Short-Run
Aggregate Supply”
(Keynesian/Recessionary Range; Sticky Wages; Unemployed Resources;
Intermediate Range; Classical/Vertical
Range; Full Employment; Fully Employed Resources)
Graphs: Business Cycle
Aggregate
Supply & Demand Model
[Exam #1 – Friday (through Unemployment]
Week 6
[9/22-26]: (5) Aggregate Demand &
Supply: Long vs. Short Term Affects on Output & Price Level (M-F)
Activities: Student Activities 18; 19; 20
“The
Equilibrium Price Level and Equilibrium Output”
“Long-Run
Aggregate Supply (LRAS) & Production Possibilities Curve (PPC)
“Manipulating
the AD/AS Model: Exogenous Demand and Supply Shocks”
Graphs:
Aggregate Supply & Demand Model
[Paper #1 (Economic Current Events or “Voice
of Democracy” speech) due -- Monday]
Week 7
[9/29-10/3]: (5) [Cafetorium Ceremony (W)]
Keynesian
vs. Classical theories
Marginal Propensity to Consume/Save
Consumption & Savings Function
Activities: Student Activities: 21; 22; 23; 24; 25
“Full Employment in a Capitalist Economy (Part I: Keynesian Analysis)”
(Unemployed Resources; Sticky Wages &
the non self-correcting economy)
“Full
Employment in a Capitalist Economy (Part II: Classical Analysis)”
(Fully Employed Resources; Say’s Law;
flexible wages & the self-correcting economy)
“Classical
and Keynesian Views on the Economy”
“What
is an MPC?”
(Marginal Propensity to Consume; Marginal
Propensity to Save)
“The
Consumption Function”
(Consumption Expenditure; Disposable
Income; 45 degree line)
Graphs:
Aggregate & Supply Model
Aggregate
Expenditure Model (Keynesian Cross)
Week 8
[10/6-10]: (5) [Faculty Meeting
(M)][Quarter Exams Periods A & C: (F)]
Investment
Function
The “Multiplier”
Keynesian Equilibrium,
Recessionary/Inflationary Gaps
Activities:
Student Activities: Activities: 26;
27; 28; 29
“Plotting
the Investment Function”
(Aggregate Expenditure; Investment
Expenditure)
“The
Magic of the Multiplier”
(The Multiplier & its calculation)
“Keynesian
Equilibrium w/o Government”
(plotting
income-expenditure; Recessionary Gaps & Inflationary Gaps)
“Reconciling
the Keynesian Aggregate Expenditure Model
with the Aggregate
Demand & Supply Model”
Graphs: Aggregate & Supply Model
Aggregate
Expenditure Model (Keynesian Cross)
[Exam #2 – Friday]
Week 9
[10/13-17]: (3) [Quarter Exams:
(M/T)][PSAT: (W)][Teacher Workday: (F)]
Student
Group Lesson Prep (M/T/Th.)
Quarter
#2
Week 10 [10/20-24]: (5) Fiscal Policy
Money
& Banking;
The Federal Reserve & Monetary Policy;
Student Lessons presented
Reinforcement lectures/activities follow
presentations
Discussion of the Net Export Effect for Monetary
& Fiscal Policy: How Monetary & Fiscal policy influence: interest rates
in the money market, international capital flows, foreign exchange markets, the
value of the dollar and subsequent U.S. exports & global trade.
Activities: Student Activities: Activities: 30; 31;
32
“Discretionary
and Automatic Fiscal Policy”
(Automatic Stabilizers; Budget Surplus;
Budget Deficit; Countercyclical Fiscal Policy)
“The
Tools of Fiscal Policy”
(Taxes; Government Spending; Transfer
Payments; Contractionary &
Expansionary Fiscal Policy)
“
(graphing fiscal
policy with the Aggregate Expenditure Model)
Graphs: Aggregate
& Supply Model
Aggregate
Expenditure Model (Keynesian Cross)
[Student Lessons due -- Monday]
Week 11 [10/27-31]: (5) Money & The Banking System;
The Federal Reserve &
Monetary Policy
Reinforcement Activities
Activities: Student
Activities: 33; 34; 35; 36; 37; 38
“Analyzing
the Macro-economy”
“Money
Is as Money Does”
(functions of money; double coincidence of wants; medium of exchange;
store of value; standard of value)
“What’s
All This About the M’s?”
(M1; M2; M3; Demand Deposits; Time
Deposits)
“The
Monetary Equation of Exchange”
(MV = PQ; Velocity of money)
“The
Multiple Expansion of Demand Deposits”
(Required Reserves; Excess Reserves; Loanable funds; Interest Rates)
“Reserve
Requirements and the Multiplier”
(Money Multiplier)
Graphs: Aggregate & Supply Model
Aggregate
Expenditure Model (Keynesian Cross)
Money
Market
Week 12 [11/3-7]: (4) [Homecoming
Week]
[Early Release: Faculty
Meeting (M)][Field Day (T)][Report Card Night (W)]
Keynesian Contractionary & Expansionary Monetary Policy; Policy Decision-making
Monetarist
Theory;
“The
Fed’s” Dilemma with Monetary Policy.
Activities:
Student Activities: Activities: 39;
40; 41; 42
“The
Federal Reserve System and Monetary Policy”
(Open Market Operations; Bonds;
Securities; Discount Rate;
Federal Funds Market; Reserve
Requirements)
“Monetary
Policy”
“Graphing
Keynesian Monetary Policy”
(Supply & Demand for money in the
Money Market; Impact on Investment
expenditures
& Aggregate Demand)
“Monetarist
Monetary Policy”
Graphs: Aggregate & Supply Model
Aggregate
Expenditure Model (Keynesian Cross)
Money
Market
Investment
Schedule/Curve
Week 13 [11/10-14]: (4) [Veteran’s
Day: No Classes (T)][Diakonia
Retreat (W-Th.)]
Fiscal
& Monetary Policy: Decision-making
“Crowding
Out” The potential impact of Expansionary Fiscal Policy Decision-making;
Phillips Curve: Short run trade-off between unemployment
& inflation; Long-Run & vertical Phillips Curve
Activities:
Student Activities: Activities: 43;
44; 45
“Monetary
& Fiscal Policy” (Counter-cyclical policy decision-making)
“Graphing
Monetary and Fiscal Policy Interactions”
“Crowding
Out: A Graphical Representation”
(Crowding Out/In: defined, explained, and
graphed)
Graphs: Aggregate & Supply Model
Aggregate
Expenditure Model (Keynesian Cross)
Money
Market
Phillips
Curve
[Paper #2 (or optional Group Documentary) due-Monday]
Week 14 [11/17-21]: (4) [Plan
Testing (F): Juniors & Seniors off]
Economic Growth & Productivity
Analyzing Short-Run &
Long-Run Effects of Monetary & Fiscal Policy
Activities:
Morton, Student Activities:
Activities: 46; 50
“Economic
Growth and the Determinants of Productive Capacity”
(Economic Growth & impact on standard
of living; measurement; productivity; real investment/capital; interest rates;
savings rates; human capital/skills development; technology; legal &
social environmental factors)
“Analyzing
Short-Run & Long-Run Effects of Monetary Policy”
Graphs: Aggregate & Supply Model
Aggregate
Expenditure Model (Keynesian Cross)
Production
Possibilities Curve
[Exam #3 -- Monday]
Week 15 [11/24-28]: (3) [Thanksgiving
Break Th./F (and W if Raffle goal met)]
Macroeconomic Theories: Schools of Thought
[Classical; Keynesian; Monetarist; Rational Expectations/New Classical] Student
Macroeconomic Theory Presentations
[Macroeconomic Theories Presentations
due--Monday]
Week 16 [12/1-5]: (5) [Early
Release: Faculty Meeting (M)]
Macroeconomic
Theories Student
Macroeconomic Theory Presentations (if necessary)
Benefits of Trade &
Specialization: Open vs. Closed economy
Comparative vs. Absolute Advantage
Barriers
to Trade: Tariffs & Quotas
Balance
of Trade
Current
Account Balance;
Capital
Account Balance;
Balance
of Payments
Activities:
Morton, Student Activities:
Activities: 55; 56; 57; 58; 60
“The
“Determining
Comparative Advantage”
“The
Gains From International Trade”
(economic
efficiency)
“Economic
Efficiency and the Gains from Trade”
“Imbalance
of Payments”
Graphs: Production Possibilities Curve
Supply
& Demand Curves
Week 17 [12/8-12]: (5) [Christmas
Activity Week][Mass (M)]
Exchange Rates & Currency Values
Activities:
Student Activities: Activities: 61;
62; 63
“Using
Foreign Exchange Rates”
“Using
Supply & Demand to Analyze Exchange Rates”
“The
International Effects of Monetary & Fiscal Policies”
Review
for Final Exam
Graphs: Money Markets
[Exam #4 – Thursday]
Week 18 [12/15-19]: (1) [Semester Exams 12/16-18][Teacher Work Day 12/19]
Semester Exam Free
Response portion (M); Semester Exam Multiple Choice Section (Exam Day)
[Semester
Exam = Mock AP Exam]