Agenda – Macro-Micro Economics

APSI Microeconomics and Macroeconomics (4 Day)

**Important Note: The following outline serves as a general guide but may be tweaked as a result of feedback gathered from pre-institute surveys in order to try and provide the most beneficial outcomes for those in attendance.

Day 1: Intros – CED and AP Classroom – Unit 1, 2 Microeconomics

  • Morning Session
  • Blob Bridge Introductions and Discussion of Pre Workshop Survey
  • Overview and Points of Emphasis of the Week
  • Basic Economic Problem and Solutions Activity
  • NOTE: Class Opening Activity; great for getting students to understand what economics is and introduce the basic economic systems (establish the idea we’ll be analyzing and evaluating the free market system’s ability to achieve the best results for society throughout the rest of microeconomics course
  • Course and Exam Description (CED Overview) and How to Use it Most Effectively
    • Allow time to Exploration, Discussion, and Questions
  • Unit 1 Micro Overview Guide to Most Important and Challenging Concepts/ Most Useful Resources
  • Marshmallow Diminishing Marginal Utility Activity
    • Marginal Analysis and Consumer Optimum Instruction/ Practice Problems
  • Pushups and Love Letters Production Possibilities Curve Activity
    • Identifying Productive Efficient, Inefficient, Unattainable Points
    • Absolute and Comparative Advantage Instruction/ Practice Problems
  • Introduction to AP Classroom and Tips on How to Use It Most Effectively
    • Allow time to Exploration, Discussion, and Questions
  • *Note: we’ll continue to show you
  • Unit 1 Mini AP Exam: MCQ Questions and FRQ (Practice, Grading, Tips)

 

  • Afternoon Session
  • Supplemental Teaching Resources Favorites
    • Best places to learn material for both teachers and students  (efficient + effective)
    • Best places to find engaging material to increase student engagement/understanding
    • Best places for REVIEWING MATERIAL
    • Best places for Completing Practice Questions (AP CLASSROOM and others)
  • Unit 2 Micro Overview Guide to Most Important and Challenging Concepts
  • Market in Wheat or Pearl Exchange Activity (Clifford)
    • Supply, Demand, Equilibrium and Disequilibrium Practice and Analysis Points of Emphasis
      • Graphing, Labeling, and Understanding Market Diagrams
      • Identifying and Calculating Consumer and Producer Surplus
      • Allocative Efficiency vs. Inefficiency (DWL)
    • Determinants of Demand and Supply Practice w/ Partners  (VERY IMPORTANT)
      • Hudsucker Proxy Movie Clip and Discussion
      • TIMER and TESTERFMN  (give examples of other mnemonics for this)
  • Ranking Elasticity Introduction Activity
    • Price Elasticity of Demand and Determinants
    • PED, PES, XED, and YED Conceptual Lecture and Discussion
    • Elasticity MCQ and FRQ Practice
  • Government Intervention Discussion and Instructional Tips and Resources
    • Price Ceilings and Floors
    • Per Unit Tax Analysis
    • Per Unit Subsidy Analysis
    • International Trade (Autarky, Free Trade, Tariff Outcomes)
  • Unit 2 Mini AP Exam: MCQ Questions and FRQ (Practice, Grading, Tips)/ Most Useful Resources

 

Day 2: Units 3, 4, 5, 6 Microeconomics

  • Morning Session
  • Short-Run Production Function Activity
    • Define Short-Run in Terms of Production for a Firm
    • Establish concepts of Marginal Product and its Relation to Marginal Cost
  • Unit 3 Overview Guide to Most Important and Challenging Concepts/ Most Useful Resources
  • Calculating and Graphing Short-Run Costs/Curves Activity and Useful Tips
    • Extremely important Students Know This Well!!
  • Intro to theory of the Firm: Market Structures Activity (ACDC Econ Clifford)
    • Distinguish between Most Important Features of 4 Market Structures (TABLE FILL-IN)
  • PROFIT MAXIMIZATION and Practice Identifying in Various Scenarios
    • MR=MC (possibly most important equation in Microeconomics course)
  • Perfect Competition Graphing/Understaing and Analysis Instruction and Practice
    • Practice, Practice, Practice
      • Side by Side Mkt and Firm, Profit Max, Allocative Efficiency,
  • Unit 4 Overview Guide to Most Important and Challenging Concepts/ Most Useful Resources
    • Simpson’s Mr. Burns and the Sun
  • Monopoly Graphing and Analysis Instruction and Practice
    • Differentitating b/w Government Created and Natural Monopolies
      • Economies of Scale Instruction (Transition from Small to Large Firm SR to LR)
    • Government Regulation of Monopolies
  • Oligopoly Concepts and Introduction to Game Theory
    • Golden Balls Clip (s) to illustrate Interdependence and Potential for Collusion (cartel)
    • Game Theory Payoff Matrix Instruction and Practice FRQs
  • Monopolistic Competition
    • Emphasizing Long-Run Adjustment to SR Profit, Zero LR Economic Profit

 

  • Afternoon Session
  • Labor Market Demand Curve Activity
  • Unit 5 Overview Guide to Most Important and Challenging Concepts/ Most Useful Resources
  • Unit 5 Instruction and Practice for Most Important Concepts
    • Determing Profit Maximizing Hiring Decision
    • Graphing and Analyzing Perfectly Competitive Labor Market
    • Cost-Minimizing Hiring Resource Combo Rule
    • Monopsony Concept/ Graph and Analysis
    • Mini AP Exam (MCQs and FRQ)
  • ManExternalities Video and Discussion Activity
  • Unit 6 Overview Guide to Most Important and Challenging Concepts/ Most Useful Resources
  • Unit 6 Instruction and Practice for Most Important Concepts
    • Defining and Graphing Positive and Negative Externalities
    • Differentiating b/s Private and Public Goods
    • Income Inequity, the Lorenz Curve, and Government Policies to Combat Income Inequality
  • Mini AP Exam (MCQ and FRQ)

Day 3: Units 1, 2, 3 AP Macroeconomics

  • Morning Session
  • Econoland Activity and Circular Flow Model Instruction (Car Analogy)
    • Build and Establish as framework of reference to better understand all of Macroeconomics
  • Review and Discuss Pre-Course Survey on Macroeconomics
  • Unit 1 Overview Guide (compare to AP Micro)
  • Unit 2 Overview Guide to Most Important and Challenging Concepts/Most Useful Resources
  • Intro to GDP Activity and Instruction
    • What is GDP and Why is it Important? How is it Calculated? Why is this imperfect?
    • Differentiating between Nominal and Real GDP (GDP Deflator as Inflation Index)
    • What is Unemployment and How’s it Calculated, and Why is this Imperfect?
    • What is Inflation, How’s it Calculated? Why’s it Important?
      • Emphasize importance of maintaining low and STABLE/PREDICTABLE inflation
    • Understanding the Business Cycle Model
  • Afternoon Session
  • Unit 3 Overview Guide to Most Important and Challenging Concepts/Most Useful Resources
    • AD-AS Model w/ Connections to the Business Cycle and the Circular Flow Model
    • Understanding Determinants and Graphing Short-Run Fluctuations in Economic Activity
    • Fiscal Policies, Tax and Spending Multipliers
  • Mini AP Exam (Units 2 and 3 AP Macro)
  • REVIEWING Most Useful Resources AP Macroeconomics
    • Provide teachers some time to explore resources and align with curriculum (CED)

Day 4: Units 1, 2, 3, 4 AP Macroeconomics

  • Morning Session
  • Unit 4 Overview Guide to Most Important and Challenging Concepts/ Most Useful Resources
    • Strategies and Tips for Teaching trickiest topics in this unit (not cute or fancy but effective)
  • Unit 5 Overview Guide to Most Important and Challenging Concepts/ Most Useful Resources/Tips
    • Strategies and Tips for Teaching trickiest topics in this unit (not cute or fancy but effective)
  • Unit 6 Overview Guide to Most Important and Challenging Concepts/ Most Useful Resources/Tips
    • Strategies and Tips for Teaching trickiest topics in this unit (not cute or fancy but effective)
  • Reviewing and Creating Course Outlines/Pacing/Syllabi Discussion