1. Klein Fall 2015 AP Microeconomics Syllabus
Textbook:
Primary:
Bade,Robin & Parkin, Michael, Foundations of Economics, 7th
Edition, Pearson Publishing 2015
Supplemental:
Mankiw, Gregory N., Principles of Economics, 6th
Edition, Fort Worth, Harcourt College Publishers
Contact Klein:
Phone: 696-8061 Flowing Wells High School Room 22 Email: travis.klein@fwusd.org
Readings:
Wall Street Journal & The Economist
Students are expected to review various articles of interest and relevance to the topics discussed in the course. Rubric for
article review is attached.
Internet Resources:
Pearson My Econ Lab: http://www.pearsonmylabandmastering.com/northamerica/myeconlab/
Mr. Klein slideshows: http://misterklein.wordpress.com
Massachusetts Institute of Technology Online Economics course: http://ocw.mit.edu/courses/
Business and Economics Glossary: http://www.investopedia.com
Materials:
Students are expected to bring writing materials, paper notebook to class every day. Students are also expected to have
their own white board marker for use in class daily. Mr. Klein will provide students with a graphing notebook for their
use however they can also use a notebook of their own choosing.
Attendance:
Regular attendance and punctuality are essential to learning the material of this course. Ten percent of your grade is
derived from in-class assignments and homework assignments turned in on time. The material is analytical and
cumulative and any gaps in your notes will assume the proportions of a large canyon. There is much material presented in
class that is not in the Bade/Parkin textbook or the AP Economics Workbook by John Morton and Rae Jean Goodman.
Work turned in one week after it was assigned will receive a 50% penalty. Late work will be accepted up to the end of the
8th
week of the quarter. These dates will be announced in class. For example: Quarter 1 ends on October 9, so the late
work deadline is October 2.
Students are expected to follow the Flowing Wells attendance policy. Make up work is available for students with
excused absences. Missing work will also be posted at http://misterklein.wordpress.com or can be requested by emailing
Mr. Klein. Bellringers and cooperative work cannot usually be made up in case of an absence.
What do I do if I am tardy without a pass?
You have an unexcused tardy. I will mark the 5th
Tardy: Automatic office referral
Exams:
You will have 4 exams in this class, plus a final exam. ALL OF THESE EXAMS ARE REQUIRED EXAMS,however I
will drop your lowest score. The knowledge you gain in this class is cumulative, so anything that is taught from the
beginning of the class to the date of the exam is fair game. The final exam is cumulative.
You will have four, exams consisting of both multiple choice and free response questions. The multiple choice portion of
the exam will be 67% of the exam grade and the free response portion will be 33% of the exam grade. I will drop the

2. lowest exam score. Please remember these four exams are worth 40 percent of your grade in this class. If you are unable
to take an exam during class it is your responsibility to arrange a time with Mr. Klein when you can take the exam.
Short Quizzes:
Periodically, and generally without warning, I will give short 5, 10 or 15 question multiple or short answer choice quizzes.
These are often at the beginning of class and students who are tardy will not be able to make them up for credit. Many
students struggle with multiple choice questions and one way to improve is with practice and direct feedback. These short
quizzes also help the instructor and the students judge the students’ level of understanding prior to an exam.
Grading Scale:
Your grade is based upon the following criteria (no exceptions):
Exams (four during the semester) 40 percent
In-class and homework assignments 40 percent
Final Exam 20 percent
Your final grade in the class is based upon the following grading scale (no exceptions):
90 – 100 percent A
80 - 89 percent B
70 – 79 percent C
60 – 69 percent D
59 - 0 percent F
Academic Honesty:
Students will be expected to follow the Pueblo Honor Code. Students cheating / plagiarizing will receive zero (0) points
for that assignment, test, quiz, etcetera. If the student repeats this offense,he / she will receive an NC for that grading
period. Allowing your work to be copied or plagiarized by another student constitutes cheating and will be dealt with in
the same way. Be carefulof this when you are researching an assignment together with a partner!! You bear the burden
of proof when it comes to plagiarism.
Graphing:
You have heard the old adage,“A picture is worth a thousand words.” Well, in AP Macroeconomics the adage is, “A
graph is worth a zillion words.”
From the first chapter to the last chapter in AP Macroeconomics, the drawing of correctly labeled graphs are a MUST.
Anything less than a correctly labeled graph will be unacceptable. You will be drawing graphs with the following topics:
production-possibilities curve, marginal benefits/marginal costs, supply/demand, money market graph, loanable funds
market graph, aggregate supply/aggregate demand graphs, exchange market graphs, Phillips’ curve graph, and many
more.
Course Outline:
We will be following the course outline described in The College Board’s Acorn Booklet found at the following
site: http://apcentral.collegeboard.com/apc/public/courses/teachers_corner/2121.html
The outline for AP Microeconomics course outline reads as follows:
Percentage Goals of Exam
Content Area (multiple-choice section)
I. Basic Economic Concepts . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (8–14%)

3. A. Scarcity, choice, and opportunity cost
B. Production possibilities curve
C. Comparative advantage, absolute advantage, specialization, and trade
D. Economic systems
E. Property rights and the role of incentives
F. Marginal analysis
II. The Nature and Functions of Product Markets. . . . . . . . . . . . . . . . . . . . . (55–70%)
A. Supply and demand (15–20%)
1. Market equilibrium
2. Determinants of supply and demand
3. Price and quantity controls
4. Elasticity
a. Price, income, and cross-price elasticities of demand
b. Price elasticity of supply
5. Consumer surplus, producer surplus, and market efficiency
6. Tax incidence and deadweight loss
B. Theory of consumer choice (5–10%)
1. Total utility and marginal utility
2. Utility maximization: equalizing marginal utility per dollar
3. Individual and market demand curves
4. Income and substitution effects
C. Production and costs (10–15%)
1. Production functions: short and long run
2. Marginal product and diminishing returns
3. Short-run costs
4. Long-run costs and economies of scale
5. Cost minimizing input combination
D. Firm behavior and market structure (25–35%)
1. Profit:
a. Accounting versus economic profits
b. Normal profit
c. Profit maximization: MR=MC rule
2. Perfect competition
a. Profit maximization
b. Short-run supply and shutdown decision
c. Behavior of firms and markets in the short run and in the long run
d. Efficiency and perfect competition
3. Monopoly
a. Sources of market power
b. Profit maximization
c. Inefficiency of monopoly
d. Price discrimination
e. Natural monopoly
4. Oligopoly
a. Interdependence, collusion, and cartels
b. Game theory and strategic behavior
5. Monopolistic competition
a. Product differentiation and role of advertising

4. b. Profit maximization
c. Short-run and long-run equilibrium
d. Excess capacity and inefficiency
III. Factor Markets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (10–18%)
A. Derived factor demand
B. Marginal revenue product
C. Labor market and firms’ hiring of labor
D. Market distribution of income
(Included in this Factor Market are derived demand for land, labor, and capital, along with the marginal factor cost of
each.)
IV. Market Failure and the Role of Government . . . . . . . . . . . . . . . . . . . . . . . (12–18%)
A. Externalities
1. Marginal social benefit and marginal social cost
2. Positive externalities
3. Negative externalities
4. Remedies
B. Public goods
1. Public versus private goods
2. Provision of public goods
C. Public policy to promote competition
1. Antitrust policy
2. Regulation
D. Income distribution
A. Equity 2. Sources of income inequality
Course Calendar:
Unit 1: Economics and Economic Way of Thinking (3 weeks)
A. Opportunity Cost
B. Scarcity
C. Logic
D. Micro vs. Macro economics
E. Marginal Analysis
F. Law of Diminishing Marginal Returns
G. Production Possibilities Frontier
H. Comparative Advantage and trade
I. Economic Systems Comparison
a. Traditional and barter
b. Command
c. Market
d. Mixed
Unit 2: How Markets Function (5 Weeks)
A. Demand
B. Supply
C. Equilibrium
D. Elasticity
E. Applications of Supply & Demand
Unit 3: Theory of the Firm (5 weeks)
A. Households vs. firms
B. Firm production and behavior
C. Factor markets

5. D. Marginal Analysis
a. Marginal costs
b. Marginal revenue
E. Market Structures
a. Perfect Competition
b. Monopoly
c. Oligopoly
d. Monopolistic Competition
F. Effects of Market Structures
Unit 4: Role of the State ( 3 weeks)
A. Public Choice
B. Government role in Economy
C. Externalities & Market Failures
D. Public Goods
E. Taxation
a. Progressive
b. Regressive
c. Proportional
F. Government Budgeting
G. Game theory in public policy
Unit 5: International Trade (2 weeks)
A. Free Trade
B. Barriers to Trade
Economics Article Review
For each article you must:
1. Properly cite the source of the article using MLA format. Online citation machines make this very
easy. Each article must have the source, date, author, page number.
2. Identify the economic concept from class discussed or at work in the article.
3. Show how this article uses or explains the economic concept in the real world. You may quote the
article but be careful not to just restate the author’s words.
The length of the article is not important, but it needs to be long enough to give you some idea of its content.
Rubric for
Economic
Article Review
4 3 2 1 0
Citation
Proper MLA format,
Author, source, page
number, date
Proper MLA format, 1
element missing
Proper MLA format, 2
elements missing
Improper MLA
Format
Article not
cited
Identification
Key economic concept is
clearly and properly
identified
Key economic concept is
unclearly identified
Key economic concept is
incorrectly identified
Economic
concept not
identified
Explanation
Economic concept is
clearly explained as it
relates to article
Economic concept is
unclearly explained as it
relates to article
Economic concept is poorly
explained as it relates to
article
Economic concept
is not explained as
it relates to article
Grammar &
Spelling
Review w ritten clearly and
free of obvious mistakes
Review carelesslywritten,
severalobvious mistakes