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Sanford H. Calhoun High School

HW for AP Macro

Wednesday May 14th, 2020 12:00 pm

All of the reading assignments are to be read for the day in class for which they are assigned.  The teacher may assign other readings and questions from the text.

Unit V: Inflation, Unemployment, and Stabilization Policies

1/13 - 296 – 299
1/14 - 300 – 305
1/15 - Readings as assigned
1/16 - Readings as assigned and Pg. 363 1 and 2
1/17 - MLK Day of Service

1/21 – 1/24 Midterms

1/27 - 307 – 313
1/28 - No HW
1/29 - No HW
1/30 - Quiz on Modules 30 and 31
1/31 - 315 – 319
2/3 - AP Long FRQ in class
2/4 - 321 – Top of 325
2/5 - 325 – 329
2/6 - Pg. 363 8 and 9
2/7 - No HW
2/10 - 331 – 335 Mid
2/11 - 335 – 341
2/12 - No HW
2/13 - Prep for Phillips Curve Activity
2/14 - Quiz on Modules 32 – 34

2/17 – 2/21 February Break

2/24 - 343 – Top 347
2/25 - 347 – 353
2/26 - FRQ in Class and Pg. 365 13, 15, 16
2/27 - No HW
2/28 - No HW
3/2 - 355 – 359
3/3 - Review Sheet for Unit V Exam
3/4 - Exam on Unit V: Inflation, Unemployment, and Stabilization Policies

Inflation, Unemployment, and Stabilization Policies

Government Budget Balance
Expansionary Fiscal Policies
Budget Surplus
Budget Deficit
Cyclically Adjusted Budget Balance
Government Borrowing in the Financial Markets to pay for Budget Deficits
Public Debt
Recessionary Gap
Expansionary Gap
Fiscal Policy
“Crowding Out”
Role of the Federal Reserve
Effects of an Open Market Sale of Bonds
Effects of an Open Market Purchase of Bonds
Effects of an Increase in the Money Supply
Effects of a Decrease in the Money Supply
Money Neutrality
Seignorage
Inflation Tax
Positive Output Gap
Negative Output Gap
Impact of Inflation on Money Holdings
Short Run Phillips Curve
Stagflation
Long Run Phillips Curve
Disinflation, and costs of
Deflation
Liquidity Trap
Classical Model of Economics: Assumptions and Beliefs
Keynesian Model of Economics: Assumptions and Beliefs
Monetarist Model of Economics: Assumptions and Beliefs
“Animal Spirits” of Keynes
Modern Consensus of Macroeconomists

Unit VI: Economic Growth and Productivity
3/9 Module 37: 368 – 373
3/10 Module 38: 376 – 385
3/11 Module 39: 387 – 395
3/12 Quiz on 37 - 39
3/13 Long and Short FRQ Quiz
3/16 Module 40: 398 – 402
3/17 Quiz: Two Short FRQ’s
3/18 Review
3/19 Exam

Unit VI: Economic Growth and Productivity Review


GDP per Capita
Real GDP per Capita
The Rule of 70
Long Run Economic Growth
Productivity
Diminishing Returns to Physical Capital
Increase in Savings and the impact on Long Run Growth
Human Capital
Physical Capital
Technological Progress
Aggregate Production Function
Growth Accounting
Shifts of the Production Function
Importance of Banks to Long Run Growth
Infrastructure
Role of Incentives in Long Run Growth
Higher Growth Rates and Property Rights, Infrastructure, and Natural Resources
Sustainable Development Hypothesis
Convergence Hypothesis
Negative and Positive Externalities

Unit VII- Open Economy: International Trade and Finance
3/20 Module 41: 410 – 419
3/23 453 # 1 and 3
3/24 Activity 49
3/25 Module 42: 421 – 429
3/26 Module 43: 431 – 434
3/27 454 #8
3/30 Module 44: 437 – 441
3/31 454 #10 / Long FRQ in Class
4/1 Module 45: 443 – 450
4/2 Long FRQ in Class
4/3 2 Short FRQ’s in Class
4/6 Review
4/7 Exam on Unit VII

Open and International Economies

Trade Deficit
Trade Surplus
Trade Balance
Open-Economy Macroeconomics
Value of Currency Relative to Other Countries
Balance of Payments Account
Current Account
Financial Account
Current Account Deficit
Positive Balance of Payments
Demand for Dollars
How do we Balance the Current and Financial Accounts?
How do Interest Rates in Different Countries Impact the Balance of Payments?
Direct Foreign Investment
International Capital Flows
Foreign Exchange Market
Exchange Rate
Depreciation
Appreciation
What Happens to Imports/Exports with Currency Appreciation?
What Happens to Imports/Exports with Currency Depreciation?
Impact of Interest Rates on Trade
Impact of Tariffs on Trade
Nominal vs. Real Exchange rates
Purchasing Power Parity
Fixed Exchange Rate Regime
Floating Exchange Rate Regime


AP Review:

4/8 Review Course and Major Topics
4/20 Diagnostic Exam
4/21 Diagnostic Exam
4/22 Unit I
4/23 Unit II
4/24 Unit II
4/27 Unit III
4/28 Unit IV
4/29 Unit IV
4/30 Practice MC
5/1 Unit V
5/4 Unit V
5/5 Practice FRQ (1 Long and 2 Short)
5/6 Unit VI
5/7 Practice Multiple Choice Section
5/8 Unit VII
5/11 Practice MC
5/12 Practice FRQ
5/13 Wrap up Review
5/14 AP Macro Exam (Afternoon Session)