He neither intends to promote the public interest, nor knows how much he is promoting it…he intends only his own gain, and he is in this, as in many other cases, led by an invisible hand to promote an end which was no part of his intention. -Adam Smith

AP Microeconomics Mr. Dessart DePere High School Voicemail Extension #4501 [email protected]

Course Description: The purpose of an AP course in microeconomics is to give students a thorough understanding of the principles of economics that apply to the functions of individual decision makers, both consumers and producers, within the economic system and prepare the students for the AP Microeconomics exam. The course places primary emphasis on the nature and functions of product markets, and includes the study of factor markets and of the role of government in promoting greater efficiency and equity in the economy. The course is divided into 4 parts: 1. Basic Economic Concepts 2. The Nature and Function of Product Markets 3. Factor Markets 4. Market Failure and the Role of Governments

Expectations: To accomplish these goals the course is set up to replicate a college level of study. I expect that your choice to enroll in this course signifies your desire to challenge yourself, and I commend you for that. I will expect you to:  Be here, be on time and be engaged.  Bring your Textbook: Krugman’s Economics for AP, a notebook and something to write with.  Read the assigned material before it is studied in class and be ready to ask questions. There is no substitute for reading.  Work through the daily practice problems.

The AP Exam: You are not required to take the AP exam. From my point of view, I strongly encourage you to do so because: 1. The exam allows you to see how you measure up nationally against your peers. 2. There is a good chance that your future college will give you Microeconomics course credit, which can get you early registration and possibly free up your course load for more electives. Grading Scale: A= 100-90% B= 80-89% C= 70-79% D= 60-69% The top and bottom percentage of each letter grade will receive a plus or a minus.

Grading Policy:  Tests, Projects, Projects Quizzes 80%, Homework and Daily work 20%  You can retake any test. You must complete a review packet to be able to retake a test. Homework can be corrected and turned in for full points, quizzes can be corrected and turned in for an additional 10% on that quiz.  Semester grade: 1st Quarter 42.5% 2nd Quarter 42.5% Semester Exam 15%

Units of Study: Unit 1: Basic Economic Concepts Unit 2: Supply and Demand Unit 9: Behind the Demand Curve: Theory of Consumer Choice Unit 10: Behind the Supply Curve: Profit, Production and Costs Unit 11: Market Structures: Perfect Competition and Monopoly Unit 12: Market Structures: Imperfect Competition Unit 13: Factor Markets Unit 14: Market Failure and the Role of Government

Other Assignments During the Semester : There will also be an assigned reading from Naked Economics: Undressing the Dismal Science by Charles Wheelan that will cross over many topics that will be discussed during the semester.

In covering our financial literacy goals, a 10 week stock market simulation will be played during the semester. We will cover the key market concepts in class, but most of the time devoted to managing your portfolio will be on your own.

Meetings: If you need help, make sure to make time to meet with me before or after school or during a commons when I have a prep or duty. I encourage students and parents to see me about any concerns that they may have. My website is an effective way of getting material, there is a link off the school webpage. E-mail is also a great way to ask a quick question or schedule a meeting time.

Updated Fall 11/12