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AP Microeconomics
- By Dr.Brandon



Overview:
The AP Microeconomics course provides students with a comprehensive understanding of the principles underlying individual economic behavior and the allocation of resources in markets. Through the study of microeconomic theory, students will analyze concepts such as supply and demand, consumer and producer behavior, market structures, and the role of government in the economy. This course prepares students for the AP Microeconomics exam and introduces them to key concepts applicable to college-level economics courses.
Skills to Learn:
- Understanding of fundamental microeconomic concepts, including scarcity, opportunity cost, and comparative advantage
- Ability to analyze market behavior and outcomes using supply and demand models
- Proficiency in interpreting and constructing graphs to represent economic concepts and relationships
- Critical thinking skills for evaluating economic policies and decision-making processes
Prerequisites:
- Strong foundation in algebra and basic mathematical concepts
- Familiarity with fundamental economic principles, such as scarcity and the basic functions of markets
- Analytical thinking skills and the ability to apply mathematical reasoning to economic problems
- Previous coursework in high school economics or equivalent background knowledge
Curriculum:
1)Introduction to Microeconomics:
- Scarcity, choice, and opportunity cost
- Basic economic models and graphs
- The role of incentives in economic decision-making
2)Supply and Demand Analysis:
- Understanding the determinants of supply and demand
- Equilibrium price and quantity
- Market adjustments to changes in supply and demand
3)Consumer Choice and Utility Maximization:
- Preferences, indifference curves, and budget constraints
- Utility maximization and consumer equilibrium
- Analysis of consumer behavior and demand elasticity
4)Producer Theory and Cost Analysis:
- Production functions and the law of diminishing marginal returns
- Costs of production, including fixed and variable costs
- Profit maximization and producer equilibrium
5)Market Structures:
- Perfect competition and the behavior of firms in competitive markets
- Monopoly, oligopoly, and monopolistic competition
- Analysis of market power, price discrimination, and efficiency
6)Factor Markets and Income Distribution:
- Determinants of demand for factors of production (land, labor, capital)
- Wage determination and labor market equilibrium
- Income inequality and government policies to address it
7)Market Failures and Government Intervention:
- Externalities and public goods
- Market failures and the role of government in correcting them
- Analysis of taxes, subsidies, and other government policies
8)Exam Preparation and Practice:
- Review of key concepts and skills tested on the AP Microeconomics exam
- Practice with multiple-choice and free-response questions
- Test-taking strategies and tips for success on the AP Microeconomics exam
Through a combination of lectures, discussions, case studies, and real-world applications, students will develop a strong foundation in microeconomic theory and its practical applications. This course will equip students with the analytical tools and critical thinking skills necessary to analyze economic phenomena and make informed decisions as consumers, producers, and citizens.
Who: 10,11 and 12th Grades
Duration: 40-60 hours
Fee: $1500