This is the last classwork week for seniors

You will need to prepare yourself and your computer for the AP Exam

I have posted review video links on Google Classroom and as new materials become available I will also post them

Due this week

Unit 5 Study Guide on Google Classroom – Wednesday

You can pick any other Study Guide Micro or Macro to Complete by Friday

• Go to iLearn
• Scroll down to the bottom and find the Ultimate Review Folders
• Select a STUDY GUIDE from either of the folders to complete
• Submit to Google Classroom by Friday

Meetings will return to Big Blue Button – i have been told it’s fixed

2nd Period AP Econ – 12:00 – 12:30 pm Tues & Thursday

Work for Wednesday and Friday is below:

II.  Objectives

• Explain the difference between short-run and long-run macroeconomic equilibrium
• Describe the causes and effects of demand shocks and supply shocks
• Determine if an economy is experiencing a recessionary or an inflationary gap and explain how to calculate the size of an output gap

III.  Discuss Video Assignment on iLearn

IV.   Equilibrium in the Aggregate Demand/Supply Model pgs 192-199

V. Notebook

  A.  Bridge Map  P194

• Impact of Negative Demand Shocks
• Impact of Positive Demand Shocks

B.  Bridge Map  P195

• Impact of Negative Supply Shocks
• Impact of Positive Supply Shocks

C.   Discuss stagflation

D.  Copy and Label Figure 19.4 p 196

E.  Short Run to Long Run

• Impact of Recessionary Gap
• Impact of Inflationary Gap

Macro 3.3- Long Run Aggregate Supply, Recession, and Inflation (LRAS)

VI.  Classwork DUE WEDNESDAY

• 19.1 WS on iLearn
• Aggregate Demand and Supply Practice
• 19.2 WS on iLearn

II.  Objectives

• Discuss how the AS–AD model is used to formulate macroeconomic policy
• Explain the rationale for stabilization policy
• Describe the importance of fiscal policy as a tool for managing economic fluctuations
• Identify the policies that constitute expansionary fiscal policy and those that constitute contractionary fiscal policy

III. Economic Policy Aggregate Demand & Supply Model pgs 201-208

A Macroeconomic Policy

1. Policy in the Face of Demand Shocks – Examples
2. Responding to Supply Shocks – Difficult and only resolves one on the issues

B.  Fiscal Policy: The Basics

1. Taxes, Purchases of Goods and Services, Government Transfers, and Borrowing

• Explain in terms of Expansionary & Contractionary Policy

2. The Government Budget and Total Spending
3. Expansionary and Contractionary Fiscal Policy
4. A Cautionary Note: Lags in Fiscal Policy

• Major Lags -Recognition, Decision, & Implementation

iV,  Read Exam Tip on Page 207

V.  Classwork

• 20.5 WS on iLearn – Due Friday

I. AP Testing Information

Some of you need to check your email from AP and complete the survey they sent you weeks ago

A. Review other important information below:

II.  Objectives:

• Use the aggregate supply curve to illustrate the relationship between the aggregate price level and the quantity of aggregate output supplied in the economy
• Identify the factors can shift the aggregate supply curve
• Explain why the aggregate supply curve is different in the short run from in the long run

III.  Discuss: Video Assignment Updated on i Learn

IV.  Aggregate Demand:  Introduction & Determinants pages 180-191

A,  Aggregate Supply – Clifford

B.  Short-run Aggregate Supply

• Wages and Resource Prices WILL NOT increase as price levels increase.

C,  Noteboook:  Factors that shift Short-Run Aggregate Supply and Graphs (Page 185)

D,  Long-run Aggregate Supply

• Wages and Resource Prices WILL increase as price levels increase.

V.  Classwork – Submit to Google Classroom

• Page 178-179 Tackle the Test 1-5 & p. 171 #2 – Due Wednesday
• 3.2 Aggregate supply Practice on iLearn – Due Wednesday
• 18.1 & 18.3  on iLearn – Due on Friday

I. Objectives:

• Use the aggregate demand curve to illustrate the relationship between the aggregate price level and the quantity of aggregate output demanded in the economy
• Explain how the wealth effect and interest rate effect give the aggregate demand curve a negative slope
• Identify the factors that can shift the aggregate demand curve

II.  Notebook Work

A.  Consumption function Graph P.164-165

B.  Page 175 Aggregate Demand Graph

C.  P. 174 Why Is Aggregate Demand Downward Sloping? 

D.  P. 176 Factors that Shift Aggregate Demand 

III. Discussion Videos:

• Macro 3.1- Aggregate Demand Practice
• AN INTRODUCTION TO AGGREGATE DEMAND

IV.  Classwork

• Macro 3.1 Practice iLearn
• 17.1 & 17.2 on iLearn

IMPORTANT LINKS

https://www.youtube.com/user/ACDCLeadership

Macro Unit 3 Practice- AD/AS and Multipliers

DUE WEDNESDAY

I.  Objectives:

• Describe the multiplier process by which initial changes in spending lead to further changes in spending
• Use the consumption function to show how current disposable income affects consumer spending
• Explain how expected future income and aggregate wealth affect consumer spending
• Identify the determinants of investment spending
• Explain why investment spending is considered a leading indicator of the future state of the economy

II.  Income & Expenditure  pages 159-169

A.  The Multiplier

1. Marginal Propensity to Consume  MPC = (Δ Consumer Spending/Δ Yd)
2. Spending Multiplier   1/(1-MPC)
3. Consumer Spending   Yd = C + S  &  MPC + MPS = 1
4. Current Disposable Income and Consumer Spending  
5. Macro 3.9- Multiplier Effect, MPC, and MPS (AP Macroeconomics)
6. The Multiplier Effect- Macro 3.9B

B.Shifts of the Aggregate Consumption Function C= a + MPC × Yd

1. Changes in Expected Future Disposable Income
2. Changes in Aggregate Wealth

C. Investment Spending

MODULE 16 NOTE PART 2: CONSUMPTION FUNCTION & INVESTMENT SPENDING

1. The Interest Rate and Investment Spending
2. Expected Future Real GDP, Production Capacity, and Investment Spending

D. Inventories & Unplanned Investment Spending pg 169 – Thinking Map (Positive and Negative Planned Inventory)

III.  Classwork

• Homework 16.1 & 16.2 WS on iLearn
• Module 16 iLearn Part A Questions