Email: phopkins@sas.edu.sg
There is a link to each day's lesson on this page. The calendar contains information about homework, assignments that are due, and class resources (videos, slideshows, and related readings and podcasts). It also has information about what we'll be doing each day, including the problem of the day. Click here to look at the syllabus and get information about extra-help.
FORMATIVE AND SUMMATIVE ASSESSMENTS
August 10/11: Introduction to AP Economics and the Circular Flow Model.
Expectations: First, we will discuss the course and our expectations.
Simulation: We will do a class simulation to highlight some important concepts related to the study of economics.
August 15/16: Economic Systems and the Production Possibilities Model
August 17/18: Comparative Advantage
August 19/22: Summative Quiz
August 23/24: Unit 1 Test
EXTENSION/ENRICHMENT: Do we really behave rationally? (click to see the instructions for this assignment)
Related but not required: Vernon Smith on Adam Smith's Theory of Moral Sentiments
FORMATIVE AND SUMMATIVE ASSESSMENTS
August 25/26: Demand
August 29/30: Utility Maximization and Consumer Choice
August 31/September 1: Supply
September 2/5: Equilibrium and Elasticities
September 6/7: Role of Government and Market Efficiency (Price Controls, Taxes and Subsidies)
September 8/9: Summative Quiz
September 14/15(Exchange): Open Day
September 16/19: Unit 2 Test
EXTENSION/ENRICHMENT: Are we actually in control of our own choices?
Related but not required
September 20/21: Costs of Production (Short-run)
September 22/23: Perfect Competition in the Short-run
September 26/27: Long-run Costs and Perfect Competition in the Long-run
September 28/29: Summative Quiz
September 30/October 3: Unit 3 Test
EXTENSION/ENRICHMENT: Is pure competition really the ideal market structure?
FORMATIVE AND SUMMATIVE ASSESSMENTS
FORMATIVE AND SUMMATIVE ASSESSMENTS
October 4/5: Pure Monopoly
October 6/7 (Class before fall break): Price Discrimination and Regulating Monopoly
October 17/18: Monopolistic Competition
October 20/21 (IASAS): Collusive Oligopoly and the Prisoners Dilemma
October 24/25: Non-collusive Oligopoly and Kinked Demand Theory
October 26/27: Summative Quiz
October 28/November 2: Open Day
November 3/4: Unit 4 Test
EXTENSION/ENRICHMENT: How harmful is monopoly power?
FORMATIVE AND SUMMATIVE ASSESSMENTS
November 7/8: Supply and Demand for Resources and Allocating Multiple Inputs
November 9/10: Perfectly Competitive Labor Markets
November 11/14: Monopsony and Unions
November 15/16: Summative Quiz
November 17/18: Unit 5 Test
EXTENSION/ENRICHMENT: Is Amazon a book monopsony and is its market power a bad thing?
FORMATIVE AND SUMMATIVE ASSESSMENTS
November 21/22(Class before Thanksgiving): Negative and Positive Externalities
November 23(Class before Thanksgiving)/28: Public Goods and Common Resources
November 29/30: Distribution of Income and Taxes and Asymmetric Information
December 1/2: Summative Quiz
December 5/6: Unit 6 Test
December 7: Exam Review
December 8: Exam Review (B1 and B2 students taking exam early must take exam during class on this day)
December 9: Exam Review (A2 students taking exam early must take exam during class on this day)
EXTENSION/ENRICHMENT: Is economic inequality a market failure and is it a bad thing?
Capital in the 21st Century (optional): Listen to these podcasts to learn more about the debate over inequality.
Thomas Piketty on inequality and Capital in the 21st Century
Semester Exam
December 12: A1 and A2 semester exams
December 13: B1 and B2 semester exams
December 14: A3 and A4 semester exams
December 15: B3 and B4 semester exams
HAPPY HOLIDAYS!!!
FORMATIVE AND SUMMATIVE ASSESSMENTS
January 9/10: Return first semester exams and introduce macro (Review circular flow model). This summary of 20th Century macroeconomic theory is good background for everything we do this semester. It was written by Paul Krugman, a Nobel Laureate. Give it a read if you have time.
January 11/12: Business Cycles and GDP
January 13/16: Unemployment
January 17/18: Inflation (including costs of inflation)
January 19/23: Summative Quiz (Extra practice docs: Calculating GDP, Unemployment, and Inflation)
January 24/25 (Class before CNY): Unit 7 Test
January 26 (Class before CNY)/February 1 (Class after CNY): Open Day
EXTENSION/ENRICHMENT: Is GDP a good measure of economic well being?
Read the linked article and watch the linked video on the "ghost cities" in China
Listen to this podcast (Freakonomics Podcast on the Shadow Economy).
Official measures of GDP do not capture much of the activity that goes on in the economy. Much of what is missed takes place in black (illegal) markets or is just never reported to the government. This Freakonomics podcast discusses these activities.
FORMATIVE AND SUMMATIVE ASSESSMENTS
February 2/3: Aggregate Demand
February 6/7: Aggregate Supply
February 8/9 (Class before Interim): Equilibrium in the Short-run and Long-run (Keynesian and Classical economics)
February 20/21 (First class after Interim): The Phillips Curve
February 22/23: Keynesian Fiscal Policy and the Multiplier (Recessionary and Inflationary Gaps)
February 24/27: Supply-side Economics and Crowding Out
February 28/March 1 (Wednesday before IASAS Cultural): Summative Quiz
March 2/3 (IASAS Cultural Convention): Open Day
March 6/7: Unit 8 Test
EXTENSION/ENRICHMENT: Is United States government debt a serious problem?
Watch this Ted Talk by Adam Davidson.
And read this article by Jude Wanniski: Taxes and a Two Santa Claus Theory
You may read this critique of Wanniski as well, if you are interested.
FORMATIVE AND SUMMATIVE ASSESSMENTS
March 8/9 (day before exchanges)/14: Introduction to Money and Money Creation
March 10/13: Interest Rate Determination (The Money Market and the Market for Loanable Funds)
March 14/15: Monetary Policy Tools and Keynesian Monetary Policy
March 16/17 (Day before Spring Break): Monetarism and the Natural Rate School
March 27/28 (Day after Spring Break): Open Day
March 29/30: Summative Quiz
March 31/April 3: Unit 9 Test
EXTENSION/ENRICHMENT: Was the United States government right to bail out the banks in 2008?
April 4/5 (Wednesday before IASAS): Free trade vs. Protectionism
April 6/7 (IASAS): Balance of Payments
April 10/11: Foreign Exchange Market
April 12/13: Links between international trade and macroeconomy
April 17/18: Summative Quiz
April 19/20: Open Day
April 21/24: Unit 10 Test
EXTENSION/ENRICHMENT: Is Walmart good for America?
Required: Watch sections 1, 3, and 5 of this program. (Feel free to watch sections 2 and 4 if you like, too.)
Optional: This podcast looks at the same problem, the relationship between international trade (particularly trade deficits) and unemployment, through a more technical lens.
April 25/26: Open Day
April 27/28: Macro mock exam in class
May 2/3: Review
May 4/5: Review
May 8/9: Review
May 10: AP Macro Exam at 12 PM
May 12: AP Micro Exam at 8 AM
May 15/16:
May 17/18:
May 19/22:
May 23/24 (Exam Review Day):
May 25: Exam Review Day
FORMATIVE AND SUMMATIVE ASSESSMENTS