AP Macroeconomics

Mr. Miller

mmiller@acsamman.edu.jo

I’ve been teaching since 2010 and have specialized in AP Macroeconomics and Microeconomics since 2013. Last year, I taught middle school social studies here at ACS, and before that, I taught high school social studies and coached basketball at Seoul International School in South Korea. I earned my B.A. in Political Science with a Business Minor from the University of Oregon in 2008 and my M.Ed. in 2010. I’m committed to helping every student build critical thinking skills in an inclusive classroom.

Feel free to say hi to me in Room 415 and ask any questions you have or to find out more about the subject.

AP Macroeconomics Course and Exam Description <-- Download this

AP Macroeconomics is a college-level course that introduces students to the principles that apply to an economic system as a whole. The course places particular emphasis on the study of national income and price-level determination. It also develops students’ familiarity with economic performance measures, the financial sector, stabilization policies, economic growth, and international economics. Students learn to use graphs, charts, and data to analyze, describe, and explain economic concepts.

There are 4 skills that we will be assessing:

Applying principles and models - Define economic principles and models.
Interpreting data - Explain given economic outcomes.
Manipulating data - Determine outcomes of specific economic situations.
Drawing graphs and visuals - Model economic situations using graphs or visual representations. (There are 12 graphs required as of Fall 2022)

We will explore Microeconomics in 6 units:

Basic Economic Concepts
Economic Indicators and the Business Cycle
National Income and Price Determination
Financial Sector
Long-Run Consequences of Stabilization Policies
Open Economy—International Trade and Finance

Supplies to bring to class:

Laptop (with charging cord)
OpenStax Principles of Macroeconomics 3e
Scrap paper (you may want graph paper or blank paper instead of lined)
(optional) A 4 Function calculator.
- Laptops, phones, scientific calculators, or graphing calculators are not allowed for calculation.

Recommended Summer Work

It's not required; it's just a suggestion, as students often are not clear on what an economics class will be about.

To better prepare you for the study of Macroeconomics specifically

Over the summer, take the time to read The End of Alchemy: Money, Banking and the Future of the Global Economy by Mervyn King.

Ebooks are found easily online. Here a link to a preview.

Vocabulary

Keep a running list of interesting and challenging words.

Questions for Discussion

What surprised you most about the way banks create money and credit? Consider how taking deposits and making loans can fuel growth, and why that same process might also lead to instability.
King compares banks’ practices to “alchemy.” In your own words, what does this metaphor mean, and why might turning something “ordinary” (deposits) into something “extraordinary” (new loans) be risky?
Imagine you’re advising a government after a financial crisis. Which of King’s proposed reforms—more substantial capital buffers, bonds that convert to equity, or more explicit public rules—would you prioritize, and what outcome would you hope to achieve?
Transparency and trust are central themes in the book. Why do you think people need to understand how the financial system works to feel confident? Give an example of something you learned that you’d want explained to the public.
As you prepare for AP Macroeconomics, what three ideas or questions from King’s book do you think will help you succeed in class, and why? Identify specific concepts (ike how banks create money, the role of central banks, or the importance of financial stability) and explain how understanding them now will give you a head start on the course material.

We may read excerpts of the book during the first week to have a discussion.

Another book that will help prepare you for the study of economics in general is Naked Economics by Charles J. Wheelan.

Ebooks are found easily online. Here a link to a preview.

Vocabulary

Keep a running list of interesting and challenging words.

Questions for Discussion

Which “invisible hand” example in the book did you find most compelling, and how does it illustrate the idea that individual choices can lead to unexpected collective outcomes? Think about how market forces work without central direction and why that matters for understanding supply and demand.
Wheelan explains complex topics—like externalities, incentives, and tradeoffs—using everyday stories. Pick one real-world story from the book and summarize how it helps clarify a core economic principle you expect to learn in class.
The author discusses the role of government intervention. Reflect on one policy (taxes, regulation, or welfare programs) Wheelan analyzes: what’s the trade-off he highlights, and why might that be important when we study fiscal policy?
Financial markets and globalization are recurring themes. What did you learn about how global trade or financial innovations affect individual consumers? How might that knowledge prepare you for topics on international economics and money markets?
As you gear up for AP Macroeconomics, which three major takeaways from Naked Economics will give you a head start, and how will they help you grasp macro concepts?

We may read excerpts of the book during the first week to have a discussion.

Here is a link to the first unit on Kahn Academy if you'd like to get a head start on content. Look forward to seeing you in August.

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