Economics – Agenda

AP Economics – Micro & Macro
Summer Institute 2023
Nora Seager

Goals and Objectives

• To prepare teachers for teaching AP Economics through an intensive review of curriculum content, textbook evaluations and time management.
• To familiarize participants with “degree of difficulty” assignments necessary for students to do well on the AP examination as well as active learning exercises intended to inspire student participation.
• To help guide participants in teaching applications of economic concepts to the “real world”
• To share with participants how the examination is graded and how to prepare students for success of the examination itself.
• To model for participant’s lessons of challenging economic concepts, including graphing of market models, externalities, Aggregate Demand and Supply, Monetary policy, loanable funds market, MRP and multipliers, consumer surplus, producer surplus, incidence of tax and the various market structure graphs.
• Due to the combined nature of the workshop, each participant should expect to spend time on both subjects and as a team covering the first three units from both subjects will fill up our 30 hours.
• To clearly identify for teachers the need to know concepts and models, as well as provide guidelines for those concepts which will enrich the AP classroom.

Overview: Throughout our short time together, my goal is for each participant to come away better prepared to teach AP Economics. In the combined Micro/Macro class, we will measure participant needs and adapt to the group

-We will do an intensive review of the new Course and Exam Description binder for both Micro and Macro, published by the College Board.
-We will examine the new digital activation process, discuss the audit expectations and introduce the on-line resources.
-We will examine the AP Classroom and AP Daily content. Please make sure your administrator has processed your accessibility to use the AP Classroom site.
– Lessons on more difficult concepts will be modeled.
-Participants will study the design of the currently available part two questions and learn the use of rubrics in the grading process.
-Various texts and ancillary materials will be available for evaluation.
-Each participant will be responsible for creating a lesson, or problem set.
-Each participant should expect to create their own semester pacing guide of either Microeconomics or Macroeconomics to start the new school year.
-Finally, we will establish a network of support for teachers seeking help in any content area.

New teachers should read the first chapter of the text they are using, or of any principles of economics text. Experienced teachers should bring a lesson to share with the class. Please consider a lesson you created or your PLC created to manage remote or distance learning.

Daily Agenda (Subject to change with CB updates)

DAY 1 – Key Takeaway: Understanding the Course and Materials
1. Understanding the Course
1.A AP courses focus on building conceptual understandings through the teaching of linked learning objectives and essential knowledge statements, all contextualized around course-specific Big Ideas.
1.B Building understanding and teaching for transfer require the application of content in new authentic, relevant, and unfamiliar contexts and scenarios.
1.C The course framework defines the scope of the course and specifies what students must know and be able to do on the AP Exam.
Morning: Introductions/ Experience/ Expectations
The Course Exam and Description Binder (CED):
• The Task verbs of Macro & Micro
• Skills used by Economists
• Course at Glance

Midmorning: Unit 1: Basic Concepts in Micro and Macro
• Scarcity (chairs activity)
• Circular Flow (econoland)
• Production Possibilities (FRQ 2013 #2)
• Comparative Advantage (FRQ 2008 #3)
• Marginal Analysis

Afternoon: Supply and Demand AP style (unit 2 in Micro/ part of Unit 1 in Macro)
• Equilibrium (Current Event Graphing)
Sample FRQs
• Utility
• Consumer/Producer Surplus
• Elasticity
• Tax Incidence

Day 2 – Key Takeaway: Planning the Course
Planning the Course
2.A Sequencing, pacing, and scaffolding are essential for building students’ understanding and their ability to transfer and apply knowledge and skills to new contexts.
2.B Helping students develop mastery of the course skills requires careful planning to sequence skills in a developmentally appropriate way so that students master prerequisite skills before being asked to complete more complex tasks.
2.C The needs of all willing and academically-prepared students should be considered when planning, sequencing, pacing, and scaffolding the course.

Morning: Textbooks, College Board Resources and Ancillary Materials
Applying Course skills
Examining course skills in multiple choice questions
Deep Dive into the Course at a Glance and Topics
Small Groups examine EK, LO, EU

Midmorning: Macroeconomics Unit 2
• Macro in a nutshell
• Measuring the Macro economy
College Board resources on Indices, GDP, Unemployment
FRED and Federal Reserve Bank support
Using the Course at a Glance to plan

Afternoon: Macroeconomics Unit 3
• Using AD/AS and the Phillips Curve to tell the story of the Economy
• Magic of the Multipliers

Macro Unit 4 – The Financial Sector
• Role of Interest rates
• Money Multiplier – Worksheets to practice
• Limited Reserve System vs. Ample Reserve System
o New CB resources
o New FRB resources

Day 3 – Key Takeaways: Teaching and Assessing the Course
3. Teaching the Course
3.A Teachers need a deep understanding of content and its applications in order to adapt their instructional strategies to address the different needs of students.
3.B Utilizing effective instructional strategies, like debriefing, helps develop the course skills and content knowledge.
3.C Students need multiple opportunities, in different settings or modes, to practice skills in order to develop mastery over time.
3.D Creating community within a classroom through collaborative discourse and shared experiences is essential to building student confidence and fostering student progress.
4. Assessing Student Progress and Understanding
4.A Assessments, instruction, and resources should be aligned to learning goals and matched to performance standards.
4.B Students should be progressively challenged, just beyond where they are, to apply their knowledge and skills in different contexts to deepen their understanding.
4.C Learning requires time, practice, and regular feedback.
4.D Understanding is earned over time.

Morning: Instructional planning guide with textbooks – participants begin to plan their individual pacing guide to use for the new school year. Experienced educators can plan a new lesson
Formative and Summative Assessment
The AP Exam and using rubrics
The Verbs used in FRQs
Afternoon: Units 3 and 4 (micro)
• Production Function
• Costs
• Profit and Market Structure from Perfect Competition to Monopoly
• Game Theory
Game Theory activity and online resource support

Day 4 – Key Takeaway: Becoming a member of the AP community
5. Becoming a Member of the AP Community
5.A The curricular requirements ensure that all AP course instructors teach a college-level course.
5.B Professional networking can provide teachers with opportunities to discuss teaching strategies, share resources, and connect with each other.
5.C At the start of the year, teachers and students will complete a short digital activation process that will allow them immediate access to classroom resources.
Morning: Digital Activation and Fall Registration, the Audit
Midmorning Monetary Policy (Unit 4 Macro)
• Role of Fed
• Reinforce the New Changes to the Unit 4 Macro curriculum

Unit 5 (Macro)
Many portions taught in earlier Units – Phillips Curve, Growth, etc
Afternoon Team time to Use the 2023 Exam Questions to group present
Time to review & Reflect
Tying it all up
The AP reading report – Macro and Micro
Individual/Group Share out – new lessons, etc