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By the end of this course, you will be able to do the following:*Go over the format and goals of the course. See how to succeed in the course andwhat to expect on the AP exam.*Explore the basics of economics, including goods, services, markets, and afundamental concept of economics: scarcity.*Review basic concepts about graphs, equations, slopes and intercepts and see howto apply these skills as you work with income graphs and formulas.*Examine the major questions each economic society faces and explore the differentways traditional, command, and mixed economies answer these questions.*Examine definitions of costs and benefits and the idea of self-interest. Analyzedecision alternatives by considering the opportunity costs.*See how economists use a Production Possibilities Frontier (PPF) graph to analyze theopportunity costs of a decision.*Look at issues related to specialization and trade. Explore the use absoluteadvantage and comparative advantage to rank producersí ability to produce goods.*Examine the PPF for an entire economy and examine the issues related to tradebetween countries.*Learn how economists, and other scientists, develop theories and test their ideas.*Explore the various ways ideas can be represented as models. Look at four types ofmodels: verbal, numeric, graphic, and algebraic.*Explore the basics of consumer demand, and see how to make a demand curve.*Learn what affects consumer demand and how those effects are shown on a graph.*Examine supply curves, and see how to make a supply curve.*See what affects suppliersí decisions to make and sell a good or service and how toshow the effects graphically.*Identidy supply and demand curves together, and explore the concept of marketequilibrium.*Learn how changes in supply and demand affect market equilibrium, and investigateprice floors and price ceilings.*Learn how to measure consumer sensitivity to price changes.*Examine producer sensitivity to price changes, and consumer sensitivity to incomeand the prices of related goods.*Examine the concepts behind the economic definition of consumer satisfaction.*Examine the main types of business organizations.*Examine the concepts behind the economic definition of costs and profits.*Study graphs of the production of a firm when one or more inputs are fixed in size.*Examine graphs of the cost curves of a firm when one or more inputs are fixed in size.*Examine the short-run cost curves be enveloped by the long-run cost curve.*Explore the characteristics of perfectly competitive markets.*Build on your knowledge of the basics, learn more about perfectly competitivemarkets, including the question of efficiency.*Determine how the profit-maximizing level of output and price the monopolistwill choose, and find out about efficiency in a monopoly market.*Examine the basics of price discrimination, and see which firms are naturalmonopolies.*Examine the monopolistic competition market, and find out about productdifferentiation.*Identify the main characteristics of an oligopoly market, and find out about profitmaximization in an oligopoly.*Examine how to categorize the main types of oligopoly interaction.*Identify the main types of market structures, and explore the role of mergers in marketstructures.*Identify what actions the government takes to limit anti-competitive practices in themarket.*Examine the derived factor demand curve.*Explore the determinants of factor demand and the determinants of the elasticity offactor demand.*Identify the main issues regarding the demand for labor, including labor unions andmonopsonistic labor markets.*Identofy the main issues regarding the non-labor factors of production in the factormarket.*Examine externalities, such as pollution, and public goods, such as national defense.*Determine how income is spread through the U.S. economy, and find out about thedifferent types of taxation.*Discover some tips and hints for preparing for the AP Exam.

Unit 1: What Is Economics? Unit 2: Basic Economic Concepts Unit 3: Demand, Supply, Elasticity, and Consumer Choice Unit 4: Firm Production, Costs, and Revenue Unit 5: Market Structure Unit 6: Factor Markets Unit 7: Efficiency, Equity, and the Government Unit 8: Preparing for the AP Exam

Teachers are expected to answer questions, grade assignments, and provide feedback to students within 24 hours. Almost all questions will be answered within a few hours, but 24 hours should be the maximum response time. Additionally, teachers are required to check email from students once over the weekend. Teachers will also make phone calls or send text messages to students to help facilitate successful completion of the course. Students and parents are expected to respond when teachers contact them with questions or concerns.

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