Advanced Placement Microeconomics - 23462 Words

Advanced Placement Microeconomics Instructor, Mrs. Peggy Pride Study Notes to accompany Economics Principles, Problems and Policies, 15th Ed. Campbell McConnell Stanley Brue AP MICROECONOMICS SEMESTER PLAN Instructor, Mrs. Peggy Pride TEXT: Economics, Principles, Problems and Policies, 15th Edition, McConnell and Brue Video: Econ U$A series with discussion Class Activities: APIP workbook activities, reinforcement and writing activities and other teacher-developed materials This semester-long course gives students a thorough understanding of the principles of economics that apply to the function of individual decision-makers, both consumers and producers, within larger economic systems. It places primary emphasis on the nature and†¦show more content†¦Ã¢Ë†Å¡ Principles are expressed as the tendencies of typical or average consumers, workers, or business firms √ Generalizations †¢ â€Å"Other things equal† assumption—controlling all variables except one †¢ Abstractions—do not mirror the complexity of real world †¢ Graphic Expressions—models used to show theory Policy Economics √ Applied Economics that recognizes the principles and data which can be used t o formulate policies. √ Determining a course of action to resolve a problem or to further a nation’s economic goals 1 Steps in Policy Economics State the goal Determine the policy options A clear, specific statement List specific policies to achieve goal with an assessment of possible effects Implement and Evaluate the policy which was selected Monitor steps in implementing the policy initiatives taken Principles Are Derived At Two Levels: Macroeconomics: economy as a whole and its basic subdivisions such as government, business and households. Macro looks at totals or aggregates to examine the â€Å"big picture†. Microeconomics: looks at specific units or segments of the economy, a particular firm or household. Micro looks at the â€Å"trees not the forest†. ECONOMIC GOALS †¢ POSITIVE economics collects and presents facts. It avoids value judgments—†just the facts, madam†! Positive economics concerns WHAT IS—what the economy is really like. †¢Show MoreRelatedTravel and Tourism Administration Program Structure20692 Words   |  83 Pages18hrs 18cr SEMESTER TWO Compulsory subjects: 9 COM 111 – Computer Reservation Systems 3 3 10 TOU 106 – Fares Ticketing II 3 3 11 TOU 108 – General Travel Knowledge II 3 3 12 ENG 122 – The Technique of Writing and Advanced Language Studies 3 3 13 BUS 102- Introduction to Business Electives: One of the following three 3 3 14 HUM 202 – Business Psychology 3 3 15 FRE 122 – French (Beginners) 16 GER 122 – German (Beginners) TOTAL 18hrs 18cr Read MoreBp Pestle Analysis3155 Words   |  13 Pages11. Appendix 2 12. Appendix 3 13. Harvard Reference Abstract: BP is a British global energy company and is the 4th largest company in the world. This report is in relation to BP’s profitability, product development, market power and placement. The report uses PESTLE analysis to investigate these areas providing an insight to the successes and failures of BP during recent years. It covers the failures of Russia which has been a failure in terms of past successes with western governmentsRead MorePrinciples of Microeconomics Fifth Canadian Edition20085 Words   |  81 PagesLicensed to: iChapters User PRINCIPLES OF MICROECONOMICS: A G U I D E D T O U R PART ONE: INTRODUCTION Chapter 1 Chapter 2 Chapter 3 Ten Principles of Economics Thinking Like an Economist Interdependence and the Gains from Trade The study of economics is guided by a few big ideas. Economists view the world as both scientists and policymakers. 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Definition of Risk (Adapted from the literature mentioned in Table 1) Let us start with the traditional „Risk can be defined as the combination of the Oxford Advanced Learner‟s probability of an event and its Dictionary â€Å"The possibility of consequences†¦there is the potential for events something bad happening at and consequences that constitute opportunities some time in the future; a for benefit (upside) or threats