Credits: 0.5
Term: On Demand, Spring 2018

Economics highly recommended.

Student must be approved by the department head prior to enrollment.

Note: It is the expectation of VTVLC that students take the Advanced Placement Exam (AP® Exam) to receive Advanced Placement credit. Students need to be approved by the department head by completing and returning this AP Course Recommendation Letter Form.

Course Description:

Students must take the Advanced Placement Exam (AP® Exam ) in order to receive Advanced Placement credit. You have been called upon to assist the leader of the Macro Islands who is running for reelection next year. The economy is in shambles, and you need to come up with some feasible solutions. This will not only help the people of the Macro Islands but will also ensure a victory for your employer. You were hired over the Internet and received a first class ticket to the Macro Islands where you can learn first hand about the situation. You arrive at Pineapple Airport in the middle of the day and are met by a man with a briefcase who is holding a sign with your name on it. You approach the man and introduce yourself. “I’m Mr. Scarcity,” he says. “I’ll be your guide as you learn about the economic situation of the islands. You need to learn everything you can about both macroeconomics and our Macro Islands for your presentation to our island leader in May.” (Your AP Exam.)

Topics & Concepts:
  • Overview of Advanced Placement
  • Economic Basics
  • Scarcity and Opportunity Costs
  • Production Possibilities Curves
  • Absolute and Comparative Advantage
  • Demand
  • Supply
  • Equilibrium
  • Government Impact
  • Circular Flow
  • GDP
  • Other Measures of National Income
  • Inflation and Price Indices
  • Business Cycle
  • Unemployment
  • Classical Economics
  • Aggregate Supply
  • Aggregate Demand
  • Propensities and Multipliers
  • Equilibrium
  • Economic Growth
  • The AE Model
  • Understanding the AD/AS Model
  • Comparative Advantage and International Trade
  • Balance of Payments
  • Exchange Rates
  • Graphing Foreign Exchange
  • International Value of Currency
  • Trade Barriers
  • Understanding International Trade and Finance
  • The Money Supply
  • Loanable Funds Market
  • Equation of Exchange
  • Money Creation
  • Fiscal Policy
  • Automatic Stabilizers
  • Debt vs. Deficit Interview
  • Fiscal Policy and Interest Rates
  • The Federal Reserve System
  • Monetary Policy
  • Interest Rates and the Impact on Financial Capital
  • Phillips Curve
  • Modern Theories
  • Understanding Policies
  • Guided Review

Offerings and courses subject to change. Please refer to the VTVLC Student Information System as the most up-to-date resource of current offerings and required materials for courses.