Tag Archive 'AP macroeconomics'

Sep 08 2011

My new IB Economics and AP Macroeconomics textbooks are now available, ready to ship today!

It’s been a long road to this day, September 8, on which what I truly believe is the best IB – specific Economics textbook ships from Pearson’s warehouses in the UK. Pearson Baccalaureate’s Economics ships today, so if you haven’t already, order yourself an evaluation copy from the Pearson website. If you like what you see, consider ordering a set for your classes!

From the Pearson website:

An exciting new textbook with integrated online learning resources. For students and teachers of the International Baccalaureate Diploma, written and developed by practising IB teachers.

  • Specifically written for the new 2011 syllabus
  • Makes clear connections to real world eventsto build conceptual understanding
  • Provides analysis of economic concepts in light of recent global economic data
  • Extra student practice questions for new HL quantitative methods
  • Lively writing to stimulate interest, with clearexplanations to promote understanding
  • Suitable for use with both SL and HL courses
  • Gives clear links to TOK throughout
  • Enables exam-style assessment opportunities
  • Provides guidance on Internal Assessmentand the Extended Essay
  • Fully supported with online resources.

Sample Content Pearson Baccalaureate Economics sample spreads

And if you’re and AP teacher and feeling left out, please don’t, because my other new book, REA’s AP Macroeconomics Crash Course, also ships out this month!

REA’s AP Macroeconomics Crash Course is the first book of its kind for the last-minute studier or any AP student who wants a quick refresher on the course. The Crash Course is based on a careful analysis of the AP Macroeconomics Course Description outline and actual AP test questions released by the College Board.

Written by an AP teacher, our easy-to-read format gives students a crash course in Macroeconomics. This review will prepare you for test day by focusing on important topics frequently seen on the AP Macroeconomics exam.

Unlike other test preps, REA’s AP Macroeconomics Crash Course gives you a review specifically focused on what you really need to study in order to ace the exam. The introduction discusses the keys for success and includes a list of terms all AP Macroeconomics students must know.

The targeted review chapters are grouped by topics, offering you a concise way to learn all the important ideas, facts, and terms before exam day. The author gives you expert test-taking strategies to conquer the multiple-choice and free-response questions on the exam. No matter how or when you prepare for the AP exam, REA’s AP Macroeconomics Crash Course will show you how to study efficiently and strategically, so you can boost your score!

To check your test readiness for the AP Macroeconomics exam, either before or after studying this Crash Course, take our online practice exam. To access your free practice exam, visit www.rea.com/crashcourse and follow the on-screen instructions. This true-to-format test features automatic scoring of the multiple-choice questions and detailed explanations of all answers. Our diagnostic analysis will help you identify your strengths and weaknesses, so you’ll be ready on exam day!

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Apr 21 2009

AP Economics and IB Economics Review Materials Online NOW!

Visit my new site, The Economics Classroom, for review videos, an Economics glossary, worksheets and practice activities and countless other resources to help you prepare for your exams in Introductory, AP or IB Economics. Or go straight to the Economics Exam Review page.

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May 18 2008

2008 Macroeconomics Free Response Questions – first impressions…

Published by under AP Economics

AP Macroeconomics 2008 FRQ form BThree days ago students all over the world sat for the Macro and Microeconomics Advanced Placement exams. 48 hours later, the College Board released the free response questions on their website. Being at an international school SAS students took “Form B” of the exam.

In this post I will reflect on the FRQs from the macroeconomics exam.

First, question 1: An imaginary country operating at full employment experiences a deficit financed increase in government spending.

Part (a) asks students what the impact of the new government spending will be on aggregate demand and aggregate supply. Easy enough! Since “G” is a component of AD, an increase in government spending will shift AD out while short-run aggregate supply remains the same.

Part (b) is simply a graphical representation of the answer to part (a), asking students to show the effect on output and price level. The new government spending will increase output and the price level.

So far, the question has been very straightforward and what I’d consider easy for even weaker students. In part (c), the question asks students to show the impact that the government’s borrowing from the public has on the real interest rate and the market for loanable funds. Here I am guessing the AP readers will accept either a leftward shift of supply or a rightward shift of demand. The question does not ask students to explain the shift, only “show”. Either demand or supply can shift when the government increases its deficit through issuing new bonds, as I explained HERE.

Finally, parts (d) and (e) broaden the scope of this question to international economics, a section of the syllabus that was not traditionally included in the long free response questions, but has been for two years now, and I expect it will continue to be a theme of the FRQs in the future.

Part (d) asks what effect higher real interest rates will have on supply of the country’s currency on foreign exchange markets and the value of the currency. My answer would be that as real interest rates rise households will save more, spend less on imports, thus supply less of their currency, causing it to appreciate on foreign exchange markets. This question may have stumped some kids. I typically teach that higher real interest rates will increase demand for a country’s currency, as foreigners direct their financial capital into the country’s financial markets in pursuit of higher real returns on their investments.

Finally, part (e) is simple enough, asking the impact of the now appreciated currency on net exports. As the country’s goods become more expensive to foreigners, net exports will decline, possibly offsetting the initial increase in government spending.

Overall I’d say that FRQ number 1 was FAR easier than last year’s FRQ on which students had to illustrate the impact of rising exports from New Zealand on the country’s money market and its real interest rates, also involving an explanation of how Australia’s economy might recover from a recession without any government action, requiring an understanding of the neo-classical theory of flexible wages, vertical aggregate supply, and self-correction… overall a MUCH tougher question than this year’s!

Stay tuned for my impression of numbers 2 and 3 of the 2008 form B FRQs!

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