www.ctm-academy.cz
datum: 10.05.2024

Course code:

FLVS_APMICRO

Course name:

AP Microeconomics Online

Course length:

2 semester

Grade:

9 - 13

Partner:

FLVS - Florida Virtual School Global

Description

AP Microeconomics is an introduction to the study of the consumers and producers that make up the economy: households, firms, governments, and community organizations. AP Microeconomics is a college-level course that introduces students to the principles of economics that apply to the functions of individual economic decision-makers. The course also develops students’ familiarity with the operation of product and factor markets, distributions of income, market failure, and the role of government in promoting greater efficiency and equity in the economy. Students learn to use graphs, charts, and data to analyze, describe, and explain economic concepts.

Explore the power of marginal thinking and apply it to common decisions that individuals and business firms encounter each day. Examine, interpret, analyze, and model key microeconomics concepts and processes, from the shifting supply and demand for familiar products to the model of the labor market and how wages are determined.

AP Microeconomics is equivalent to a one-semester introductory college course in economics.

The course provides particular emphasis on the function of consumers and producers within the economic system. The course also offers analysis of the markets in which consumers and producers interact as well as non-market economics. This course, which prepares students to take the AP Microeconomics exam, draws on software provided by Thinkwell. It has been reviewed and approved by the College Board to use the "AP" designation.

Study materials (e-books, Discovery Education, etc. ...) for FLVS Global courses are INCLUDED in the price of the course.

 

Course Structure

 

Module 01 - Basic Economic Skills and Concepts

  • Scarcity
  • Resource allocation
  • Economic systems
  • Production Possibilities Curve (Frontier)
  • Reading and constructing basic economics graphs
  • Comparative advantage and trade
  • Cost-benefit analysis
  • Marginal analysis and impact on consumer choice

Module 02 - Supply and Demand

  • The law of demand and determinants of demand
  • The law of supply and determinants of supply
  • Price elasticity of demand
  • Price elasticity of supply
  • Cross-price and income elasticity
  • Market equilibrium
  • Constructing and interpreting market graphs
  • Economic surplus
  • Market disequilibrium
  • International trade and public policy

Module 03 - Production, Cost, and the Perfect Competition Model

  • The production function
  • Short-run production costs
  • Long-run production costs
  • Types of profit
  • Profit maximization of the firm
  • A firm’s short-run production decisions
  • A firm’s long-run decisions to enter or exit a market
  • The perfectly competitive market model
  • Allocative and productive efficiency

Module 04 - Imperfect Competition

  • Distinguishing imperfect from perfect competition
  • Characteristics of imperfectly competitive markets
  • The monopoly model
  • Basics of the natural monopoly model
  • Price discrimination in a monopoly
  • The monopolistic competition model
  • Oligopoly and game theory
  • Reading and analyzing a payoff matrix

Module 05 - Factor Markets

  • Defining factor (resource) markets
  • Differentiating input from output markets
  • Identifying changes in factor demand and factor supply and outcomes
  • Profit maximization in a perfectly competitive factor market
  • The monopsony model

Module 06 - Market Failure and the Role of Government

  • Socially optimal production
  • Defining market failure
  • Efficient versus inefficient market outcomes
  • Externalities
  • Public goods
  • Private goods
  • Effects of government intervention
  • Comparing government intervention in different market structures

 

Course syllabus

Materials required

No additional materials required.

Price

course fee: 811,- EUR / 19 300,- Kč

Student’s Experience

All topics covered in the course were inspiring and also useful in the real life. I liked the interactive part of the course, such as discussion-based assessments and presentations about how the coronavirus affects the economy.

Adam M., 2020