Notas de lectura

AP Macroecon Notes

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Grado
AP Macroeconomics

Institución
Senior / 12th Grade

This was my notebook for my AP Macroeconomics class. This covered basic macroeconomic topics in preparation for the AP exam (including a compilation of all important graphs!) This was written during the 22-23 school year, so I'm unsure of how the curriculum may have changed since then. Hope this he...

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Subido en 28 de diciembre de 2024
Número de páginas 21
Escrito en 2022/2023
Tipo Notas de lectura
Profesor(es) Pollock
Contiene Todas las clases

econ
economics
macro
macroecon
macroeconomics
ap econ
ap macroeconomics
ap class

Institución Senior / 12th grade
Grado AP Macroeconomics
Año escolar 4

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·
economics

,CONTENT

Unit 1 :
Basic Economic Concepts pg . 3

Unit 2 :
Macro Measures pg .
9

Unit 3 : Fiscal
Policy pg . 13

Unit 4 :
Monetary Policy pg
. 17

Unit 5 Intl Trade
Foreign Exchange
: & 20
19 .

, Unit 1 :
Basic Economic Concepts

ECONOMICS : SCIENCE OF SCARCITY

>
- unlimited wants ,
but limited resources

of CHOICES
S
study

Theoretical economics : scientific method to make generalizations/abstractions to develop theories

Positive statement : based on facts (what is

Normative statement :
includes value
judgements (what ought to be

Trade-off :
every choice has a cost

ASSUMPTIONS +
scarcity
& trade-off

1) everyone acts in their own "self-interest"

2) everyone compares marginal cost a
marginal benefits

3) real-life situations be explained w/ models
can a
graphs

VOLUNTARY EXCHANGE :
you don't need to spend money if you don't want to

Consumer surplus difference between what you're
willing to pay what you actually (Boyer's Max - Price)
: a

pay

Producer's surplas : difference between the price the seller received a how much they're willing to sell for (Price-seller's Min)

Marginal analysis making :
decisions based on increments

Opportunity cost : most desirable alternative given up when you make a choice

Utility :
satisfaction Price :
amount consumer pays

Marginal :
additional Cost : amount seller pays to produce good

Allocate : distribute Investment money spent
:
by businesses to improve production

Consumer goods : created for direct consumption

Capital goods : created for indirect consumption ; make consumer
goods

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