This course is available in the Fall Semester only.
Grades: 9, 10, 11, 12
Credits: 0.50
Description:
Microeconomics emphasizes how individuals make choices with limited resources. The student will examine concepts such as supply and demand, factors of production, roles of labor and management, the relationship between the environment and the economy, and the impact of the government on individual decision making processes. The student studies the stock market as an investment option and trace various stocks through the semester using the Wall Street Journal and the Internet as resources.
Students must take the Advanced Placement Exam in order to receive Advanced Placement credit. Students who do not take the AP® Exam will be awarded Honors level credit.
Units:
Unit One
Whether you are dealing with macroeconomics—that is, huge economies and nations—or individual businesses, there are certain basic principles that universally apply. In this unit you will learn some of the underlying mechanisms that drive the subject of microeconomics.
Unit Two
The single most important model used in microeconomics is the study of supply and demand. Simply put, this is a graphical explanation of how prices fluctuate in the marketplace. The model depends on how much people want (demand) and how much suppliers are willing to produce (supply). In most cases, the government allows businesses and individuals to conduct transactions without interference; in other cases, however, the government may regulate prices and production.
Unit Three
Now that you have learned how to determine costs of production and use supply and demand graphs, you must examine how different business structures function in the market place. For example, the nature of doing business for farmers (where there are thousands of competitors) is vastly different than that of the oil industry (where only a few companies control supply). In this unit you will consider the market structure as it pertains to perfect competition, monopolies, and oligopolies. You will also examine the effects of government regulation in the economy.
Unit Four
Now that you have learned how the product market structures work, you will look at the factor or resource market. The factor market is based around factors of production such as land, capital and labor. Since the product market drives the demand for these resources, you say the factor market is a 'derived demand market'. You will look closely at the Circular Flow Model, how wages are influenced and how financial markets come into play.
Unit Five
In the past four units, you've set the stage for how a market can run, but no system is perfectly efficient. In this unit you will analyze why markets fail and learn various solutions to returning balance to a system out of equilibrium. After looking at externalities and government intervention, you will close out the course with an overview of how income distribution and taxes impact a population.
Unit Six
You’ve completed everything you need to know before you report to the board at the Sunny Sea Shell Company. You now have the skills necessary to pass your exam. Good luck!
Online Text/eBook:
- iText Foundations of Economics, AP, 5th Edition
Once your payment is received and processed, you will receive an email with information on how to log-in to Connexus® and access this course.
If you have any questions or have not received your email with log-in instructions within one week, please contact an Admissions and
Support representative at 877-804-6222.
Seeking course credit at your full-time school? Please be aware that if you plan to transfer credit from National Connections Academy to a
non-Connections Academy school, the decision about whether to accept
NaCA course credits is wholly at the discretion of the school to which
you hope to transfer the credits.
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with your school their transfer credit policy, and inform them about
your plans to take a course or courses through NaCA, prior to
registering for a NaCA course. You may need the
course description and
Credit Request Form
if you are not a Connections Academy student, but are seeking to obtain
credit for National Connections Academy summer school courses at your
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contact an Admissions and Support Representative at 888-440-2899 with questions.