Course Syllabus

Welcome Video

Wellesley High School AP Economics Syllabus 

Mr. Pedersen

pedersenb@wellesleyps.org

(preferred contact method)

Room:137 (Orange block is in 147)

Tuesdays after school until 3

  • By appointment most days
  • During A Block
  • All office hours will be in room 137

The AP Program offers two separate exams in economics, one in microeconomics and one in macroeconomics.  The aim of this AP Economics course is to provide students with a learning experience equivalent to that in a typical college introductory economics course. 

In this course, students will prepare for both the AP Microeconomics and the AP Macroeconomics Exams and (hopefully) additional Post-secondary Economic Education by;

  • Mastering economic thinking and decision-making.
  • Learning to support and explain concepts with both written responses and a variety of graphical models.
  • Demonstrating understanding of the connections between economics and math.
  • Understanding the general development of modern economic theory.
  • Becoming familiar with the basic language of business and economists and being able to understand the basic measurements of economic performance in printed media.

AP Exam Formats:

Each Exam is scheduled for 2 hours 10 minutes.  Students are given 70 minutes to answer 60 MC Questions.  Then, following a 10 minute reading period, students have 50 minutes to write answers to 3 Free Response Questions (One long question (25 min.) and two shorter questions (25 min.).  For the 2025 exam administration, the college board will be using a hybrid format for both economics exams.  Students will complete the multiple choice section electronically and the FRQs will be handwritten.

Materials:

  • 3 ring binder
    • Syllabus/Important Papers
    • Class Notes / Key Vocabulary
    • Notebook Paper
    • Returned Quizzes
    • Worksheets
    • Homework

Grading Policy:

Unit Exams/ Projects  (Multiple Choice and FRQ): 60%

Quizzes: 20%

Homework/ Notes: 20%

*please see me if you need to make additional accommodations for assessments

Late Work Policy:  No late work will be accepted after a unit test is completed.  Points will be deducted if work is consistently late.  When you turn in an assignment late, it is your responsibility to email me the file (or if it is a google form assignment- notify me that you've finished the assignment)

Grading scale:

A- 90-100%

B- 80-89%

C- 70-79%

D- 65-69%

F-64%- Below 

Office Hours:

Mondays after school, most A blocks, or during my free blocks (Tan and Yellow).  Please ask for help if you feel like you are falling behind or don't understand something!  My role is to support you in this course so please take advantage of extra help.  

Requirements:

Each student is expected to complete all assignments and tasks as assigned in class or at home.  With such preparation, students can bring evidence and participate actively in classroom discussions, writings, etc.  PARTICIPATION IS REQUIRED!  Topics are varied and sometimes can be controversial however, the student must remain focused on completing the assignments and incorporating a variety of points of view into their knowledge base.  

Note to students:  Students who are not in class on any given day are responsible for any missed assignments, assessments, readings, etc.  Every day is a teaching day; if you are not in class, teaching will still occur.  Please check with me, a fellow classmate, or Canvas for valuable information, assignments, etc. if/when you are absent.

Absence Policy:

If you have an excused absence, you have as many days as you missed to make up your missing assignments (ex.  Miss 2 days, you have 2 days to make up any missing work).  If you miss a Test or Quiz, it is YOUR responsibility to schedule an opportunity to make it up with me within 2 days of the absence.   Any infractions of the absence policy as outlined in the Student Handbook also apply.   If I am absent, please check Canvas for posted work.  

Classroom Expectations

  1. Respect for others, yourself and the learning of others
  2. Bring your best self every day and a willingness to learn
  3. Be prepared for class every day 
    • Homework completed
    • Readings/ videos (with notes completed)
    • electronic device charged
  4. Active Engagement 
    • taking notes (notebooks only)
    • phones stored and silenced
    • computer/ Ipad use when appropriate
    • participation in class discussion 
  5. The rules in the Student Handbook apply in this class as well

AP Exam Policy

There are 2 exams for this class which means it could cost you $200, but this is a good investment whether you go on to study business or not.  You're taking 1 class and getting 2 exams and if you pass, it could save you thousands in potential tuition.  You also would be saving about half a semester of course work too.  If cost is an issue, please see me or your school counselor.  Taking the AP Exam will count as your final experience requirement for this course.  

*Note: if you do not take the exam, the practice AP Exam(s) we will take the place of your final experience grade and you will receive your score from those test(s).  

Exam Date: Monday, May 4, 2026 (Micro)

Exam Date: Friday, May 8, 2026(Macro)

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Microeconomics:

  1. Basic Economic Concepts.
    1. Scarcity, choice & opportunity costs.
    2. Economic systems
    3. Production possibilities curve.
    4. Absolute and comparative advantages, trade.
    5. Supply and Demand
    6. Price and quantity controls.
  2. Marginal Analysis and Elasticity
    1. Marginal analysis
      1. Marginal Benefits and Marginal Costs
      2. Marginal Utility 
      3. Consumer Choice
    2. Supply and demand Elasticity
      1. Price Elasticity of Demand
      2. Elasticity of Supply
      3. Income Elasticity
      4. Cross Price Elasticity
      5. Elasticity and Tax Policy
  3. Production, revenues and costs.
    1. Short run and long run production.
      1. Marginal product and diminishing returns.
      2. Short run costs
      3. Long run costs and economies of scale.
      4. Productive efficiency.
      5. Profits.
      6. Perfect competition.
  4. Imperfect Competition
        1. Monopoly.
        2. Monopolistic competition.
        3. Oligopoly and game theory.
  5. Factor markets.
      1. Derived factor demand.
      2. Marginal revenue product.
      3. Hiring and input decisions.
      4. Market distribution of income.
  6. Market failure and the role of government.
      1. Public goods.
      2. Public policy to promote competition.
      3. Income distribution

 

Macroeconomics

  1. Basic Economic Concepts – see microeconomics.
  2. Economic performance.
    1. Gross Domestic Product
    2. Inflation
    3. Unemployment
  3. National income and price determination.
    1. Aggregate demand.
    2. Aggregate supply.
    3. Macroeconomic equilibrium.
    4. Fiscal Policy
  4. Financial sector.
    1. Money, banking and financial markets.
    2. Loanable funds market.
    3. Central banks and money supply.
    4. Monetary Policy
  5. Stabilization policies.
    1. Fiscal and monetary policy Interactions
    2. The Phillip’s curve
    3. Economic growth.
  6. International trade.
    1. Balance of payments.
    2. Foreign exchange markets.
    3. Imports and exports.