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AP Economics 2013-2014

AP Economics 2013-2014. Microeconomics Macroeconomics. Mr. Saeil Oh (Sam). Originally from Busan , South Korea, moved to Fairfax, VA about 12 years ago George Mason graduate with bachelors in history and masters degree in teaching

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AP Economics 2013-2014

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  1. AP Economics 2013-2014 Microeconomics Macroeconomics

  2. Mr. Saeil Oh (Sam) • Originally from Busan, South Korea, moved to Fairfax, VA about 12 years ago • George Mason graduate with bachelors in history and masters degree in teaching • Recently started at Valley, but going into 4th year teaching, 2nd year in Econ! • Avid Yankees fan!

  3. 2 for the price of 1! • Actually it’s 2 for the price of 2 • Two semester courses • Two AP exams • Credit for 4+ at W&M, VT, GMU & JMU • 5+ at UVA • Radford gives 6 credits for 3 on either* • One heck of a lot of fun- lol!

  4. What does micro include? • Study of decision-making by individuals, families, and business based on factors such as opportunity cost, price, etc. • Price elasticity and responses to price changes (substitution, changes in demand) • Impact of policy decisions on individuals, families, and businesses Leads to an understanding of rational decision making and personal choices based on self-interest In other word, it’s all about small pictures!

  5. What does Macro include? • Overall economic issues, e.g. inflation, unemployment, GDP • Fiscal policy, including Keynesian ideas and the stimulus package • Monetary policy, including interest rates • Business cycles Leads to an understanding of policy decisions In other word, it’s all about big pictures!!

  6. How does it work? • Deals largely with concepts such as opportunity cost and scarcity (not so much of reading!!) • Focuses on rational behavior that is predictable (generalized concepts) • Some math is involved- basic operations- with no calculator! • Graphing is largely number-free

  7. Should I take Econ? • No! • If you are lazy • If you are a whiner • If you think AP should not require a lot of work • If you think A’s are an entitlement

  8. Should I take Econ? • Yes! • If you want to understand business and politics • If you want to attend an elite college • If you want Mr. Oh for a teacher • If you like these PowerPoints

  9. Questions • Will it be hard? Yes • Will it be a lot of work? Not really • Will it be fun? Sometimes • Should you take it? Not if you are going to be a slacker! • Summer Assignment? Yes!

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