AP Microeconomics Pacing Guide - Unit 1: An Introduction to Microeconomics - 2 Weeks

Sep 20, 2026

Uploaded by Cipher

AP Microeconomics develops analytical skills and factual knowledge to help students critically evaluate economic problems and materials. The course emphasizes assessing economic data for relevance, reliability, and importance, and weighing evidence and interpretations in economic scholarship. It requires students to communicate conclusions with clear reasoning, analysis, synthesis, and persuasive evidence in free-response formats. The document outlines course objectives, key concepts, textbook and supplemental resources, and begins Unit 1 with readings, topics, activities, assessments, and a day-by-day schedule.

LanguageEnglish

CategoryExam

FormatPDF

Pages22

Reading Time55 min

AccessFree to download

Course Overview

Course Objectives

Textbook & Supplemental Materials

Unit 1: An Introduction to Microeconomics (2 Weeks)

Readings

Topics

Activities and Assessments

Schedule

!" $%&'()&(*($%&+ The AP program in Microeconomics is designed to provide students with the analytical skills and factual knowledge necessary to deal critically with the problems and materials in economics. The program prepares students for intermediate and advanced college courses by making demands upon them equivalent to those made by introductory college courses. Students should learn to assess economic data-their relevance to a given interpretive problem, their reliability, and their importance-and to weigh the evidence and interpretations presented in economic scholarship. An AP Microeconomics course should thus develop the skills necessary to arrive at conclusions on the basis of an informed judgment and to present reasons, analysis, synthesis and evidence clearly and persuasively in a free response format. COURSE OBJECTIVES: The purpose of AP Microeconomics is to give students a thorough understanding of the principles of economics that apply to the functions of individual decision makers, both consumers and producers, within the larger economic system. It places primary emphasis on the nature and functions of product markets, and includes the study offactor markets and the role of government in promoting greater efficiency and equity in the economy. It includes the following concepts: scarcity, opportunity costs and production possibilities, specialization and comparative advantage, the functions of any economic system, the nature and functions of product market, supply and demand, models of consumer choice, firm production, costs, revenues, product pricing and outputs, efficiency and government policy, factor markets, efficiency, equity, and the role of government. TEXTBOOK & SUPPLEMENTAL MATERIALS: McConnell and Brue, Economics: Principles, Problems, and Policies, AP Edition, 19th edition Boston, McGraw-Hill-Irwin 2012. [www.collegeboard.com](www.collegeboard.com/)[/](www.collegeboard.com/) (official AP website) The Economist Magazine Various test preparation books will be shared at year-end for your review and use. UNIT 1: AN INTRODUCTION TO MICROECONOMICS (2 WEEKS) Readings: McConnell and Brue. Chapters 1, 2, and 5. Chapter 1-Limits, Alternatives, and Choice. pp. 4-22. Topics: • The economic perspective: scarcity and choice, rational behavior, marginalism, benefits and costs. • Why study economics: Economics for citizenship, professional and personal applications • Economic methodology: theoretical economics, policy economics • Macroeconomics and microeconomics: macroeconomics, microeconomics, positive and normative economics • Pitfalls to sound reasoning: biases, loaded terminology, definitions, fallacy of composition, causation fallacies Readings: Appendix to chapter 1: graphs and their meaning. Chapter 2-The Market System and the Circular Flow, pp. 29 – 40 Topics: • The foundation of economics: unlimited wants, scarce resources • Economics: employment and efficiency, full employment, using available resources, full production, using resources efficiently, production possibilities table, production possibilities curve, law of increasing opportunity cost, efficiency revisited • Unemployment, Growth and the Future: unemployment and productive efficiency, a growing economy, a qualification-international trade, examples and applications • Consider this: A matter of degrees, Is college worth the cost? • Economic systems: the market system, the command system • The circular flow model • Characteristics of the market system: private property, freedom of enterprise and choice, self-interest, competition, markets and prices, reliance on technology and capital goods, specialization, use of money, active but limited government • The market system at work: what will be produced, how will goods and services be produced, who will get the goods and services, how will the system accommodate change? • Competition and the “Invisible hand” Readings: Chapter 5-Market Failures.

FAQs

What skills does AP Microeconomics aim to build?

Students learn to assess economic data for relevance, reliability, and importance, and to weigh evidence and interpretations. The course also trains students to present well-supported conclusions in free-response writing.

Which major concepts are included in the course?

The course covers scarcity and opportunity costs, production possibilities, specialization and comparative advantage, product and factor markets, supply and demand, models of consumer choice, firm costs and revenues, efficiency, equity, and the role of government.

What does Unit 1 cover and how long is it?

Unit 1 is “An Introduction to Microeconomics” and lasts 2 weeks. It includes readings from McConnell and Brue (chapters 1, 2, and 5) and topics on scarcity, the market system, the circular flow model, and market failures.

Sep 20, 2026

Uploaded by Cipher