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It places primary emphasis on the nature and functions of product markets (sold by firms/individuals, bought by households/individuals), and the role of government in promoting greater efficiency and equity in the economy. It includes the following concepts: scarcity, opportunity costs, production possibilities, specialization and comparative advantage, the functions of any economic system, supply and demand, models of consumer choice, firm production, costs, revenues, product pricing and outputs, efficiency and equity. Text: Economics by McConnel and Brue 17th edition Microeconomics is concerned primarily with individual units such as industries, firms and households and with individual markets, specific goods and services, and product and resource prices. On the other hand, Macroeconomics is concerned with the economy as a whole – the aggregates of the household, business and government sectors – and with measures of the total economy. Learning Methods: The course will include lecture, demonstration, discussion and research. Students are responsible for completing assignments by the next class day. (See assignment sheet.) Late work is not accepted. Thorough reading of assigned material in the text is essential as you are expected to know information for tests that will not necessarily be covered in class. (This will be true in many college classes, too.) You are strongly encouraged to take all online practice quizzes for each chapter as test preparation. Websites: Textbook:  HYPERLINK "http://highered.mcgraw-hill.com/sites/0072819359/student_view0/"http://highered.mcgraw-hill.com/sites/0072819359/student_view0/ You will use this website with some regularity. Economagic.com is an excellent source for statistics about the U.S. economy and there are multiple websites with financial information including Yahoo! Finance and MSN money. Assessment: Student grades are based on performance on tests, presentations, homework and problem sets. I grade on a point scale. Each assignment, unit and the final grade will be based on the following scale: 90 – 100% = A – 89% = B 65 – 79% = C 55 – 65% = D 0 – 55% = F If you are absent for a test you must make it up at lunchtime or after school; usually the day you return. It is expected that students will take the AP exam in May. Registration for the exam begins in March. Contact I enjoy working with students one-on-one. I am available by appointment and before or after school. You may also contact me by leaving a phone message at school or sending email. Send email to mspinrad@nusd.org. Please do not send email messages that I need to read right away. Important assignments can be downloaded from my website. 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