AP Economics Summer Assignment

Welcome to AP Economics! This summer assignment is designed to introduce you to the fundamental concepts of microeconomics and macroeconomics that we will explore in depth during the upcoming academic year. By completing these assignments, you will build a strong foundation that will help you succeed in the course.

Purpose of the Summer Assignment

The summer assignments serve several key purposes:

• Introduce core economic concepts and terminology
• Develop analytical skills for economic thinking
• Help you understand how economics applies to real-world situations
• Prepare you for the workload and expectations of the AP course

Assignment Components

Part 1: Textbook Reading and Notes

Read the first three chapters of "Mankiw's Principles of Economics" and create detailed notes including:

• Key definitions of economic terms
• Main principles and theories presented
• Real-world examples of economic concepts
• Visual diagrams with explanations

Part 2: Current Events Analysis

Collect and analyze 8 recent economic news articles from reliable sources. For each article:

• Provide full citation information
• Summarize the key economic content
• Identify economic concepts from your reading that apply to the article
• Explain the broader economic implications of the news

Part 3: Market Analysis Project

Select one of the following markets and write a 4-page analysis:

• Housing market in your community
• Smartphone industry
• Fast food restaurants
• Electric vehicle industry

Your analysis should include:

• Description of market structure
• Supply and demand factors affecting the market
• Role of competition and market power
• Impact of government regulations or policies
• Graphs illustrating supply and demand curves with shifts

Part 4: Economic Data Review

Visit the Bureau of Economic Analysis website and create a report analyzing the following:

• Recent GDP trends (at least 2 years)
• Unemployment statistics across demographic groups
• Inflation trends in consumer prices
• International trade balance data

Include properly labeled charts and graphs, along with analysis of what the data indicates about the economy's health and direction.

Additional Resources

To supplement your textbook reading, please review:

• Khan Academy Economics section (micro and macro)
• "Freakonomics" by Levitt and Dubner (selected chapters)
• NPR's Planet Money podcast episodes
• Economist magazine articles on current economic issues

Assignment Deadlines

Component	Due Date	Submission Method
Textbook Notes (Chapters 1-3)	July 15	Upload to course portal
Current Events Analysis	July 30	Turn in during first class
Market Analysis Project	August 10	Email to instructor as PDF
Economic Data Review	August 20	Upload to course portal

Success Tips

• Start early to allow time for thoughtful analysis
• Create a schedule to work on economics throughout the summer
• Connect concepts to real-world examples in your daily life
• Form study groups to discuss challenging concepts
• Review economic news regularly to stay current
• Don't hesitate to ask questions if concepts are unclear

Support Resources

Questions? Contact Mr. Thompson at economics@highschool.edu or attend office hours on Wednesdays from 10am-12pm in Room 214 starting July 5.

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