Econowaugh AP

Monday, December 1, 2014

Basics, PPC, Comparative Advantage, Utility, Cheat Sheet

Don't be fooled. This stuff is more complicated than it looks and it is always on the test.

Friday, November 28, 2014

Resource Costs (Labor) 1

Ok, just put this section together,, more to come. Comments,, wcwaugh@aol.com

Tuesday, November 25, 2014

Government Intervention Cheat Sheet

A cheat sheet is no replacement for doing all of the FRQ's on Government Intervention, go to the AP's exam website and do all of the FRQ's. AP Microeconomic Exam

Tariff - (World Price) - 20014, 2012, 2004, 2004B, 2003B

Price Ceiling - 2006B

Price Floor - ?

Per Unit Tax -2010, 2005, 2004

Subsidy - 2005B

Monday, November 24, 2014

Elasticity (XED,YED) Cheat Sheet

Externality Cheat Sheet

The APis fairly straight forward asking about externalities/ market failure but they do tweak it a bit by asking how dead weight loss DWL is effected by certain solutions (Tax, subsidy, lump-sum tax, etc.) Be prepared.
meet-up tonight at 6pm in Stanley @ Pacific Coffee
http://www.meetup.com/Hong-Kong-AP-Economics/
Welcome if you are in HK.

Externality Check list,
When crafting a diagram, make sure that all necessary parts are added for the readers.
I made this checklist for the IB exams but it works equally well for the AP.

Elasticity Cheat Sheet 1 (PED, TR, PES)

Ok, I finally got started on a Elasticity cheat sheet, covering PED. Total Revenue and PES. Number two will cover YED & XED. I'm sure I will change this in some fashion in the next few days but it's a good start. I really need some way of being able to download this stuff to a site that others can snatch it off of,,, any suggestions? (Email me - wcwaugh@aol.com)

Sunday, November 23, 2014

Demand & Supply - Cheat Sheet

I haven't in the past actually created a cheat sheet for the Demand & Supply section of the AP economics course. Anyway here it is,, will update it with my own graphs over time.