Mr. Smith's Class

Vocabulary Standards View

Curriculum Standards View for AP Macroeconomics

Vocabulary for the AP Macroeconomics

Below is the entire mapping of standards in this set, managed by Orion Smith.

Some standards are hyperlinks: clicking on them will activate a vocabulary review game which can be done in small groups. For a full description of how the game works, go to the bottom of this page.

Return to list of vocabulary standard sets
Unit 1 Basic Economic Concepts To understand economics, students must first understand that because most resources are scarce, individuals and societies must make choices. Examining how and why these choices are made will help students begin to understand the principles of supply and demand along with the importance of specialization and exchange. In addition to introducing these basic economic concepts, this unit introduces foundational models that set the stage for more advanced economic analysis in subsequent units.
87 Terms
Unit 2 Economic Indicators and the Business Cycle While Unit 1 provided students with an understanding of basic economic theory, Unit 2 sets them up for future analysis of macroeconomic concepts and issues. Students will learn how the economy works with a model of the circular flow of inputs and outputs and the money that pays for them. Students will also explore how economists assess the performance of the economy with an introduction to measures of economic performance and the business cycle.
21 Terms
Unit 3 National Income and Price Determination In the previous unit, students were introduced to key macroeconomic indicators and the business cycle. In this unit, students will learn how to represent and evaluate these concepts in the context of a specific economic model: the aggregate demand–aggregate supply model. The aggregate demand–aggregate supply model is a powerful tool that allows economists to represent the impact of spending and production decisions, economic fluctuations, and policy actions on macroeconomic outcomes, including output, income, unemployment, and inflation.
43 Terms
Unit 4 Financial Sector In the previous unit, students explored the effects of fiscal policy. In this unit, students will evaluate the macroeconomic effects of monetary policy. Before doing so, though, they should first have an understanding of how the financial sector works and be able to describe how monetary policy is implemented and transmitted through the banking system. This understanding begins with an introduction to financial assets, including money, and the way in which fractional reserve banking allows for the expansion of the money supply. Students will then build on their understanding of the financial sector by learning how to model the money market and the loanable funds market.
68 Terms
Unit 5 Long-Run Consequences of Stabilization Policies In many ways, Unit 5 is a culmination and an extension of material that has been introduced previously. For example, in Units 3 and 4, students learned that public policy can affect the economy’s output, price level, and level of employment in the short run; in this unit, students will build on this understanding to examine the long-run implications of policy actions and the concept of economic growth. Similarly, in Unit 2 students were introduced to inflation and unemployment as economic indicators, and in Unit 3 they learned about the relationship between inflation and unemployment; in this unit, students explore how the Phillips curve model is used to represent this relationship in the short run and long run.
51 Terms
Unit 6 Open Economy: International Trade and Finance Unit 6 introduces students to the concept of an open economy in which a country interacts with the rest of the world through both product and financial markets. This unit is often challenging for students because economic activity between nations must be facilitated by currency exchange, which introduces another market to be considered when analyzing macroeconomic situations. Changes in economic activity affect the supply of and demand for a nation’s currency and subsequently the value of that currency. But it is also true that changes in the value of a country’s currency can affect economic activity in that country. In addition to these insights, students have the opportunity in this unit to consider the effects of economic policy on exchange rates and the implications of such changes.
22 Terms

Vocabulary Game Directions

Student setup

Arrange the students into groups of 2-6 such that all but one student can see the screen, and one cannot. Then, click on a standard to play the game with associated terms.

Playing the game

Upon loading the game for a standard, you will see a screen like the following:

Screenshot of vocabulary game

Students who can see the screen should attempt to describe the term to the student who cannot see it. The describing students should describe using words other than those in the term itself, and also avoid saying the "prohibited terms" listed underneath it. Descriptions should avoid phrases such as "sounds like," and should use academic descriptors in order to reinforce academic understandings.

If none of the describing students know the term well enough to describe it, scroll down and find a definition of the term at the bottom of the page.

Every so often, switching up which student is guessing within groups is a great idea.

When the guessing student successfully guesses the term in question, click on it to see another in the same set. Terms are randomly ordered, and will "loop around" to the beginning of the set once the last term in the set is clicked on.

This activity is intended to be a quick, high-engagement vocabulary learning or vocabulary review strategy to last from 5-15 minutes. It can be stretched out longer by having students toggle between multiple standards. Students can get back to the list of standards by clicking on the Back to standards link on the game page.