5 Steps to a 5: AP Microeconomics 2017 (2016)
STEP 1
Set Up Your Study Program
CHAPTER 2
How to Plan Your Time
IN THIS CHAPTER
Summary: The right preparation plan for you depends on your study habits and the amount of time you have before the test.
Key Idea
Choose the study plan that’s right for you.
Three Approaches to Preparing for AP Exams
What kind of preparation program for the AP exam should you use? Should you carefully follow every step, or are there perhaps some steps you can bypass? That depends not only on how much time you have, but also on what kind of student you are. No one knows your study habits, likes, and dislikes better than you do. So you are the only one who can decide which approach to use. This chapter presents three possible study plans, labeled A, B, and C. Look at the brief profiles that follow. These will help you determine which plan is right for you.
You’re a full-school-year prep student if:
1. You are the kind of person who likes to plan for everything very far in advance.
2. You buy your best friend a gift two months before his or her birthday because you know exactly what to choose, where you will buy it, and how much you will pay for it.
3. You like detailed planning and everything in its place.
4. You feel that you must be thoroughly prepared.
5. You hate surprises.
If you fit this profile, consider Plan A .
You’re a one-semester prep student if:
1. You buy your best friend a gift one week before his or her birthday because it sort of snuck up on you, yet you have a clear idea of exactly what you will be purchasing.
2. You are willing to plan ahead to feel comfortable in stressful situations, but are okay with skipping some details.
3. You feel more comfortable when you know what to expect, but a surprise or two is cool.
4. You’re always on time for appointments.
If you fit this profile, consider Plan B .
You’re a 6-week prep student if:
1. You buy your best friend a gift for his or her birthday, but you need to include a belated card because you missed it by a couple of days.
2. You work best under pressure and tight deadlines.
3. You feel very confident with the skills and background you’ve learned in your AP Economics classes.
4. You decided late in the year to take the exam.
5. You like surprises.
6. You feel okay if you arrive 10 to 15 minutes late for an appointment.
If you fit this profile, consider Plan C .
Table 2.1 Three Different Study Schedules
Calendar for Each Plan
Plan A: You Have a Full School Year to Prepare
Use this plan to organize your study during the coming school year.
SEPTEMBER–OCTOBER (Check off the activities as you complete them.)
_____ Determine the student mode (A, B, or C) that applies to you.
_____ Carefully read Chapters 1 to 4 of this book.
_____ Take the diagnostic exam.
_____ Pay close attention to your walk-through of the diagnostic exam.
_____ Get on the Web and take a look at the AP website(s).
_____ Skim the review chapters in Step 4 of this book. (Reviewing the topics covered in this section will be part of your yearlong preparation.)
_____ Buy a few color highlighters.
_____ Flip through the entire book. Break the book in. Write in it. Toss it around a little bit . . . highlight it.
_____ Get a clear picture of your own school’s AP Economics curriculum.
_____ Begin to use this book as a resource to supplement the classroom learning.
NOVEMBER (the first 10 weeks have elapsed)
_____ Read and study Chapter 5 , “Fundamentals of Economic Analysis.”
_____ Read and study Chapter 6 , “Demand, Supply, Market Equilibrium, and Welfare Analysis.”
DECEMBER
_____ Read and study Chapter 7 , “Elasticity, Microeconomic Policy, and Consumer Theory.”
_____ Review Chapters 5 to 6 .
JANUARY (20 weeks have elapsed)
_____ Read and study Chapter 8 , “The Firm, Profit, and the Costs of Production.”
_____ Review Chapters 5 to 7 .
FEBRUARY
_____ Take Microeconomics Practice Exam 1 in the first week of February.
_____ Evaluate your Micro strengths and weaknesses.
_____ Study appropriate chapters to correct your Micro weaknesses.
_____ Read and study Chapter 9 , “Market Structures, Perfect Competition, Monopoly, and Things Between.”
_____ Review Chapters 5 to 8 .
MARCH (30 weeks have now elapsed)
_____ Read and study Chapter 10 , “Factor Markets.”
_____ Review Chapters 5 to 9 .
APRIL
_____ Read and study Chapter 11 , “Public Goods, Externalities, and the Role of Government.”
_____ Review Chapters 5 to 10 .
MAY (first two weeks) (THIS IS IT!)
_____ Review Chapters 5 to 11 —all the material!
_____ Take Practice Exam 2.
_____ Score yourself.
_____ Get a good night’s sleep before the exam. Fall asleep knowing that you are well prepared.
GOOD LUCK ON THE TEST!
Plan B: You Have One Semester to Prepare
If you have already completed one semester of economic studies, the following plan will help you use those skills you’ve been practicing to prepare for the May exam.
JANUARY–FEBRUARY
_____ Carefully read Chapters 1 to 4 of this book.
_____ Take the diagnostic exam.
_____ Pay close attention to your walk-through of the diagnostic exam.
_____ Read and study Chapter 5 , “Fundamentals of Economic Analysis.”
_____ Read and study Chapter 6 , “Demand, Supply, Market Equilibrium, and Welfare Analysis.”
_____ Read and study Chapter 7 , “Elasticity, Microeconomic Policy, and Consumer Theory.”
_____ Take Microeconomics Practice Exam 1 in the last week of February.
_____ Evaluate your Micro strengths and weaknesses.
_____ Study appropriate chapters to correct your Micro weaknesses.
MARCH (10 weeks to go)
_____ Read and study Chapter 8 , “The Firm, Profit, and the Costs of Production.”
_____ Read and study Chapter 9 , “Market Structures, Perfect Competition, Monopoly, and Things Between.”
_____ Review Chapters 5 to 7 .
APRIL
_____ Read and study Chapter 10 , “Factor Markets.”
_____ Read and study Chapter 11 , “Public Goods, Externalities, and the Role of Government.”
_____ Review Chapters 5 to 9 .
MAY (first two weeks) (THIS IS IT!)
_____ Review Chapters 5 to 11 —all the material!
_____ Take Microeconomics Practice Exam 2.
_____ Score yourself.
_____ Get a good night’s sleep before the exam. Fall asleep knowing that you are well prepared.
GOOD LUCK ON THE TEST!
Plan C: You Have Six Weeks to Prepare
Use this plan if you have been studying economics for six months or more and intend to use this book primarily as a specific guide to the AP Microeconomics exam. If you have only six weeks to prepare, now is not the time to try to learn everything. Focus instead on the essential points you need to know for the test.
APRIL 1–15
_____ Skim Chapters 1 to 4 of this book.
_____ Skim Chapters 5 to 6 .
_____ Carefully go over the Rapid Review sections of Chapters 5 to 8 .
_____ Complete the Microeconomics Practice Exam 1.
_____ Score yourself and analyze your errors.
_____ Skim and highlight the Glossary at the end of the book.
APRIL 15–MAY 1
_____ Skim Chapters 9 to 11 .
_____ Carefully go over the Rapid Review sections of Chapters 9 to 11 .
_____ Continue to skim and highlight the Glossary at the end of the book.
MAY (first two weeks) (THIS IS IT!)
_____ Carefully go over the Rapid Review sections of Chapters 5 to 11 .
_____ Take Microeconomics Practice Exam 2.
_____ Score yourself and analyze your errors.
_____ Get a good night’s sleep before the exam. Fall asleep knowing that you are well prepared.
GOOD LUCK ON THE TEST!