Steven M. Reff
Economics Lecturer
University of Arizona
(2007 - 2016)
The 2015 University of Arizona
Five-Star Faculty Award

Steven Reff's Resume
Unit 6:  Open Economy -- International Trade & Finance

• Topic 6.1   Balance of Payments Account
• Topic 6.2   Exchange Rates
• Topic 6.3   The Foreign Exchange Market
• Topic 6.4   Effect of Changes in Policies and Economic Conditions
                      on the Foreign Exchange Market (FX Market)
• Topic 6.5   Changes in the FX Market and Net Exports
• Topic 6.6   Real Interest Rates & International Capital Flows
(10% – 13% of the exam)
5 - 7 class periods
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
Week 14
Below are lessons for Unit 6: Topics 6.1 - 6.6 aligned to the AP® Macroeconomics CED.
You will have textbook readings, short videos with 3 multiple choice questions, workbook
assignments, multiple choice questions, "free" response questions and much more.

These resources can be displayed on the instructor's projection system inside the classroom,
or the instructor can copy the links and give to the students as homework.

Link to the  
AP®  Macroeconomics CED (Course and Exam Description) to see in-depth
coverage on each of the topics listed below for Unit 6:  Open Economy -- International
Trade & Finance.
Principles of Macroeconomics
Topic 6.1 - 6.6  REVIEW
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
Day 1:  Week 14
Remember, you still have all of the resources and
assessments that The College Board
® provides for you
and your students.
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
eMultiple Choice Questions:
eFRQ -- Short
Unit 6
Open Economy -- International Trade & Finance
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
Day 2:  Week 14
FRQ short questions
Reffonomics Baseball Currency Exchange Market
Currency Exchange (12 Multiple Choice Questions)
Open Economy (25 Multiple Choice Questions)
Day 4:  Week 14
2023 FRQ, Set 1, #2 (Phillips Curve, Exchange Rates)
2023 FRQ, Set 1, #2 Scoring Guidelines (rubric)
2023 FRQ, Set 2, #2 (Exchange Rates)
2023 FRQ, Set 2, #2 Scoring Guidelines (rubric)
2005 FRQ #2 (Loanable Funds, Exchange Rates)
2005 FRQ #2 Scoring Guidelines (rubric)
2004B FRQ #2 (Exchange Rate, NX, RIR, I )
2006B FRQ #3 Scoring Guidelines (rubric)
2006B FRQ #3 (Exchange Rates)
2004B FRQ #2 Scoring Guidelines (rubric)
2010 FRQ #2 and #3 (AD, Current Account, Exchange Rates)
2010 FRQ #2 and #3 Scoring Guidelines (rubric)
2011 FRQ # 2 (Loanable Funds, Exchange Rates)
2011 FRQ #2 Scoring Guidelines (rubric)
2010B FRQ #2 (Money Market, Exchange Rates)
2010B FRQ #2 Scoring Guidelines (rubric)
2009 FRQ # 2 (Loanable Funds, Exchange Rates)
2009 FRQ #2 Scoring Guidelines (rubric)
2008B FRQ # 2 (Current and Capital Accounts)
2008B FRQ #2 Scoring Guidelines (rubric)
2008 FRQ # 2 (Balance of Payments, Current Account, Exchange Rates)
2008 FRQ #2 Scoring Guidelines (rubric)
2007B FRQ # 3 (Exchange Rates)
2007B FRQ #3 Scoring Guidelines (rubric)
2009B FRQ # 3 (Loanable Funds, Exchange Rates)
2009B FRQ #3 Scoring Guidelines (rubric)
2005B FRQ #3 (Loanable Funds, Exchange Rates)
2005B FRQ #3 Scoring Guidelines (rubric)
2002B FRQ #3 (Exchange Rates, X, M)
2002B FRQ #3 Scoring Guidelines (rubric)
2001 FRQ #2 (Exchange Rates, X, M)
2001 FRQ #2 Scoring Guidelines (rubric)
2002 FRQ #3 (RIR, Exchange Rates, X, M)
2002 FRQ #3 Scoring Guidelines (rubric)
2000 FRQ #2 (Exchange Rates)
2000 FRQ #2 Scoring Guidelines (rubric)
Topic 6.1 - 6.6  REVIEW
Reffonomics Baseball Game Rules
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
Day 3:  Week 14
Topic 6.1 - 6.6  FRQ (short)
Day 5:  Week 14
2022 FRQ, Set 1, #3 (Exchange Rates)
2021 FRQ, Set 1, #3 Scoring Guidelines (rubric)