Economics

Understand the model. Explain the outcome.

Economics is not a collection of graphs and formulas to memorise. Students learn how one change affects the wider model, then communicate that reasoning through diagrams, calculations, and written analysis.

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taipei 17:55

AP Microeconomics · AP Macroeconomics

The newest of Wallace Academia's three specialisations, built around custom interactive courseware, clear economic reasoning, and disciplined examination preparation.

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01Model into meaning

Interactive Graphs.

A student may recognise a familiar graph and still shift the wrong curve, misread the initial equilibrium, or use the wrong values in a calculation.

Scott has created custom interactive graphs that allow students to change one condition at a time and see how the model responds. Curves move, equilibrium changes, and calculations update immediately, making the relationship between cause and result directly visible.

The student then learns to explain what changed, why the model responded, and how the new outcome follows. This develops a repeatable method for unfamiliar questions rather than dependence on memorised diagrams.

Illuminated modern circular ring ceiling lights in varying sizes against a dark background.

One chain, stated out loud

See the relationship.
Explain it.

Scott teaches students to state the complete economic chain in clear language.
interactive graphs are used to test and confirm the reasoning, not to replace it.

Identify the change

What event, policy, incentive, or economic condition changed first?

Apply the model

Which curve, equation, or accounting relationship is relevant, and how should it respond?

Trace the effects

What happens next to price, quantity, output, inflation, unemployment, or economic welfare?

Explain and verify

State the complete chain in words, then use the graph or calculation to confirm the conclusion.

Two live graphs sit further down this page: move a variable and the curves, the equilibrium and the welfare areas respond in the same frame, with a sentence beside them stating the causal chain.

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Course systems

AP Microeconomics

How individuals, firms, and governments make decisions when resources are limited: supply and demand, elasticity, consumer and producer behaviour, production costs, market structures, factor markets, externalities, taxation, international trade, efficiency and welfare. Students predict which variable will change, test the result on the graph, complete the calculation, and explain why the outcome follows.

AP Macroeconomics

The performance of the economy as a whole: national income accounting, growth, inflation, unemployment, aggregate demand and supply, fiscal and monetary policy, banking, financial markets, exchange rates, and the balance of payments. Students trace how a shock moves through the economy and distinguish short-run from long-run effects.

Preparation

Each unit is built
before it is taught.

Each AP Economics unit is developed as a responsive HTML lesson rather than assembled from generic slides or shared documents.

Scott typically spends 8 to 12 hours reviewing the curriculum, coding visual explanations and interactive graphs, verifying numerical examples, and sequencing the questions and practice activities.

These figures describe the development completed before the unit is taught. They are not billable lesson hours and do not guarantee a particular examination result.

8 to 12

hours of development

For each AP Economics unit

Interactive

HTML MODEL

Adjusted during the lesson and available for later review

From the lesson

The material itself,
not a description of it.

Everything else on this page is a claim about how economics is taught here. This is the teaching. It is one of the reference guides Scott builds for his own students, and it opens in full.

The circular flow is where most AP Economics students first lose the thread, because the diagram is usually presented as something to memorise rather than something to read. This one is built to be read: the layers come on one at a time, and every arrow explains its own direction.

Written by Scott

Not a template, not a purchased resource, and not produced for this website. It is what a student receives.

AP Economics · Unit 1 · Reference guide

The Circular Flow of Economic Activity

Course

AP Microeconomics and AP Macroeconomics

Level

Grade 10 to Grade 12

Sections

Thirteen, from orientation to examination practice

An interactive diagram that adds government and the rest of the world one layer at a time, and can isolate real flows from money flows.

An inspector: click any actor, market or arrow and it explains the direction, the paired flow, the common misconception and what the examiner does with it.

A transaction tracer, a numerical reconciliation of the flows, and an examination question bank where every wrong choice is explained rather than simply marked wrong.

Open the guideOpen the guide

Taipei

The record here, in full

Two years.
Three students.

Scott has taught economics for two years and has worked with three students. In 2025, one student earned scores of 5 in both AP Microeconomics and AP Macroeconomics. A second student earned an A in a non-AP economics course. A third student reported earning a score of 5, although Wallace Academia does not currently hold the official score report. That is the whole of the record. It is the least proven of the three subjects, and saying so is the point of this page.

How the records are presented

Adjust the variable, view the relationship

At NT$60 a unit, buyers pay NT$210 and sellers keep NT$150. The law names the seller; the market names the buyer. NT$42 of the tax, or 70% of it, lands on demand, because supply here is the more elastic side. Quantity falls 1.5 thousand to 7.5 thousand, and NT$45 thousand of surplus is destroyed rather than moved.

Values at a tax of NT$60 a unit
Measure	Value
Tax per unit	NT$60
Price paid by buyers	NT$210
Price received by sellers	NT$150
Quantity traded	7.5 thousand
Untaxed price	NT$168
Untaxed quantity	9 thousand
Burden carried by buyers	NT$42
Burden carried by sellers	NT$18
Buyers' share of the tax	70%
Government revenue	NT$450 thousand
Consumer surplus	NT$788 thousand
Producer surplus	NT$338 thousand
Deadweight loss	NT$45 thousand

Demand rises by 4 h a week at every price, and only 1 h of that becomes teaching that actually happens: the week goes from 15 h to 16 h. The other 75% of the shift is absorbed by price, which climbs NT$90 to NT$2,040.

Scope of the work

Within Scope

Drawing, interpreting, and adjusting economic graphs

Completing calculations accurately and structuring AP free-response answers

Analysing multiple-choice questions, including why the correct answer works and why each distractor fails

Tracing a complete causal chain from the initial change to the final economic outcome

Revising the student's own reasoning and written explanations

Outside Scope

Providing answer keys or completed solutions without explanation and instruction

General homework monitoring without a defined Economics learning objective

Completing assessed work on the student's behalf

Mathematics instruction beyond the calculations required for AP Economics

Promising a particular course grade or examination score

Consultation

Send the current
unit, the latest assessment, and one difficult question.

Where possible, include the student's working, graph, and teacher feedback. Scott will identify whether the difficulty lies in subject knowledge, selecting the correct economic model, interpreting the graph, completing the calculation, or explaining how one change leads to another. This determines the first priority for instruction.

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