AP economics

AP Macroeconomics and AP Microeconomics

The AP Program offers two courses in economics: AP Macroeconomics and AP Microeconomics. Each course corresponds to one semester of a typical introductory college course in economics. AP Macroeconomics focuses on the principles that apply to an economic system as a whole. AP Microeconomics focuses on the principles of economics that apply to the functions of individual decision-makers, both consumers and producers, within the economic system.

The topics covered in AP Macroeconomics are:

• Unit 1: Basic Economic Concepts

• Unit 2: Economic Indicators and the Business Cycle

• Unit 3: National Income and Price Determination

• Unit 4: Financial Sector

• Unit 5: Long-Run Consequences of Stabilization Policies

• Unit 6: Open Economy—International Trade and Finance

The topics covered in AP Microeconomics are:

• Unit 1: Basic Economic Concepts

• Unit 2: Supply and Demand

• Unit 3: Production, Cost, and the Perfect Competition Model

• Unit 4: Imperfect Competition

• Unit 5: Factor Markets

• Unit 6: Market Failure and the Role of Government

*AP courses, or Advanced Placement courses, are designed and created by the College Board to allow students to experience college-level academics while still in high school and earn college credit and placement.