AP MACROECONOMICS

AP MACROECONOMICS

This course covers the content set forth by the College Board for the AP Macroeconomics curriculum. The major topics covered include Basic Economic Concepts and how to think like an economist. The course then moves into macroeconomic concepts and understanding major economic goals of an economy, how to meet goals through policy implementation, and how to deal with competing goals. Money and the financial sector is explained. Finally, trade and foreign markets are covered. This course also covers how to approach the AP Macroeconomics test questions and succeed in assessments.

RECOMMENDED PRE-REQUISITE: US History

ONE SEMESTER COURSE

Unit 1: Basic Economic Concepts

  • Scarcity
  • Opportunity Cost
  • Production Possibilities
  • Specialization and Comparative Advantage
  • Traditional, command, and market economies
  • Functions of Any Economic System

Unit 2: Supply and Demand

  • Demand
  • Supply
  • Equilibrium Price and Quantity
  • Price Floor and Price Ceiling

Unit 3: National Income and Price Determination

  • Gross Domestic Product and National Income Concepts
  • Aggregate Demand and Supply; National Income and Price Determination
  • Classical Theory and Keynesian Theory: An Introduction
  • Fiscal Policy

Unit 4: Measures of Economic Performance

  • Economic Growth and Productivity
  • Unemployment
  • Inflation
  • The Phillips Curve

Unit 5: Stabilization Policies and the Financial Sector

  • Money Defined
  • Money Market
  • Fractional Reserve Banking
  • Banks and Creation of Money
  • Loanable Funds Market
  • onetary Policy: Tools of the Fed

Unit 6: Open Economy: International TradeThe Balance of Payments

  • The Balance of Payments
  • Foreign Exchange (FOREX)
  • Financial Capital Flows of Nations

Unit 7: Practice AP Test

  • Tips for the Course Review and AP Test
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