AP® Macroeconomics is a one-semester, college-level course. Each student is expected to take the AP Macroeconomics Exam that is administered in May. Successful achievement on the AP Exam allows the student to earn three hours of college credit. Topics included in the course outline reflect the material included in the AP Economics Course Description from the College Board.
A course in AP Macroeconomics is challenging and stimulating. In order to prepare adequately for the Advanced Placement Macroeconomics Exam in May, students must spend a considerable amount of time preparing for class. It also gives greater opportunity for individual progress and accomplishment, and goes into greater depth. Preparation for the AP exam as well as course requirements will include striking a balance between learning factual knowledge, critical thinking, analysis, interpretation, synthesis, and evaluation.
This course is an introduction to macroeconomics. The purpose of a course in AP Macroeconomics is to give students a thorough understanding of the principles of economics that apply to an economic system as a whole: aggregate national income and output, government spending and taxation, money banking, monetary policy and international trade. Such a course places particular emphasis on the study of the economic indicators, inflation and unemployment, money and banking, stabilization policies, and the United States and world trade.
The course goals are threefold:
- to introduce students to the field of macroeconomics
- to teach basic economic concepts and analytical skills
- to enable students to perform successfully on the AP Macroeconomics Exam
Course Objectives
After completing AP Macroeconomics course, students should be able to do all of the following:
- define and understand the key terms given at the end of each chapter;
- use the graphical and mathematical tools of macroeconomic theory as demonstrated in class, in the text, and in homework problems;
- explain in detail how the basic measures of economics performance are calculated and the significance of changes in these measures;
- explain in detail the money creation process and the workings of our financial system;
- use macroeconomics models presented in class and the text, analyze the various fiscal and monetary policies to determine their impacts on the measures of economics performance.
The course includes but is not limited to the following topics:
- The Nature and Method of Economics
- The Economizing Problem
- Individual Markets: Demand and Supply
- The Market System
- The U.S. Economy: Private and Public Sectors
- The United States in the Global Economy
- Measuring Domestic Output, National Income, and the Price Level
- Introduction to Economic Growth and Instability
- Basic Macroeconomic Relationships
- Aggregate Expenditures: The Multiplier, Net Exports, and Government
- Aggregate Demand and Aggregate Supply
- Fiscal Policy
- Money and Banking
- How Banks and Thrifts Create Money
- Monetary Policy
- Extending the Analysis of Aggregate Supply
- Economic Growth and the New Economy
- Deficits, Surpluses and the Public Debt
- Disputes Over Macro/Micro Theory and Policy
- International Trade
- Exchange Rates, The Balance of Payments, and Trade Deficits
*Please note that the themes and topics may vary with each teacher’s instructional focus.
This course is offered at the Homestead and Kendall Campuses
For the complete course description, please visit: http://apcentral.collegeboard.com/apc/public/repository/ap08_economics_coursedesc.pdf