AP Macroeconomics

Module 01: Basic Economic Concepts
Basic Economic Concepts Introduction
Scarcity
Opportunity Cost and the PPC
Comparative Advantage and Gains from Trade
Demand
Supply
Market Equilibrium, Disequilibrium, and Changes in Equilibrium

Module 02: Economic Indicators and the Business Cycle
Economic Indicators and the Business Cycle Introduction
The Circular Flow and GDP
Limitations of GDP
Unemployment
Price Indices and Inflation
Costs of Inflation
Real v. Nominal GDP
Business Cycles
Economic Indicators and the Business Cycle Review
Economic Indicators and the Business Cycle Exam

Module 03: National Income and Price Determination
National Income and Price Determination Introduction
Aggregate Demand (AD)
Multipliers
Short—Run Aggregate Supply (SRAS)
Long—Run Aggregate Supply (LRAS)
Equilibrium in the Aggregate Demand—Aggregate Supply (AD—AS) Model
Changes in the AD—AS Model in the Short—Run
Long—Run Self—Adjustment
Fiscal Policy
Automatic Stabilizers

Module 04: Financial Sector
Financial Sector Introduction
Financial Assets
Nominal v. Real Interest Rates
Definition, Measurement, and Functions of Money
Banking and the Expansion of the Money Supply
The Money Market
Monetary Policy
The Loanable Funds Market

Module 05: Long-Run Consequences of Stabilization Policies
Long—Run Consequences of Stabilization Policies Introduction
Fiscal and Monetary Policy Actions in the Short Run
The Phillips Curve
Money Growth and Inflation
Government Deficits and the National Debt
Crowding Out
Economic Growth
Public Policy and Economic Growth

Module 06: Open Economy—International Trade and Finance
Open Economy—International Trade and Finance Introduction
Balance of Payments Accounts
Exchange Rates
The Foreign Exchange Market
Effect of Changes in Policies and Economic Conditions on the Foreign Exchange Market
Changes in the Foreign Exchange Market and Net Exports
Real Interest Rates and International Capital Flows

AP Course & Exam Registration Requirements

College Board requires students to register for AP exams no later than November 13th (individual schools may set earlier deadlines).

All VLACS AP students are required to enroll in the “course only” section in My AP.  Instructions for joining My AP will be posted on each VLACS course page and instructors are available to help with this process.

Students who plan to take the corresponding AP exam must arrange to take the exam at a local school that administers it. To register for an AP Exam, the local school will enroll the student in an “exam only” section in My AP.  Students should follow these steps:

• Search for a local test site through this resource of contact AP Services for Students at 888-225-5427 [email protected]. That office can give you contact information for local AP coordinators who may be willing to test outside students. Students are then responsible for contacting coordinators on that list to see if one can arrange to test for you. You should do this no later than October 2nd. Note that schools may have their own local deadlines for receiving requests from outside students to test at their school so we recommend doing this as soon as possible
• The AP coordinator who agrees to assist you must provide a join code for an “exam only” section in My AP. You’ll use the join code to join the section so that the AP coordinator can order your exam.

Please note that, if a school allows a student to register after the 11/13 deadline, there will be a $40 late exam fee. There will also be a $40 canceled/unused exam fee if a student registers and then cancels his/her exam or if the student does not show up on test day.

More information is available on the College Board’s website: https://apstudents.collegeboard.org/