AP Macroeconomics

0.75 Credits

1 segment / 16-18 weeks

Coursework

Open

You have been called upon to assist the leader of the Macro Islands who is running for reelection next year. The economy is in shambles, and you need to come up with some feasible solutions. This will not only help the people of the Macro Islands but will also ensure a victory for your employer.

You were hired through the Internet and are being invited to travel first class to the Macro Islands where you can learn firsthand about the situation. You arrive at Pineapple Airport in the middle of the day and are met by a man with a briefcase who is holding a sign with your name on it. You approach the man and introduce yourself.

“I’m Mr. Scarcity,” he says. “I’ll be your guide as you learn about the economic situation of the islands. You need to learn everything you can about macroeconomics and the Macro Island’s economy for your presentation to our island leader in May.” (Your AP Exam)

Note: content varies depending on course version. For currently enrolled students, please refer to the syllabus located in the course information area for curriculum specifics.

Competencies

Supply & Demand, Absolute & Comparative Advantage

Student will demonstrate understanding and application of the economic concepts of supply and demand and the distinction between absolute and comparative advantage by creating and analyzing graphs and calculating production advantage.

Economic Growth & Productivity

Student will demonstrate an understanding of the sources of economic growth by graphing and predicting the impact of changes in productivity and fiscal policy on the Aggregate Supply/Aggregate Demand model.

International Trade

Student will demonstrate an understanding of global trade by analyzing comparative advantage in production, evaluating the advantages and disadvantages of trade barriers, and calculating the international impact of the supply and demand for money.

Managing the Economy

Student will demonstrate an understanding of governmental and central banking intervention in the economy by graphing and predicting the impact of changes in fiscal and monetary policy on the Aggregate Supply/Aggregate Demand model.

Major Topics and Concepts

Segment 1

Overview of Advanced Placement
Economic Basics
Scarcity and Opportunity Costs
Production Possibilities Curves
Absolute and Comparative Advantage
Demand
Supply
Equilibrium
Price Ceilings and Floors
Circular Flow
Gross Domestic Product
Inflation and Price Indices
Business Cycle
Unemployment
Classical Economics
Aggregate Supply
Aggregate Demand
Propensities and Multipliers
Equilibrium in the AD/AS Model
Economic Growth and Productivity
Understanding the AD/AS Model
Comparative Advantage and International Trade
Balance of Payments
Exchange Rates, Financial Capital, and Net Exports
Foreign Exchange Markets
Free Trade and Trade Barriers
Understanding International Trade and Finance
The Money Supply
Money Creation and the Money Multiplier
The Time Value of Money
Loanable Funds Market
Equation of Exchange
Modern Theories
Fiscal Policy Review
Automatic Stabilizers
Economic Impact of Debt and Deficit
The Federal Reserve System
Introduction to Monetary Policy
Graphing Monetary Policy
Phillips Curve
Understanding Policies

Course Materials

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/