All About AP Economics Micro & Macro

*AP Microeconomics*

Unit I: Introduction to Economic Science
Topic 1: Scarcity and Opportunity Costs
Topic 2: Different Types of Economic Resources
Topic 3: Positive and Normative Statements
Topic 4: Fundamental Questions in Economics
Topic 5: Production Possibilities Curves
Topic 6: Comparative Advantage and the Benefits of Trade
Topic 7: Consumers’ Utility Maximization
Practice Questions for Unit 1
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Unit II: Consumers and Producers
Topic 8: Demand and Supply Curves
Topic 9: The Significance of Market Equilibrium
Topic 10: Factors Shifting the Demand and Supply Curves
Topic 11: Government Intervention in the Market Result
Topic 12: Government Intervention in International Trade
Topic 13: Different Degrees of Elasticities
Topic 14: Different Types of Elasticities
Topic 15: The Effect of Elasticities in Tax Incidence
Practice Questions for Unit 2
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Unit III: Market Structures
Topic 16: Basic Terms for the Production Processes
Topic 17: The Production Function
Topic 18: The Cost Functions
Topic 19: Rules for Profit Maximization
Topic 20: Perfect Competition and Its Long-Run Equilibrium
Topic 21: Assessment of the Market Result
Topic 22: Exit Conditions
Topic 23: Monopoly and Its Causes
Topic 24: Perfect Price Discrimination
Topic 25: Monopolistic Competition and Its Long-Run Equilibrium
Topic 26: Oligopoly and Its Interdependency
Topic 27: Introduction to Game Theory
Practice Questions for Unit 3
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Unit IV: Factor Markets
Topic 28: The Relationship between the Goods Market and the Factor Market
Topic 29: Labor Market’s Demand and Supply
Topic 30: Perfectly Competitive Labor Market
Topic 31: Monopsony in Labor Market
Topic 32: The Cost-Minimization Rule
Practice Questions for Unit 4
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Unit V: Market Failure
Topic 33: Market Failure and the Justification of Government Intervention
Topic 34: Positive and Negative Externalities
Topic 35: Insufficient Provision of Public Goods
Topic 36: Measures of Income Inequality
Topic 37: Different Kinds of Taxes to Tackle Inequality
Practice Questions for Unit 5
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Unit VI: Review Questions
AP Microeconomics Mock Exam
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Sample Exam Questions from College Board
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FRQs from the 2021 Exam
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*AP Macroeconomics*

Unit VII: Economic Indicators
Topic 38: Three Ways to Calculate GDP
Topic 39: The Circular Flow Diagram
Topic 40: Nominal and Real GDPs
Topic 41: Limitations of GDP
Topic 42: Measures to Calculate the Inflation Rate
Topic 43: Negative Impacts of Inflation
Topic 44: Formula for the Unemployment Rate
Topic 45: Causes of Unemployment
Practice Questions for Unit 7
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Unit VIII: Booms and Recessions
Topic 46: Ups and Downs in the Growth Trend
Topic 47: Aggregate Demand and Its Composition
Topic 48: Different Types of Multipliers
Topic 49: Short-Run and Long-Run Aggregate Supply Curves
Topic 50: Changing Equilibria between the Two Curves
Topic 51: Long-Run Convergence of Current and Potential Output Levels
Topic 52: Fiscal Policies and Automatic Stabilizers
Practice Questions for Unit 8
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Unit IX: Financial Market
Topic 53: Assets and Money
Topic 54: Three Functions of Money
Topic 55: Different Standards of Calculating Money Supply
Topic 56: Monetary Expansion Process and the Money Multiplier
Topic 57: Demand and Supply in the Money Market
Topic 58: Central Bank’s Monetary Policies
Topic 59: The Loanable Funds Market between Private Agents
Practice Questions for Unit 9
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Unit X: Side Effects of Economic Policies
Topic 60: Short-Run and Long-Run Phillips Curves
Topic 61: The Equation of Exchange and Inflation
Topic 62: Deficit Spending during Economic Recessions
Topic 63: Crowding Out Effect in the Loanable Funds Market
Topic 64: Definitions of Economic Growth
Topic 65: Supply-Side Policies for Economic Growth
Practice Questions for Unit 10
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Unit XI: Trade and Exchange Rates
Topic 66: Components of the Balance of Payments
Topic 67: The Foreign Exchange Market
Topic 68: Factors Affecting the Foreign Exchange Market
Topic 69: Trade and the Exchange Rate
Topic 70: Real Interest Rates and the Free Flow of Capital
Practice Questions for Unit 11
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Unit XII: Review Questions
AP Macroeconomics Mock Exam
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Sample Exam Questions from College Board
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FRQs from the 2021 Exam
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