AP Macroeconomics Semester – 1

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AP Macroeconomics Semester – 1

AP Macroeconomics semester 1

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 over the Internet and received a first-class ticket to the Macro Islands where you can learn first-hand 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.

In this semester, you will learn the basic concepts of economics, measuring economic performance, national income, price determination, economic growth, international markets, and foreign exchange markets.




Required Materials:

Often students and parents ask for extra practice or examples to supplement the AP Macroeconomics on-line material. This course covers, at an intense level, all of the concepts tested on the College Board AP Macroeconomics Exam and provides all the lessons that you will need to gain a comprehensive understanding of Macroeconomics. However, there are times when extra practice can be both necessary and beneficial. We recommend that you purchase one of the following review books. You can purchase these books on-line at www.amazon.com and most book stores. These texts can also be found at your local library.

  • Steps to a 5: AP Microeconomics/Macroeconomics
  • The Princeton Review for AP Economics
  • Barron’s AP Micro/Macro Economics

These books are not a requirement of the course. Your instructor will not collect or grade any of the work that you choose to do in the books. The books will act as an extra resource. By purchasing and using the books, you will gain a more solid foundation in Macroeconomics.


Module 1:

  • Basic Economic Concepts
  • Overview of Advanced Placement
  • Economic Basics
  • Scarcity and Opportunity Cost
  • Production Possibilities Curves
  • Absolute and Comparative Advantage
  • Demand
  • Supply
  • Equilibrium
  • Price Ceilings and Floors
  • Understanding Economic Basics
  • Module One Exam

Module 2:

  • Measurements of Economic Performance
  • Circular Flow
  • Gross Domestic Product
  • The Business Cycle Inflation and Price Indices
  • Inflation and Price Indices
  • Unemployment
  • Module Two Exam

Module 3:

  • National Income, Price Determination, and Economic Growth
  • Classical Economics and Say’s Law
  • Aggregate Supply
  • Aggregate Demand
  • The Expenditure and Tax Multipliers
  • Equilibrium in the AD/AS Model
  • Economic Growth and Productivity
  • Keynesian Economics and Fiscal Policy
  • Understanding the AD/AS Model
  • Module Three Exam

Module 4:

  • International Economics
  • 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
  • Module Four Exam


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