AP Macro


  • Text: Ray, Margaret, and David Anderson. Krugman's Macroeconomics for AP. New York: Worth Publishers/BFW, 2011.


    Course Description:

    “The purpose of this AP course in Macroeconomics is to give students a thorough understanding of the principles of economics that apply to an economic system as a whole. Such a course places particular emphasis on the study of national income and price-level determination, and also develops students' familiarity with economic performance measures, the financial sector, stabilization policies, economic growth, and international economics.” (AP Course Description Manual 2010)


    Class Activities/Work:

    Completion of graphing and interpretation exercises, selected readings, assignments and discussions from Anderson, David. Economics by Example. New York: Worth, 2007.

    There will be 9 Tests during this course (8 Section Exams and a Graphing Exam), as well as various quizzes as necessary.  It is expected that all students will take the AP Macroeconomics exam scheduled in May. There will be review sessions.  Review will include test taking strategy and practice tests as well as content review.

    Course Outline

    % of AP Test               Topic                                                                                

    Unit 1                                                                                     

    8-12% of AP               Basic Economic Concepts                                                                                                              

                            Section 1   

                                        Module 1: The Study of Economics

                                        Module 2: Introduction to Macroeconomics

                                        Module 3: The Production Possibilities Curve Model    

                                        Module 4: Comparative Advantage and Trade

                            Section 2                                                                                                                    

                                        Module 5: Introduction to Demand

                                        Module 6: Supply and Equilibrium

                                        Module 7: Changes in Equilibrium

                                        Module 8: Price Controls (If we have Time)

    Unit 2                                                                                     

    12-16% of AP             Measurement of Economic Performance                                        

                            Section 3                                                                                                                    

                                        Module 10: The Circular Flow and GDP

                                        Module 11: Interpreting RGDP

                                        Module 12: The Meaning and Calculation of Unemployment

                                        Module 13: The Causes and Categories of Unemployment

                                        Module 14: Inflation: An Overview

                                        Module 15: The Measurement and Calculation of Inflation

    Unit 3                                                                                                 

    10-15% of AP             National Income and Price Determination

                            Section 4                                                                                                                    

                                        Module 16: Income and Expenditures

                                        Module 17: AD: Introduction and Determinants

                                        Module 18: AS: Introduction and Determinants

                                        Module 19: Equilibrium in the AD/AS Model

                                        Module 20: Economic Policy and the AD/AS Model

                                        Module 21: Fiscal Policy and the Multiplier

    Unit 4                                                                                                 

    15-20% of AP             Financial Sector                                            

                            Section 5                                                                                                                    

                                        Module 22: Saving, Investment and the Financial System                      

                                        Module 23: The Definition and Measurement of Money

                                        Module 24: The Time Value of Money

                                        Module 25: Banking and Money Creation

                                        Module 26: The Fed. History and Structure

                                        Module 27: The Fed. Monetary Policy

                                        Module 28: The Money Market

                                        Module 29: The Market for Loanable Funds

    Unit 5                                                                                                 

    20-30% of AP             Inflation, Unemployment and Stabilization Policies

                            Section 6                                                                                                                    

                                        Module 30: Long Run Implications of Fiscal Policy: Deficits and the Public Debt

                                        Module 31: Monetary Policy and the interest Rate

                                        Module 32: Money, Output and Prices in the Long Run

                                        Module 33: Types of Inflation, Disinflation and Deflation

                                        Module 34: Inflation and Unemployment: The Phillips Curve

                                        Module 35: History and Alternative Views of Macroeconomics

                                        Module 36: The Modern Macroeconomic Consensus

    Unit 6                                                                                                 

    5-10% of AP               Economic Growth and Productivity              

                            Section 7                                                                                                                    

                                        Module 37: Long Run Economic Growth

                                        Module 38: Productivity and Growth

                                        Module 39: Growth Policy: Why Economic Growth Rates Differ

                                        Module 40: Economic Growth in Macroeconomic Models

    Unit 7

    10-15% of AP             Open Economy: International Trade and Finance

                            Section 8                                                                                                                    

                                        Module 41: Capital Flows and the Balance of Payments

                                        Module 42: The Foreign Exchange Market

                                        Module 43: Exchange Rate Policy                                                        

                                        Module 44: Exchange Rates and Macroeconomic Policy

                                        Module 45: Putting it All Together