AP MICROECONOMICS
Overview
By taking on the role of a leader at a fictitious company, you will learn fundamental economic concepts, including scarcity, opportunity costs and trade-offs, productivity, economic systems and institutions, exchange, money, and interdependence.
Major Topics and Concepts
Basic Economic Concepts
- Scarcity
- Resource Allocation and Economic Systems
- Production Possibilities Curve
- Comparitive Advantage and Trade
- Cost-Benefit Analysis
- Marginal Analysis and Consumer Choice
Supply and Demand
- Price Elasticity of Demand
- Price Elasticity of Supply
- Market Equilibrium and Consumer and Producer Surplus
- Market Disequilibrium and Changes in Equilibrium
- The Effects of Government Intervention in Markets
- International Trade and Public Policy
Production, Cost, and the Perfect Competition Model
- The Production Function
- Short-Run and Long-Run Production Costs
- Types of Profit
- Profit Maximization
- Firms’ Short-Run and Long-Run Decisions
- Perfect Competition
Imperfect Competition
- Basics of Imperfectly Competitive Markets
- Monopoly
- Price Discrimination
- Monopolistic Competition
- Oligopoly and Game Theory
Factor Markets
- Changes in Factor Demand and Factor Supply
- Profit-Maximizing Behavior in Perfectly Competitive Factor Markets
- Monopsonistic Markets
Market Failure and the Role of Government
- Socially Efficient and Inefficient Market Outcomes
- Externalities
- Public and Private Goods
- The Effects of Government Intervention in Different Market Structures
- Inequality
HONORS
- Identify art, art tools, art rules, and correct behavior
- Elements of art: line, shape, color, and space
- Identify different elements of art and how they are used in artwork
- Types of lines and shapes
- Pigments, hue, intensity, and value
- Contrast and scale
Fee Details
R 10,166.66
Grade 10, 11, 12
Annual
The AP Macroeconomics Course and Exam Description is a free material provided by College Board that outlines the skills and content taught within the AP Macroeconomics course.
Algebra 1 Recommended
