AP Microeconomics
Have you ever wondered why prices fluctuate for online retailers depending on the time and day? Or why people say, “time is money”? In AP Microeconomics, you’ll explore the answers to these questions as you learn the principles of economics that govern the actions of individuals and businesses. You’ll also explore concepts such as supply and demand, elasticity, and market structures to gain a deeper understanding of how economic decisions shape our world.
Unit 1 Basic Economic Concepts
You’ll study the foundations of microeconomic thinking, including how to evaluate decisions based on constraints and trade-offs and make rational economic choices.
Unit 2 Supply and Demand
You’ll learn the basis for understanding how markets work with an introduction to the supply and demand model.
Unit 3 Production, Cost, and the Perfect Competition Model
You’ll explore the factors that drive the behavior of companies and learn about the perfect competition model.
Unit 4 Imperfect Competition
You’ll learn how imperfectly competitive markets work and how game theory comes into play in economic models.
Unit 5 Factor Markets
You’ll learn how concepts such as supply and demand and marginal decision-making apply in the context of factor markets.
Unit 6 Market Failure and the Role of Government
You’ll examine the conditions under which markets may fail and the effects of government intervention in markets.