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AP - History and Social Sciences

AP Macroeconomics

AP Macroeconomics

AP Microeconomics

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.

College Board

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.

Comparative advantage and gains from tradeCost-benefit analysisMarginal analysis and consumer choiceResource allocation and economic systemsScarcityThe Production Possibilities Curve

Unit 2 Supply and Demand

You’ll learn the basis for understanding how markets work with an introduction to the supply and demand model.

DemandElasticityInternational trade and public policyMarket equilibrium, disequilibrium, and changes in equilibriumSupplyThe effects of government intervention in markets

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.

Perfect competitionProfit maximizationShort- and long-run production costsThe production functionTypes of profit

Unit 4 Imperfect Competition

You’ll learn how imperfectly competitive markets work and how game theory comes into play in economic models.

Monopolistic competitionMonopolyOligopoly and game theoryPrice discrimination

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.

Changes in factor demand and factor supplyIntroduction to factor marketsMonopsonistic marketsProfit-maximizing behavior in perfectly competitive 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.

ExternalitiesIncome and wealth inequalityPublic and private goodsSocially efficient and inefficient market outcomesThe effects of government intervention in different market structures