AP Macroeconomics

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About the Course

Important: We're now offering free, live AP online classes and review lessons for AP Macroeconomics to help you prepare for your exam even if your school is closed due to COVID-19. See the course schedule or browse the YouTube playlist. We'll also offer at-home testing for 2020 AP Exams. Note that any related adjustments to 2020 AP Exams, such as length or content covered, may not be reflected on all AP Students pages.

Explore the principles of economics that apply to an economic system as a whole. You’ll use graphs, charts, and data to analyze, describe, and explain economic concepts.

Skills You'll Learn

  • Define economic principles and models

  • Explain given economic outcomes

  • Determine outcomes of specific economic situations

  • Model economic situations using graphs or visual representations

Equivalency and Prerequisites

College Course Equivalent

A one-semester, introductory college course in macroeconomics.

Recommended Prerequisites


Exam Dates

  • Thu, May 21, 2020,
    4 PM ET

    AP Macroeconomics Exam

    May 21, 2020 is the updated date for the AP Macroeconomics Exam.

About the Units

The course content outlined below is organized into commonly taught units of study that provide one possible sequence for the course. Your teacher may choose to organize the course content differently based on local priorities and preferences.

Course Content

You’ll start the course with an introduction to economic concepts, principles, and models that will serve as a foundation for studying macroeconomics.

Topics may include:

  • Scarcity
  • Opportunity cost and the Production Possibilities Curve
  • Comparative advantage and gains from trade
  • Supply and demand
  • Market equilibrium, disequilibrium, and changes in equilibrium

On The Exam

5%–10% of exam score

You’ll look at how economic phenomena such as employment and inflation are measured.

Topics may include:

  • The circular flow and GDP
  • Unemployment
  • Price indices and inflation
  • Real vs. nominal GDP
  • Business cycles

On The Exam

12%–17% of exam score

You’ll explore how changes in aggregate spending and production, economic fluctuations, and policy actions affect national income, unemployment, and inflation.

Topics may include:

  • Aggregate demand
  • Short-run and long-run aggregate supply
  • Equilibrium and changes in the Aggregate Demand-Aggregate Supply Model
  • Fiscal policy

On The Exam

17%–27% of exam score

You’ll examine the financial sector and explain how monetary policy is implemented and transmitted through the banking system.

Topics may include:

  • Financial assets
  • Definition, measurement, and functions of money
  • Banking and the expansion of the money supply
  • Monetary policy

On The Exam

18%–23% of exam score

You’ll spend more time exploring the effects of fiscal and monetary policy actions and examine the concept of economic growth.

Topics may include:

  • The Phillips Curve
  • Money growth and inflation
  • Government deficits and national debt
  • Crowding out
  • Economic growth

On The Exam

20%–30% of exam score

You’ll examine the concept of an open economy in which a country interacts with the rest of the world through product and financial markets.

Topics may include:

  • Balance of payments accounts
  • Exchange rates and the foreign exchange market
  • Effects of changes in policies and economic conditions on the foreign exchange market
  • Changes in the foreign exchange market and net exports
  • Real interest rates and international capital flows

On The Exam

10%–13% of exam score

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See Where AP Can Take You

AP Macroeconomics can lead to a wide range of careers and college majors

Career Areas 66
Majors 22

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