AP Macroeconomics

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Advanced Placement Macroeconomics (also known as AP Macroeconomics, AP Macro, APMa, or simply Macro) is an Advanced Placement macroeconomics course and exam offered by the College Board.

Study begins with fundamental economic concepts such as scarcity, opportunity costs, production possibilities, specialization, comparative advantage, demand, supply, and price determination.

Major topics include measurement of economic performance, national income and price determination, fiscal and monetary policy, and international economics and growth. AP Macroeconomics is frequently taught in conjunction with (and, in some cases, in the same year as) AP Microeconomics, although more students take the former.

Topic Outline[edit]

Basic Economic Concepts (8–12%)[edit]

Measurement of Economic Performance (12–16%)[edit]

National Income and Price Determination (10–15%)[edit]

Financial Sector (15–20%)[edit]

Financial sector:

Inflation, Unemployment, and Stabilization Policies (20–30%)[edit]

Economic Growth and Productivity (5–10%)[edit]

Open Economy: International Trade and Finance (10–15%)[edit]

Exam[edit]

Multiple Choice (2/3 of Score)[edit]

  • 60 Questions in 70 Minutes
  • Reflects Topic Outline Above
  • Example: 3-6 Questions on Economic Growth.

Free Response (1/3 of Score)[edit]

  • 3 Questions in 50 Minutes

Score Distribution[edit]

The exam was first held in 1989, along with Microeconomics. Grade distributions since 2008 are as follows:

Score 2011 2012 2013 2014 2015[1] 2016[2] 2017[3] 2018[4]
5 13.1% 13.9% 14.6% 16.1% 13.8% 16.1% 16.4% 18.2%
4 24.0% 23.9% 23.2% 23.2% 22.0% 23.4% 23.1% 22.5%
3 16.7% 18.0% 16.6% 18.5% 17.3% 16.2% 17.2% 16.7%
2 18.2% 17.8% 19.1% 17.5% 17.5% 17.5% 16.2% 17.3%
1 28.0% 26.3% 26.6% 24.7% 29.4% 26.8% 27.1% 25.3%
Mean 2.76 2.81 2.80 2.89 2.73 2.85 2.86
Number of Students 90,134[5] 99,903[6] 108,219[7] 117,209[8] 126,267 138,638 141,649[9]

Criticism[edit]

Tawni Ferrarini, James Gwartney, and John Morton have argued that the examination does not adequately cover recent advances in the field, writing that "[t]he AP macroeconomics exam and resources largely reflect the simplistic Keynesian view from the 1960s and 1970s."[10]

See also[edit]

References[edit]

  1. ^ Registration, Total. "2015 AP Exam Score Distributions".
  2. ^ Total Registration. "2016 AP Exam Score Distributions". www.totalregistration.net. Retrieved 2016-07-01.
  3. ^ Registration, Total. "2017 AP Exam Score Distributions". www.totalregistration.net. Retrieved 2017-06-11.
  4. ^ Total Registration (2018-06-11). "2018 AP Exam Score Distributions". www.TotalRegistration.net.
  5. ^ http://apcentral.collegeboard.com/apc/public/repository/2011_MacroEconomics_Score_Dist.pdf
  6. ^ http://apcentral.collegeboard.com/apc/public/repository/ap12_econ_macro_ScoringDist.pdf
  7. ^ http://media.collegeboard.com/digitalServices/pdf/ap/apcentral/ap13_econ_macro_ScoringDist.pdf
  8. ^ http://media.collegeboard.com/digitalServices/pdf/ap/apcentral/ap14-macroeconomics-score-dist.pdf
  9. ^ https://secure-media.collegeboard.org/digitalServices/pdf/research/2017/Student-Score-Distributions-2017.pdf
  10. ^ Tawni H. Ferrarini, James D. Gwartney, and John S. Morton, "Advanced Placement Economics: The Good, the Bad, and the Ugly," Econ Journal Watch 8(1) (January 2011), 67. [1]