AP Macroeconomics

Unit 1 – Intro to Economics

  1. Scarcity and Opportunity Cost
  2. Economic Models and Assumptions
  3. Production Possibilities Curve (PPC)
  4. Economic Growth (Part 1)
  5. Absolute Advantage and Comparative Advantage
  6. Specialization and Trade
  7. Economic Systems (Command vs. Market)
  8. Overview of Market Concepts
  9. Free Response Review Videos

Unit 2 – Measuring Economic Performance

  1. Circular Flow of Income and Products
  2. Unemployment
  3. Inflation
  4. Gross Domestic Product (GDP)
  5. Economic Growth (Part 2)
  6. Business Cycle
  7. Free Response Review Videos

Unit 3 – Classical vs. Keynesian Economics

  1. Classical vs. Keynesian Economics
  2. Propensities
  3. Multipliers (Investment, Government Spending, Tax)
  4. Free Response Questions (FRQs)

Unit 4 – The Aggregate Supply and Aggregate Demand Model

  1. Aggregate Demand
  2. Crowding Out
  3. Aggregate Supply
  4. Stagflation
  5. Aggregate Equilibrium
  6. Long-Run Aggregate Supply (LRAS)
  7. Economic Growth (Part 3)
  8. Self-Correction (Long-Run)
  9. Free Response Questions (FRQs)

Unit 5 – Monetary Policy and the Money Market

  1. Money and Other Financial Assets
  2. Banking and the Federal Reserve System
  3. Money Market
  4. Monetary Policy
  5. The Money Multiplier
  6. Money Market and AD-AS
  7. Quantity Theory of Money
  8. Free Response Questions (FRQs)

Unit 6 – Fiscal Policy, Loanable Funds Market, and the Phillips Curve

  1. Fiscal Policy
  2. Budget Deficit vs. National Debt
  3. Loanable Funds Market
  4. Policy Mix
  5. Phillips Curve
  6. Rational Expectations
  7. Free Response Review Videos

Unit 7 – Open Economy: International Trade and Finance

  1. Trade Balance and Trade Restrictions
  2. Balance of Payments Accounts
  3. Foreign Exchange Market
  4. Free Response Review Videos

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