AP Macroeconomics 

Description

You have been called upon to assist the leader of the Macro Islands who is running for reelection next year. The economy is in shambles, and you need to come up with some feasible solutions. This will not only help the people of the Macro Islands but will also ensure a victory for your employer. You were hired over the Internet and received a first class ticket to the Macro Islands where you can learn first hand about the situation. You arrive at Pineapple Airport in the middle of the day and are met by a man with a briefcase who is holding a sign with your name on it. You approach the man and introduce yourself. "I'm Mr. Scarcity," he says. "I'll be your guide as you learn about the economic situation of the islands. You need to learn everything you can about both macroeconomics and our Macro Islands for your presentation to our island leader in May." (Your AP Exam.) 

Major Topics and Concepts
 

Overview of Advanced Placement
Economic Basics
Scarcity and Opportunity Costs
Production Possibilities Curves
Absolute and Comparative Advantage
Demand
Supply
Equilibrium
Government Impact
Circular Flow
GDP
Other Measures of National Income
Inflation and Price Indices
Business Cycle
Unemployment
Classical Economics
Aggregate Supply
Aggregate Demand
Propensities and Multipliers
Equilibrium
Economic Growth
The AE Model
Understanding the AD/AS Model
Comparative Advantage and International Trade
Balance of Payments
Exchange Rates
Graphing Foreign Exchange
International Value of Currency
Trade Barriers
Understanding International Trade and Finance
The Money Supply
Loanable Funds Market
Equation of Exchange
Money Creation
Fiscal Policy
Automatic Stabilizers
Debt vs. Deficit Interview
Fiscal Policy and Interest Rates
The Federal Reserve System
Monetary Policy
Interest Rates and the Impact on Financial Capital
Phillips Curve
Modern Theories
Understanding Policies
Guided Review