AP Macroeconomicsi
Text: Ray, Margaret, and David Anderson. Krugman's Macroeconomics for AP. New York: Worth
Publishers/BFW, 2011.
Video Series: Econ U$A series with Discussion
Class Activities/Work:
 Completion of graphing and interpretation exercises in Morton, John S. Advanced Placement
Economics, 3rd ed. New York, NY: National Council on Economic Education, 2003 and additional
exercises from the NCEE and other sources as necessary.
 Selected readings, assignments and discussions from Anderson, David. Economics by Example. New
York: Worth, 2007.
Course Description:
“The purpose of this AP course in Macroeconomics is to give students a thorough understanding of the
principles of economics that apply to an economic system as a whole. Such a course places particular emphasis
on the study of national income and price-level determination, and also develops students' familiarity with
economic performance measures, the financial sector, stabilization policies, economic growth, and international
economics.” (AP Course Description Manual 2010)
Course Outline
% of AP Test
Unit 1
8-12% of AP
Unit 2
12-16% of AP
Unit 3
10-15% of AP
Unit 4
Topic
Morton /(Anderson) Activities
Basic Economic Concepts
Section 1
Module 1: The Study of Economics
Module 2: Introduction to Macroeconomics
Module 3: The Production Possibilities Curve Model
Module 4: Comparative Advantage and Trade
Section 2
Module 5: Introduction to Demand
Module 6: Supply and Equilibrium
Module 7: Changes in Equilibrium
Module 8: Price Controls (If we have Time)
(Ch. 1)
17
1 and 2 Part A
2 Part B, 49, 50
(Ch. 3)
3 and 4
5 and 6
7
Measurement of Economic Performance
Section 3
Module 10: The Circular Flow and GDP
Module 11: Interpreting RGDP
Module 12: The Meaning and Calculation of Unemployment
Module 13: The Causes and Categories of Unemployment
Module 14: Inflation: An Overview
Module 15: The Measurement and Calculation of Inflation
(Ch. 21)
10 and 12
11 Part C
11 Part A
16
11 Part B
13
National Income and Price Determination
Section 4
Module 16: Income and Expenditures
Module 17: AD: Introduction and Determinants
Module 18: AS: Introduction and Determinants
Module 19: Equilibrium in the AD/AS Model
Module 20: Economic Policy and the AD/AS Model
Module 21: Fiscal Policy and the Multiplier
(Ch. 25)
20 and 21
23
24 and 29
25 and 28
27, 30, 43 and 45
31
15-20% of AP
Unit 5
20-30% of AP
Unit 6
5-10% of AP
Unit 7
10-15% of AP


Financial Sector
Section 5
Module 22: Saving, Investment and the Financial System
Module 23: The Definition and Measurement of Money
Module 24: The Time Value of Money
Module 25: Banking and Money Creation
Module 26: The Fed. History and Structure
Module 27: The Fed. Monetary Policy
Module 28: The Money Market
Module 29: The Market for Loanable Funds
Inflation, Unemployment and Stabilization Policies
Section 6
Module 30: Long Run Implications of Fiscal Policy:
Deficits and the Public Debt
Module 31: Monetary Policy and the interest Rate
Module 32: Money, Output and Prices in the Long Run
Module 33: Types of Inflation, Disinflation and Deflation
Module 34: Inflation and Unemployment: The Phillips Curve
Module 35: History and Alternative Views of Macroeconomics
Module 36: The Modern Macroeconomic Consensus
Economic Growth and Productivity
Section 7
Module 37: Long Run Economic Growth
Module 38: Productivity and Growth
Module 39: Growth Policy: Why Economic Growth Rates Differ
Module 40: Economic Growth in Macroeconomic Models
Open Economy: International Trade and Finance
Section 8
Module 41: Capital Flows and the Balance of Payments
Module 42: The Foreign Exchange Market
Module 43: Exchange Rate Policy
Module 44: Exchange Rates and Macroeconomic Policy
Module 45: Putting it All Together
(Ch. 22)
34 and 35
37
38
40
39
41 and 44
(Ch. 26)
43
42
46
48
(Ch. 28)
47
(Ch. 27)
51 and 52
53
54 and 55
There will be 9 Tests during this course (8 Section Exams and a Graphing Exam), as well as various quizzes as
necessary.
It is expected that all students will take the AP Macroeconomics exam scheduled in May. There will be
review sessions. It is expected that students will be at a minimum of 65% of these review days. Review will
include test taking strategy and practice tests as well as content review.
i
This is an approved syllabus used for an authorized AP Macroeconomics course, as defined by the College Board:
Approved Syllabus: An approved syllabus is one that has been reviewed by a certified AP Course Audit reviewer and
found to include evidence that all AP curricular requirements are addressed.
Authorized Course: A course with a finalized Course Audit form and an approved syllabus is authorized to use the “AP”
designation on student transcripts.
Course Audit Form: This online form lists all curricular and resource requirements of the AP course. Through AP Course
Audit accounts, it is completed by the teacher, submitted for school administrator approval, and completed and finalized
by the school administrator.