Advanced Placement (AP) Macroeconomics Course
The College Board
GK Consultants Macroeconomics Course
What does this course mean for you?
If you are looking to tap into the world of economics, then this course is the ideal means of entry. You will gain a thorough understanding of economics, including all relative concepts and terminology in order to get you off to the best possible start with your new career path.
About our Macroeconomics Course
In this Macroeconomics course, you will explore the various principles of economics which apply to an economic system as a whole. You will use graphs, charts, and data to analyse and describe various economic concepts and the affect that they have on a given market.
The skills you will gain:
- The ability to define economic principles and models
- The ability to cohesively explain given economic outcomes
- Learn how to determine outcomes of specific economic situations
- Gain the ability to properly model economic situations using graphs and various other visual representations
- This is an introductory college level equivalent literature course
Recommended course prerequisites
In other words, everyone is welcome to take this course and those who pass it will have a college course equivalent.
About the Macroeconomics Units
All of the course content that is outlined below has been organised into the way in which it is most commonly taught. That said, your teacher may choose to organise the course material differently based on various preferences and local priorities. In any case, you will learn everything that is listed in the unit information below…
Unit 1 – Basic Economic Concepts
In unit 1 you will start the course off with a comprehensive introduction to economic concepts, the various principles, and a number of models that serve as a foundation from which the further study and exploration of macroeconomics will be made possible.
- Understanding scarcity
- Learning opportunity cost and the Production Possibilities Curve
- Defining comparative advantage and gains from trade
- Exploring and understanding supply and demand
- What is market equilibrium, disequilibrium, and changes in equilibrium?
This unit contributes 5%–10% of your final exam score.
Unit 2 – Economic Indicators and the Business Cycle
In unit 2 you will begin to look at the way in which economic phenomena such as employment and inflation can be accurately measured.
- Understanding the circular flow and GDP
- Exploring unemployment and the factors involved
- Defining price indices and inflation
- Identifying real vs. nominal GDP
- Exploring and understanding various business cycles and their economic effects
This unit will contribute 12%–17% of your final exam score.
Unit 3 – National Income and Price Determination
In unit 3 you begin to explore how changes in aggregate spending and production, economic fluctuations, and policy actions can affect national income, inflation, and unemployment.
- What is aggregate demand?
- What does short-run and long-run aggregate supply mean?
- Understand and explore equilibrium and changes in the Aggregate Demand-Aggregate Supply Model
- Defining and understanding the fiscal policy
This unit contributes 17%–27% of your final exam score.
Unit 4 – the Financial Sector
Next up you will begin to examine the financial sector and explain how monetary policy is implemented and transmitted through the banking system, and how this affects the economy.
- Exploring financial assets
- Understanding the definition, measurement, and functions of money in an economy
- Working through banking and the expansion of the money supply
- Defining monetary policy
This will contribute 18%–23% of your final exam score.
Unit 5 – Long-Run Consequences of Stabilization Policies
Upon starting unit 5 you will spend a bit more time exploring the effects of fiscal and monetary policy actions and then examine the concept of economic growth.
- What is the Phillips Curve?
- Exploring money growth and inflation
- Define and understand government deficits and national debt
- What is crowding out?
- An in-depth look at economic growth
This unit will contribute 20%–30% of your final overall exam score.
Unit 6 – Open Economy, International Trade and Finance
In this final unit you will explore the concept of an open economy in which countries interact with the rest of the world via product and financial markets and how this simulates growth.
- Exploring the balance of payments accounts
- Understanding exchange rates and the foreign exchange market
- Identifying the effects of changes in policies and economic conditions on the foreign exchange market
- Defining changes in the foreign exchange market and net exports
- Understanding real interest rates, international capital flows, and their effects on the global market
This unit contributes 10%–13% of your exam score.
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