The first section contains 60 multiple-choice questions. On the exam, you'll be given 60 minutes (including a 10 minute reading period) to answer 3 questions, one long question and two short questions asking you to calculate values, draw graphs, predict the effects of different economic policies, and make policy actions based on whether the economy is in a recessionary gap or inflationary gap. November 18, 2020, Welcome to AP Macroeconomics! There is a ten minutes planning time that is suggested before answering a free response question as well. AP Macro is not a hard course. *ap® and advanced placement® are registered trademarks of the college board, which was not involved in the production of, and does not endorse, this product. However, for AP Biology, our teacher assigned very tough tests and lots of homework, including making several flashcards for every single textbook chapter. Let’s go into more detail. There are a ton of terms, graphs, models, theories, and so much more you will be required to recall in a relatively short test. The AP Macroeconomics exam lasts a total of 2 hours and 10 minutes, and is designed to test students on fundamental macroeconomic theory, concepts and policies. GDP, aggregate supply and demand, monetary policy - these are just a few of the terms that you will fully understand by the time you finish AP Macroeconomics. In return, you can answer questions that you may know but your peers will not. The macroeconomics exam is no different. Compared to other exams, AP® Macro is in the middle of the road – it is neither difficult nor easy. The order of these sections can help in identifying what topics need more concentration. The most important part of this definition is not necessarily "transfer of wealth," but rather "production [and] consumption.". While organization is basically a requirement for any test, the macroeconomics exam is especially important given the reliance on graphs and the extensive list of topics related to the test’s content. While teaching yourself an entire AP class won't be easy, it is entirely doable. The AP® Macroeconomics test is not necessarily a walk in the park, but it is an exam with concepts that you can grasp without prior knowledge of economics. You may see something like this in a business class, but hardly in economics as it relates to revenue and profit. Taking practice tests will also help you develop the economics jargon that is used in answering a question. It clearly lays out the course content and describes the exam and AP Program in general. The first and foremost answer to the question "what is economics" is "the study of money." Get the college credit you want while obtaining the high school credits you need. Lucky for you, AP Macro is one of the easier AP subjects to self-study. You may see something like this in a business class, but hardly in economics as it relates to revenue and profit. A score of 3 is the most commonly accepted AP® Macro score for granting college credit. and how to adjust certain indicators to expand or contract the economy. Furthermore, AP Macroeconomics, despite being called an "easy AP," is still an AP class. However, the number of resources provided by Quizlet. AP students are expected to write, read, comprehend, and communicate at a freshman college level. AP Macroeconomics is the study of economics on a global scale (countries, the world, etc) and AP Microeconomics is the study of economic systems on a smaller scale (individuals, groups, companies, etc). The content of the exam can be difficult due to its wide range of subjects and their varying complexity. Surprisingly, this year’s scores had a lower rate of 3’s than 4’s. When hearing anything relating to economics, a student automatically associates the subject with daunting long form formulas that … Due to the COVID-19 coronavirus pandemic, AP tests will now be held remotely, and information about how that will work is still evolving. The general topics of these sections mainly have to do with monetary policy and foreign exchange, which determines the amount of money the government prints and overall money supply. Explain. AP Macroeconomics Course and Exam Description This is the core document for the course. This pass rate is higher than the comparatively difficult Physics 1 exam, which had a rate of 39.2%, and lower than the 89% of the relatively easy Spanish Language exam. If you’re a senior taking this exam, you are probably moving into your first election in which you can vote. These skills are not just useful for this exam, but also any other exam you take along with macro. This exam can be difficult for some people, but more likely than not you can achieve a passing score with a bit of studying. There are a few reasons that AP Macroeconomics might not be the class for you. The second section is made up of three free response questions. For example, all subjects will depend on your knowledge of basic economics. Compared to classes like AP Calculus or AP Lang, in which you've taken math and English classes in the past, the majority of students have never taken economics before. If you are looking to learn a subject similar to AP Macroeconomics, tap into the nation’s largest community of private tutors. How hard is AP Macroeconomics? There is a lot of information and it gets delivered pretty fast but if you pay attention and study it turns out not to be that bad. Even when a graph is not required, it might be helpful to draw a graph anyway to be able to grasp the answer to a question. These parts are independently graded. The reason for this higher required score is most likely because macroeconomics is such a wide reaching area of study. Instead of studying quantities and prices like in microeconomics, you'll study GDP and inflation—measures of quantity and price. Learn how your comment data is processed. Economic systems 5. The course provides particular emphasis on the function of consumers and producers within the economic system. The AP® Macro exam is straightforward in its structure and purpose. You got this . Examples of the kind of topics studied in macroeconomics would include the gross domestic product of a country, or the economics of imports to and exports from a country. An AP® Macroeconomics review is especially important for those who are taking the test late. First of all, we should take a look at the actual statistics associated with the exam itself to determine its complexity. Are AP Macro Econ classes hard? In addition to organization, you should have a grasp. (a) Draw a graph that is correctly labeled with both the long-run Phillips curve and short-run Phillips curve and label the correct long-run equilibrium as P. (b) If policy actions are taken to improve employment levels, will the short-run Phillips curve shift to the right (upward), shift to the left (downward), or remain the same in the short-run? PDF; 4.24 MB; See Where AP Can Take You. AP Macroeconomics is a course that doesn't only teach you about economics, but also about how to think and problem-solve contrary to most classes. Economic Growth and Productivity: 5%-10%, 7. International Economics, Trade, and Finance: 10%-15%. (c) If the Federal Reserve Bank wants to lower unemployment, what monetary policy should it use to exact those changes? The first question is generally the longest and needs the most dedicated time; the other two usually have to do with drawing a graph and answering a simpler question than the first. Whether you're about to take your exam or getting ready to take AP Economics for the first time, AP Macro may seem super intimidating. Money and income are two different things, for example. Macroeconomics is probably one of the few AP® exams that are directly applicable to real life. These categories are based on what should be learned in a typical high school macroeconomics course. Developing a clear understanding of economics will help you determine who you want to support politically, based on what benefits are reaped from whatever policies are being considered. These are just three practical applications of learning macroeconomics. Soon the Fiveable Community will be on a totally new platform where you can share, save, and organize your learning links and lead study groups among other students!. 1,000s of Fiveable Community students are already finding study help, meeting new friends, and sharing tons of opportunities among other students around the world! Many people associate learning economics with a slew of math and graphs and while this is a lot of the content, you will be able to understand how the world works and how an event affects everyone. Get an overview of AP Exams, including exam timing and … According to the CollegeBoard’s official Twitter page, the 2016 AP® Macroeconomics breakdown is as follows: As can be seen in the chart, the exam has a pass rate of about 55.7% when taking scores of 3,4, and 5 into account, or 73.2% if the passing grade of 2 is added in, although most universities do not accept a score of 2 for college credit. Stay up to date with the latest information on test dates, AP online review, and what this means for you with our AP COVID-19 FAQ article. As previously stated, drawing a legible graph makes the difference between receiving credit for a question or none at all. There is a huge range of study guides on the internet, some of which are ineffectual while others are probably as good as taking a class. Is AP Economics the right class for you? Students often ask me the question: "Which class is more difficult: AP Macroeconomics or AP Microeconomics?" The former of the two will explore macro measures like GDP, unemployment, and inflation and the relationship between these 3 and the business cycle. Do not take AP Macro if you're looking simply for a GPA boost. Everything in economics comes back to, There are two broad fields of economics, those being, Specifically, the content in AP Macro breaks down into two broad categories: how to. Yet a top score on the AP exam requires more than knowing the material. Source: Introduction to the Production Possibilities Curve (PPC), Unit 3 - National Income and Price Determination, 3.5: Equilibrium in Aggregate Demand-Aggregate Supply (AD-AS) Model, 3.6: Changes in the AD-AS Model in the Short Run, Practice Free Response Question (FRQ) - 2016 # 2, Recessionary Gap to Full Equilibrium via Expansionary Monetary Policy, Inflationary Gap to Full Equilibrium via Contractionary Monetary Policy, Determinants for the Supply of Loanable Funds, Unit 5: Long-Run Consequences of Stabilization Policies, 5.1: Fiscal and Monetary Policy Actions in the Short-Run, Unit 6: Open-Economy - International Trade and Finance, 6.4: Effect of Changes in Policies and Economic Conditions on the Foreign Exchange Market, 6.5: Changes in the Foreign Exchange Market and Net Exports. Time management is key for the multiple choice questions, where you have about a minute to answer each question. Major topics include measurement of economic performance, national income and price determination, fiscal and monetary policy, and intern… Let’s go into more detail. Economics is the study of choices. Source(s): I took AP economics and I received a 3 on the AP Micro exam and a 4 on the AP Macro exam. The "study" of money is closer to the field of finance. You should participate in forums with other students that are taking the exam. This is the regularly scheduled date for the AP Macroeconomics Exam. , ⏱️ Thank you for your patience! Albert.io offers the best practice questions for high-stakes exams and core courses spanning grades 6-12. The questions are not organized by difficulty or theme. The good news about these topics is their propensity to build on other topics. The AP Macroeconomics Exam includes two sections. This means some level of expertise is necessary to pass the exam and gain credit to get out of the college-level economics course. Get 1-to-1 learning help through online lessons. Economics is relevant to … This time should be used wisely to properly organize your answer. CLEP exams had a 68% pass rate while AP … 0 0. Economics answers questions like "how much should we produce?" I actually thought I did better on the Macro then the Micro but I guess not. Production possibilities curve 3. Compared to other exams, AP® Macro is in the middle of the road – it is neither difficult nor easy. After taking the above into consideration, you may be wondering how to move on and take the exam. The free response questions will more than likely ask you to draw multiple graphs. Microeconomics is a branch of economics that studies the behavior of individuals and firms in making decisions regarding the allocation of limited resources which is contrast to macroeconomics. Is AP Macroeconomics Hard? This skill is as relevant online as it is in class. Welcome to AP® Macroeconomics! AP Macroeconomics Exam. Don't miss out! Students should have a sound understanding of economic theory similar to that achieved after … AP Macroeconomics can lead to a wide range of careers and college majors. Your teacher created the curriculum of the class according to CollegeBoard standards that was subject to CollegeBoard review before approval. When you have acquired the necessary knowledge to be able to answer questions on the exam, you have to hone your test taking skills to be able to answer to your best ability. Scarcity, choice, and opportunity cost 2. Usually the first question will take about 30 minutes and the last two about 15 minutes each. The hardest part of AP Macro is that the material is not something you typically have learned before. AP Macroeconomics is the most popular AP Econ course taken by students around the country. Consider that the United States economy is currently in a long-run equilibrium with the actual unemployment rate above the natural rate of unemployment. I personally took both Micro and Macro in the same year and we were able to cover Macro in a like 3 months. the instructor with the aid of no skill teaches and all all and sundry ever does is communicate, so I sleep for noticeably plenty the achieved type, and that i although have the utmost grade contained interior the class. The content in AP Macro will be, for the most part, brand new to you. But I took it as a Senior didn't take it seriously, and I got a C. It is hard you do need to study because there a concepts you have to know..you can't just bs through it. This is something unique within the list of AP® exams. Because of this, if you don't care about the class, you're bound not to enjoy it. Image Source: Wikimedia Commons Macroeconomics is one of the dreaded courses in a high school career. 70 minutes is allocated to this section and it is worth two-thirds of the final grade. This can help structure your study around certain topics more than others. 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