Advanced Placement Microeconomics (AP Microeconomics) is a course for students interested in college-level work in microeconomics and/or gaining advanced standing in college. The course begins with a study of fundamental economic concepts such as scarcity, opportunity costs, production possibilities, specialization, and comparative advantage. Major topics include the nature of functions of product markets; factor markets; and efficiency, equity, and the role of government.
Topics outline and distribution of topics
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- Basic Economic Concepts (8-14%)
- The Nature and Functions of Product Markets (55-70%)
- Factor Markets (10-18%)
- Market Failure and the Role of Government (12-18%)
The exam
- Multiple Choice [70 minutes, weighted 2/3 (66.7%) of the total exam score]
- Free-Response [10 minutes of planning then 50 minutes of writing with one longer free-response question and two shorter ones, weighted 1/3 (33.3%) of the total exam score]
Grade distribution
74,049 students took the AP Microeconomics exam in 2014.
The grade distributions since 2008 are as follows:
See also
- AP Macroeconomics
- Microeconomics
- Economics
- Glossary of economics
External links
- AP: Microeconomics
