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AP Macroeconomics

AP Macroeconomics is a college-level course that introduces students to the principles of macroeconomics. The course covers topics such as economic, inflation, unemployment, international trade, and fiscal and monetary policy. Students will learn how to analyze economic data and apply economic concepts to real-world situations. The course culminates in an AP exam that can earn students college credit.

Tentative schedule: 32 classes: Prof Lectures+ TA sessions, Free exams

Source

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Unit 1: Basic Economic Concepts

  • Scarcity

  • Opportunity cost and the Production Possibilities Curve

  • Comparative advantage and gains from trade

  • Supply and demand

  • Market equilibrium, disequilibrium, and changes in equilibrium

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Unit 2: Economic Indicators and the Business Cycle

  • The circular flow and GDP

  • Unemployment

  • Price indices and inflation

  • Real vs. nominal GDP

  • Business cycles

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Unit 3: National Income and Price Determination

  • Aggregate demand

  • Short-run and long-run aggregate supply

  • Equilibrium and changes in the Aggregate Demand-Aggregate Supply Model

  • Fiscal policy

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Unit 4: Financial Sector

  • Financial assets

  • Definition, measurement, and functions of money

  • Banking and the expansion of the money supply

  • Monetary policy

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Unit 5: Long-Run Consequences of Stabilization Policies

  • The Phillips Curve

  • Money growth and inflation

  • Government deficits and national debt

  • Crowding out

  • Economic growth

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Unit 6: Open Economy—International Trade and Finance

  • Balance of payments accounts

  • Exchange rates and the foreign exchange market

  • Effects of changes in policies and economic conditions on the foreign exchange market

  • Changes in the foreign exchange market and net exports

  • Real interest rates and international capital flows

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