AP Macroeconomics Crash Course - Gets You a Higher Advanced Placement Score in Less Time
Crash Course is perfect for the time-crunched student, the last-minute studier, or anyone who wants a refresher on the subject. AP Macroeconomics Crash Course gives you:
Targeted, Focused Review – Study Only What You Need to Know
Crash Course is based on an in-depth analysis of the AP Macroeconomics course description outline and actual AP test questions. It covers only the information tested on the exam, so you can make the most of your valuable study time. Our easy-to-read format covers basic economic concepts, economic performance, inflation, price determination, unemployment, economic growth, and more. The author includes must-know key formulas and definitions all AP students should know before test day.
Expert Test-taking Strategies
An AP Macroeconomics teacher shares detailed question-level strategies and explains the best way to answer the multiple-choice and free-response questions you’ll encounter on test day. By following our expert tips and advice, you can boost your overall point score.
Take REA’s Online Practice Exam
After studying the material in the Crash Course, go online and test what you’ve learned. Our practice exam features timed testing, diagnostic feedback, detailed explanations of answers, and automatic scoring. The exam is balanced to include every topic and type of question found on the actual AP exam, so you know you’re studying the smart way.
Whether you’re cramming for the test at the last minute, looking for extra review, or want to study on your own in preparation for the exam – this is one study guide every AP Macroeconomics student must have.
Author(s): Jason Welker
Series: AP Crash Course
Title Page
Copyright Page
AP MACROECONOMICS CRASH COURSE
Table of Contents
ABOUT THIS BOOK
ABOUT OUR AUTHOR
ACKNOWLEDGMENTS
PART I - INTRODUCTION
Chapter 1 - Keys for Success on the AP Macroeconomics Exam
RELATIVE IMPORTANCE OF THE AP MACRO UNITS ON THE EXAM
GRADE SCALE FOR THE AP MACRO EXAM
WHEN TO GUESS IN THE MULTIPLE-CHOICE SECTION
USING RELEASED EXAMS TO PREPARE
THE IMPORTANCE OF DIAGRAMS IN THE AP MACRO COURSE
USING THE AP MACROECONOMICS CRASH COURSE TO PREPARE FOR SUCCESS
Chapter 2 - Key Formulas and Definitions for AP Macroeconomics
I. Key Formulas
II. Key Definitions
PART II - BASIC ECONOMIC CONCEPTS
Chapter 3 - Basic Economic Concepts
I. What is Economics?
II. Choice and Opportunity Cost
III. Use of Models in Economics
IV. The Production Possibilities Curve or Frontier (PPC or PPF)
V. Economic Systems
VI. Marginal Analysis
VII. Comparative Advantage, Absolute Advantage, Specialization, and Trade
Chapter 4 - Supply, Demand, and Equilibrium in Product Markets
I. Demand and Its Determinants
II. Supply and Its Determinants
III. Market Equilibrium
PART III - MEASUREMENT OF ECONOMIC PERFORMANCE
Chapter 5 - National Income Accounts
I. The Circular Flow of the Macroeconomy
II. Gross Domestic Product and Its Components
III. Real vs. Nominal Gross Domestic Product
IV. Per Capita GDP
V. Economic Growth and Recession
Chapter 6 - Inflation Measurement and Adjustment
I. Inflation and Deflation
II. Measuring Inflation and Deflation—The Use of Price Indexes
III. Calculating the Inflation Rate Using the CPI
IV. The Costs of Inflation
Chapter 7 - Unemployment
I. Employment and Unemployment
II. Types of Unemployment
III. The Natural Rate of Unemployment (NRU)
IV. The Costs of Unemployment
PART IV - NATIONAL INCOME AND PRICE DETERMINATION
Chapter 8 - Aggregate Demand
I. Aggregate Demand
II. The Components of Aggregate Demand
III. The Multiplier Effect and the Crowding-Out Effect
Chapter 9 - Aggregate Supply
I. Aggregate Supply—Short-Run Analysis
II. Aggregate Supply—Long-Run Analysis
III. Determinants of Aggregate Supply
Chapter 10 - Macroeconomic Equilibrium in the AD/AS Model
I. Real Output and Price Level in the AD/AS Model
II. From Short Run to Long Run in the AD/AS Model
III. Economic Fluctuations in the AD/AS Model
PART V - FINANCIAL SECTOR
Chapter 11 - Money, Banking, and Financial Markets
I. The Definitions of Financial Assets: Stocks, Bonds, and Money
II. The Money Supply
III. Banks and the Creation of Money
IV. Money Demand
V. The Money Market
VI. The Loanable Funds Market and Real Interest Rates
Chapter 12 - Central Bank and Control of the Money Supply
I. Tools of Central Bank Policy
II. The Monetary Equation of Exchange
PART VI - MACROECONOMIC POLICIES, INFLATION, AND UNEMPLOYMENT
Chapter 13 - Fiscal and Monetary Policies
I. Introduction to Fiscal Policy
II. Short-Run Effects of Fiscal and Monetary Policies
III. Long-Run Effects of Fiscal and Monetary Policies
IV. Mixing Fiscal, Monetary, Demand-Side, and Supply-Side Policies
Chapter 14 - Inflation and Unemployment
I. Types of Inflation
II. The Phillips Curve: Short-Run vs. Long-Run Relationships Between Inflation and Unemployment
III. The Role of Expectations
PART VII - ECONOMIC GROWTH AND PRODUCTIVITY
Chapter 15 - Sources of Economic Growth and Productivity
I. Economic Growth—Definition, Measurement, and Illustration
II. Sources of Economic Growth
III. Growth Policy
PART VIII - OPEN ECONOMY: INTERNATIONAL TRADE AND FINANCE
Chapter 16 - Balance of Payments Accounts
I. Introduction to the Balance of Payments
II. The Current Account
III. The Financial Account (formerly known as the Capital Account)
IV. Official Reserves Account
V. Consequences of Imbalances in the Balance of Payments
Chapter 17 - Foreign Exchange Market
I. Introduction to the Foreign Exchange Market
II. Demand and Supply for Foreign Exchange
III. Exchange Rate Determination
PART IX - TEST-TAKING STRATEGIES
Chapter 18 - Strategies for the Multiple-Choice Questions
USE OF TIME ON THE MULTIPLE-CHOICE SECTION
LEVEL 1 QUESTIONS—DEFINITIONAL
LEVEL 2 QUESTIONS—ANALYTICAL
LEVEL 3 QUESTIONS—SYNTHESIS
Chapter 19 - Strategies for the Free-Response Questions
WHICH TOPICS WILL THE FRQs COVER?
THE STRUCTURE OF AN FRQ
TIPS FROM AP MACRO STUDENTS
Economics Glossary
Welcome to REA’s Crash Course for AP Macroeconomics
