Reffonomics.com Curriculum for AP®Microeconomics
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Week 1
Unit 1: Basic Economic Concepts (12% - 15% of exam)
• Topic 1.1 Scarcity and Economic Systems
• Topic 1.2 Resource Allocation and Marginal Analysis
• Topic 1.3 Production Possibilities Curve
• Topic 1.4 Absolute and Comparative Advantage
Week 1 link
Week 2
Unit 1: Basic Economic Concepts (12% - 15% of exam)
• Topic 1.4 Absolute and Comparative Advantage (continued)
• Topic 1.5 Cost and Benefit Analysis
• Topic 1.6 Marginal Analysis and Consumer Choice
Week 2 link
Week 3
Unit 2: Supply and Demand (20% - 25% of exam)
• Topic 2.1 Demand
• Topic 2.2 Supply
• Topic 2.2 Simultaneous Change in Supply and Demand
Week 3 link
Week 5
Unit 2: Supply and Demand (20% - 25% of exam)
• Topic 2.7 Market Disequilibrium and Changes in Equilibrium
• Topic 2.8 Effects of Government Interventions in Markets (P Ceiling, P Floor, Tariff, Quota)
• Topic 2.9 International Trade and Public Policy
Week 5 link
Week 6
Unit 3: Production, Costs, and Perfect Competition (22% - 25% of exam)
• Topic 3.1 The Production Function
• Topic 3.2 Short-Run Production Costs
• Topic 3.3 Long-Run Production Costs
• Topic 3.4 Types of Profit
Week 6 link
Week 7
Unit 3: Production, Costs, and Perfect Competition (22% - 25% of exam)
• Topic 3.5 Profit Maximization
• Topic 3.6 Firms' SR Decisions to Produce and LR Decisionsto Enter or Exit
• Topic 3.7 Perfect Competition
Week 7 link
Week 8
Unit 4: Imperfect Competition (15% - 22% of exam)
• Topic 3.7 REVIEW: Perfect Competition
• Topic 4.1 Introduction to Imperfectly Competiitve Markets
Week 8 link
Week 9
Unit 4: Imperfect Competition (15% - 22% of exam)
• Topic 4.2 Monopoly
Week 9 link
Week 10
Unit 4: Imperfect Competition (15% - 22% of exam)
• Topic 4.3 Price Discrimination
• Topic 4.4 Monopolistic Competition
• Topic 4.5 Oligopoly and Game Theory
Week 10 link
Week 13
Unit 6: Market Failure & Role of Government (8% - 13%)
• Topic 6.1 Socially Efficient & Inefficient Market Outcomes
• Topic 6.2 Externalities
• Topic 6.3 Public and Private Goods
Week 13 link
Week 14
Unit 6: Market Failure & Role of Government (8% - 13%)
• Topic 6.1 Socially Efficient & Inefficient Market Outcomes
• Topic 6.2 Externalities
• Topic 6.3 Public and Private Goods
Week 14 link
Week 15
Unit 6: Market Failure & Role of Government (8% - 13%)
• Topic 6.4 The Effect of Government Intervention in Different Market Structures
Week 15 link
Week 16
Unit 6: Market Failure & Role of Government (8% - 13%)
• Topic 6.2 Externalities
• Topic 6.5 Inequality
Week 16 link