Reffonomics.com Curriculum for AP®Macroeconomics
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Week 1
Unit 1: Basic Economic Concepts (5% - 10% of exam)
• Topic 1.1 Scarcity and Opportunity Cost
• Topic 1.2 Production-Possibilities Curve
• Topic 1.3 PPC (Absolute, Comparative Advantage, Terms of Trade)
Week 1 link
Week 2
Unit 1: Basic Economic Concepts (5% - 10% of exam)
• Topic 1.4 Demand
• Topic 1.5 Supply
• Topic 1.6 Market Equilibrium, Disequilibrium, and Changes in Equilibrium
Week 2 link
Week 3
Unit 2: Economic Indicators & Business Cycle (12% - 17% of exam)
• Topic 2.1 Circular Flow and GDP
• Topic 2.2 Limitations of GDP
• Topic 2.3 Unemployment
• Topic 2.4 Price Indices and Inflation
• Topic 2.5 Cost of Inflation
Week 3 link
Week 4
Unit 2: Economic Indicators & Business Cycle (12% - 17% of exam)
• Topic 2.6 Real v. Nominal GDP
• Topic 2.7 Business Cycles
• Topic 2.1 - 2.7 Review
Week 4 link
Week 5
Unit 3: National Income & Price Determination (17% - 27% of exam)
• Topic 3.1 Aggregate Demand (AD)
• Topic 3.2 Multipliers
• Topic 3.3 Short-Run Aggregate Supply (SRAS)
• Topic 3.4 Long-Run Aggregate Supply (LRAS)
Week 5 link
Week 6
Unit 3: National Income & Price Determination (17% - 27% of exam)
• Topic 3.5 Equilibrium in the ASAD Model
• Topic 3.6 Changes in the ASAD Model in the SR
• Topic 3.7 LR Self-Adjustment
• Topic 3.8 Changes in the ASAD Model in the SR
• Topic 3.9 LR Self-Adjustment
Week 6 link
Week 8
Unit 4: Financial Sector (18% - 23% of exam)
• Topic 4.2 Nominal v. Real Interest Rates
• Topic 4.5 History of the Money Market
Week 8 link
Week 9
Unit 4: Financial Sector (18% - 23% of exam)
• Topic 4.6 Current Monetary Policy
Week 9 link
Week 10
Unit 4: Financial Sector (18% - 23% of exam)
• Topic 4.6 Current Monetary Policy REVIEW
• Topic 4.7 The Loanable Funds Market
Week 10 link
Week 11
Unit 5: LR Consequences & Stabilization Policies (20% - 30%)
• Topic 5.1 Fiscal & Monetary Policy Actions in the Short Run
• Topic 5.2 The Phillips Curve
• Topic 5.3 Money Growth and Inflation
Week 11 link
Week 12
Unit 5: LR Consequences & Stabilization Policies (20% - 30%)
• Topic 5.4 Government Deficits and the National Debt
• Topic 5.5 Crowding Out
• Topic 5.6 Economic Growth
• Topic 5.7 Public Policy and Economic Growth
Week 12 link
Week 13
Unit 6: Open Economy -- International Trade & Finance (10% - 13%)
• Topic 6.1 Balance of Payments Account
• Topic 6.2 Exchange Rates
• Topic 6.3 The Foreign Exchange Market
• Topic 6.4 Effect of Changes in Policies and Economic Conditions on the Foreign Exchange Market (FX Market)
• Topic 6.5 Changes in the FX Market and Net Exports
• Topic 6.6 Real Interest Rates & International Capital Flows
Week 13 link
Week 14
Unit 6: Open Economy -- International Trade & Finance (10% - 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: Open Economy -- International Trade & Finance (10% - 13%)
• Topic 6.4 The Effect of Government Intervention in Different Market Structures
Week 15 link
Week 16
Unit 6: Open Economy -- International Trade & Finance (10% - 13%)
• Topic 6.1 - 6.6 REVIEW
Week 16 link