What is an AP Microeconomics Course?

AP Microeconomics is a college-level subject that introduces students to the economic principles that apply to individual economic decision-makers. Students will also get an understanding of how product and factor markets work, income distributions, market failure, and the role of government in fostering better efficiency and justice in the economy. Students learn to analyse, describe, and explain economic ideas using graphs, charts, and statistics.

Prerequisites

For AP Microeconomics, there are no prerequisites. Students should be able to read a college textbook and do basic arithmetic and graphing calculations.

Course Content

Unit 1: Basic Economic Concepts

You’ll learn about the fundamentals of microeconomics, such as how to assess decisions based on limitations and trade-offs and make sensible economic judgments.

Unit 2: Supply and Demand

With this introduction to the supply and demand model, you’ll get a foundation for understanding how markets function.

Unit 3: Production, Cost, and the Perfect Competition Model

You’ll learn about the ideal competition model and the elements that influence company behaviour.

Unit 4: Imperfect Competition

You’ll study how markets are imperfectly competitive and how game theory is used in economic models.

Unit 5: Factor Markets

In the context of factor markets, you’ll study how concepts like supply and demand and marginal decision-making apply.

Unit 6: Market Failure and the Role of Government

You’ll look at the circumstances under which markets might fail, as well as the consequences of government involvement in markets.

Exam Pattern

Section I: Multiple Choice

This portion will consist of 60 questions and will last 1 hour 10 minutes, accounting for 66 percent of the overall score. 

Across a wide range of course subjects and abilities, questions involve the application of economics content knowledge and reasoning. You’ll be required to:

• Define the economic concepts and models that will be used
• Explain the following economic results.
• Determine how specific economic conditions will turn out.

Section II: Free Response

This portion will consist of 3 questions and will last 1 hour, accounting for 33 percent of the overall score. 

This part has a 60-minute time restriction, which includes a 10-minute reading session.

1.  lengthy free-response question (50 percent of section score)
2. quick free- response questions (each worth 25 percent of section score)

You’ll be required to:

• Declare economic concepts, principles, models, results, and/or consequences.
• Explain the concepts, principles, models, outcomes, and/or impacts of economics.
• Calculate and analyse numerical data 
• (On paper and pencil exams) Make graphs or visual representations of your findings
• (On digital exams) Answer questions regarding the graphs and images you’ve been provided.

Our Offerings

• 40+ hours of Live Classes with experienced faculty
• 40+ hours of assignments
• Unit wise test to access the understanding
• 6+ Full length mock tests
• Doubt clarification sessions
• Online self paced course for additional practice

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