AP Economics is a year-long course designed to provide students with a strong foundation in economic topics, concepts and methods. It is also intended to prepare students to take two AP exams: Microeconomics and Macroeconomics, both given in the spring. All students that take the class must take both semesters and both exams.
What is economics?
Economists like to define their discipline as the study of scarcity and choice. In a few more words, it is the study of how rational individuals make choices—primarily about our time, money and skills—in a world in which resources are limited and we can’t have everything we want. It’s also the study of how my individual economic decisions affect yours and yours affect mine, and of how these interactions operate within the bigger picture of what we think of as “the economy.”
Economic analysis can give us insight into all kinds of compelling questions that individuals and societies face. How do businesses decide what to make, how much of it, and how many people to employ? How much should people pay in taxes, and how should the government spend that money? How should you best allocate your free time in order to maximize your academic performance, fulfillment of other responsibilities and personal happiness? Economists tackle questions like these and try to provide specific answers that can help determine the best way forward.
The study of economics is divided into microeconomics and macroeconomics. You can think of them at the lenses through which we to try to understand things. Microeconomics tends to focus on the individual level--the choices of the individual consumer, firm or worker--while macroeconomics looks at “the economy” overall: the economic performance of countries; economic aggregates like consumers or workers; and economic policy.
Click here to see the syllabus.