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AP Macroeconomics (NCAA Approved)

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Open to: Grades 9 - 12

Eligibility: CTY-level or Advanced CTY-level math or verbal score required

Prerequisites: Completion of Algebra II or the equivalent

Course Format: Session Based. See calendar for session dates and application deadlines.

Course Length: 30 weeks (Academic Year)

Recommended School Credit: One academic year

Student Expectations: Students are strongly encouraged to work an average of 4-7 hours per week for the 30-week session with breaks for holidays.

Course Code: APMA

Course Description


AP Macroeconomics is an introduction to how the market system works, how prices are determined, why shortages and surpluses occur, and why incomes differ.

Topics include:

  • national income
  • price determination
  • economic performance measures
  • economic growth
  • international economics

This course prepares students to take the AP Macroeconomics exam, and has been reviewed and approved by the College Board to use the "AP" designation.

This course has synchronous virtual class meetings and students may also schedule one-on-one virtual meetings directly with the instructor to answer questions or concerns. The instructor will schedule meeting dates/times at the start of the course. Meetings will be recorded for students who are unable to attend due to scheduling conflicts.

Virtual classrooms, and student activities in the classroom, may be recorded and added to the course as an ongoing asset for all class students to review. Students may be invited to interact in CTY community spaces that include students and instructors and potentially specially invited guests that are not enrolled in their course. Videos from YouTube or other web providers may be present in the course. Video recommendations or links provided at end of videos are generated by the video host provider and are not CTY recommendations. Student contributions (e.g., projects, forum posts, etc.) may remain in the course after the student completes the course. These artifacts may be preserved to showcase student work or to continue important conversations.

Materials Needed

There are no required materials for this course.

Detailed Course Information

Course Details

I. Basic Economic Concepts

  • Defining Economics
  • What Economists Do
  • Production Possibilities Frontier
  • An Overview of Economic Systems
  • Determining the Components of Demand
  • Determining the Components of Supply
  • Determining a Competitive Equilibrium
  • Recessions, Depressions and Booms

II. Measurement of Economic Performance

  • The Circular Flow Model
  • Real GDP
  • The New BEA Procedure for Calculating Real GDP
  • Changes in the Cost of Living and the CPI
  • Calculating the Rate of Inflation
  • Measuring the Labor Force and Unemployment
  • Types of Unemployment
  • Understanding the Natural Rate of Unemployment

III. National Income and Price Determination

  • Deriving the Aggregate Demand Curve
  • Movement along the Aggregate Demand Curve
  • The Market for Loanable Funds and Crowding Out
  • Shifts in Aggregate Demand
  • The Short-Run Aggregate Supply Curve
  • The Long-Run Aggregate Supply Curve
  • The Labor Market
  • The Classical View
  • Equilibrium in the Long Run and the Short Run
  • Long-Run Macroeconomic Equilibrium

IV. Financial Sector

  • The Money Supply
  • Banks Create Money
  • Determinants of Money Demand
  • The Money Market
  • The Market for Loanable Funds
  • The Federal Reserve System
  • The Fed's Tools of Monetary Policy
  • How the Fed Changes the Money Supply
  • The Quantity Theory of Money
  • How the Fed Changes the Money Supply

V. Inflation, Unemployment and Stabilization Policies

  • Unanticipated Changes in Aggregate Demand
  • Unanticipated Changes in Aggregate Supply
  • Fiscal Policy
  • New Keynesians versus Monetarists
  • New Classical Macroeconomics
  • The U.S. National Debt
  • Inflation, Deflation, Stagflation and Hyperinflation
  • Short-Run Causes: Demand-Pull and Cost-Push
  • Definitions and the Historical Record
  • Expectations and the Phillips Curve

VI. Economic Growth and Productivity

  • Investment
  • Other Policies to Encourage Growth
  • Policies to Promote Growth

VII. Open Economy

  • Trade Balance
  • Balance of Payments
  • Nominal Exchange Rate
  • Real Exchange Rates
  • Purchasing Power Parity
  • Floating and Fixed Systems
  • The Managed Float
  • The International Flow of Goods and Services
  • Understanding Exports in an Open Economy

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Technical Requirements

This course requires a properly maintained computer with high-speed internet access and an up-to-date web browser (such as Chrome or Firefox). The student must be able to communicate with the instructor via email. Visit the Technical Requirements and Support page for more details.

Zoom online virtual classroom
This course uses an online virtual classroom which can be used for instructor-student communication if the student has any questions about the course or curriculum. The classroom works on standard computers with the Zoom desktop client and also tablets or handhelds that support the Zoom Mobile app. Students will need a computer with the Zoom desktop client installed to watch any recorded meetings. The Zoom desktop client and Zoom Mobile App are both available for free download.

This course uses Respondus LockDown Browser proctoring software for designated assessments. LockDown Browser is a client application that is installed to a local computer. Visit the Respondus website for system requirements.

While Chromebook can be used to progress through the course, all exams must be completed on a PC or Mac.