- Course type: Self-paced
- Available Lessons: 102
- Average Lesson Length: 8 min
Eligible for Certificate: Yes
Certificates show that you have completed the course. They do not provide credit.
Watch a preview:chapter 1 / lesson 1What is Economics? - Definition & Types
Course SummaryReview the entertaining lessons in this course to get ready for the AP Microeconomics test. The course covers essential microeconomics concepts, and you can see how well you understand these topics by taking short quizzes and comprehensive chapter exams.
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Course Practice TestCheck your knowledge of this course with a 50-question practice test.
- Comprehensive test covering all topics
- Detailed video explanations for wrong answers
About This Course
This course provides an in-depth look at the concepts you could encounter when preparing for an AP Microeconomics exam. Chapters offer engaging lessons designed to boost your comprehension of foundational economic terms, supply and demand in markets and consumer behaviors. The course chapters also explore factor markets, production and costs in economic markets, firm behavior, monopolies and more. Each lesson features a short quiz perfect for assessing your comprehension of AP Microeconomics topics. You can take the included chapter exams and a full course assessment to reinforce the information as you prepare for your upcoming AP exam.
Check out our AP test prep materials! We've got AP courses to teach you the material, comprehensive AP study guides to help you study, AP practice tests to test your knowledge, and informational AP resources to get you up to speed on testing logistics.
Syllabus & Course Information
This course covers the foundational microeconomics topics that you can expect to find on the AP exam. You'll review basic economics terminology, and our instructors will provide illustrative examples of microeconomics concepts. By the end of the course, you should be able to:
- Examine utility maximization, substitution and income effects
- Explain a variety of foundational economic concepts, including microeconomic resources, opportunity cost and the role of property rights in economic theory
- Describe capitalism and the free market, as well as a various economic systems/structures
- Evaluate supply and demand in markets by exploring ceteris paribus, the supply curve, market equilibrium, microeconomic shifts and tax incidence
- Define price elasticity, cross-price elasticity and income elasticity
- Differentiate between average and total cost, as well as short-run and long-run costs
- Assess accounting profit, profit maximization, price discrimination, oligopoly and game theory
- Recognize instances of derived factor demand, marginal revenue product, market failure and negative/positive externality
- Talk about the relationship between public goods and government in economics
- Outline the circular flow of economic activity
This course consists of 95 lessons and a total of 10 topical chapters. Review the lessons online at any time that fits your schedule, and print out the transcripts to follow along with the lesson narrators. In addition to the lessons, you'll take short practice quizzes that can help you get comfortable answering the types of questions you'll find on the AP Microeconomics exam.
AP Microeconomics Exam Information
When you finish your high school AP Microeconomics course, you'll take the AP Microeconomics exam to demonstrate mastery of the information you learned. Upon passing the exam, you may earn advanced college placement and even college credit.
- Approximate Number of Questions: 63
- Question Types: Multiple-choice and free-response
- Time Limit: 2 hours and 10 minutes
- Exam Cost: $94
AP Microeconomics Exam Breakdown
In addition to the main multiple-choice section outlined below (approximately 66% of the exam), the final 33% of the test is made up of 3 free-response questions that address various microeconomics concepts that you've studied throughout the course.
|AP Microeconomics Exam Concept||Percent of the AP Microeconomics Exam||Approximate Number of Questions||Chapter Lessons|
|Basic economic concepts||8-14%||5-8||17|
|The nature and functions of product markets||55-70%||33-42||58|
|Market failure and the role of government||12-18%||7-11||10|
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