- Course type: Self-paced
- Available Lessons: 117
- Average Lesson Length: 8 min
Eligible for Certificate:
Certificates show that you have completed the course. They do not provide credit.
Watch a preview:chapter 1 / lesson 1Economic Scarcity and the Function of Choice
This course can be found in: CLEP Test Prep
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Course SummaryLet us help you prepare to earn a passing grade on the CLEP Principles of Macroeconomics exam with the short video lessons in this test prep course. Our learning tools are mobile friendly, accessible from any mobile device and make a comprehensive study guide to use to prepare for this test and earn college credit.
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- Comprehensive test covering all topics
- Detailed video explanations for wrong answers
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About This Course
Earning three hours of college credit is as simple as devoting two weeks or less to our Principles of Macroeconomics CLEP study guide. We'll help you prepare for this credit-granting exam with entertaining videos that cover everything from aggregate supply and demand to economic growth and fiscal policy.
These self-paced lessons are taught by experienced instructors and include everything you'll need to create a successful study plan. Use them to cut the cost of your degree program and earn a form of college credit accepted at more than 2,900 colleges across the country.
Check out our CLEP Preparation resources! We've got CLEP courses to teach you the material, comprehensive CLEP study guides to help you study, CLEP practice tests to test your knowledge, and CLEP informational articles to get you up to speed on testing logistics.
This course was last updated in 2019.
Syllabus & Course Information
Lessons in this macroeconomics course are aligned with CLEP test content, so you'll spend your study time focusing on actual exam topics. Use the lessons to:
- Understand the concept of economic scarcity and the function of consumer choice in economics. Learn how to calculate opportunity cost and apply the production possibilities model. Study shifts in the production possibilities curve.
- Learn about comparative advantages and the benefit of specialization. Differentiate between comparative and absolute advantages.
- Examine market demand schedules, market supply schedules, the law of the downward sloping demand curve, and the upward sloping supply curve. Learn to calculate market equilibrium and describe how it is affected by changes in supply and demand.
- Study the circular flow of economic activity and approaches to measuring gross domestic product (GDP). Take a look at the differences between 'investment' and 'investments' in economics.
- Examine the consumer price index, the GDP deflator, and substitution bias. Find out how to adjust wages for inflation and calculate real GDP growth rates. Study the multiplier effect and cost-push inflation.
- Explore methods for measuring the unemployment rate. Learn why it decreases and increases, and identify the three types of unemployment. Study the effect of minimum wage on unemployment.
- Examine Keynesian and classical economic models. Take a look at supply and demand curves, Keynes' economic theory of aggregate demand, shifts in labor supply and demand, marginal propensity to consume, sticky wages, and aggregate supply.
- Take a look at the relationship between expansionary gaps, contractionary gaps and full employment GDP. Study economic performance over time, and differentiate between recession and depression.
- Use the Phillips curve model to study factors that influence the inflation rate
- Learn how real GDP per capita affects the standard of living. Find out how investment in human and physical capital can influence productivity.
- Study types of financial assets, the four basic functions of money, the fractional reserve system, money demand, and interest rates. Learn how to calculate the time value of money and measure the money supply.
- Take a look at the Federal Reserve system, open market operations, the quantity theory of money, and the velocity of money. Learn how banks borrow money from the Federal Reserve and examine factors affecting the money supply.
- Study the Keynesian revolution alongside expansionary and contractionary fiscal and monetary policy tools. Examine supply-side economics and short-term GDP in relation to Keynes's theory.
- Take a look at foreign currency exchange. Discover the relationships between fiscal and monetary policies, exchange rates, and currency appreciation or depreciation.
- Find out about net exports, capital flows, and trade balance. Explore financial and goods markets, tariffs, and trade restrictions.
This course is a good starting point for your macroeconomics studies; there are no prerequisites.
The 15 chapters found in this course contain a total of 111 lessons. You can access content in the form of illustrated videos lasting about six minutes each or follow the transcripts if a written format is more to your liking. We've also included lesson quizzes to help you track your progress, and our subject-matter experts can answer any macroeconomics questions you might come up with. There is a final CLEP Principles of Macroeconomics practice test at the end of the course for you to prepare for the test.
Principles of Macroeconomics CLEP Exam Information
Studying for the Principles of Macroeconomics CLEP exam will introduce you to the same topics discussed in a semester-long course. Students typically use credits earned for passing exam scores or course completion to fulfill a school's general education requirements in the social sciences. Macroeconomics CLEP credits or coursework could also be used to meet prerequisites for upper-level economics classes found in a related major.
- Number of Questions: Around 80
- Question Type: Multiple-choice
- Time Limit: 90 minutes
- Number of Credits: 3
- Exam Cost: $85
Principles of Macroeconomics CLEP Exam Breakdown
|CLEP Exam Concept||Percent of the CLEP Exam||Approximate Number of Questions||Study.com Chapters|
|Basic Economic Concepts||8%-12%||8 questions||14 lessons|
|Measurement of Economic Performance||12%-16%||12 questions||22 lessons|
|National Income and Price Determination||10%-15%||10 questions||14 lessons|
|Financial Sector||15%-20%||14 questions||21 lessons|
|Inflation, Unemployment and Stabilization Policies||20%-30%||20 questions||21 lessons|
|Economic Growth and Productivity||5%-10%||6 questions||7 lessons|
|Open Economy: International Trade and Finance||10%-15%||10 questions||12 lessons|
Earn CLEP Credit
Earning CLEP credit is like venturing into the short line at the DMV and finding that it totally paid off. In significantly less time than it takes to complete a traditional semester-long course, you can earn the same three hours of college credit when you use our study guide to prepare for the Principles of Microeconomics CLEP exam.
Study Schedule for the Principles of Macroeconomics CLEP Exam
You can take as long as you need to complete the 11 hours of instruction included in this course, but to give you a better idea of how much study time you're looking at, we've included the chart below. Use it to help determine an exam date or create a study plan that fits your scheduling needs.
|Study Frequency||When You'll Be Ready for the Exam|
|3 hours a day; 3 days a week||Just over 1 week|
|2 hours a day; 3 days a week||About 2 weeks|
|1 hour a day; 3 days a week||Around 4 weeks|
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