AP Macroeconomics study guides

Unit overviews and topic breakdowns with timelines, key figures, and vocabulary.

Unit 1: Basic Economic Concepts

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1.1Scarcity1.2Opportunity Cost and the Production Possibilities Curve1.3Comparative Advantage and Gains from Trade1.4Demand1.5Supply1.6Market Equilibrium, Disequilibrium, and Changes in Equilibrium

Unit 2: Economic Indicators and the Business Cycle

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2.1The Circular Flow and GDP2.2Limitations of GDP2.3Unemployment2.4Price Indices and Inflation2.5Costs of Inflation2.6Real vs. Nominal GDP

Unit 3: National Income and Price Determination

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3.1Aggregate Demand3.2Multipliers3.3Short-Run Aggregate Supply3.4Long-Run Aggregate Supply3.5Equilibrium in the AD-AS Model3.6Changes in the AD-AS Model in the Short Run3.7Long-Run Self-Adjustment3.8Fiscal Policy

Unit 4: Financial Sector

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4.1Financial Assets4.10Crowding Out4.2Nominal vs. Real Interest Rates4.3Definition, Measurement, and Functions of Money4.4Banking and the Expansion of the Money Supply4.5The Money Market4.6Monetary Policy4.7The Loanable Funds Market4.8The Money Market and the Loanable Funds Market4.9Fiscal and Monetary Policy Actions in the Short Run

Unit 5: Long-Run Consequences of Stabilization Policies

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5.1Fiscal and Monetary Policy Actions in the Long Run5.2The Phillips Curve5.3Money Growth and Inflation5.4Government Deficits and the National Debt5.5Crowding Out5.6Economic Growth5.7Public Policy and Economic Growth5.8Real Interest Rates and International Capital Flows

Unit 6: Open Economy - International Trade and Finance

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6.1Balance of Payments Accounts6.10Economic Integration and Trade Agreements6.2Exchange Rates6.3The Foreign Exchange Market6.4Effect of Changes in Policies and Economic Conditions on the Foreign Exchange Market6.5Changes in the Foreign Exchange Market and Net Exports6.6Real Interest Rates and International Capital Flows6.7The Effect of Trade Policies6.8Fiscal and Monetary Policies in Open Economies6.9Exchange Rate Regimes

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