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The purpose of AP Economics is
to give students a thorough understanding of the principles of
economics. The AP program offers two separate examinations
in economics: one in Microeconomics and one in Macroeconomics for
a total of 6 possible college credits. Each examination is taken in May. Students
must take both examinations to complete this course at McQuaid.
Macroeconomics studies the principles that apply to an economic system as a whole. Emphasis is placed on supply and demand, GNP, inflation, unemployment, Fiscal Policy, Monetary Policy, and international economics. Microeconomics studies the principles that apply to the individual decision maker. Emphasis is placed on supply and demand, product markets, factor markets, costs, revenue, profit, and market structures. Prerequisites include a strong mathematical background and an equally strong social studies background. |