Course Overview

AP Microeconomics introduces students to the principles of economics as they apply to individual decision-makers, households, firms, and markets. Equivalent to a 100-level college course, this class examines how buyers and sellers interact, how resources are allocated, and how market forces shape prices and production. Students explore the effects of scarcity, competition, and government intervention on economic outcomes, gaining the skills to analyze real-world market behavior.

Key Learning Focus

Students will:

• Study basic economic concepts, including scarcity, opportunity cost, and comparative advantage.
• Explore the nature and function of product markets, focusing on supply and demand.
• Analyze factor markets, including labor, capital, and land.
• Examine market structures such as perfect competition, monopoly, monopolistic competition, and oligopoly.
• Evaluate the role of government in promoting efficiency, equity, and stability in the economy.

Instructional Approach

The course uses graphs, data analysis, case studies, and AP-style practice questions to help students apply theory to real-world situations. Students investigate why the same product costs different amounts in different contexts and learn to identify patterns in consumer and producer behavior.

Outcome

By the end of AP Microeconomics, students will:

• Apply the economic way of thinking to individual and business decision-making.
• Understand how market forces determine prices, production, and resource allocation.
• Evaluate how government policies affect efficiency and equity in markets.
• Be well prepared for success on the AP® Microeconomics Exam and for further study in economics, business, political science, or history.