Advanced Placement Economics (AP Economics or AP Econ) consists of two, separate examinations that are offered as part of the College Board’s Advanced Placement Program. It has two sub-disciplines— AP Macroeconomics (Advanced Placement Economics) and AP Microeconomics (Advanced Placement Microeconomics)
Advanced Placement Microeconomics is a branch of microeconomics. It helps to understand the nature of market and micro economies. It contains basic economic concepts, nature, functions and factors of markets, role of government in market, etc. Microeconomics studies the functionality and internal relations of economical factors as well as their effects on each other. Some micro economical factors are— Assets, Budget, Insurance, , Bundling, Advertising, Capital Markets, Competition vs. Collusion, Expected Value, Consumer Behavior, Market Baskets, Consumer Surplus, Cost Function, Economies of Scale/Scope, Learning Curve, Types of Markets, Effect of Elasticity on Surplus, Elasticity, Single Factor Demand (Labor), Engel Curves, Income-Substitution Effects, Intro to Microeconomics, Isocost Line, Labor Supply, Price/Income Consumption Curves, Long-Run Output, Marginal Utility, Probability, Consumer Choice, Market Equilibrium, Shifts, Monopolistic Price Competition, Special Cases, Monopoly Power, Monopsony, Multiple Inputs, Network Externalities, Oligopoly, One Variable Input, Perfectly Competitive Markets, Price Discrimination, Price Supports, Variability, Product Function, Quotas and Tariffs, Reducing Risk, Risk Preferences, Short-Run Output, Short-Run, Long-Run Cost, Short-run vs. Long-run, Price Controls, Isocost Line, Social Costs of Monopoly, Returns to Scale, Specific Taxes, Supply and Demand, Two Variable Inputs, Two-part Tariff, Types of Cost, etc.
Likewise AP microeconomics Advanced Placement Economics studies the effects of macroeconomics and its factor. It studies also basic economic concepts, national income and price determination, economic performance, economic growth and productivity, open economy, international trade and finance, inflation, unemployment, etc. It is used to study the nature and methods of economy, individual markets, economizing problem, measuring domestic output, national income, price level, economic growth and instability, building the aggregate expenditures model, aggregate demand and aggregate supply, aggregate expenditures, the multiplier, net exports, and government, money and banking, how banks and thrifts create money, fiscal policy, monetary policy, disputes over macro theory and policy, economic growth and the new economy, extending the analysis of aggregate supply, deficits, surpluses and the public debt, etc.