🤑 2023 AP Microeconomics Study Plan and Progress Tracker
Welcome to this plethora of resources that cover everything! This toolkit is being constantly updated with more resources! AP Microeconomics is an introductory college-level microeconomics course. In this course, you will cultivate your understanding of the principles that apply to the functions of individual economic decision-makers. You will explore concepts like scarcity and markets; costs, benefits, and marginal analysis; production choices and behavior; and market inefficiency and public policy.
🚨 All you need to know about the 2023 AP Macroeconomics Exam!
The AP Microeconomics Exam
A breakdown of the exam by percentage.
| Unit | Exam Weighting (Multiple-Choice Section) |
|---|---|
| Unit 1: Basic Economic Concepts | 12%–15% |
| Unit 2: Supply and Demand | 20%–25% |
| Unit 3: Production, Cost, and the Perfect Competition Model | 22%–25% |
| Unit 4: Imperfect Competition | 15%–22% |
| Unit 5: Factor Markets | 10%–13% |
| Unit 6: Market Failure and the Role of Government | 8%–13% |
Course Skills
By taking this course, you’ll be able to develop critical thinking skills in the following areas:
| Skill | Description |
|---|---|
| 1. Principles and Models | Define economic principles and models. |
| 2. Interpretation | Explain given economic outcomes. |
| 3. Manipulation | Determine outcomes of specific economic situations. |
| 4. Graphing and Visuals | Model economic situations using graphs or visual representations. |
Download our free 2023 AP Micro Study Tracker Notion Template. It's free for all students to use. Track your study progress, rate your confidence levels, and store notes in each study guide page. It's the perfect companion to Fiveable's AP Study Guides
Study Guides for Every Unit
💸 Unit 1 - Basic Economic Indicators
- 1.0 Overview of Unit 1
- 1.1 Scarcity
- 1.2 Resource Allocation and Economic Systems
- 1.3 Production Possibilities Curve (PPC)
- 1.4 Comparative Advantage and Trade
- 1.5 Cost-Benefit Analysis
- 1.6 Marginal Analysis and Consumer Choice
- 1.7 Multiple Choice Questions
- 1.8 MC Answers and Review
📈 Unit 2 - Supply and Demand
- 2.0 Overview of Unit 2
- 2.1 Demand
- 2.2 Supply
- 2.3 Price Elasticity of Demand
- 2.4 Price Elasticity of Supply
- 2.5 Other Elasticities
- 2.6 Market Equilibrium and Consumer and Producer Surplus
- 2.7 Market Disequilibrium and Changes in Equilibrium
- 2.8 The Effects of Government Intervention in Markets
- 2.9 International Trade and Public Policy
- 2.10 Multiple Choice Questions
- 2.11 MC Answers and Review
⚙️ Unit 3 - Production, Cost, and the Perfect Competition Model
- 3.0 Overview of Unit 3
- 3.1 The Production Function
- 3.2 Short-Run Production Costs
- 3.3 Long-Run Production Costs
- 3.4 Types of Profit
- 3.5 Profit Maximization
- 3.6 Firms’ Short-Run Decisions to Produce and Long-Run Decisions to Enter or Exit a Market
- 3.7 Perfect Competition
- 3.8 Multiple Choice Questions
- 3.9 MC Answers and Review
📊 Unit 4 - Imperfect Competition
- 4.0 Overview of Unit 4
- 4.1 Introduction to Imperfectly Competitive Markets
- 4.2 Monopolies
- 4.3 Price Discrimination
- 4.4 Monopolistic Competition
- 4.5 Oligopoly and Game Theory
- 4.6 Multiple Choice Questions
- 4.7 MC Answers and Review
💰 Unit 5 - Factor Markets
- 5.0 Overview of Unit 5
- 5.1 Introduction to Factor Markets
- 5.2 Changes in Factor Supply and Factor Demand
- 5.3 Profit Maximizing Behavior in Perfectly Competitive Factor Markets
- 5.4 Monopsonistic Markets
- 5.5 Multiple Choice Questions
- 5.6 MC Answers and Review
🏛️ Unit 6 - Market Failure and Role of Government
- 6.0 Overview of Unit 6
- 6.1 Socially Efficient and Inefficient Market Outcomes
- 6.2 Externalities
- 6.3 Public and Private Goods
- 6.4 The Effects of Government Interventions in Different Market Structures
- 6.5 Inequality
- 6.6 Multiple Choice Questions
- 6.7 MC Answers and Review
AP Micro Exam
- ✍🏽 AP Microeconomics Exam Guide: A complete breakdown of the multiple-choice and free-response sections of the exam, including complete examples and advice from certified teachers.
- 🤯 AP Microeconomics Multiple-Choice Section Help (MCQ): A sweet and simple breakdown of the multiple-choice section, including examples and expert advice.
Quicklinks
- 📉 Supply and Demand: Master the fundamentals of Supply and Demand!
- 🤔 Determinants of Supply and Demand: Get to understand the acronyms that are associated with Supply and Demand!
Check out all of our AP Micro resources!
Related Questions:
- Where can I find Fiveable's AP Microeconomics resources?
- Do you provide support for AP Microeconomics?
- Does Fiveable help students pass the AP Microeconomics?