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AP Macroeconomics
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- Course & Exam Description
- Revision Sheet
- Syllabus Checklist
- Scheme of Work
- Exam Technique
- Command Words — A3 poster
- Lesson Plans — one page per topic
- Class Mark Book
1. Basic Economic Concepts 19 files
Handouts
Presentation slides
Exercise walk-through slides
Vocabulary
Topic Quizzes
Exercise sheets
Past Paper Questions
Unit Tests
2. Economic Indicators and the Business Cycle 26 files
Presentation slides
Exercise walk-through slides
Topic Quizzes
Exercise sheets
Past Paper Questions
3. National Income and Price Determination 31 files
Presentation slides
Exercise walk-through slides
- 3.1 Aggregate Demand (AD)
- 3.2 Multipliers
- 3.3 Short-Run Aggregate Supply (SRAS)
- 3.4 Long-Run Aggregate Supply (LRAS)
- 3.5 Equilibrium in the Aggregate Demand–Aggregate Supply (AD–AS) Model
- 3.6 Changes in the AD–AS Model in the Short Run
- 3.7 Long-Run Self-Adjustment
- 3.8 Fiscal Policy
- 3.9 Automatic Stabilizers
Vocabulary
Topic Quizzes
Exercise sheets
- 3.1 Aggregate Demand (AD)
- 3.2 Multipliers
- 3.3 Short-Run Aggregate Supply (SRAS)
- 3.4 Long-Run Aggregate Supply (LRAS)
- 3.5 Equilibrium in the Aggregate Demand–Aggregate Supply (AD–AS) Model
- 3.6 Changes in the AD–AS Model in the Short Run
- 3.7 Long-Run Self-Adjustment
- 3.8 Fiscal Policy
- 3.9 Automatic Stabilizers
Past Paper Questions
Unit Tests
4. Financial Sector 25 files
Handouts
Presentation slides
Exercise walk-through slides
Vocabulary
Topic Quizzes
Exercise sheets
Past Paper Questions
Unit Tests
5. Long-Run Consequences of Stabilization Policies 26 files
Presentation slides
Exercise walk-through slides
Topic Quizzes
Exercise sheets
Past Paper Questions
6. Open Economy—International Trade and Finance 23 files
Presentation slides
Exercise walk-through slides
Topic Quizzes
Exercise sheets
Past Paper Questions
2026 1 files
- 2026 Questions
- AP Macroeconomics — Question index
- 1.2 Opportunity Cost and the Production Possibilities Curve (PPC)
- 1.3 Comparative Advantage and Gains from Trade
- 2.1 The Circular Flow and GDP
- 2.2 Limitations of GDP
- 2.3 Unemployment
- 2.4 Price Indices and Inflation
- 2.5 Costs of Inflation
- 2.6 Real v. Nominal GDP
- 2.7 Business Cycles
- 3.1 Aggregate Demand (AD)
- 3.2 Multipliers
- 3.4 Long-Run Aggregate Supply (LRAS)
- 3.5 Equilibrium in the Aggregate Demand–Aggregate Supply (AD–AS) Model
- 3.6 Changes in the AD–AS Model in the Short Run
- 3.7 Long-Run Self-Adjustment
- 3.8 Fiscal Policy
- 3.9 Automatic Stabilizers
- 4.1 Financial Assets
- 4.2 Nominal v. Real Interest Rates
- 4.4 Banking and the Expansion of the Money Supply
- 4.5 The Money Market
- 4.6 Monetary Policy
- 4.7 The Loanable Funds Market
- 5.1 Fiscal and Monetary Policy Actions in the Short Run
- 5.2 The Phillips Curve
- 5.3 Money Growth and Inflation
- 5.4 Government Deficits and the National Debt
- 5.5 Crowding Out
- 5.6 Economic Growth
- 5.7 Public Policy and Economic Growth
- 6.1 Balance of Payments Accounts
- 6.2 Exchange Rates
- 6.3 The Foreign Exchange Market
- 6.4 Effect of Changes in Policies and Economic Conditions on the Foreign Exchange Market
- 6.5 Changes in the Foreign Exchange Market and Net Exports
- 6.6 Real Interest Rates and International Capital Flows
Topic quizzes
- 1. Basic Economic Concepts
- 2. Economic Indicators and the Business Cycle
- 3. National Income and Price Determination
- 4. Financial Sector
- 5. Long-Run Consequences of Stabilization Policies
- 6. Open Economy—International Trade and Finance
Unit tests
- 1. Basic Economic Concepts
- 2. Economic Indicators and the Business Cycle
- 3. National Income and Price Determination
- 4. Financial Sector
- 5. Long-Run Consequences of Stabilization Policies
- 6. Open Economy—International Trade and Finance
Mock papers
Course companion
Glossary
Topic handouts
- 1.1 Scarcity
- 1.2 Opportunity Cost and the Production Possibilities Curve (PPC)
- 1.3 Comparative Advantage and Gains from Trade
- 1.4 Demand
- 1.5 Supply
- 1.6 Market Equilibrium, Disequilibrium, and Changes in Equilibrium
- 2.1 The Circular Flow and GDP
- 2.2 Limitations of GDP
- 2.3 Unemployment
- 2.4 Price Indices and Inflation
- 2.5 Costs of Inflation
- 2.6 Real v. Nominal GDP
- 2.7 Business Cycles
- 3.1 Aggregate Demand (AD)
- 3.2 Multipliers
- 3.3 Short-Run Aggregate Supply (SRAS)
- 3.4 Long-Run Aggregate Supply (LRAS)
- 3.5 Equilibrium in the Aggregate Demand–Aggregate Supply (AD–AS) Model
- 3.6 Changes in the AD–AS Model in the Short Run
- 3.7 Long-Run Self-Adjustment
- 3.8 Fiscal Policy
- 3.9 Automatic Stabilizers
- 4.1 Financial Assets
- 4.2 Nominal v. Real Interest Rates
- 4.3 Definition, Measurement, and Functions of Money
- 4.4 Banking and the Expansion of the Money Supply
- 4.5 The Money Market
- 4.6 Monetary Policy
- 4.7 The Loanable Funds Market
- 5.1 Fiscal and Monetary Policy Actions in the Short Run
- 5.2 The Phillips Curve
- 5.3 Money Growth and Inflation
- 5.4 Government Deficits and the National Debt
- 5.5 Crowding Out
- 5.6 Economic Growth
- 5.7 Public Policy and Economic Growth
- 6.1 Balance of Payments Accounts
- 6.2 Exchange Rates
- 6.3 The Foreign Exchange Market
- 6.4 Effect of Changes in Policies and Economic Conditions on the Foreign Exchange Market
- 6.5 Changes in the Foreign Exchange Market and Net Exports
- 6.6 Real Interest Rates and International Capital Flows
Lesson slides
- 1. Basic Economic Concepts
- 2. Economic Indicators and the Business Cycle
- 3. National Income and Price Determination
- 4. Financial Sector
- 5. Long-Run Consequences of Stabilization Policies
- 6. Open Economy—International Trade and Finance
Lesson slides
- 1.1 Scarcity
- 1.2 Opportunity Cost and the Production Possibilities Curve (PPC)
- 1.3 Comparative Advantage and Gains from Trade
- 1.4 Demand
- 1.5 Supply
- 1.6 Market Equilibrium, Disequilibrium, and Changes in Equilibrium
- 2.1 The Circular Flow and GDP
- 2.2 Limitations of GDP
- 2.3 Unemployment
- 2.4 Price Indices and Inflation
- 2.5 Costs of Inflation
- 2.6 Real v. Nominal GDP
- 2.7 Business Cycles
- 3.1 Aggregate Demand (AD)
- 3.2 Multipliers
- 3.3 Short-Run Aggregate Supply (SRAS)
- 3.4 Long-Run Aggregate Supply (LRAS)
- 3.5 Equilibrium in the Aggregate Demand–Aggregate Supply (AD–AS) Model
- 3.6 Changes in the AD–AS Model in the Short Run
- 3.7 Long-Run Self-Adjustment
- 3.8 Fiscal Policy
- 3.9 Automatic Stabilizers
- 4.1 Financial Assets
- 4.2 Nominal v. Real Interest Rates
- 4.3 Definition, Measurement, and Functions of Money
- 4.4 Banking and the Expansion of the Money Supply
- 4.5 The Money Market
- 4.6 Monetary Policy
- 4.7 The Loanable Funds Market
- 5.1 Fiscal and Monetary Policy Actions in the Short Run
- 5.2 The Phillips Curve
- 5.3 Money Growth and Inflation
- 5.4 Government Deficits and the National Debt
- 5.5 Crowding Out
- 5.6 Economic Growth
- 5.7 Public Policy and Economic Growth
- 6.1 Balance of Payments Accounts
- 6.2 Exchange Rates
- 6.3 The Foreign Exchange Market
- 6.4 Effect of Changes in Policies and Economic Conditions on the Foreign Exchange Market
- 6.5 Changes in the Foreign Exchange Market and Net Exports
- 6.6 Real Interest Rates and International Capital Flows
Vocabulary lists
- 1. Basic Economic Concepts
- 2. Economic Indicators and the Business Cycle
- 3. National Income and Price Determination
- 4. Financial Sector
- 5. Long-Run Consequences of Stabilization Policies
- 6. Open Economy—International Trade and Finance
Flashcards
Weekly vocab tests
- Week 1 · Topic 1 · Basic Economic Concepts
- Week 2 · Topic 2 · Economic Indicators and the Business Cycle
- Week 3 · Topics 2–4 · Economic Indicators and the Business Cycle, National Income and Price Determination, Financial Sector
- Week 4 · Topics 4–5 · Financial Sector, Long-Run Consequences of Stabilization Policies
- Week 5 · Topics 4–6 · Financial Sector, Long-Run Consequences of Stabilization Policies, Open Economy—International Trade and Finance
Weekly homework
Exercise sheets
- Complete pack — exercise sheets + past papers
- 1 Basic Economic Concepts — Part 1
- 1 Basic Economic Concepts — Part 2
- 2 Economic Indicators and the Business Cycle — Part 1
- 2 Economic Indicators and the Business Cycle — Part 2
- 3 National Income and Price Determination — Part 1
- 3 National Income and Price Determination — Part 2
- 4 Financial Sector — Part 1
- 4 Financial Sector — Part 2
- 5 Long-Run Consequences of Stabilization Policies — Part 1
- 5 Long-Run Consequences of Stabilization Policies — Part 2
- 6 Open Economy—International Trade and Finance — Part 1
- 6 Open Economy—International Trade and Finance — Part 2
Past papers
- 1.2 Opportunity Cost and the Production Possibilities Curve (PPC)
- 1.3 Comparative Advantage and Gains from Trade
- 2.1 The Circular Flow and GDP
- 2.2 Limitations of GDP
- 2.3 Unemployment
- 2.4 Price Indices and Inflation
- 2.5 Costs of Inflation
- 2.6 Real v. Nominal GDP
- 2.7 Business Cycles
- 3.1 Aggregate Demand (AD)
- 3.2 Multipliers
- 3.4 Long-Run Aggregate Supply (LRAS)
- 3.5 Equilibrium in the Aggregate Demand–Aggregate Supply (AD–AS) Model
- 3.6 Changes in the AD–AS Model in the Short Run
- 3.7 Long-Run Self-Adjustment
- 3.8 Fiscal Policy
- 3.9 Automatic Stabilizers
- 4.1 Financial Assets
- 4.2 Nominal v. Real Interest Rates
- 4.4 Banking and the Expansion of the Money Supply
- 4.5 The Money Market
- 4.6 Monetary Policy
- 4.7 The Loanable Funds Market
- 5.1 Fiscal and Monetary Policy Actions in the Short Run
- 5.2 The Phillips Curve
- 5.3 Money Growth and Inflation
- 5.4 Government Deficits and the National Debt
- 5.5 Crowding Out
- 5.6 Economic Growth
- 5.7 Public Policy and Economic Growth
- 6.1 Balance of Payments Accounts
- 6.2 Exchange Rates
- 6.3 The Foreign Exchange Market
- 6.4 Effect of Changes in Policies and Economic Conditions on the Foreign Exchange Market
- 6.5 Changes in the Foreign Exchange Market and Net Exports
- 6.6 Real Interest Rates and International Capital Flows
Tips
Work the released questions with the diagrams drawn every time, even when the prompt does not demand one. The diagram is how you keep a long chain of reasoning straight.
Write the chain out in full. The rubric gives a point per link, so compressing four steps into one sentence throws away marks you have already earned in your head.
Watch the direction of the question. Many prompts ask what happens to a specific variable — the real interest rate, net exports — and an otherwise perfect answer about GDP does not score.