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AP Microeconomics

Six units, eleven lessons.

Final test · 20 questionsMixed across all six units, in the style of the exam, with the answer explained after each question.
Unit 1Basic economic concepts
Micro 1You can't have it allMicro 11Why do you stop at the second taco?
Go deeperBehavioral 1Are you rational?Micro II 1Where does your demand curve come from?Micro II 2Is a price cut a raise?Math 8How do you choose with a budget?
Unit 2Supply and demand
Micro 2Why does the price stop there?Micro 3How much do buyers react?Micro 4Who gains, who loses?
Go deeperPolicy 3Can a law make rent cheaper?Policy 4Who really pays the soda tax?Policy 6Who pays for a tariff?Math 1Why is a demand curve a line?Math 2Where do two lines cross?Math 6How big is the triangle?Math 7Why does elasticity need a percentage?
Unit 3Production, cost and perfect competition
Micro 5Twice the bakers, twice the bread?Micro 6Who sets the price of strawberries?
Go deeperDigital 3Why does a movie cost nothing to copy but $15 to watch?Math 4What does “marginal” really mean?Micro II 5Does the second oven double the bread?
Unit 4Imperfect competition
Micro 7The only way up the mountainMicro 8Should you start a price war?
Go deeperGames 1Should you confess?Games 2Where do two ice-cream carts stand?Digital 6Are Amazon and Google monopolies?Math 5Where is the top of the hill?Micro II 6How many prices can one seller charge?Micro II 7What if there are only two farms?
Unit 5Factor markets
Micro 9What is an hour of work worth?
Go deeperPolicy 2Does a higher minimum wage cost jobs?Digital 8Is a driver an employee?Micro II 3Would you work more if your wage rose?
Unit 6Market failure and the role of government
Micro 10Who pays for the waste in the river?
Go deeperPolicy 5What is the right price of pollution?Policy 10Cash or help in kind?Games 6Why is the ocean running out of fish?Micro II 10Who pays for the lighthouse, and who owns the river?

AP Macroeconomics

Six units, eleven lessons plus Micro 1–2 for Unit 1.

Final test · 20 questionsMixed across all six units, in the style of the exam, with the answer explained after each question.
Unit 1Basic economic concepts
Micro 1You can't have it allMicro 2Why does the price stop there?
Unit 2Economic indicators and the business cycle
Macro 1How big is an economy?Macro 2Were your grandparents poorer?Macro 3Who counts as unemployed?
Go deeperData 4Real or nominal?
Unit 3National income and price determination
Macro 4Why does everything slow down at once?Macro 5Where does a dollar go?
Go deeperPolicy 8Should the government spend in a recession?Macro II 1Who decides how much the island makes?Macro II 2Why does a rate cut move the whole island?Macro II 3Who picks the rate, and who picks the output?Macro II 4Where does aggregate demand come from?
Unit 4The financial sector
Macro 6Where does money come from?Macro 7Who sets the interest rate?Macro 8Who pays for the deficit?
Go deeperDigital 9Is Bitcoin money?Math 9What is $110 next year worth today?Macro II 3Who picks the rate, and who picks the output?Macro II 7What happens when the rate hits zero?
Unit 5Long-run consequences of stabilization policies
Macro 8Who pays for the deficit?Macro 9Why not just print more money?Macro 10Why are some countries rich?
Go deeperPolicy 7How do you stop inflation?Policy 9How much debt is too much?Thinkers 6Is inflation always about money?Math 3How fast is it growing?Macro II 5Who sets the natural rate of unemployment?Macro II 6Can the Bank fool the island twice?Macro II 8Does the debt ever have to be repaid?Macro II 9Can an island save its way to riches?
Unit 6The open economy
Macro 11Why is your trip abroad cheaper this year?
Go deeperTrade 1Why does your phone come from three continents?Trade 4Is a trade deficit bad?Trade 5Why does the dollar go up and down?Macro II 10What does a rate hike do to the dollar?

IB Economics

Four units, SL and HL. IB papers ask for written answers, so there is no final test here: use each lesson's exercises and its one-page summary sheet.

Unit 1Introduction to economics
1.1–1.2What economics is and how economists think
Micro 1You can't have it allThinkers 1What is the invisible hand?Data 5Does ice cream cause drowning?
Unit 2Microeconomics
2.1–2.3Demand, supply and equilibrium
Micro 2Why does the price stop there?Math 1Why is a demand curve a line?Math 2Where do two lines cross?Micro II 1Where does your demand curve come from?
2.4Critique of maximizing behavior (HL)
Behavioral 1Are you rational?Behavioral 3Why does losing hurt more than winning feels good?Behavioral 9Can a nudge change the world?Micro II 4Would you take the coin flip?
2.5–2.6Elasticity
Micro 3How much do buyers react?Math 7Why does elasticity need a percentage?
2.7Government intervention
Micro 4Who gains, who loses?Policy 3Can a law make rent cheaper?Policy 4Who really pays the soda tax?Math 6How big is the triangle?
2.8–2.9Externalities, the commons and public goods
Micro 10Who pays for the waste in the river?Policy 5What is the right price of pollution?Games 6Why is the ocean running out of fish?Micro II 10Who pays for the lighthouse, and who owns the river?
2.10Asymmetric information (HL)
Games 8Why do peacocks have tails?Micro II 8Why is a used scooter so cheap?
2.11Market power (HL)
Micro 7The only way up the mountainMicro 8Should you start a price war?Digital 6Are Amazon and Google monopolies?Micro II 6How many prices can one seller charge?Micro II 7What if there are only two farms?
2.12Equity in markets
Policy 10Cash or help in kind?
Unit 3Macroeconomics
3.1Measuring economic activity
Macro 1How big is an economy?
3.2Aggregate demand and aggregate supply
Macro 4Why does everything slow down at once?Macro II 4Where does aggregate demand come from?Macro II 5Who sets the natural rate of unemployment?
3.3Growth, unemployment and inflation
Macro 10Why are some countries rich?Macro 3Who counts as unemployed?Macro 2Were your grandparents poorer?Math 3How fast is it growing?Macro II 6Can the Bank fool the island twice?Macro II 9Can an island save its way to riches?
3.4Inequality and poverty
Policy 10Cash or help in kind?Data 2Average of what?
3.5Monetary policy
Macro 6Where does money come from?Macro 7Who sets the interest rate?Macro II 3Who picks the rate, and who picks the output?Macro II 7What happens when the rate hits zero?
3.6Fiscal policy
Macro 5Where does a dollar go?Policy 8Should the government spend in a recession?Policy 9How much debt is too much?Macro II 1Who decides how much the island makes?Macro II 8Does the debt ever have to be repaid?
3.7Supply-side policies
Macro 10Why are some countries rich?
Unit 4The global economy
4.1The benefits of trade
Trade 1Why does your phone come from three continents?Trade 2Who loses when the factory moves?
4.2–4.3Trade protection and the arguments about it
Trade 3Tariff, quota or subsidy?Policy 6Who pays for a tariff?
4.4Economic integration
Trade 9Do trade agreements matter?
4.5Exchange rates
Macro 11Why is your trip abroad cheaper this year?Trade 5Why does the dollar go up and down?Trade 6Should a country fix its exchange rate?Macro II 10What does a rate hike do to the dollar?
4.6The balance of payments
Trade 4Is a trade deficit bad?
4.7–4.8Sustainable development and how to measure it
Development 1What does $3 a day mean?
4.9Barriers to growth and development
Development 2Geography, history or institutions?Development 3Why do poor families have many children, and then fewer?Development 6Why do farmers stay poor?Development 7Why are schools full but learning empty?Development 8Why is corruption so hard to beat?Trade 8Can a country be too rich in oil?
4.10Strategies for growth and development
Development 4Does foreign aid work?Development 5Can a $100 loan change a life?Development 9Can a poor country skip a stage?Trade 7How did China grow so fast?

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