Advanced Placement Microeconomics (AP Microeconomics) is a course for students interested in college-level work in microeconomics and/or gaining advanced standing in college. The course begins with a study of fundamental economic concepts such as scarcity, opportunity costs, production possibilities, specialization, and comparative advantage. Major topics include the nature of functions of product markets; factor markets; and efficiency, equity, and the role of government.
Topics outline
Basic Economic Concepts
The Nature and Functions of Product Markets
Factor Markets
Market Failure and the Role of Government
The exam
Multiple Choice [70 minutes, weighted 2/3 of the total exam score]
Free-Response [50 minutes, one 25 minute essay, two 12.5 minute essays, weighted 1/3 of the total exam score]
Grade distribution
In the 2010 administration, 51,601 students took the exam. In the 2009 administration, 46,272 students took the exam from 2,320 schools.
The grade distribution for 2010 and 2009 were:
| 5 | 17.9% | 16.6% |
| 4 | 27.4% | 27.0% |
| 3 | 19.7% | 20.2% |
| 2 | 14.6% | 14.8% |
| 1 | 20.4% | 21.4% |
| Mean Score | 3.08 | 3.02 |