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AP Macroeconomics
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Downloads
- Course & Exam Description 2-up
- Revision Sheet 2-up
- Syllabus Checklist 2-up
- Scheme of Work
- Exam Technique 2-up
- Command Words — A3 poster
- Lesson Plans — one page per topic 2-up
- 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
- 2.1 The Circular Flow and GDP Past-paper walk-through
- 2.2 Limitations of GDP Past-paper walk-through
- 2.3 Unemployment Past-paper walk-through
- 2.4 Price Indices and Inflation Past-paper walk-through
- 2.5 Costs of Inflation Past-paper walk-through
- 2.6 Real v. Nominal GDP Past-paper walk-through
- 2.7 Business Cycles Past-paper walk-through
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) Past-paper walk-through
- 3.2 Multipliers Past-paper walk-through
- 3.3 Short-Run Aggregate Supply (SRAS)
- 3.4 Long-Run Aggregate Supply (LRAS) Past-paper walk-through
- 3.5 Equilibrium in the Aggregate Demand–Aggregate Supply (AD–AS) Model Past-paper walk-through
- 3.6 Changes in the AD–AS Model in the Short Run Past-paper walk-through
- 3.7 Long-Run Self-Adjustment Past-paper walk-through
- 3.8 Fiscal Policy Past-paper walk-through
- 3.9 Automatic Stabilizers Past-paper walk-through
Vocabulary
Topic Quizzes
Exercise sheets
- 3.1 Aggregate Demand (AD) 2-up
- 3.2 Multipliers 2-up
- 3.3 Short-Run Aggregate Supply (SRAS) 2-up
- 3.4 Long-Run Aggregate Supply (LRAS) 2-up
- 3.5 Equilibrium in the Aggregate Demand–Aggregate Supply (AD–AS) Model 2-up
- 3.6 Changes in the AD–AS Model in the Short Run 2-up
- 3.7 Long-Run Self-Adjustment 2-up
- 3.8 Fiscal Policy 2-up
- 3.9 Automatic Stabilizers 2-up
Past Paper Questions
- 3.1 Aggregate Demand (AD) 2-upAnswers2-up
- 3.2 Multipliers 2-upAnswers2-up
- 3.4 Long-Run Aggregate Supply (LRAS) 2-upAnswers2-up
- 3.5 Equilibrium in the Aggregate Demand–Aggregate Supply (AD–AS) Model 2-upAnswers2-up
- 3.6 Changes in the AD–AS Model in the Short Run 2-upAnswers2-up
- 3.7 Long-Run Self-Adjustment 2-upAnswers2-up
- 3.8 Fiscal Policy 2-upAnswers2-up
- 3.9 Automatic Stabilizers 2-upAnswers2-up
4. Financial Sector 25 files
Handouts
Presentation slides
Exercise walk-through slides
- 4.1 Financial Assets Past-paper walk-through
- 4.2 Nominal v. Real Interest Rates Past-paper walk-through
- 4.3 Definition, Measurement, and Functions of Money
- 4.4 Banking and the Expansion of the Money Supply Past-paper walk-through
- 4.5 The Money Market Past-paper walk-through
- 4.6 Monetary Policy Past-paper walk-through
- 4.7 The Loanable Funds Market Past-paper walk-through
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
- 5.1 Fiscal and Monetary Policy Actions in the Short Run Past-paper walk-through
- 5.2 The Phillips Curve Past-paper walk-through
- 5.3 Money Growth and Inflation Past-paper walk-through
- 5.4 Government Deficits and the National Debt Past-paper walk-through
- 5.5 Crowding Out Past-paper walk-through
- 5.6 Economic Growth Past-paper walk-through
- 5.7 Public Policy and Economic Growth Past-paper walk-through
Topic Quizzes
Exercise sheets
Past Paper Questions
- 5.1 Fiscal and Monetary Policy Actions in the Short Run 2-upAnswers2-up
- 5.2 The Phillips Curve 2-upAnswers2-up
- 5.3 Money Growth and Inflation 2-upAnswers2-up
- 5.4 Government Deficits and the National Debt 2-upAnswers2-up
- 5.5 Crowding Out 2-upAnswers2-up
- 5.6 Economic Growth 2-upAnswers2-up
- 5.7 Public Policy and Economic Growth 2-upAnswers2-up
6. Open Economy—International Trade and Finance 23 files
Presentation slides
Exercise walk-through slides
- 6.1 Balance of Payments Accounts Past-paper walk-through
- 6.2 Exchange Rates Past-paper walk-through
- 6.3 The Foreign Exchange Market Past-paper walk-through
- 6.4 Effect of Changes in Policies and Economic Conditions on the Foreign Exchange Market Past-paper walk-through
- 6.5 Changes in the Foreign Exchange Market and Net Exports Past-paper walk-through
- 6.6 Real Interest Rates and International Capital Flows Past-paper walk-through
Topic Quizzes
Exercise sheets
- 6.1 Balance of Payments Accounts 2-up
- 6.2 Exchange Rates 2-up
- 6.3 The Foreign Exchange Market 2-up
- 6.4 Effect of Changes in Policies and Economic Conditions on the Foreign Exchange Market 2-up
- 6.5 Changes in the Foreign Exchange Market and Net Exports 2-up
- 6.6 Real Interest Rates and International Capital Flows 2-up
Past Paper Questions
- 6.1 Balance of Payments Accounts 2-upAnswers2-up
- 6.2 Exchange Rates 2-upAnswers2-up
- 6.3 The Foreign Exchange Market 2-upAnswers2-up
- 6.4 Effect of Changes in Policies and Economic Conditions on the Foreign Exchange Market 2-upAnswers2-up
- 6.5 Changes in the Foreign Exchange Market and Net Exports 2-upAnswers2-up
- 6.6 Real Interest Rates and International Capital Flows 2-upAnswers2-up
2026 1 files
- 2026 Questions
- AP Macroeconomics — Question index 2-up
- 1.2 Opportunity Cost and the Production Possibilities Curve (PPC) 2-upAnswers2-up
- 1.3 Comparative Advantage and Gains from Trade 2-upAnswers2-up
- 2.1 The Circular Flow and GDP 2-upAnswers2-up
- 2.2 Limitations of GDP 2-upAnswers2-up
- 2.3 Unemployment 2-upAnswers2-up
- 2.4 Price Indices and Inflation 2-upAnswers2-up
- 2.5 Costs of Inflation 2-upAnswers2-up
- 2.6 Real v. Nominal GDP 2-upAnswers2-up
- 2.7 Business Cycles 2-upAnswers2-up
- 3.1 Aggregate Demand (AD) 2-upAnswers2-up
- 3.2 Multipliers 2-upAnswers2-up
- 3.4 Long-Run Aggregate Supply (LRAS) 2-upAnswers2-up
- 3.5 Equilibrium in the Aggregate Demand–Aggregate Supply (AD–AS) Model 2-upAnswers2-up
- 3.6 Changes in the AD–AS Model in the Short Run 2-upAnswers2-up
- 3.7 Long-Run Self-Adjustment 2-upAnswers2-up
- 3.8 Fiscal Policy 2-upAnswers2-up
- 3.9 Automatic Stabilizers 2-upAnswers2-up
- 4.1 Financial Assets 2-upAnswers2-up
- 4.2 Nominal v. Real Interest Rates 2-upAnswers2-up
- 4.4 Banking and the Expansion of the Money Supply 2-upAnswers2-up
- 4.5 The Money Market 2-upAnswers2-up
- 4.6 Monetary Policy 2-upAnswers2-up
- 4.7 The Loanable Funds Market 2-upAnswers2-up
- 5.1 Fiscal and Monetary Policy Actions in the Short Run 2-upAnswers2-up
- 5.2 The Phillips Curve 2-upAnswers2-up
- 5.3 Money Growth and Inflation 2-upAnswers2-up
- 5.4 Government Deficits and the National Debt 2-upAnswers2-up
- 5.5 Crowding Out 2-upAnswers2-up
- 5.6 Economic Growth 2-upAnswers2-up
- 5.7 Public Policy and Economic Growth 2-upAnswers2-up
- 6.1 Balance of Payments Accounts 2-upAnswers2-up
- 6.2 Exchange Rates 2-upAnswers2-up
- 6.3 The Foreign Exchange Market 2-upAnswers2-up
- 6.4 Effect of Changes in Policies and Economic Conditions on the Foreign Exchange Market 2-upAnswers2-up
- 6.5 Changes in the Foreign Exchange Market and Net Exports 2-upAnswers2-up
- 6.6 Real Interest Rates and International Capital Flows 2-upAnswers2-up
Topic quizzes
- 1. Basic Economic Concepts 2-up
- 2. Economic Indicators and the Business Cycle 2-up
- 3. National Income and Price Determination 2-up
- 4. Financial Sector 2-up
- 5. Long-Run Consequences of Stabilization Policies 2-up
- 6. Open Economy—International Trade and Finance 2-up
Unit tests
- 1. Basic Economic Concepts 2-upAnswers2-up
- 2. Economic Indicators and the Business Cycle 2-upAnswers2-up
- 3. National Income and Price Determination 2-upAnswers2-up
- 4. Financial Sector 2-upAnswers2-up
- 5. Long-Run Consequences of Stabilization Policies 2-upAnswers2-up
- 6. Open Economy—International Trade and Finance 2-upAnswers2-up
Mock papers
Course companion
Glossary
Topic handouts
- 1.1 Scarcity 2-up
- 1.2 Opportunity Cost and the Production Possibilities Curve (PPC) 2-up
- 1.3 Comparative Advantage and Gains from Trade 2-up
- 1.4 Demand 2-up
- 1.5 Supply 2-up
- 1.6 Market Equilibrium, Disequilibrium, and Changes in Equilibrium 2-up
- 2.1 The Circular Flow and GDP 2-up
- 2.2 Limitations of GDP 2-up
- 2.3 Unemployment 2-up
- 2.4 Price Indices and Inflation 2-up
- 2.5 Costs of Inflation 2-up
- 2.6 Real v. Nominal GDP 2-up
- 2.7 Business Cycles 2-up
- 3.1 Aggregate Demand (AD) 2-up
- 3.2 Multipliers 2-up
- 3.3 Short-Run Aggregate Supply (SRAS) 2-up
- 3.4 Long-Run Aggregate Supply (LRAS) 2-up
- 3.5 Equilibrium in the Aggregate Demand–Aggregate Supply (AD–AS) Model 2-up
- 3.6 Changes in the AD–AS Model in the Short Run 2-up
- 3.7 Long-Run Self-Adjustment 2-up
- 3.8 Fiscal Policy 2-up
- 3.9 Automatic Stabilizers 2-up
- 4.1 Financial Assets 2-up
- 4.2 Nominal v. Real Interest Rates 2-up
- 4.3 Definition, Measurement, and Functions of Money 2-up
- 4.4 Banking and the Expansion of the Money Supply 2-up
- 4.5 The Money Market 2-up
- 4.6 Monetary Policy 2-up
- 4.7 The Loanable Funds Market 2-up
- 5.1 Fiscal and Monetary Policy Actions in the Short Run 2-up
- 5.2 The Phillips Curve 2-up
- 5.3 Money Growth and Inflation 2-up
- 5.4 Government Deficits and the National Debt 2-up
- 5.5 Crowding Out 2-up
- 5.6 Economic Growth 2-up
- 5.7 Public Policy and Economic Growth 2-up
- 6.1 Balance of Payments Accounts 2-up
- 6.2 Exchange Rates 2-up
- 6.3 The Foreign Exchange Market 2-up
- 6.4 Effect of Changes in Policies and Economic Conditions on the Foreign Exchange Market 2-up
- 6.5 Changes in the Foreign Exchange Market and Net Exports 2-up
- 6.6 Real Interest Rates and International Capital Flows 2-up
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) Past-paper walk-through
- 1.3 Comparative Advantage and Gains from Trade Past-paper walk-through
- 1.4 Demand
- 1.5 Supply
- 1.6 Market Equilibrium, Disequilibrium, and Changes in Equilibrium
- 2.1 The Circular Flow and GDP Past-paper walk-through
- 2.2 Limitations of GDP Past-paper walk-through
- 2.3 Unemployment Past-paper walk-through
- 2.4 Price Indices and Inflation Past-paper walk-through
- 2.5 Costs of Inflation Past-paper walk-through
- 2.6 Real v. Nominal GDP Past-paper walk-through
- 2.7 Business Cycles Past-paper walk-through
- 3.1 Aggregate Demand (AD) Past-paper walk-through
- 3.2 Multipliers Past-paper walk-through
- 3.3 Short-Run Aggregate Supply (SRAS)
- 3.4 Long-Run Aggregate Supply (LRAS) Past-paper walk-through
- 3.5 Equilibrium in the Aggregate Demand–Aggregate Supply (AD–AS) Model Past-paper walk-through
- 3.6 Changes in the AD–AS Model in the Short Run Past-paper walk-through
- 3.7 Long-Run Self-Adjustment Past-paper walk-through
- 3.8 Fiscal Policy Past-paper walk-through
- 3.9 Automatic Stabilizers Past-paper walk-through
- 4.1 Financial Assets Past-paper walk-through
- 4.2 Nominal v. Real Interest Rates Past-paper walk-through
- 4.3 Definition, Measurement, and Functions of Money
- 4.4 Banking and the Expansion of the Money Supply Past-paper walk-through
- 4.5 The Money Market Past-paper walk-through
- 4.6 Monetary Policy Past-paper walk-through
- 4.7 The Loanable Funds Market Past-paper walk-through
- 5.1 Fiscal and Monetary Policy Actions in the Short Run Past-paper walk-through
- 5.2 The Phillips Curve Past-paper walk-through
- 5.3 Money Growth and Inflation Past-paper walk-through
- 5.4 Government Deficits and the National Debt Past-paper walk-through
- 5.5 Crowding Out Past-paper walk-through
- 5.6 Economic Growth Past-paper walk-through
- 5.7 Public Policy and Economic Growth Past-paper walk-through
- 6.1 Balance of Payments Accounts Past-paper walk-through
- 6.2 Exchange Rates Past-paper walk-through
- 6.3 The Foreign Exchange Market Past-paper walk-through
- 6.4 Effect of Changes in Policies and Economic Conditions on the Foreign Exchange Market Past-paper walk-through
- 6.5 Changes in the Foreign Exchange Market and Net Exports Past-paper walk-through
- 6.6 Real Interest Rates and International Capital Flows Past-paper walk-through
Vocabulary lists
- 1. Basic Economic Concepts 2-up
- 2. Economic Indicators and the Business Cycle 2-up
- 3. National Income and Price Determination 2-up
- 4. Financial Sector 2-up
- 5. Long-Run Consequences of Stabilization Policies 2-up
- 6. Open Economy—International Trade and Finance
Flashcards
Weekly vocab tests
- Week 1 · Topic 1 · Basic Economic Concepts 2-upAnswer key
- Week 2 · Topic 2 · Economic Indicators and the Business Cycle 2-upAnswer key
- Week 3 · Topics 2–4 · Economic Indicators and the Business Cycle, National Income and Price Determination, Financial Sector 2-upAnswer key
- Week 4 · Topics 4–5 · Financial Sector, Long-Run Consequences of Stabilization Policies 2-upAnswer key
- Week 5 · Topics 4–6 · Financial Sector, Long-Run Consequences of Stabilization Policies, Open Economy—International Trade and Finance 2-upAnswer key
Weekly homework
Exercise sheets
- Complete pack — exercise sheets + past papers 2-up
- 1 Basic Economic Concepts — Part 1 2-upAnswer key
- 1 Basic Economic Concepts — Part 2 2-upAnswer key
- 2 Economic Indicators and the Business Cycle — Part 1 2-upAnswer key
- 2 Economic Indicators and the Business Cycle — Part 2 2-upAnswer key
- 3 National Income and Price Determination — Part 1 2-upAnswer key
- 3 National Income and Price Determination — Part 2 2-upAnswer key
- 4 Financial Sector — Part 1 2-upAnswer key
- 4 Financial Sector — Part 2 2-upAnswer key
- 5 Long-Run Consequences of Stabilization Policies — Part 1 2-upAnswer key
- 5 Long-Run Consequences of Stabilization Policies — Part 2 2-upAnswer key
- 6 Open Economy—International Trade and Finance — Part 1 2-upAnswer key
- 6 Open Economy—International Trade and Finance — Part 2 2-upAnswer key
Past papers
- 1.2 Opportunity Cost and the Production Possibilities Curve (PPC) Answers
- 1.3 Comparative Advantage and Gains from Trade Answers
- 2.1 The Circular Flow and GDP Answers
- 2.2 Limitations of GDP Answers
- 2.3 Unemployment Answers
- 2.4 Price Indices and Inflation Answers
- 2.5 Costs of Inflation Answers2-up
- 2.6 Real v. Nominal GDP Answers
- 2.7 Business Cycles Answers
- 3.1 Aggregate Demand (AD) Answers2-up
- 3.2 Multipliers Answers
- 3.4 Long-Run Aggregate Supply (LRAS) Answers2-up
- 3.5 Equilibrium in the Aggregate Demand–Aggregate Supply (AD–AS) Model Answers2-up
- 3.6 Changes in the AD–AS Model in the Short Run Answers
- 3.7 Long-Run Self-Adjustment Answers2-up
- 3.8 Fiscal Policy Answers2-up
- 3.9 Automatic Stabilizers Answers
- 4.1 Financial Assets Answers2-up
- 4.2 Nominal v. Real Interest Rates Answers
- 4.4 Banking and the Expansion of the Money Supply Answers2-up
- 4.5 The Money Market Answers2-up
- 4.6 Monetary Policy Answers2-up
- 4.7 The Loanable Funds Market Answers2-up
- 5.1 Fiscal and Monetary Policy Actions in the Short Run Answers
- 5.2 The Phillips Curve Answers2-up
- 5.3 Money Growth and Inflation Answers2-up
- 5.4 Government Deficits and the National Debt Answers
- 5.5 Crowding Out Answers2-up
- 5.6 Economic Growth Answers2-up
- 5.7 Public Policy and Economic Growth Answers
- 6.1 Balance of Payments Accounts Answers2-up
- 6.2 Exchange Rates Answers
- 6.3 The Foreign Exchange Market Answers2-up
- 6.4 Effect of Changes in Policies and Economic Conditions on the Foreign Exchange Market Answers2-up
- 6.5 Changes in the Foreign Exchange Market and Net Exports Answers
- 6.6 Real Interest Rates and International Capital Flows Answers2-up
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.