Hey! Junior here studying for the AP Economics exam. Could somebody enlighten me regarding what to expect in the exam? Anything special I should anticipate or focus on in my prep?
The AP Economics exam actually consists of two parts: the AP Microeconomics exam and the AP Macroeconomics exam. Each exam lasts for 2 hours and 10 minutes and is divided into two sections: multiple-choice questions and free-response questions.
In the multiple-choice section, you'll have 70 minutes to answer 60 questions which account for 66% of your total score. Questions in this section are framed more conceptually, so you'll need to have a solid understanding of economic theory and principles, as well as the ability to apply these concepts to specific scenarios.
The free-response section includes one long-question and two shorter ones to be completed in 60 minutes. These constitute 33% of your total score. The questions are designed to evaluate your ability to analyze unique scenarios using economic concepts.
As for what to focus on, it depends on whether you're studying for Microeconomics or Macroeconomics:
- For Microeconomics, key topics include supply and demand, market equilibrium, consumer and producer surplus, and different market structures like perfect competition, monopolies, and oligopolies.
- For Macroeconomics, the focus should be on national income and price determination, economic indicators, inflation, unemployment, economic growth, fiscal and monetary policy, and international economics.
Practice is key. Make use of released practice questions from the College Board and consider answering questions from the past years' tests to get a feel for the exam format and types of questions asked. Work on familiarizing yourself with key economic graphs, as these are often the basis of both multiple-choice and free-response questions.
Lastly, remember that your grade from the AP course itself is what colleges will primarily focus on, so your study habits and understanding of the coursework throughout the year are most important. The score from the AP exam can earn you college credit, but it doesn't hold as much weight in the college admissions process. Good luck with your prep!
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