AP Microeconomics

What Students Learn

Students analyze choices made by consumers and firms under resource constraints and examine how prices and output are determined. They compare firm behavior across market structures and study factor markets and externalities, using graphs to evaluate resource allocation and policy outcomes.

Course Units

The units and learning focuses below follow the official AP course framework.

Unit 1: Basic economic concepts

Unit 2: Supply and demand

Unit 3: Production, cost, and the perfect competition model

Unit 4: Imperfect competition

Unit 5: Factor markets

Unit 6: Market failure and the role of government

AP Assessment

The AP exam includes 60 multiple-choice questions in 70 minutes, worth approximately two-thirds of the score, and three free-response questions in 60 minutes, including a 10-minute reading period, worth approximately one-third. One long response and two short responses assess market and firm models through graphs and calculations, with explanations of incentives and their effects on market outcomes.

References (2026–2027): College Board course framework; assessment information