{{Short description|Advanced Placement course}} {{Multiple issues| {{Primary sources|date=March 2025}} {{More citations needed|date=April 2011}} }} {{Advanced Placement}}
'''Advanced Placement''' ('''AP''') '''Microeconomics''' (also known as '''AP Micro''' and '''AP Microecon''') is a course offered by the College Board as part of the Advanced Placement Program for high school students interested in college-level coursework 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 and functions of product markets; factor markets; and efficiency, equity, and the role of government.<ref>{{Cite web |title=Course Description of AP Microeconomics |pages=6–8 |url=http://apcentral.collegeboard.com/apc/public/repository/ap-economics-course-description.pdf |date = 2012 |access-date = 1 January 2012 }}</ref> AP Microeconomics is often taken in conjunction with or after AP Macroeconomics.{{citation needed|date=May 2022}}
==Topics outline and distribution of topics== Topics covered in the AP Microeconomics course and exam include:<ref>{{Cite web|title=Course Description of AP Microeconomics|pages=9–10|url=http://apcentral.collegeboard.com/apc/public/repository/ap-economics-course-description.pdf|date = 2012|access-date = 1 January 2012}}</ref> {| class="wikitable" ! align="center" |Unit ! align="center" |Topic ! align="center" |Exam Weighting |- align="center" |1 |Basic Economic Concepts (Scarcity, Resource allocation and economic systems, The Production Possibilities Curve, Comparative advantage and gains from trade, Cost-benefit analysis, Marginal analysis and consumer choice) |12–15% |- align="center" |2 |Supply and Demand (Demand, Supply, Elasticity, Market equilibrium, disequilibrium, and changes in equilibrium, effects of government intervention in markets, International trade and public policy) |20–25% |- align="center" |3 |Production, Cost, and the Perfect Competition Model (The production function, Short- and long-run production costs, Types of profit, Profit maximization, Perfect competition) |22–25% |- align="center" |4 |Imperfect Competition(Monopoly, Price discrimination, Monopolistic competition, Oligopoly and game theory) |15–22% |- align="center" |5 |Factor Markets (Introduction to factor markets, Changes in factor demand and factor supply, Profit-maximizing behavior in perfectly competitive factor markets, Monopsonistic markets) |10–13% |- align="center" |6 |Market Failure and the Role of the Government (Socially efficient and inefficient market outcomes, Externalities, Public and private goods, The effects of government intervention in different market structures, Income and wealth inequality) |8–13% |}
==The exam==
*'''Multiple Choice:''' Students are given 70 minutes to complete 60 multiple choice questions which are weighted 2/3 (66.7%) of the total exam score. *'''Free-Response:''' Students are allotted 10 minutes of planning then 50 minutes of writing for one long free-response question (weighted 50% of section score) and two short ones (weighted 25% section score each).<ref>{{Cite web |title=Course Description of AP Microeconomics |page=5 |url=http://apcentral.collegeboard.com/apc/public/repository/ap-economics-course-description.pdf |date = 2012 |access-date = 1 January 2012 }}</ref> *2026 Exam Date: Monday, May 4, 12 PM Local.<ref>{{Cite web |title=AP Microeconomics – AP Students {{!}} College Board |url=https://apstudents.collegeboard.org/courses/ap-microeconomics |access-date=2026-01-25 |website=apstudents.collegeboard.org}}</ref>
==Score distribution== 94,772 students took the AP Microeconomics exam in 2023.<ref name=":0" />
The exam was first held in 1989, along with Macroeconomics. Grade distributions since 2015 are as follows: {|class="wikitable" !Score !2015<ref>"[https://reports.collegeboard.org/media/pdf/Student-Score-Distributions-2015_1.pdf Student Score Distributions]" (PDF). Retrieved June 1, 2024.</ref> !2016<ref>"[https://reports.collegeboard.org/media/pdf/Student-Score-Distributions-2016_1.pdf Student Score Distributions]" (PDF). Retrieved June 1, 2024.</ref> !2017<ref>"[https://reports.collegeboard.org/media/pdf/Student-Score-Distributions-2017_1.pdf Student Score Distributions]" (PDF). Retrieved June 1, 2024.</ref> !2018<ref>{{cite web|url=https://secure-media.collegeboard.org/digitalServices/pdf/research/2018/Student-Score-Distributions-2018.pdf | title=Student Score Distributions, AP Exams - May 2018 | website=The College Board | access-date=December 24, 2022}}</ref> !2019<ref>"[https://reports.collegeboard.org/media/pdf/Student-Score-Distributions-2019_1.pdf Student Score Distributions]" (PDF). Retrieved June 1, 2024.</ref> !2020<ref>{{Cite web|title=STUDENT SCORE DISTRIBUTIONS|url=https://secure-media.collegeboard.org/digitalServices/pdf/research/2020/Student-Score-Distributions-2020.pdf|access-date=June 9, 2021}}</ref> !2021<ref>"[https://reports.collegeboard.org/media/pdf/2021-ap-student-score-distributions_1.pdf Student Score Distributions]" (PDF). Retrieved October 1, 2023.</ref> !2022<ref>"[https://apcentral.collegeboard.org/media/pdf/ap-score-distributions-by-subject-2022.pdf Student Score Distributions]" (PDF). Retrieved October 1, 2023.</ref> !2023<ref name=":0">"[https://apcentral.collegeboard.org/media/pdf/ap-score-distributions-by-subject-2023.pdf Student Score Distributions]" (PDF). Retrieved June 1, 2024.</ref> !2024<ref>"[https://apstudents.collegeboard.org/about-ap-scores/score-distributions 2024 AP Score Distributions]". Retrieved April 27, 2026.</ref><ref>"[https://apcentral.collegeboard.org/media/pdf/ap-score-distributions-by-subject-2024.pdf Student Score Distributions]" (PDF). Retrieved April 27, 2026.</ref> !2025<ref>{{Cite web |title=2025 AP Score Distributions |url=https://apstudents.collegeboard.org/about-ap-scores/score-distributions |archive-url=https://web.archive.org/web/20260427223414/https://apstudents.collegeboard.org/about-ap-scores/score-distributions |archive-date=April 27, 2026 |access-date=April 27, 2026}}</ref><ref>"[https://apcentral.collegeboard.org/media/pdf/ap-score-distributions-by-subject-2025.pdf Student Score Distributions]" (PDF). Retrieved April 27, 2026.</ref> |-align="center" !|5 |19.1% |17.8% |23.5% |19.2% |24.3% |23.3% |18.5% |17.7% |21.3% |22.9% |21.6% |-align="center" !|4 |28.6% |27.5% |28.1% |28% |28.1% |29.0% |24.0% |22.5% |26.0% |23.9% |24% |-align="center" !|3 |19.4% |22.0% |18.0% |20.2% |17.2% |16.6% |16.6% |18.8% |20.6% |20.8% |22.6% |-align="center" !|2 |13.8% |13.7% |12.0% |15.8% |12.0% |14.2% |17.0% |16.9% |19.9% |19.2% |20.3% |-align="center" !|1 |19.1% |19.0% |18.5% |16.8% |18.4% |16.9% |23.9% |24.2% |12.1% |13.2% |11.5% |-align="center" !|% of scores 3 or higher |67.1% |67.3% |69.5% |67.4% |69.6% |68.9% |59.1% |59.0% |68% |67.6% |68.2% |-align="center" !|Mean |3.15 |3.11 |3.26 |3.17 |3.28 |3.28 |2.96 |2.93 |3.25 |3.24 |3.24 |-align="center" !|Standard deviation |1.39 |1.37 |1.42 |1.36 |1.42 |1.40 |1.45 |1.44 |1.32 |1.35 |1.31 |- !Number of Students |78,408 |82,388 |87,858 |90,032 |91,551 |82,415 |80,199 |84,386 |94,772 |103,809 |117,548 |}
==See also== *AP Macroeconomics *Microeconomics *Economics *{{slink|Economics education#Curriculum}} *Glossary of economics
== References == {{Reflist}}
==External links== *[https://web.archive.org/web/20060711174351/http://www.collegeboard.com/student/testing/ap/sub_miceco.html?micro AP: Microeconomics] ==Study Resources== * {{cite book |last1=Anderson |first1=David |last2=Ray |first2=Margaret |title=Krugman's Economics for the AP Course |date=2019 |publisher=BFW |location=New York |isbn=978-1-319-11327-8 |edition=3rd |url=https://www.highschool.bfwpub.com/Catalog/product/krugmanseconomicsfortheapcourse-thirdedition-anderson}} *Free online AP Microeconomics course taught by Prof. Jon Gruber (MIT): https://www.edx.org/course/introductory-ap-microeconomics
{{College Board}}
Category:Economics education Category:Advanced Placement