The purpose of an AP course in Microeconomics is to give students a thorough understanding of the principles of economics that apply to the functions of individual decision makers, both consumers and producers, within the larger economic system. It places primary emphasis on the nature and functions of product markets, and includes the study of factor markets and of the role of government in promoting greater efficiency and equity in the economy. The following are topics to be included in the course.

I. Basic Economic Concepts

II. The Nature and Functions of Product Markets

III. Factor Markets

IV. Efficiency, Equity, and the Role of Government

Last Revised: July 20, 2005