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AP®︎/College Microeconomics

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Unit 1: Basic Economic Concepts

Scarcity: Basic Economic ConceptsResource Allocation and Economic Systems: Basic Economic ConceptsProduction possibilities curve (PPC): Basic Economic Concepts
Comparative advantage and trade: Basic Economic ConceptsCost-benefit analysis: Basic Economic ConceptsMarginal analysis and consumer choice: Basic Economic Concepts

Unit 2: Supply and Demand

Demand: Supply and DemandSupply: Supply and DemandPrice elasticity of demand: Supply and DemandPrice elasticity of supply: Supply and Demand
Other elasticities: Supply and DemandMarket equilibrium and consumer and producer surplus: Supply and DemandDisequilibrium and changes in equilibrium: Supply and DemandThe effects of government interventions in markets: Supply and DemandInternational trade and public policy: Supply and Demand

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

The production function: Production, cost, and the perfect competition modelShort-run production costs: Production, cost, and the perfect competition modelLong-run production costs: Production, cost, and the perfect competition model
Types of profit: Production, cost, and the perfect competition modelProfit maximization: Production, cost, and the perfect competition modelFirms’ Short-run Decisions to Produce and Long-Run Decisions to Enter or Exit a Market: Production, cost, and the perfect competition modelPerfect competition: Production, cost, and the perfect competition model

Unit 4: Imperfect competition

Introduction to imperfect competition: Imperfect competitionMonopoly: Imperfect competitionPrice discrimination: Imperfect competition
Monopolistic competition: Imperfect competitionOligopoly and game theory: Imperfect competition

Unit 5: Factor markets

Introduction to factor markets: Factor marketsChanges in factor demand and supply: Factor marketsProfit-maximizing behavior in perfectly competitive factor markets: Factor markets
Monopsonistic markets: Factor markets

Unit 6: Market failure and the role of government

Socially efficient and inefficient market outcomes: Market failure and the role of governmentExternalities: Market failure and the role of governmentPublic and private goods: Market failure and the role of government
The effects of government intervention in different market structures: Market failure and the role of governmentInequality: Market failure and the role of government

Unit 7: AP®︎ Microeconomics Standards mappings

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See how our course content aligns with AP®︎ Microeconomics standards: AP®︎ Microeconomics Standards mappings
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