Specification points
College Board AP Microeconomics microeconomics
80 points in 6 topics, with College Board's codes and titles.
Codes and titles are read by a script from College Board's published specification and have not been checked by a person. What each point covers is in the specification itself: College Board’s specification.
1 Basic Economic Concepts
- 1.1 Scarcity
- MKT-1.A Resources and scarcity
- 1.2 Resource Allocation and Economic Systems
- MKT-1.B Economic systems and resource allocation
- 1.3 Production Possibilities Curve
- MKT-1.C The production possibilities curve
- 1.4 Comparative Advantage and Trade
- MKT-2.A Absolute and comparative advantage
- MKT-2.B Specialisation, terms of trade and gains from trade
- 1.5 Cost-Benefit Analysis
- CBA-1.A Opportunity cost
- CBA-1.B Comparing total benefits and total costs
- 1.6 Marginal Analysis and Consumer Choice
- CBA-2.A Consumer choice theory
- CBA-2.B Marginal analysis
2 Supply and Demand
- 2.1 Demand
- MKT-3.A Demand and the law of demand
- MKT-3.B Buyers’ responses to incentives and constraints
- 2.2 Supply
- MKT-3.C Supply and the law of supply
- MKT-3.D Producers’ responses to incentives and technology
- 2.3 Price Elasticity of Demand
- MKT-3.E Elasticity and total revenue
- 2.4 Price Elasticity of Supply
- 2.5 Other Elasticities
- 2.6 Market Equilibrium and Consumer and Producer Surplus
- MKT-4.A Market equilibrium and consumer and producer surplus
- 2.7 Market Disequilibrium and Changes in Equilibrium
- MKT-4.B Surpluses, shortages and market disequilibrium
- 2.8 The Effects of Government Intervention in Markets
- POL-1.A Government price and quantity interventions
- 2.9 International Trade and Public Policy
- POL-1.B Tariffs, quotas and international trade policy
3 Production, Cost, and the Perfect Competition Model
- 3.1 The Production Function
- PRD-1.A Production and costs
- 3.2 Short-Run Production Costs
- 3.3 Long-Run Production Costs
- 3.4 Types of Profit
- CBA-2.C Types of profit
- 3.5 Profit Maximization
- CBA-2.D The profit-maximising rule
- 3.6 Firms’ short-run output and long-run entry or exit
- PRD-2.A Short-run production and long-run entry and exit decisions
- 3.7 Perfect Competition
- PRD-3.A Perfect competition and efficiency
4 Imperfect Competition
5 Factor Markets
- 5.1 Introduction to Factor Markets
- PRD-4.A Factor markets
- 5.2 Changes in Factor Demand and Factor Supply
- PRD-4.B Responses in factor markets to incentives and constraints
- 5.3 Profit-Maximizing Behavior in Perfectly Competitive Factor Markets
- PRD-4.C Perfectly competitive factor markets
- 5.4 Monopsonistic Markets
- PRD-4.D Monopsonistic factor markets
6 Market Failure and the Role of Government
- 6.1 Socially Efficient and Inefficient Market Outcomes
- POL-2.A Social efficiency in competitive markets
- POL-2.B Private incentives and socially undesirable outcomes
- POL-2.C Inefficiency in imperfect markets
- 6.2 Externalities
- POL-3.A Externalities
- POL-3.B Public policy and externalities
- 6.3 Public and Private Goods
- POL-3.C Rival and excludable goods
- 6.4 The Effects of Government Intervention in Different Market Structures
- POL-4.A Government intervention in imperfect markets
- 6.5 Inequality
- POL-5.A Measuring income and wealth inequality
- POL-5.B Sources of income and wealth inequality