AP Macroeconomics – Scheme of Work

Course Duration: One Academic Year (40 Weeks)

Level: Grade 11 or 12 | Prerequisite: Basic Economics

Term 1: Basic Macroeconomics Concepts (Weeks 1–10)

Weeks 1–2 – Introduction to Macroeconomics

  • Scarcity, choice, and opportunity cost
  • Economic goals and systems
  • Difference between micro and macroeconomics

Weeks 3–4 – Measurement of Economic Performance

  • Gross Domestic Product (GDP)
  • Unemployment
  • Inflation and price indices

Weeks 5–6 – National Income & Circular Flow

  • Circular flow of income
  • Components of national income
  • Limitations of GDP

Weeks 7–8 – Aggregate Demand & Supply

  • AD curve and its determinants
  • AS curve and short-run vs long-run analysis
  • Equilibrium price level and output

Weeks 9–10 – Macroeconomic Goals & Policies

  • Full employment, price stability, and growth
  • Fiscal and monetary policy overview

Term 2: Fiscal & Monetary Policy (Weeks 11–20)

Weeks 11–12 – Fiscal Policy

  • Government spending and taxation
  • Budget deficit and surplus
  • Multiplier effect

Weeks 13–14 – Monetary Policy

  • Federal Reserve and money supply
  • Tools of monetary policy
  • Interest rates and investment

Weeks 15–16 – Money & Banking

  • Functions of money
  • Commercial banks and credit creation
  • Central bank operations

Weeks 17–18 – Unemployment & Inflation

  • Types of unemployment
  • Causes and costs of inflation
  • Phillips Curve analysis

Weeks 19–20 – Review & Application

  • Case studies on fiscal/monetary policy
  • Practice FRQs
  • Mini-assessment

Term 3: Open Economy & Economic Growth (Weeks 21–30)

Weeks 21–22 – International Trade

  • Comparative advantage and trade gains
  • Balance of payments
  • Trade restrictions

Weeks 23–24 – Exchange Rates

  • Determination of exchange rates
  • Impact on imports, exports, and AD/AS

Weeks 25–26 – Economic Growth

  • Determinants of growth
  • Productivity and investment
  • Government role in growth

Weeks 27–28 – Development Economics

  • Indicators of development
  • Global institutions and aid

Weeks 29–30 – Review & Practice

  • Mock FRQs and MCQs
  • Problem-solving sessions

Term 4: Synthesis & AP Exam Preparation (Weeks 31–40)

Weeks 31–34 – Comprehensive Review

  • All major units revision
  • Practice FRQs and MCQs
  • Identifying common mistakes

Weeks 35–38 – Mock Exams & Analysis

  • Timed practice tests
  • Feedback and improvement strategies

Weeks 39–40 – AP Exam Readiness

  • Final review sessions
  • Exam strategies
  • Confidence building & Q&A