The Principles of Macroeconomics examination covers material that is usually taught in a one-semester undergraduate course in this subject, including principles of economics that apply to an economy as a whole, particularly the general price level, output and income, and interrelations among sectors of the economy.
The test places particular emphasis on the determinants of aggregate demand and aggregate supply, and on monetary and fiscal policy tools that can be used to achieve particular policy objectives. Within this context, you're expected to understand measurement concepts such as gross domestic product, consumption, investment, unemployment, inflation, inflationary gap and recessionary gap.
You're also expected to demonstrate knowledge of the institutional structure of the Federal Reserve Bank and the monetary policy tools it uses to stabilize economic fluctuations and promote long-term economic growth, as well as the tools of fiscal policy and their impacts on income, employment, price level, deficits, and interest rates.
Basic understanding of foreign exchange markets, balance of payments, effects of currency, and appreciation and depreciation on a country's imports and exports are also expected.
This test is given by The College Board which is a mission-driven not-for-profit organization that connects students to college success and opportunity.
Founded in 1900, the College Board was created to expand access to higher education. Today, the membership association is made up of over 6,000 of the world’s leading educational institutions and is dedicated to promoting excellence and equity in education.
Each year, the College Board helps more than seven million students prepare for a successful transition to college through programs and services in college readiness and college success. The organization also serves the education community through research and advocacy on behalf of students, educators and schools.
This exam is available to all but is especially relevant to juniors and senior high school students.
Schedule a meeting with your school counselor or a teacher to learn about the process for taking this exam including deadlines for signing up for courses at your school.
There are many reasons to take this exam but many students choose it to set themselves apart in college admission and to earn the college credit and placement that come with a successful exam score.
The examination contains approximately 80 questions to be answered in 90 minutes. Some of these are pretest questions that will not be scored. Any time candidates spend on tutorials and providing personal information is in addition to the actual testing time.