EconixaECONOMICS FUNDAMENTALS

AP Micro ~40 hours

AP Microeconomics Exam Prep Path

This is an unofficial editorial study guide — it is not affiliated with or endorsed by the College Board, and it does not reproduce any official exam material. Work the units in order: each one builds the graphs and vocabulary the next assumes. Every step pairs a lesson with an interactive simulator so you practice drawing shifts yourself, plus AP-style practice questions with explanations. Graphing earns most of the points on this exam, so keep a running list of every diagram you can draw from memory and revisit it weekly.

Steps

  1. Step 1: Unit 1: Basic Economic Concepts

    Scarcity, opportunity cost, and the production possibilities curve — the vocabulary and first graph of the course.

  2. Step 2: Unit 2: Supply and Demand

    The core model: demand and supply determinants, equilibrium, and predicting price and quantity changes from shifts.

  3. Step 3: Elasticity and Price Controls

    Price elasticity of demand and supply, total revenue, and what price ceilings and floors do to markets.

  4. Step 4: Consumer and Producer Surplus

    Measuring who gains from trade, and how taxes and controls create deadweight loss.

  5. Step 5: Production and Costs

    Short-run versus long-run costs, the shapes of the cost curves, and where they come from.

  6. Step 6: Perfect Competition

    The benchmark market: price-taking firms, profit maximization at P = MC, and long-run equilibrium.

  7. Step 7: Monopoly

    Single-seller markets: why monopolies arise, how they set price and quantity, and the efficiency cost.

  8. Step 8: Monopolistic Competition and Oligopoly

    Differentiated products, strategic interdependence, and an introduction to game theory.

  9. Step 9: Factor Markets

    Markets for labor and capital: derived demand, marginal revenue product, and wage determination.

  10. Step 10: Market Failure and the Role of Government

    Externalities, public goods, and asymmetric information — when markets fail and how policy responds.

  11. Step 11: Full Exam Review

    Mixed AP-style questions across all units. Re-draw every major graph from memory and review your error log.