AP Microeconomics

Advanced Placement (AP) Microeconomics (also known as AP Micro and AP Microecon) is a course offered by the College Board as part of the Advanced Placement Program for high school students interested in college-level coursework in microeconomics and/or gaining advanced standing in college. The course begins with a study of fundamental economic concepts such as scarcity, opportunity costs, production possibilities, specialization, and comparative advantage. Major topics include the nature and functions of product markets; factor markets; and efficiency, equity, and the role of government.^[1] AP Microeconomics is often taken in conjunction with or after AP Macroeconomics.^{[citation needed]}

Topics outline and distribution of topics

Topics covered in the AP Microeconomics course and exam include:^[2]

Unit	Topic	Exam Weighting
1	Basic Economic Concepts	12–15%
2	Supply and Demand	20–25%
3	Production, Cost, and the Perfect Competition Model	22–25%
4	Imperfect Competition	15–22%
5	Factor Markets	10–13%
6	Market Failure and the Role of the Government	8–13%

The exam

• Multiple Choice: Students are given 70 minutes to complete 60 multiple choice questions which are weighted 2/3 (66.7%) of the total exam score.
• Free-Response: Students are allotted 10 minutes of planning then 50 minutes of writing for one long free-response question (weighted 50% of section score) and two short ones (weighted 25% section score each).^[3]

Score distribution

94,772 students took the AP Microeconomics exam in 2023.^[4]

The exam was first held in 1989, along with Macroeconomics. Grade distributions since 2007 are as follows:

Score	2007[5]	2008[6]	2009[7]	2010[8]	2011[9]	2012[10]	2013[11]	2014[12]	2015[13]	2016[14]	2017[15]	2018[16]	2019[17]	2020[18]	2021[19]	2022[20]	2023[4]	2024[21][22]
5	16.3%	18.1%	17.9%	16.6%	16.1%	16.6%	18.1%	15.9%	19.1%	17.8%	23.5%	19.2%	24.3%	23.3%	18.5%	17.7%	21.3%	17%
4	27.6%	26.3%	27.4%	27.0%	26.2%	28.2%	28.6%	28.9%	28.6%	27.5%	28.1%	28%	28.1%	29.0%	24.0%	22.5%	26.0%	25%
3	20.8%	18.8%	19.7%	20.2%	21.3%	20.9%	20.0%	20.7%	19.4%	22.0%	18.0%	20.2%	17.2%	16.6%	16.6%	18.8%	20.6%	23%
2	14.6%	15.2%	14.6%	14.8%	15.6%	15.8%	14.9%	15.5%	13.8%	13.7%	12.0%	15.8%	12.0%	14.2%	17.0%	16.9%	19.9%	21%
1	20.8%	21.5%	20.4%	21.4%	20.8%	18.5%	18.4%	18.9%	19.1%	19.0%	18.5%	16.8%	18.4%	16.9%	23.9%	24.2%	12.1%	14%
% of scores 3 or higher	64.6%	63.2%	65.0%	63.8%	63.6%	65.7%	66.7%	65.5%	67.1%	67.3%	69.5%	67.4%	69.6%	68.9%	59.1%	59.0%	68.0%	65%
Mean	3.04	3.04	3.08	3.02	3.01	3.09	3.13	3.07	3.15	3.11	3.26	3.17	3.28	3.28	2.96	2.93	3.25	3.10
Standard deviation	1.38	1.41	1.39	1.39	1.38	1.36	1.37	1.35	1.39	1.37	1.42	1.36	1.42	1.40	1.45	1.44	1.32	1.30
Number of Students	37,383	41,915	46,272	51,601	56,303	62,351	67,505	74,049	78,408	82,388	87,858	90,032	91,551	82,415	80,199	84,386	94,772	103,809

See also

• AP Macroeconomics
• Microeconomics
• Economics
• Economics education § Curriculum
• Glossary of economics