GDP, national budget, loanable funds market, macroeconomics equilibrium…The challenge of the AP® Macroeconomics exam lies in its abundance of terms, concepts, graphs, and formulas. Not to mention the always-tricky AP® Macroeconomics FRQ questions. 

In fact, only 19.1% of students scored a 5 on the 2019 test. However, despite the exam’s difficulty, it is possible to score high with the right amount of AP® Macroeconomics prep and the implementation of an effective study routine. 

This ultimate list of AP® Macroeconomics tips will give you a crash-course on how to get the best possible score on the AP® Macro exam and how to prepare for AP® Macroeconomics. Read on for an AP® Macroeconomics study guide replete with the strategies, hints, and important information you need to know to conquer the exam.

 

How To Study for AP® Macroeconomics: 9 Tips for 4s and 5s

1. Keep the AP® Macroeconomics exam’s format in mind during the test

The exam is divided into two sections, the multiple choice questions and the free responses, each with their own time constraints and score weighting. Here’s a table to help you unpack this format. 

Section	Time	# of Questions	Weighting
Section 1 (MCQ)	70 minutes	60 questions	66%
Section 2: (FRQ)	60 minutes	3	33%

Since you have 1 hour and 10 minutes to answer 60 multiple choice questions, we recommend that you approach the MCQ component of the exam with the mindset of answering one question per every 1 minute and 20 seconds. And remember, as College Board notes, these questions require the use of economics content knowledge and reasoning across the range of course topics and skills in skill categories 1, 2, and 3.

The free response section is a little trickier. Each AP® Macroeconomics FRQ question is weighted differently. Here is another table to help you understand. 

Type of FRQ	Percentage of Section Score
1 long free-response question	50%
2 short free-response questions	25% each

Since you have 60 minutes to complete 3 FRQs, we recommend that you spend 20 minutes with each prompt. However, this timeline is flexible. If you find the 2 short FRQs fairly straightforward and the longer one more complex, then spend a little more time with the longer one. Just be careful not to get lost in just one of the essays.

And remember, the FRQ questions are designed to make you think critically about AP® Macroeconomics key concepts. Be expected to: 

• Make assertions about economic concepts, principles, models, outcomes, and/or effects
• Explain economic concepts, principles, models, outcomes, and/or effects
• Perform numerical analysis
• Create graphs or visual representations

2. Make watching macroeconomic review videos part of your daily study routine

Since Macroeconomics is such a visual subject, working informational videos into your study routine can work wonders. Jacob Clifford, for instance, manages a YouTube channel dedicated to both AP® Macro and Microeconomics. He offers videos on a variety of units of macroeconomics, covering everything from the production possibilities curve to the Phillips Curve. These videos are fun, engaging, fast-paced, and humorous, and he also incorporates Macroeconomic theory into pop culture to make these theories land even more clearly. They seem particularly useful when trying to grasp AP® Macroeconomics graphs, too. Moreover, Khan Academy also has several macroeconomics videos on topics covered in a traditional college level introductory macroeconomics course.

The constant influx of AP® Macroeconomics graphs, charts, formulas, and key concepts can be totally overwhelming. But perhaps the best way to combat this inundation is to review video content like Jacob Cliffford’s. Videos can really clear up certain complexities and issues within Macroeconomics. 

3. Be aware of mistakes commonly made on the AP® Macroeconomics exam

Since AP® Macro is a very particular subject, students tend to make very particular mistakes. Over the course of several years, the most common errors students have made on the AP® Macroeconomics exam include:

• Confusing the change in demand with the change in quantity demanded
• Mixing up change in supply with change in quantity demanded
• Not labeling graphs correctly, or not labeling them at all
• Not understanding the effects of Monetary Policy and Fiscal Policy on Interest Rate
• Not having a full understanding of:
  • Money and Banking
  • Long-Run Aggregate Supply
  • International Economics
• Not knowing the difference between Real and Nominal
• Confusing comparative advantage calculations
• Not being able to distinguish between demand-pull inflation and cost-push inflation

Use this list to your advantage and keep these mistakes in mind as you work through the course and take the exam. Keep a journal and record these mistakes under a memory log or reminder sheet. It’ll come in handy come exam time. 

4. Invest in an AP® Macro review book and work it into your daily study routine

If you haven’t bought an AP® Macroeconomics review book yet, do it now! A common mistake is to wait until the weeks leading up to the exam to buy and use a review book. Don’t do this. Review books are comprehensive, concise, and quick to flip through; they’re the perfect way to begin AP® Macroeconomics prep. 

Start using them at the beginning of the year and develop a working routine with them. Set a reminder on your phone to spend at least thirty minutes working through a review book either daily or bi-daily. This will strengthen your foundation in AP® Macroeconomics. Most books come with practice tests, helpful test-taking strategies, study guides, study plans, and more. If you’re looking for the best AP® Macroeconomics review books, refer to this article.

5. Review all of the important graphs

On the AP® Macro exam, you will have to interpret a wide variety of economic graphs on the multiple-choice section and draw them during the free-response section. Understanding these graphs is essential to scoring a 5. Make sure you know how to correctly label, draw, and analyze each of these graphs:

• Production Possibilities Curve
• Supply and Demand
• Loanable Funds Market
• Money Market
• Foreign Exchange Market
• Aggregate Supply and Demand
• Phillips Curve
• Investment Demand
• Domestic/World Tariff

Here’s a comprehensive review of 10 of the most important graphs for the AP® Macroeconomics exam:

6. Review all the formulas you need to know

For the free-response and multiple-choice sections, you will need to know certain macroeconomic formulas, ranging from Real GDP to the unemployment rate, and from the tax multiplier to the GDP deflator. You can find a full, detailed list of all the formulas you need to know on The Economics Classroom website. Memorize these formulas and practice using them in the context of the AP® Macro exam.

7. Study using flashcards

Let’s face it: there are too many key terms you need to know for the AP® Macro exam, and simply reading your textbook is not enough to learn and memorize them. You need to be actively and consistently looking at these words and gaining a better understanding of them. 

To do this, try flashcards! Perhaps the most effective way to go about flashcards is to create them yourself, so that you spend more time with the terms. Head over to Quizlet and create your own set of flashcards using your textbook as a guide. Then work these flashcards into your daily study schedule. Try and spend 15-30 minutes reviewing these cards. Set an alarm on your phone to remind you to stay on top of it, too. 

Additionally, The Economics Classroom has great macroeconomics e-flashcards – 150 in all! You can study flashcards for a specific unit and shuffle through them. The definitions for each key term even include links to further definitions. Flashcards are a tried and tested way to increase your memory and strengthen your understanding of AP® Macroeconomics key concepts and terms. 

8. Follow macroeconomic blogs and social media accounts

One way to prepare for the exam is to incorporate macroeconomics into your everyday life. Of course, this doesn’t mean you need to have your nose in a book all day everyday! Try following a few macroeconomics accounts on social media and read a few blogs on a daily basis. The simple act of seeing information in a different way can help you learn more than if you just read your textbook. 

Go ahead and try out Economy Watch on Facebook, AP® Macroeconomics boards on Pinterest, or just track the #macroeconomics tag on Twitter. Engaging with macroeconomics on this personal level will help you become familiar with the world of the subject, its larger complexities, ongoing conversations, and nuances. You can also follow blogs like Mr. Karmin’s AP® Economics Blog or Steve Latter’s AP® Macroeconomics Blog, which offer tons of rewarding and effective study tools and information. Engaging with macroecon on a more personal level will provide an accessway into the subject, and it will also make studying more fun.

9. Form an AP® Macroeconomics study group

Let’s face it: studying alone can get pretty boring. And with this boredom comes loss of focus, distraction, and more. The key to solving this issue is to form effective AP® Macroeconomics study groups. The first step to forming study groups is to ask your peers if they’d be willing or wanting to meet either once or twice a week to review new units, study for exams, or just bounce ideas off one another. Working with a group can not only prove super effective in getting you to totally grasp difficult concepts but also expose you to new ideas. 

If you’d prefer to meet virtually, try out Zoom or Google Hangouts. Meet with your cohort on one of those video apps and see how it works. Once you’ve found a good study group, create a weekly or bi-weekly schedule to meet up and review. Oh, and be sure to create an agenda consisting of terms, concepts, units, etc. to review so you don’t end up wasting time. Study groups only work wonders when each member is prepared, organized, and ready to go!

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AP® Macroeconomics Multiple-Choice Review: 7 Tips for a 4 or 5

1. Use process of elimination to narrow down your answers

On the AP® Macroeconomics exam, and really any AP® exam for that matter, you’re going to encounter questions which stump you, and you’re going to need to develop an adequate method of surmounting them. One tried and tested method to keep you trucking through the test is to use a process of elimination on the MCQ. 

When you read through the answers, physically cross out choices you know for certain are incorrect. This will make the MCQ section much more manageable and it will allow you to create a visual map of the questions. Also, if you’re unsure about one answer, put a circle or question mark next to the letter to draw your attention to it. This will, again, keep your MCQs managed and organized, making for a much easier testing experience.    

2. Know the concepts covered on the exam

The College Board offers a topic outline in their AP® Macroeconomics Course Description. The concepts in the table below are general, but the course description gives a more detailed outline, which you can look over for more specific information. Keep in mind what content areas make up the highest percentage on the multiple-choice section and what make up the lowest percentage. Plan your studying time wisely.

Unit	Exam Weighting
1: Basic Economic Concepts	5-10%
2: Economic Indicators and the Business Cycle	12-17%
3: National Income and Price Determination	17-27%
4: Financial Sector	18-23%
5: Long-Run Consequences of Stabilization Policies	20-30%
6: Open Economy—International Trade and Finance	10-13%

As you can see, the AP® Macroeconomics exam emphasizes two units the most: 3) National Income and Price Determination and 5) Long-Run Consequences of Stabilization Policies. So we recommend you spend the most or at least a lot of time studying these sections. 

We offer study and practice modules for Unit 3 and Unit 5 that will help you work through the various AP® Macroeconomics key concepts, terms, and formulas.

3. Budget your time wisely

Since you must answer 60 multiple-choice questions in 70 minutes, you have just over a minute to spend on each question. As a general rule, there will be about 10 to 20 “easier” questions that you can spend less time on. The rest require analysis and synthesis which can make things much more complex. Answer the “easy” questions quickly to save time for the “harder” questions.

If you find yourself totally stuck and wasting time trying to decide on an answer, circle the question number and then return to it later if you still have time. However, if time is nearly finished and you still are pondering, just guess! You aren’t penalized for the questions you miss but rewarded for the amount you answer correctly, so it’s in your best interest to answer all of the questions!

4. Create a study journal detailing the formulas of AP® Macroeconomics

One trick to being well-prepared for the AP® Macroeconomics exam is to know the subject’s basic formulas like the back of your hand. To create a strong foundation in this, you need to start preparing at the beginning of the year. 

Buy a spiral notebook or organizer, label it “Formulas – AP® Macroeconomics” and keep it by your side during the year. Every time your teacher unpacks a new formula or every time you read about a new formula, write it down in the spiral. Whether it be basic GDP formulas or more complex banking formulas, write them down in the spiral in a clear and organized manner. Moreover, jot down additional notes that may help you understand the formulas more clearly. 

When it comes time to take the exam, then, you can refer back to this journal as a study tool. The abundance of formulas in AP® Macroeconomics can be overwhelming, so it’s best that you maintain an organized, systematic approach to pinning them down.

5. Keep in mind standard multiple-choice strategies

Since the multiple-choice section on the AP® Macroeconomics exam is so important, you should know some general techniques and tips on answering multiple-choice questions. Keep the following in mind:

• Answer EVERY question (no points are deducted for wrong answers)
• Use the process of elimination to narrow down the answer choices
• Pick a letter you will fill in (a, b, c, d, or e) if you have absolutely no idea what the answer is. Use this letter each time you cannot make an educated guess, or use the process of elimination. Odds are you will get at least some of these random selections right.
• Use other questions and answer choices to give you hints, or jog your memory, for questions you’re stuck on.
• Watch out for “EXCEPT” or “NOT” questions
• Don’t be afraid to underline, circle, and cross out
• Try to answer the question before reading the answer choices given.

6. Review mistakes students commonly make on the AP® Macroeconomics exam

Each year, the College Board provides a list of common errors students made during the 2019 exam through their Chief Reader Report. While this document proves invaluable to helping students recognize their own blind spots, it is often focused on very specific questions from the test. A general list of common mistakes is likely a better place to begin before diving into the chief reader reports. Drawing on resources including teacher blogs, YouTube tutorials, and more, here’s five common mistakes students tend to make: 

1. Students often confuse the difference between a change in demand and a change in quantity demanded. 
2. Students often mislabel or fail to label graphs correctly. 
3.  Students often confuse the difference between real and nominal. Real signifies adjustment for inflation whereas nominal means with inflation. 
4. Students tend to mix up Demand-Pull Inflation and Cost-Push Inflation. 
5. Students incorrectly interpret the Phillips Curve, often thinking that a decrease in inflation leads to a decrease in unemployment when it is actually the other way around. 

While there are plenty of other mistakes to make on the exam, this list of five is a good place to start. Jot these down in your study journal and keep them in mind throughout the year, and then pay special attention to them while you’re reviewing for the exam itself. 

7. Use the information presented in the MCQs to your advantage

By this, we mean that sometimes the AP® Macroeconomics MCQs can actually answer themselves in a way. How, you ask? Sometimes AP-style multiple choice questions offer information that can then be used to answer other questions further down the line. 

For example, say MCQ #12 asks you to examine growth in the AD-AS model, and they provide you a graph detailing the trend. And let’s say the AD-AS model was not one of your strong suits. You skip the question and continue through the test. But then MCQ #34 asks you to assess a different kind of growth but, in doing so, actually provides more information about the AD-AS model. Use this information to return to MCQ #12 and answer it correctly. While these moments of overlap are certainly not abundant, they do occur. Use them to your advantage.

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AP® Macroeconomics Free Response Questions: 9 Tips

1. Form your study routine around the format of the free-response section

On the AP® Macro FRQ section, you will have three questions to answer in 60 minutes. This 60 minutes includes a 10-minute mandatory reading/planning period. You will have one long essay that makes up 50% of your free-response score, and two shorter essays which each count for 25% of your FRQ score. 

Here’s a table to give you a better representation:

Type of FRQ	Exam Weighting
Long Essay	50%
Short Essay #1	25%
Short Essay #2	25%

So in order to get accustomed to the structure of AP® Macro’s FRQ section, practice writing the essays in the way they are laid out. Give yourself 60 minutes, use the 10-minute planning period, and write all three essays. Try it out and see how you tend to distribute your time, and work that into your study routine. For all three of these essays, you will need to use your analysis and evaluation skills to connect different content areas. You may be asked to incorporate AP® Macroeconomics graphs or diagrams to show macroeconomic principles. Keep in mind that the free-response section counts for 33% of your entire AP® Macroeconomics exam score.

2. Use the 10-minute prewriting time to your advantage

You will be given a 10-minute reading period to plan the answers to all three FRQs. Use this time wisely. Read and re-read the questions, analyze the problems and how you can solve them or explain them, then jot down a few points you want to touch on. 

Don’t spend time writing out a rough draft, but use these 10 minutes to understand the question and come up with a rough idea of what you want to say. Additionally, you should make a writing web, planning map, or essay outline to prepare and organize your ideas. If you’re unfamiliar with prewriting activities or if you just want to brush up on your skills, consult this list of tips. 

3. Label your graphs as clearly and fully as possible

Since the AP® Macro exam is so difficult, it can be pretty easy to forget to do basic things while caught up in the whirlwind of the exam. However, do not make the common mistake of forgetting to label your graphs. There should always be labels on your graphs. Additionally, there should be a title. It sounds obvious, but it can be easy to forget these things. When you reach the graph portion, jot down reminders to label and title your graphs off to the side of the page so you remember. Make this a habit. 

Oh, and be sure to label each axis, identify the curve on the graph, show changes in curves with arrows, and whatever else you need to make sure your graph will be clear to the AP® readers. You will lose points for not including correct, clear labels!

4. Label your answers in a logical and sequential manner that follows the prompt

Many of the AP® Macroeconomics free-response questions are multi-part. This means that for one question, there will be parts (a), (b), (c), etc. If this is the case, label your answers as (a), (b), (c), etc. Don’t make things confusing for you or the AP® readers. This will keep you on track and make sure that you don’t leave anything out or miss a question. The AP® Macro FRQ section is sprawling, so it is key that you stay organized throughout the exam. 

It will also make it quicker and easier for the AP® grader to look at your work. It’s also important to realize that each individual part is awarded credit independently, so you should, at least, attempt every part. If you can’t answer part (a) or if you give a wrong answer, you can still receive full credit for your answers to part (b) and part (c). So it is imperative that you give each component a swing. Make sure to answer the parts in the correct order as well.

5. Create a daily reading schedule of economics-related material

The AP® Macro exam, and really every AP® exam, is ultimately designed to test your sophistication within a certain subject area. So, in order to score high, you will need to build and develop your sophistication within that specific subject area. And yeah, we know it’s a lot easier said than done. However, the quickest way to build your knowledge of a subject is to read widely. 

At the beginning of the year, form a daily reading schedule and stick to it. Set an alarm on your phone to remind you to read for 30 minutes to one hour. For AP® Macro, read challenging material that applies directly to that subject. For instance, you could get a subscription to publications like The Economist, The New Yorker, The New York Times, or The Wall Street Journal. Creating and sticking to a daily reading journal composed of material from those publications will enrich your understanding of Macroeconomics and provide you a gateway into the conversation within the subject. 

6. Craft an argumentative thesis statement

You’ve probably spent a majority of your school life being told by teachers to always restate the question in your answers. Ignore this idea for the AP® Macro exam. Instead, you need to craft a thesis statement which argues something. By this, we mean that your thesis statement should be designed to persuade your readers of a certain point or idea. 

Take a look at these examples: 

Poor:

• “Taxes must be increased for aggregate demand to shift.”

Notice how vague the writer is in their discussion. There is no talk of how, why, or when, and they do not offer any specifications. 

Strong: 

• “The minimum change is $8 billion and government spending will have to increase to shift the aggregate demand curve to the right by the amount of the output gap.” 

Notice how the writer is succinct but still persuasive. They don’t take up too much space crafting long and vague arguments but directly state their case. 

The AP® graders know the questions inside and out; they don’t need to be reminded of what you are answering. Do not waste your valuable time restating the question in your answer. Get to the point right away, and make sure you are arguing something!

7. Explain your reasoning

Since the AP® Macroeconomics FRQ is designed to test your understanding of macroeconomics, you will be required to demonstrate mastery of the subject’s logic. By this, we mean that you must be able to unpack the ideas, sequences, and formulas—overall, the logic—of macroeconomics and show your mastery. In order to do this, you must explain your reasoning. 

For example, if you answer an FRQ question about tax increase and aggregate demand using a graph, explain the components and features of the graph in the space below. Discuss the nature of its curve, its points of origin, its labels, etc. You don’t need to write a full blown AP® English-style essay, but always offer some sort of explanation of your reasoning. This will demonstrate your sophistication and mastery of AP® Macroeconomics to the test scorer, and it is a sure way to score high.

8. Know the AP® Macro buzzwords

 The key buzzwords to look out for on the AP® Macroeconomics free-response section include: Show, Identify, Calculate, and Explain. But how exactly should you answer each of these questions? Let’s find out:

Buzzword	How to Answer	Link to Example
Show	For this type of question, you will need to diagram or graph a macroeconomic effect to illustrate your answer. Add as many correct labels as you can! (If you don’t add labels, you will not receive full credit for your answer.)	Q1, b, bullet 2. 2018
Identify	If you are asked to identify something, you will need to provide a short, direct response. Do not add further explanations or elaboration. An “identify” response might be as simple as a list, a label on a graph, or a short sentence like “unemployment will rise.”	C, i. 2019
Calculate	For “calculate” questions, you must apply a formula or mathematical operation to come up with a numerical response. Be sure to show your work!	Q3, b. 2018
Explain	To answer an “explain” question, walk the reader through your economic reasoning. Include what will happen, and describe why or how it happens. You can include graphs and symbols in your answer. A good tip here is to make sure you include the word “because” in your answer.	Q1, b, bullet 1. 2017

9. Get your economic lingo down

In order to score high, you need to convince the AP® Macro graders that you know what you’re talking about. This means that you absolutely must have your economic vocabulary down, especially for the FRQ section. What does this mean? Well, let’s take a look at a few examples:

• Instead of saying “went up,” say “increased.”
• Instead of saying “went down,” say “decreased.”
• Do not say that curves “move.” Say that curves “shift.”
• Curves do not shift up or down, they shift left or right.
• Use “money” correctly:
  • “Money” should only be used when discussing Money Creation and Money Supply.
  • Do not write “money” when you mean “income.”
  • Do not write “money” when you mean “currency.”

Incorrect Lingo	Correct Lingo
“People bought more things with their money.”	“Consumer spending increased.”
“People made more money.”	“Households earned increased income.”
“The Federal Reserve made more money.”	“The Federal Reserve increased the money supply.”
“The government spent more money to help the economy.”	“The federal government pursued expansionary fiscal policy by increasing government spending in response to a recession.”

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Tips From AP® Macroeconomics Teachers and Students

Overall AP® Macroeconomics Tips

1. Aggregate Demand (AD) and Aggregate Supply (AS) are the heart of the exam

It is nearly impossible to pass the AP® Macroeconomics exam without having a firm understanding of the AD/AS model. You will have to interpret, use, and draw graphs to prove your knowledge on the exam. The long FRQ will almost always require an AD/AS diagram. 

It’s also important to understand the relationship between the Keynesian model and the AD/AS models. Oh, and don’t be afraid to draw AD/AS graphs in the test booklet to help answer multiple-choice questions. Visualizing the problem is really helpful when trying to answer a tricky question.Thanks to Mr. K. from East High School for the tip! 

2. Read Naked Economics

While this book won’t necessarily get you a 5 on the exam, you’ll gain a solid intuitive understanding of important economic concepts. It’s a really interesting read and helps break up the monotony of dry textbooks. It’ll take you through all the various big economic ideas in clear, accessible language. A must-have for new econ students. 

3. Explain concepts to yourself on paper during your study routine 

While you’re reading your textbook, review books, or watching videos, you should take notes. However, and this is going to sound like a broken record to many of you, make sure you’re writing notes in your own words.

You need to be able to come up with explanations that speak your language so that you can re-process the information when you go back and study your notes. If you can’t explain a concept to yourself in writing, then you need to study the material further. You could go even further and try explaining the concepts to your friends or family, too. Thanks to Mr. N. at Klein Oak High School for the tip!

4. Watch No Bull Economics Lessons on YouTube

Helmed by Mr. Medico, anI Economics teacher at Paul D. Schreiber High School, this YouTube channel provides a ton of great resources and videos on all things economics. They have detailed, yet simple, explanations of all the graphs you need to know for AP® Macro. In fact, the videos are particularly geared toward students needing help with the AP® Macroeconomics exam, AP® Microeconomics exam, and even introductory college courses. These are great video modules that’ll help open up the exam. 

5. Know the recurring themes

As I skimmed over all the past free-response questions, I found a few recurring themes that you should definitely go over before the exam. These will certainly make appearances on the test, so you should jot them down in a study sheet or journal. 

• Output
• Comparative/Absolute advantage
• Interest rates
• Exchange Rates
• Aggregate Supply & Demand Graph
• Fiscal policy
• GDP
• Long-run & Short-run aggregate supply

AP® Macroeconomics MCQ Tips 

1. Draw graphs to help with multiple-choice questions 

Many of the multiple-choice questions will be complex. If you need to, draw a graph in the question booklet to help visualize a problem and find the solution, especially when it comes to multi-element questions. Adding a quick visual can really help you unpack the wording in the MCQs and provide you a visual map of the question. Thanks to Mr. T. from Spartanburg High School for the tips!

2. Simplify the question

AP® question writers will try to wrap simple concepts in unfamiliar language. For this reason, try to find out the question’s true meaning. Off to the side, if you find it helpful, simplify the questions in your own words to get a better grasp of what they are asking you. Mark-up, annotate, and do whatever you need to the question to get a better understanding of it. 

3. Review Mr. Redelsheimer’s PowerPoint of the most common mistakes on the AP® Macroeconomics exam

In order to score high on the MCQ section of the exam, you’re going to need to, simply put, know your stuff. One way to polish your knowledge and tailor it specifically to the exam is by reviewing the common mistakes made on the exam. Mr. Redelsheimer, a high school economics teacher, has compiled an extensive list of common mistakes that students frequently make on the exam. He covers everything from real output and the price level to the various complexities of cost-push inflation. It’s a seriously helpful list, and it will prove super beneficial come exam time.

AP® Macroeconomics FRQ Tips 

1. Know the best bets for the two short FRQs

More than likely, the two short free-response questions on the AP® Macro exam will include one of the following topics:

• Exchange rates, foreign exchange markets, determinants of exchange rates
• Effect of a change in deposits in the banking system, using the money multiplier
• Causes and effects of changes to the nominal and real interest rates, highlighting the money market and loanable funds market
• Money market showing the effect of monetary policy
• Phillips Curve diagram showing the relationship between inflation and unemployment

Thanks to Mr. T. from Spartanburg High School for the tip!

2. Review student writing from previous exams

To ace the AP® Macroeconomics FRQ section, you’re going to need to extensively practice and prepare. Of course, you should create a monthly schedule of writing out practice exams, but you should also carve out time to review student writing from previous tests. 

College Board offers a database of previous exams, replete with student samples of old FRQs. Open these samples up and review them. Pay special attention to how students construct their arguments, draw and discuss graphs, and how they utilize macroeconomic formulas to support their points. The samples also contain feedback and scores from actual scorers, so pay attention to that as well. Often, the feedback will illustrate why students scored high or low. Reviewing previous writing samples is a great way to develop your FRQ skills.

3. Never use the words “maybe,” “probably,” or “might” in your FRQ response

You need to make a stand in your FRQs. Don’t try and cop your way out of making a choice by using wishy-washy or vague words. You run the risk of contradicting yourself or appearing unsure if you do this. And these words also make writing unclear. Your reader won’t totally understand what you mean by saying the “GDP probably increased.” Don’t use that type of vague language. Thanks to Mrs. W. from Chatfield Senior High for the tips!

4. Draw LARGE graphs

If you’re asked to draw a graph, make sure your “correctly labeled” graph is drawn large enough so that the AP® graders can see your labels and the shifts and effects you’re trying to show. This may seem like a no-brainer, but some students have a tendency to write and draw very small. If it’s too small or too cluttered, your reader is going to glaze over your graph, and you’ll receive a poor score. 

Are you a teacher or student? Do you have an awesome tip? Let us know!

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Wrapping Things Up: The Ultimate List of AP® Macroeconomics Tips

The AP® Macroeconomics exam is not a walk in the park. However, if you study hard, prepare frequently, and have an understanding of foundational Macro knowledge, you can score high. You just need to solve the puzzle of how to prepare for the AP® Macroeconomics exam, and we’re here to help. Consider pinning down these skills: 

• have a firm understanding of macroeconomics terms,
• know how to connect disparate terms together 
• know how to draw and analyze several different types of economics graphs
• be able to answer complex word problems in both multiple-choice and free-response formats.

It’s easy to get overwhelmed and frustrated, especially when you’re in the midst of preparing for the exam. However, if you learn the material, gain a deeper understanding of it, and know how to apply this knowledge to different situations, you will be ready to conquer the AP® Macro exam.