You have four weeks until the AP Macroeconomics exam. This is the comprehensive plan for students building mastery from the ground up: one unit per week, with daily study tables, mini-FRQs, and two full mock exams.
Each week builds on the last. Weeks 1–3 focus on individual units. Week 4 is review + integration. Follow each day's table strictly; these are sequenced to cement foundational understanding before jumping to multi-graph scenarios.
Commitment: ~1.5–2 hours per day, 5 days a week. Two longer days (2.5–3 hrs) for FRQs and mocks.
Week 1: Basic Economic Concepts & Economic Indicators (Units 1–2)
| Day | Topic | Study | Practice | Time |
|---|---|---|---|---|
| Mon | PPC & opportunity cost | Draw two PPCs (same goods), mark points on curve + inside/outside. Compute opportunity cost: "If you move from point A to B, you give up X units to gain Y units." Opportunity cost = X/Y. | 3 PPC diagrams with computed OC; identify comparative advantage from two nations' PPCs. | 1.5 hrs |
| Tue | S&D basics | Law of demand (price ↑ → Qd ↓), law of supply (price ↑ → Qs ↑). Determinants: income, preferences, input costs, expectations, number of sellers. Distinguish: shift vs. movement along curve. | 8 S&D scenarios: read a change ("fuel prices ↑"), identify if demand or supply shifts, draw graph, mark new equilibrium. | 1.5 hrs |
| Wed | Equilibrium & shortage/surplus | Shortage: Qd > Qs (price below equilibrium); surplus: Qs > Qd (price above equilibrium). Pressure on price: shortage → price ↑, surplus → price ↓. | Draw 3 graphs showing shortage, surplus, and new equilibrium after price adjustment. | 1 hr |
| Thu | GDP (nominal & real) | GDP = C + I + G + (X − M). Nominal GDP uses current prices. Real GDP uses base-year prices. Formula: . Practice converting. | 4 calculations: nominal GDP → real GDP (given price index), GDP → CPI, GDP growth rate. | 1.5 hrs |
| Fri | CPI, inflation, unemployment | CPI = weighted average of prices. Inflation rate = . Unemployment rate = . | 5 calculations: CPI → inflation, labor force → unemployment rate, interpret data tables. | 1.5 hrs |
| Sat | Unit 1–2 review | Skim Unit 1–2 section. Recompute opportunity cost and inflation by hand. | Mini-quiz: 10 MCQs (basics) + 1 short-answer (PPC). | 1 hr |
Week 2: National Income Determination & Financial Sector (Units 3–4)
| Day | Topic | Study | Practice | Time |
|---|---|---|---|---|
| Mon | AD-AS model (short-run) | Aggregate demand (downward slope): wealth effect (wealth ↓, C ↓), interest-rate effect (P ↑, MS/P ↓, r ↑, I ↓), exchange-rate effect (P ↑, exports ↓). Short-run AS (upward slope): sticky wages, expected inflation lag. Long-run AS (vertical at potential GDP). | Draw 5 AD-AS diagrams: label axes, LRAS, SRAS, AD; mark equilibrium (E); show one demand shock + new equilibrium (E₂). | 1.5 hrs |
| Tue | Fiscal policy | G ↑ or T ↓ = expansionary (AD ↑). G ↓ or T ↑ = contractionary (AD ↓). Multiplier = . If MPS = 0.2, multiplier = 5. MPC + MPS = 1. | 4 scenarios: compute multiplier, compute change in real GDP from change in G or T. Draw AD-AS before/after. | 1.5 hrs |
| Wed | Recessionary & inflationary gaps | Recessionary gap: Real GDP < Potential. Price level too low. Solution: expansionary policy (fiscal or monetary). Inflationary gap: Real GDP > Potential. Solution: contractionary policy. | Draw 4 AD-AS diagrams: identify gap type, draw policy response, show how gap closes. | 1.5 hrs |
| Thu | Money & banking | MS = Base × money multiplier = Base × (1/RR). If RR = 10%, multiplier = 10. Open market operations (OMO): Fed buys securities → base ↑ → MS ↑. Fed discount rate ↑ → banks less willing to borrow → MS ↓. | 3 calculations: base + RR → MS. 3 scenarios: identify OMO effect, Fed policy direction. | 1.5 hrs |
| Fri | Money market & interest rates | Money market: vertical MS (set by Fed), downward-sloping MD (demand for real money). Equilibrium = market interest rate. If income ↑, MD ↑ → interest rate ↑. If MS ↑, curve shifts right → interest rate ↓. | Draw 6 money market diagrams: label axes (interest rate Y, quantity of money X), draw MS and MD, mark equilibrium, show one shift (income change, Fed action), mark new equilibrium. | 2 hrs |
| Sat | Unit 3–4 mock: 1 full FRQ | Fed lowers discount rate (expansionary monetary policy). Real economy initially in recession. Analyze: money market effect, AD-AS effect, short-run output/price, long-run implications. | Draw: money market (MS ↑, r ↓), AD-AS (AD ↑ → gap closes), Phillips curve short-run effect (inflation ↓, unemployment ↓). | 1.5 hrs |
Week 3: Long-Run Consequences & Stabilization (Unit 5)
| Day | Topic | Study | Practice | Time |
|---|---|---|---|---|
| Mon | Phillips curve (short-run) | Inverse relationship: unemployment ↓ → inflation ↑ (move up-left along curve). Shifts caused by expected inflation or supply shocks. Stagflation: supply shock → curve shifts right (worse tradeoff). | Draw 5 Phillips diagrams: label axes (unemployment X, inflation Y), draw curve, show movement vs. shift, mark original + new equilibrium. | 1.5 hrs |
| Tue | Phillips curve (long-run) | Long-run Phillips is vertical at natural unemployment rate (NAIRU). Implication: expansionary policy raises inflation but unemployment returns to natural rate. No permanent tradeoff. | 4 diagrams: short-run Phillips (downward slope) with long-run Phillips (vertical) overlay; show policy moving economy then returning. | 1.5 hrs |
| Wed | Crowding out | Government borrows → demand for loanable funds ↑ → interest rate ↑ → private investment ↓. Reduces long-run capital stock → long-run growth slows. Draw in loanable funds market. | 3 loanable funds diagrams: identify demand ↑ (government borrowing), show interest rate ↑, show investment ↓. | 1.5 hrs |
| Thu | Money growth & inflation (long-run) | Quantity theory: . In long-run: velocity (V) constant, real Y at potential → money growth ∝ inflation. Doubling M → doubling P long-run. | 4 scenarios: given money growth rate, compute long-run inflation change. Interpret M2 data. | 1.5 hrs |
| Fri | Economic growth | Growth driven by: capital accumulation, technological progress, labor force growth, productivity. Monetary policy ≠ long-run growth (one-time price ↑). Fiscal policy can affect long-run growth if investment-focused vs. consumption-focused. | Calculate growth rate, interpret productivity data, explain why government R&D investment matters for long-run potential GDP. | 1.5 hrs |
| Sat | Unit 5 mock: 1 full FRQ | Economy growing above potential (inflationary gap). Congress passes tax cut (expansionary). Analyze: short-run AD-AS effect, inflation, crowding out in loanable funds, long-run Phillips implications, long-run growth impact. | Draw: AD-AS (AD ↑ from fiscal expansion), loanable funds (interest ↑), Phillips (both curves), explain crowding out + long-run vertical Phillips. | 2 hrs |
Week 4: Open Economy & Final Review
| Day | Topic | Study | Practice | Time |
|---|---|---|---|---|
| Mon | FOREX market | Supply of dollars: US exporters (upward slope). Demand for dollars: foreign buyers (downward slope). Equilibrium = exchange rate. Appreciation: dollar is worth more foreign currency. Depreciation: dollar is worth less. | Draw 6 FOREX diagrams: label axes (exchange rate Y, quantity of dollars X), show demand + supply, equilibrium, one shift (capital inflow, export boom), new equilibrium. | 1.5 hrs |
| Tue | Capital flows & exchange rates | Capital inflow (foreign investment in US) → demand for dollars ↑ → dollar appreciates. Dollar appreciation → US exports ↓ (expensive abroad), imports ↑ (cheap imports). Trade deficit widens. | 4 FOREX scenarios: identify capital flow direction, predict exchange rate change, explain export/import effect. | 1.5 hrs |
| Wed | Balance of payments & trade | BOP = current account (exports − imports) + financial account (capital flows). If capital inflow, trade deficit must worsen (identity). Trade policy: tariffs, quotas raise prices, reduce imports, but invite retaliation. | 3 scenarios: compute trade balance, interpret BOP data, predict tariff effects. | 1 hr |
| Thu | Synthesis: full multi-step FRQ | Central bank in a trading nation raises interest rates. Analyze: money market, AD-AS, unemployment/inflation, FOREX (capital inflow), trade balance, Phillips curve implications. | Full 50-min FRQ: draw 4+ graphs (money market, AD-AS, FOREX, Phillips), write reasoning for each step. | 2.5 hrs |
| Fri | Final review & formula sheet | Compile personal formula cheat sheet: multiplier, money multiplier, real GDP, inflation rate, unemployment rate, real interest rate (= nominal − inflation). Review last-minute review checklist. | 15 random MCQs (Weeks 1–4 mix), skim FRQ practice guide. | 1.5 hrs |
| Sat–Sun | Full mock exam + debrief | Saturday: 90-min practice test under exam conditions (30 no-calc MCQ + 25 calc MCQ + 3 FRQs, 50 min). Sunday: grade, identify weak spots, review rubrics. Aim for 70+ of 90 (score 5). | Grade your own work. Reread rubrics for the FRQ you scored lowest on. Redo that FRQ for practice. | 3 hrs |
Cumulative review checklist (before exam week)
- ☐ Drawn PPC, S&D, AD-AS, money market, loanable funds, FOREX, and Phillips (short + long) at least 3 times each.
- ☐ Calculated real GDP, CPI, inflation, unemployment, multiplier, money multiplier (5 of each).
- ☐ Completed 2 full mock exams; scored 70+.
- ☐ Identified your weakest topic; redo 1 FRQ on that topic.
- ☐ Memorized 8+ key definitions (comparative advantage, recessionary gap, crowding out, etc.).
Ready to start?
Open the AP Macroeconomics topic library →. Begin Week 1 Monday, or jump to whichever week best matches your current knowledge. Questions? See the 7-day plan for daily focus or the 3-day plan for last-minute rescue. Good luck — four weeks, full mastery, one high score.