AP Microeconomics and Macroeconomics All Access

AP Microeconomics and Macroeconomics All Access

by Tyson Smith

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Product Details

ISBN-13: 9780738610856
Publisher: Research & Education Association
Publication date: 09/20/2013
Series: Advanced Placement (AP) All Access
Pages: 444
Sales rank: 392,039
Product dimensions: 8.40(w) x 10.90(h) x 1.30(d)
Age Range: 16 - 18 Years

About the Author

Tyson Smith has taught a variety of high school social studies courses for 15 years, the last 10 of which have been spent preparing students for successful performances on AP® exams in Microeconomics, Macroeconomics, and European history.

Mr. Smith earned his B.A. in Philosophy and his M.A. in Social Studies Education from the University of Iowa, Iowa City, Iowa. He has also completed post-graduate work in economics and social studies education at several universities.

Mr. Smith has been honored as a Claes Nobel Educator of Distinction by the National Society of High School Scholars has also been named an Educational Leader and Mentor by the National Youth Leadership Forum on National Security.

Read an Excerpt

Welcome to REA’s All Access for AP Microeconomics and Macroeconomics

A new, more effective way to prepare for your AP exam

There are many different ways to prepare for an AP exam. What’s best for you depends on how much time you have to study and how comfortable you are with the subject matter. To score your highest, you need a system that can be customized to fit you: your schedule, your learning style, and your current level of knowledge.

This book, and the free online tools that come with it, will help you personalize your AP prep by testing your understanding, pinpointing your weaknesses, and delivering flashcard study materials unique to you.

Let’s get started and see how this system works.

How to Use REA’s AP All Access
The REA AP All Access system allows you to create a personalized study plan through three simple steps: targeted review of exam content, assessment of your knowledge, and focused study in the topics where you need the most help.

Here’s how it works:

Review the Book:
Study the topics tested on the AP exam and learn proven strategies that will help you tackle any question you may see on test day.

Test Yourself & Get Feedback:
As you review the book, test yourself. Score reports from your free online tests and quizzes give you a fast way to pinpoint what you really know and what you should spend more time studying.

Improve Your Score:
Armed with your score reports, you can personalize your study plan. Review the parts of the book where you are weakest, and use the REA Study Center to create your own unique e-flashcards, adding to the 100 free cards included with this book.

Finding Your Weaknesses: The REA Study Center
The best way to personalize your study plan and truly focus on your weaknesses is to get frequent feedback on what you know and what you don’t. At the online REA Study Center, you can access three types of assessment: topic-level quizzes, mini-tests, and a full-length practice test. Each of these tools provides true-to-format questions and delivers a detailed score report that follows the topics set by the College Board.

Topic-Level Quizzes
Short, online quizzes are available throughout the review and are designed to test your immediate grasp of the topics just covered.

Mini-Tests
Two online mini-tests (one for microeconomics and one for macroeconomics) cover what you’ve studied in the book. These tests are like the actual AP exam, only shorter, and will help you evaluate your overall understanding of the subject.

Full-Length Practice Test
After you’ve finished reviewing the book, take our full-length exam for microeconomics or macroeconomics (or both) to practice under test-day conditions. Available both in this book and online, these tests give you the most complete picture of your strengths and weaknesses. We strongly recommend that you take the online version of the exam for the added benefits of timed testing, automatic scoring, and a detailed score report.

Improving Your Score: e-Flashcards
Once you get your score reports from the online quizzes and tests, you’ll be able to see exactly which topics you need to review. Use this information to create your own flashcards for the areas where you are weak. And, because you will create these flashcards through the REA Study Center, you’ll be able to access them from any computer or smartphone.

Not quite sure what to put on your flashcards? Start with the 100 free cards (50 for AP Microeconomics and 50 for AP Macroeconomics) included when you buy this book.

After the Full-Length Practice Test: Crash Course
After finishing this book and taking our full-length practice exam, pick up REA’s Crash Course for AP Microeconomics and REA’s Crash Course for Macroeconomics. Use your most recent score reports to identify any areas where you are still weak, and turn to the Crash Course for a rapid review presented in a concise outline style.

Table of Contents

About Research & Education Association
Acknowledgments
About Our Author

Chapter 1: Welcome to REA’s All Access for AP Microeconomics and Macroeconomics

Chapter 2: Strategies for the Exams
What Will I See on the AP Economics Exams?
Strategies for the Multiple-Choice Section of the Exam
Strategies for the Free-Response Section of the Exam

Chapter 3: Basic Economic Concepts
Economics and Economic Questions
Economic Systems and Fields of Economics
Scarcity, Factors of Production, and Opportunity Cost
The Production Possibilities Curve and Productive Efficiency
Comparative Advantage and Trade
Marginal Thinking and Allocative Efficiency
The Circular Flow Model
Demand, Supply, and Market Equilibrium
Practice, Practice, Practice
Economic Cycles and Thinking Across Time
Quiz 1.................................................... available online at www.rea.com/studycenter

AP Microeconomics

Chapter 4: The Nature and Function of Product Markets
A Closer Look at Demand, Supply, and Equilibrium
Households: Consumer Choice and Utility Maximization
Firms: Costs of Production and Profit Maximization
Four Product Market Structures: An Overview
Quiz 2.................................................... available online at www.rea.com/studycenter

Chapter 5: Factor Markets
New Roles in the Circular Flow
Demand and Supply of Resources
How Firms Maximize Profit
Factor Market Graphical Analysis
Quiz 3.................................................... available online at www.rea.com/studycenter

Chapter 6: Market Failure and the Role of Government
What Is Market Failure?
Externalities
Government Provision of Goods
Taxes
Income Distribution
Quiz 4.................................................... available online at www.rea.com/studycenter
Mini-Test 1............................................ available online at www.rea.com/studycenter

AP Macroeconomics

Chapter 7: Measuring Economic Performance
Gross Domestic Product and National Income
Inflation
Unemployment

Chapter 8: The Aggregate Demand and Aggregate Supply Model
Goal of the Aggregate Demand and Aggregate Supply Model:
Income and Price Determination
Aggregate Demand as a Concept
Net Export Effect
Aggregate Demand’s Components and Their Behavior
Aggregate Supply
Aggregate Supply in the Short Run and the Long Run
Short- and Long-Run Equilibrium in the AD-AS Model
Quiz 5.................................................... available online at www.rea.com/studycenter

Chapter 9: Banking and the Financial Sector

Money and the Money Supply
The Banking Process
Interest Rates, Money Demand, and the Money Market
The Federal Reserve

Chapter 10: Fiscal and Monetary Policies in Action
Fiscal Policy Explained
Fiscal Policy and Interest Rates
Combinations of Fiscal and Monetary Policy
Unemployment and Inflation: The Phillips Curve
Quiz 6 ................................................... available online at www.rea.com/studycenter

Chapter 11: Economic Growth
The Concept of Growth
Determinants of Growth
Growth Policy

Chapter 12: The International Sector, Trade Accounting, and Exchange Markets
Trade Accounting and Balance of Payments Accounts
Foreign Exchange Markets and Exchange Rates
Quiz 7.................................................... available online at www.rea.com/studycenter
Mini-Test 2 ........................................... available online at www.rea.com/studycenter

AP Microeconomics Practice Exam (also available online at www.rea.com/studycenter )
Answer Key
Detailed Explanations of Answers

AP Macroeconomics Practice Exam (also available online at www.rea.com/studycenter )
Answer Key
Detailed Explanations of Answers

Appendices
Key Graphs
Key Formulae
Glossary of Key Economic Terms
Index

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AP Microeconomics and Macroeconomics All Access 3 out of 5 based on 0 ratings. 2 reviews.
Anonymous More than 1 year ago
This book gets one star because it is a Nook book which means, you can't print any pages or portions of pages which when it comes to studying is key. Key concepts can't be highlighted, or marked to facilitate coming back to. The content in the book is great, the format stinks.
Anonymous More than 1 year ago
This book is highly deserving of its exceptional rating because of many factors.  I am fortunate to have had his instruction in both AP European history and also AP Micro and Macro economics. He is an outstanding teacher in the classroom, and no less can be said about this book.   The book is filled with all of the same handy tricks and detailed explanations that Mr. Smith gives in class, and that many would find useful. These make  learning fun and immersive. Do not be intimidated by the size of the book! With narratives strongly resembling an in-class lecture right off the pages of the book, every page is worth reading. The book also features vast online features with flash cards and tests that are very easy to access and use, all included with the book.  For all these reasons, this book is completely worth buying and using.