AP Macroeconomics Exam

Course and Exam Updates

Important updates have been made to the AP Macroeconomics course and exam that take effect with the 2022-23 school year (spring 2023 exam):

A four-function calculator is allowed on both sections of the exam. Note that this is strictly a change to the calculator policy and does not affect the exam format (number of sections, number of questions), the types of questions students may see on the exam, the course framework, or the skills.
The Monetary Policy topic of the course (topic 4.6) has been updated to account for monetary policy in a banking system with ample reserves. Teachers who already have a printed copy of the AP Macroeconomics Course and Exam Description can download the updated pages.
Exam questions will reflect the Federal Reserve's updated measurement of the monetary aggregates designated as M1 and M2. Please refer to the footnotes in the Fed's H.6 statistical release ("Money Stock Measures") for a description of the components. Note that there has been no change to the relevant learning objective (MEA-3.C) and essential knowledge statement (MEA-3.C.3) in the AP Macroeconomics Course and Exam Description.

60 Questions | 1 Hour 10 Minutes | 66% of Exam Score

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.

3 Questions | 1 Hour (includes a 10-minute reading period) | 33% of Exam Score

1 long free-response question (50% of section score).
2 short free-response questions (each worth 25% of section score).
Students will be asked 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