Advanced Placement (AP) Microeconomics (also known as AP Micro) 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.
[citation needed] Topics covered in the AP Microeconomics course and exam include:[2] 94,772 students took the AP Microeconomics exam in 2023.
[4] The exam was first held in 1989, along with Macroeconomics.