AP Microeconomics

Enrollment Message:

ATTENTION: This course has REQUIRED due dates. Due dates in AP courses occur prior to the College Board’s national AP exam date. The pacing ensures completion of all required lessons and assessments prior to the AP Exam. Official AP Course and Exam Descriptions are located on the AP Central website. Michigan Virtual prepares students for the AP exam but does not offer the AP exam. It is the responsibility of the school or parent to register for a local administration of the AP exam. AP courses often require students purchase a College Board approved textbook. Please refer to the Additional Costs section of the syllabus to locate any required textbooks or materials.

This single-semester course introduces students to the economic principles that apply to consumers and producers in an economic system and focuses on the nature and function of product markets, the study of factor markets and the role of government. Content in each lesson is presented in a variety of formats including a Textbook, videos and other internet resources. Students are given the ability to select from some, or all of these resources, based on their own learning preferences and needs. Regular practice opportunities allow students to gauge their understanding and preparedness before attempting graded quizzes and tests. In order to maintain the integrity of AP standards, all AP course midterm and final exams must be proctored. Prerequisites: Algebra I

Course Objectives: Upon completion of this course, students will be able to describe basic economic concepts.

• They will also better understand the nature and function of product markets in regard to supply and demand,

• the theory of the consumer, firm production, costs and markets, profit maximization and perfect competition,

• and the three types of competition: monopoly, oligopoly, and monopolistic.

• Students will be able to identify the characteristics of factor markets and the reasons for market failure and government involvement.

Course Outline:

Unit 1: Basic Economic Concepts

Unit 2: The Nature and Function of Product Markets: Supply and Demand

Unit 3: The Nature and Function of Product Markets: The Theory of the Consumer

Unit 4: The Nature and Function of Product Markets: Firm Production, Costs and Markets

Unit 5: The Nature and Function of Product Markets: Profit Maximization and Perfect Competition

Unit 6: The Nature and Function of Product Markets: Monopoly, Oligopoly, and Monopolistic Competition

Unit 7: Factor Markets Unit 8: Market Failure and the Role of Government

Resources Included: N/A

Additional Costs: Required Textbook: Krugman, Paul, David Anderson, Margaret Ray, and Robin Wells (2015). Krugman's Economics for AP®, 2nd Edition. Worth Publishers. Hardcover: ISBN-13: 978-1464122187, eBook: ISBN-13: 978-1464122187.

Scoring System: Michigan Virtual does not assign letter grades, grant credit for courses, nor issue transcripts or diplomas. A final score reported as a percentage of total points earned will be sent to students upon completion of a course. Your school mentor is also able to access this score within the Student Learning Portal. Schools may use this score for conversion to their own letter grading system.

Time Commitment: Semester sessions are 18-weeks long: Students must be able to spend 1 or more hours per day in the course to be successful. Summer sessions are 10 weeks long: Students must be able to spend a minimum of 2 or more hours per day, or about 90 hours during the summer, for the student to be successful in any course. Trimester sessions are 12-weeks long: Students must be able to spend 1.5 or more hours per day in the course to be successful.

Technology Requirements: Students will require a computer device with headphones, a microphone, webcam, up-to-date Chrome Web Browser, and access to YouTube.

Please review the Michigan Virtual Technology Requirements: https://michiganvirtual.org/about/support/knowledge-base/technical-requirements/ 

Instructor Support System: For technical issues within your course, contact the Customer Care Center by email at [email protected] or by phone at (888) 889-2840.

Instructor Contact Expectations: Students can use email or the private message system within the Student Learning Portal to access highly qualified teachers when they need instructor assistance. Students will also receive feedback on their work inside the learning management system. The Instructor Info area of their course may describe additional communication options.

Academic Support Available: In addition to access to a highly qualified, Michigan certified teacher, students have access to academic videos and outside resources verified by Michigan Virtual. For technical issues within the course, students can contact the Michigan Virtual Customer Care by email at [email protected] or by phone at (888) 889-2840.

Required Assessment: Online assessments consist of formative and summative assessments represented by computer-graded multiple choice, instructor-graded writing assignments including hands-on projects, model building and other forms of authentic assessments.

Technical Skills Needed: No special skills are required beyond being able to operate a computer and use word processing software.

Additional Information: The official course descriptions for Advanced Placement courses and information about their exams are located on the College Board site at a http://apcentral.collegeboard.com/apc/public/courses/descriptions/index.html

Michigan Virtual prepares students in AP courses for the AP exam, but does not offer the exam test itself.  It is the responsibility of the school or parent to register for a local administration of the AP exam.  

There are required due dates in AP courses. The pacing of due dates in AP courses aligns to the completion of all lessons and required assignments and assessments prior to the national AP exam date related to this course title. The calendar of AP exam dates is published by the College Board (Exam Calendar).


School Level: High School
Standards: College Board: AP Course Topics and Objectives
NCAA Approved: Yes
Alignment Document: Document
Course Location:
NCES Code: 04203
MDE Endorsement Code: CA - Economics
MMC Minimum Requirements: Soc Stud - Economics

When Offered: _Internal Use Only

Content Provider: Michigan Virtual
Instructor Provider: Michigan Virtual

Course Type: Advanced Placement