Course

Course Summary
Credit Type:
Exam
ACE ID:
CLEP-0027
Dates Offered:
Credit Recommendation & Competencies
Level Credits (SH) Subject
Lower-Division Baccalaureate 3 Macroeconomics
Credit is recommended for candidates scoring 50 and above.
Description

Objective:

The Principles of Macroeconomics examination covers material that is usually taught in a one-semester undergraduate course in this subject. This aspect of economics deals with principles of economics that apply to an economy as a whole, particularly the general price level, output and income, and interrelations among sectors of the economy. The test places particular emphasis on the determinants of aggregate demand and aggregate supply, and on monetary and fiscal policy tools that can be used to achieve particular policy objectives. Within this context, candidates are expected to understand measurement concepts such as gross domestic product, consumption, investment, unemployment, inflation, inflationary gap, and recessionary gap. Candidates are also expected to demonstrate knowledge of the institutional structure of the Federal Reserve Bank and the monetary policy tools it uses to stabilize economic fluctuations and promote long-term economic growth, as well as the tools of fiscal policy and their impacts on income, employment, price level, deficits, and interest rate. Basic understanding of foreign exchange markets, balance of payments, effects of currency appreciation and depreciation on a country's imports and exports are also expected.

Skills Measured:

The skills measured include 8 - 12 percent: basic economic concepts; 12 - 16 percent: measurement of economic performance; 15 - 20 percent: national income and price determination; 15 - 20 percent: financial sector; 20 - 25 percent: inflation, unemployment, and stabilization policies; 5 - 10 percent: economic growth and productivity; and 9 - 13 percent: open economy: international trade, and finance.
Instruction & Assessment
Supplemental Materials

Other offerings from College Board's College-Level Examination Program (CLEP)

(CLEP-0007)
(CLEP-0010)
(CLEP-0018)
(CLEP-0038)
(CLEP-0019)
(CLEP-0013)
(CLEP-0040)
(CLEP-0004)