Principles of Macroeconomics CLEP Exams

Description of the Exam

Macroeconomics is the study of the economy on the large scale. Where microeconomics may apply to your corner store, macroeconomics applies to what the federal government does. This exam tests your knowledge of things such as monetary policies and what their affects will be on the economy as well as other high level economic theory. This exam is really just a first year course in macroeconomics so don’t worry with all the specifics and concentrate more on understanding an overview of the theories. As with some of the other technical exams learning the definition of GDP, inflation, unemployment, and other terms is essential to passing.

As with most of the CLEP exams this exam is multiple choice. Their will be approximately 80 questions and you have 90 minutes to finish.

General Description

8-12% Basic Economic Concepts
12-16% Measurement of Economic Performance
10-15% National Income and Price Determination
15-20% Financial Sector
20-30% Inflation, Unemployment, and Stabilization Policies
5-10% Economic Growth and Productivity
10-15% Open Economy: International Trade and Finance

Studying For The Macroeconomics CLEP Exam

This course is basically a first year macroeconomics course that you would take in any college. Thus if your attending a college already check out what book is used in your first year macroeconomics course. You can then either buy it or just get it from the library. This should be fine but make sure to check the chapters in the book versus the sections listed above. One of the best things you can do for this exam is to learn all the vocabulary that is used in macroeconomics. Many of the questions will be easy for you if you thoroughly understand what the vocabulary they are using.