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Advanced Placement Economics: The Good, the Bad, and the Ugly

Author

Listed:
  • Tawni H. Ferrarini
  • James D. Gwartney
  • John S. Morton

Abstract

In 2010 the College Board and Educational Testing Service (ETS®) administered 134,747 Advanced Placement (AP®) microeconomics and macroeconomics exams to high school students. The exams are designed to represent the introductory-level micro and macro courses taught in college, and students can earn college credit if they “pass” the exams. The present article discusses the beneficial effects of AP economics and suggests modifications that would improve the program as a tool of economic education. The modifications include more emphasis on economic reasoning relative to mechanics; the integration of property rights, entrepreneurship, and dynamic competition into the content; and correction of the imbalanced presentation of topics involving markets and government. With regard to the last point, “market failure” is a component of the courses, but there is no parallel treatment of “government failure.” AP economics courses attract many of our brightest high school students, and it is important that they be equipped with the tools of economic reasoning and an accurate view of the current state of scholarship in the field.

Suggested Citation

  • Tawni H. Ferrarini & James D. Gwartney & John S. Morton, 2011. "Advanced Placement Economics: The Good, the Bad, and the Ugly," Econ Journal Watch, Econ Journal Watch, vol. 8(1), pages 57-75, January.
  • Handle: RePEc:ejw:journl:v:8:y:2011:i:1:p:57-75
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    File URL: https://econjwatch.org/file_download/473/FerrariniJanuary2011.pdf?mimetype=pdf
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    References listed on IDEAS

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    1. Dan Johansson, 2004. "Economics Without Entrepreneurship or Institutions: A Vocabulary Analysis of Graduate Textbooks," Econ Journal Watch, Econ Journal Watch, vol. 1(3), pages 515-538, December.
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    Citations

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    Cited by:

    1. William Keech & Michael Munger, 2015. "The anatomy of government failure," Public Choice, Springer, vol. 164(1), pages 1-42, July.
    2. repec:ejw:journl:v:14:y:2017:i:2:p:196-217 is not listed on IDEAS

    More about this item

    Keywords

    Advanced Placement (AP); Advanced Placement Macroeconomics; Advanced Placement Microeconomics; economic reasoning; Keynesian; mechanistic approach;

    JEL classification:

    • A20 - General Economics and Teaching - - Economic Education and Teaching of Economics - - - General
    • A21 - General Economics and Teaching - - Economic Education and Teaching of Economics - - - Pre-college

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