CLEP Macroeconomics and Microeconomics

As mentioned in my other thread I will post my interpretation of these two tests.

I took both tests in one day scoring a 65 on macro and 64 on micro.

I would recommend you take Macro first followed my Micro.

After returning from the test, I reviewed the review topics and percentages listed in the CLEP Principles of Macroeconomics and CLEP Principles of Microeconomics test descriptions found at the collegeboard.com site. The percentages and topics followed exactly as listed.

These are the only resources I used to prepare for and pass the tests:

DeBoers Macroeconimics Lecture Notes

(This is by far the easiest read you will find. Dont forget to get his quarter and final tests to check your progress)

CyberEconomics

AmosWEB

I found the Microeconomics test more difficult than the Macro. Perhaps this is because I spent half as much time preparing and Micro spends more time on what-if scenarios regarding profit and production output levels.

I found I spent too much time studying influential economist theories. ( if i looked at the test description prior to studying, I wouldnt have wasted this time )

If you have any specific questions, please dont hesitate to post.

Happy Holidays,
Boomer

 

Boomer, thanks much for the info. As I mentioned in the other thread, a number of us here are about to challenge these tests, so your arrival here is very timely and welcome.

Can you provide some overview, or your thoughts, on the types of questions asked? I would imagine there are numerous "graph analysis" type questions (what does point "A" mean on the demand curve shown, if there is an oil shortage, at which point will the new equilibrium point be, etc). Are the graph questions sparse or numerous? Are there a lot of "what if" type questions?

Every little tidbit of intel helps.

Cheers.

 

The reference you gave was a Macro reference. There werent many graph type questions on my test. The ones that were there would typicaaly ask something like the following...

A rightward shift in the demand curve for Rock CDs would be caused by.. a) b) c) d)

or

An increase in productivity would cause what to happen?
a) a right shift in demand curve
b) a left shift in demand curve
c) a right shift in supply curve
d) a left shift in supply curve

The prior questions are all system shock and resolution questions. They are a good deal of the test, say 25%.

Other questions were about money supply and resolution of recessed and inflationary markets. Know the purpose of the Fed and what tools it and the banking system has to control the supply of money.

Understand the different types of money - M1, M2, etc... I had about 5 question on this.

Understand Keynesian theory - have a general understanding of Keynesian vs. classical and supply side economics. There were no questions as to historical relevence of each economic school of thought. (e.g. who, when, etc... Just know the what and how does it work)

There were a few questions on subsidies.

On my test I did not see any questions regarding labor laws.

now....

The Micro test had alot of questions that I had to draw chart sketches on my scratch paper to visualize. There are ALOT of these types of questions on the test. Know how the charts work and you are well on your way to passing this one.

Hope this helps as a start.

Boomer

 

Fantastic info!

 

oh, forgot to mention that these tests took me about 60 minutes each to complete.

Happy holidays

Boomer

 

Boomer,

Thanks for posting these - I took macro today and got a 70, and the DeBoers notes were VERY useful as a brush-up - I took the sample and final exams (except for the historical questions) today after scoring 35/50 on the official CLEP sample.

The Standard Deviants tape was also useful as a starting point, especially if you fast forward past their "skits".

Cheers,
Mark