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Understanding the Principles of Macroeconomics and Principles of Microeconomics CLEP Tests

Many college students majoring in business have to take the equivalent of four semesters of general education and introductory level courses before entering their college’s business program. There are many different undergraduate degrees in the business field. The introductory courses that students with various business majors must take often include some of the same courses. For example most marketing, finance, and management majors must take introductory courses on macroeconomics, microeconomics, or sometimes both in order to enter their desired undergraduate business program. Introductory level macroeconomics and microeconomics courses are typically each a three semester course, meaning that students will spend three hours attending class each week during a fall or spring semester. In addition to time spent in the classroom, students often spend hours each week in the library, dorm room, or at home studying for tests and quizzes and completing required projects and coursework. Some professors may even require group projects, which can be especially time consuming. Many undergraduate students may be attending colleges or universities that actually allow students to earn credits for their introductory level macroeconomics and microeconomics courses through taking standardized exams known as CLEP exams.

<a href=http://www.speedyprep.com/>CLEP</a> exams allow students to earn college credits through achieving qualifying scores on standardized tests in a variety of subjects such as social sciences, history, composition, literature, mathematics, and science. There are no prerequisite requirements to <a href=http://www.speedyprep.com/>CLEP tests</a>, meaning that students do not have to have completed a certain course or have certain qualifications in order to take the exam. Students may already possess the knowledge required to take a CLEP exam or they may acquire the knowledge through independent study. Students can often prepare for a CLEP exam in as little as a few days or weeks using methods such as college textbooks, online CLEP prep systems, or exam study guides. The amount of time involved with preparing for and taking a <a href=http://www.speedyprep.com/>CLEP test</a> is much less than the time associated with taking the actual course. In addition to the time savings, CLEP exams, which each cost $72 to take, represent a huge savings compared to the cost of tuition.

Learning about the Principles of Microeconomics and Principles of Macroeconomics CLEP tests can help students who wish to use CLEP to earn credits toward their degree without actually having to attend the courses. Each of these 90 minute long computerized exams contains 80 multiple choice questions. The Principles of Microeconomics CLEP test covers material typically taught in a one-semester long introductory microeconomics course. Microeconomics is the branch of economics that deals with the economic behavior and decisions of individual consumers and firms. Specifically, the Principles of Microeconomics CLEP test covers the following topics: basic economic topics, the nature and function of product markets, factor markets, and market failure and the role of the government.

Macroeconomics is the study of economic principles that apply to the economy as a whole. The Principles of Macroeconomics CLEP test covers material taught in an introductory, one-semester long macroeconomics course. The Principles of Macroeconomics CLEP test covers the following topics: basic economic concepts; measurement of economic performance; national income and price determination; financial sector; inflation, unemployment, and stabilization policies; open economy (international trade and finance); and economic growth and productivity. Examinees taking either the Principles of Macroeconomics or Principles of Macroeconomics CLEP tests will be expected to have a thorough knowledge of key economic terms and concepts, be able to analyze and use various economic graphs, understand and assess economic data, and apply basic economic models. More information on the Principles of Macroeconomics and Principles of Microeconomics CLEP tests can be found on the website of the College Board, the company overseeing CLEP.

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With over 2,900 colleges and universities accepting credits earned through CLEP exams, many students will find that they can use CLEP tests to quickly and affordably earn credits toward their degree. A quick meeting with an academic counselor can be quite helpful in learning more about the college or university’s CLEP policies and finding out how the student can best benefit from CLEP.

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