Principles of Macroeconomics CLEP Exam Free Study Guide

Considering level of difficulty, the Principles of Macroeconomics CLEP exam is mid-range. The test covers concepts most high schoolers know only a little about, but those concepts are largely inter-connected. With the right study resources and strategy, you can understand those concepts, how they fit together, and how to pass this test with ease.


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The Questions You Are Asking

HOW HARD IS THE Principles of Macroeconomics CLEP EXAM?

It is average. On InstanCert's website, 94% of reporting users passed the test, other test-takers rank it as a 3 out of 5 for difficulty, and I got a good score on that CLEP myself after studying for twenty-one days.

You should take the Principles of Macroeconomics CLEP exam seriously, but you should be careful not to stress over it. With cool-headed and strategic applications of your mind and the study resources we suggest, you will drastically increase your chances of passing this CLEP exam. This test is not even one of the harder CLEP exams and is very passable.

ARE THERE PRACTICE TESTS? 

Yes, there are. Peterson's offers the best practice tests we know of. And REA has dependable practice tests you can use too. 

WILL THIS EXAM FIT INTO MY DEGREE PLAN?

Very possibly, but it depends on your college. Our MyCollege Online Workshop will train you in how to know which exams you can use.

WHAT ARE THE EASIEST STUDY RESOURCES TO USE FOR THE Principles of Macroeconomics CLEP EXAM?

  • We recommend College Board's study guide because they will show you exactly what the test is about ($10). 
  • Peterson's practice tests will help you to assess your readiness to take the test and show you specific subject areas you need to study more ($19.95).
  • The REA Principles of Macroeconomics book and practice tests will give you a broad overview of the subject and more opportunities to assess your knowledge of specific subject areas ($34.95).
  • We recommend SpeedyPrep's flashcards to you because they 100% guarantee that you will pass your CLEP test, and they are very easy to use ($19.95/month). SpeedyPrep also includes comprehensive video lectures on most of the topics their flashcards cover. Plus, we have a $10 off discount code for your first month: MYCOLLEGE.

Total Cost: $74.85

HOW CAN I SAVE MONEY ON STUDY RESOURCES FOR MY CLEP EXAM?

 If you are on a tight budget, we recommend three study resources: College Board's free informationSpeedyPrep with a MYCOLLEGE discount code, and Google. College Board will give you general information about the test, SpeedyPrep will guarantee that you pass, and Google will help you to research things you need to learn more about. 

Total Cost: $ 9.95


My Experience with the Principles of Macroeconomics CLEP

I had taken a high school economics course the year before, so I thought I was prepared for an economics CLEP exam. But I was wrong. This test explored concepts that I had not heard of before and was not prepared to be tested on. So, I pulled out my favorite study resources (Petersons' practice tests, online flashcards, and the REA book) and started working at it. 

My first practice test, I scored a 38 out of 80. After a lot of study, I scored a 52. I do not know what my third practice test score was, but it must have been high enough for me to be ready to take the test. Three weeks after I began studying for the Principles of Macroeconomics CLEP exam, I signed up for and took the test.

I passed with a 65.

THINGS I LEARNED

  1. I learned that your first practice test score being low does not mean you should not take the CLEP test. It just means that you need to study more. I got a very low score on my first practice test--a score that came close to convincing me to try my luck elsewhere. But I kept studying and was able to pass.
  2. I learned that a low right-before-the-test practice score does not always need to be enough to keep a tester away from his or her CLEP exam. I do not know what my third practice test score was or even if I took a third practice test, but it could not have been very high. I took the risk because I was confident that I knew the information (even if the questions chosen for the Peterson's practice tests did not collaborate it) and scored very high on the CLEP itself. 
  3. I learned how helpful taking the equivalent high school course can be. If I had not taken a semester-long course on economics in high school, I would have known little about economics and gotten a much smaller practice test score that might have persuaded me to study for a different test.

YOU WILL HEAR ALL ABOUT THE BEST CLEP STUDY RESOURCES AND WAYS TO SAVE MONEY ON COLLEGE. YOU WILL NOT BE SORRY. WE PROMISE.


Principles of Macroeconomics CLEP Exam Details 

The Principles of Macroeconomics CLEP exam focuses on big-picture economic issues. It is similar to the Microeconomics CLEP exam--they both use similar terms and similar concepts--but it will test you on your knowledge of how economic principles affect countries and the globe. The test will be on issues like aggregate supply and demand and scarcity, unemployment, inflation, and more. All of this makes this test not only a very interesting CLEP exam, but also very relevant to discussions about the United States' financial and political situations. Studying for this exam will challenge and educate you in ways that lead you not only to passing but also to a better understanding of the world.

Length: 80 questions

Time90 minutes

ACE Recommended Score: 50

ACE Recommended Credit: 3

 

(Move your mouse over the charts below to see what is required for the exam.)

PRINCIPLES OF MACROECONOMICS CLEP SKILLS

Principles of Macroeconomics CLEP Subject Matter

(Go to College Board's website for more detail.)


College Acceptance Examples

  • Thomas Edison State University requires a score of 50 and accepts it as ECO 111, a 3 credit class.
  • Liberty University requires a score of 50 and accepts it as ECON 214, a 3 credit class. 
  • University of Phoenix requires a score of 50 and accepts it for 3 credits

Example Questions

  1. True or false: "Macroeconomics is concerned with the study of the market system on a large scale."
  2. What is the Gross Domestic Product (or GDP)?
  3. How is the Gross National Product different from the GDP?
  4. Number of people employed divided by number of people in the civilian labor force will result in what rate?
  5. The aggregate demand curve is most often considered in conjunction with what other curve?

 

(Answers below)


Other Top Study Resources You Can Use

  • DegreeForum - Free - This is the best discussion board out there for MyCollege students. The board members give helpful advice on planning one's degree and passing specific CLEP and DSST exams.
  • InstantCert - $20/month - When you sign up for InstantCert using our discount code 48990, you save money and get access to flashcards for 55 CLEP and DSST exams as well as locked portions of the DegreeForum message boards. 
  • Cliff's Notes: Economics - free - The Cliff's Notes website includes a broad overview of economics in general. While not focused directly on the CLEP test, it is inexpensive and very thorough. We recommend reading through the materials on economics, but you can also look up specific topics that you are curious about there. 
  • Textbooks - varies - College Board recommends and so do we that you study with the textbooks you will find on their website. The CLEP tests are often written with certain textbooks in mind or by professors who have written some of the suggested textbooks.
  • Free-CLEP-Prep - $15.99 and Free - Free-CLEP-Prep is run by Justin Orgeron and contains helpful study guides for MyCollege students. Justin's study resources include personal advice about the test, links to important topics in the test, a free practice test, and sometimes a study package sold for $15.99 that includes two more practice tests and a well-researched prep sheet that covers "every topic that our visitors had told us that they had a question about."

Overlap with Other CLEP and DSST Exams

The Principles of Macroeconomics CLEP shares overlap with three other tests:

  1. Social Sciences and History CLEP is 10% about economics and could cover anything from the Principles of Macroeconomics CLEP exam. 
  2. Money and Banking DSST contains 80% material that matches 60% of the Principles of Macroeconomics CLEP exam.
  3. The Principles of Microeconomics CLEP contains approximately 38% material that matches approximately 50% of the Principles of Macroeconomics CLEP exam.

If you need to pass the Principles of Macroeconomics CLEP exam and any of these other tests, we recommend you take them in this order (barring tests you do not wish to take):

  1. Principles of Microeconomics CLEP
  2. Principles of Macroeconomics CLEP
  3. Money and Banking DSST
  4. Social Sciences and History CLEP

We recommend that students take the most specific tests first because that will ensure excellence on a portion of future broader tests and because much information will not apply when transitioning from a broad to a specific exam. In this case, we believe, too, that the Microeconomics CLEP will provide a grounding in economic principles that students can carry over to their studies of macroeconomics, which will directly translate to the Money and Banking DSST, leaving them prepared for a small portion of the Social Sciences and History CLEP.


The MyCollege Study Plan

  1. Begin by taking the first Peterson's practice test and studying the answers. If you score 80%, skip to step 5. If 70%, skip to step 4.
  2. Read the REA study book and other textbooks you are using. 
  3. Take your second Peterson's practice test, studying the answers. If 80%, skip to step 5.
  4. Use SpeedyPrep flashcards.
  5. Take your third Peterson's practice test, studying the answers. If you score less than 80%, return to step 4.
  6. Take your test.

*We cannot guarantee that you will pass if you follow this study guide, but it will increase your chances greatly and help you to thoroughly learn the material. If you want a guarantee of passing, SpeedyPrep's flashcards and video lectures can help you.


Example Questions Answers

  1. True. Read more.
  2. The GDP is the value of goods and services produced within a country in a year. Read more. 
  3. The GNP counts all services and products produced by a country's citizens outside of the country. Read more. 
  4. The unemployment rate. Read more. 
  5. The aggregate supply curve. Read more. 

How Do I Take It in High School?

If you attempt to take the Principles of Macroeconomics CLEP exam in high school, you will likely be able to pair it with a twelfth grade economics class that most students take. However, while this economics class may give you a brief overview of economics, you will find that your knowledge will not be enough to pass this test, especially since those high school classes can be focused on microeconomics.

You will need to take that high school level class. You can then simultaneously study for the CLEP exam, or you can wait until after you pass that class to then study for and take the CLEP exam. 

If you choose the former, you likely will find that your high school grades improving dramatically, and you will be prepared to take the CLEP exam when you are ready to take your final exam for your high school course. We even suggest (if your teacher will let you) that you take this CLEP as a final exam for that high school class. After all, if you can pass a college level exam, you can pass a high school one, right?

If you choose the latter, we suggest you take a Peterson's practice test right away and then begin using the study schedule we mention above.


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Conclusion

The Principles of Macroeconomics CLEP exam is just what you need to fill out your college's economics or free elective requirements. This test is of average difficulty and on a topic that everyone should know a little bit about. With the study guide and resources we have provided, we are confident you will be able to pass this test with less study than you expect.