Macro woes....

[studyhard]

I fell I'm finally ready to take the Macroeconomics CLEP. I've been over all the InstantCert material, and have 17 pages of notes to show for it. I've also read through the CliffsAP Economics section for Macroeconomics. I've taken two of the Peterson tests and scored 54% and then 65% respectively. I'll be taking the test on Tuesday and will post my results then. Wish me luck.

Good luck! You'll probably do fine. I figured I would score in the upper 50s or low 60s and I got a 73 on this last week. I was pretty shocked.

Be sure and know the money multiplier for banks (1/reserve ratio) and also the money multiplier (1/MPS) or (1/1 - MPS). There were a variety of questions that required you to know those and do some quick calculations.

Also, be sure you know the difference between fiscal policy and monetary policy. A lot of questions were carefully worded on this and required you to pay close attention and know the difference.

[Old Rusty Pipe]

Just took the Macroeconomics CLEP. I scored a 58. Only Microeconomics left.

[Pat3r]

I took the micro and macro on the same day, passed both no problems, had 8 hours of prep and got a 65 and 68. Practice some graphs because they are on the test. Get CliffsAP for Micro and Macro. If you know Cliffs you will pass.

[Kiwi Lover]

I took the micro and macro on the same day, passed both no problems, had 8 hours of prep and got a 65 and 68. Practice some graphs because they are on the test. Get CliffsAP for Micro and Macro. If you know Cliffs you will pass.

Pat,

It sounds like you did GREAT with very little study time! Good for you! However, speaking for myself, if I had only spent 8 hours of prep time for these exams, I most likely would have failed them!

My advice to anyone looking to take these exams is to take as much time as YOU need to learn the subject...and not try to "compete" with what you see posted in the forum.

WELL DONE Pat!

JoAnne

[ShotoJuku]

....My advice to anyone looking to take these exams is to take as much time as YOU need to learn the subject...and not try to "compete" with what you see posted in the forum.

JoAnne

[SIZE="5"]Excellent Point!![/SIZE]

[SIZE="4"]

Pace yourself and no one else!![/SIZE]

[iwannapass]

Congratulations!!! I know you feel so much better. Any ideas or tips you can share will be greatly appreciated.

[bceagles]

Brain Dump!!! What do you remember from the exam? I need to retake Macro next month!!

[Old Rusty Pipe]

I didn't find Macroeconomics to be an extremely difficult test. InstantCert should be enough to get a passing score. I would suggest using the Peterson practice exam for this one just to hone's one knowledge.

Several questions were on fiscal and monetary policies. Differences between the two, what the government would to in a recession, etc.

Be aware of the difference between comparitive and absolute advantages in production.

Be familiar with the different kinds of economic theories (Classical, Keynesian, etc.) and how they are different. Also how they are similar.

Money: what it is, its different categories (M1, M2, M3), how it appreciates or depreciates on the foreign exhange market.

[decall]

I took Macro two days ago and scored a 60.

The resources I used were (in order of usage):
Barrons Ez101 study keys (awesome)
Long Vocab Lists
Instantcert

I started studying for this one by going through the first few sections of the IC questions. Then I printed up a list of Macroeconomics terms, which I read through a few times (at the Barbershop, during lunch, etc.) After that I picked up Barrons EZ101 study keys from the library. I read through the topic headings a few times and read through sections listed on the CLEP test outline. On test day I read through the summary paragraphs at the tops of all of the section pages, and read and reread the glossary at the back of the book.

The topics that I remember seeing most frequently on my version of the exam are:

-Differences btwn Monetary and Fiscal Policy
-Aggregate Demand/Supply curves, and what different shifts mean
-Governmental intervention in the Economy
-and Trade deficits

I found the Barron's guide to be very helpful in summarizing the topics well enough to give a general understanding of the concepts.

[mapalo]

DeCall,
Congratulations on this one