Questions about the CLEP MACROECON & Study Materials (IC, REA etc.)

[samsdraft1212]

Hi Everyone,

Taking this test tomorrow and have most of IC's index cards memorized (Basic Economic Concepts, Measurement of Economic Performance, National Income and Price Det pt 1 and 2, working on finishing International Econ and Growth today)

I have a few questions based on what I've read from REA and this forum's macroecon section.

According to REA the sections covered on the test are:
Basic Economic Concepts (8-12%)
Measurement of Economic Performance (10-18%)
National Income and Price Determination (60-70%)
International Economics and Growth ( 10-15 %)

1A) These are the exact same titles as 4 of the 6 sections of IC's course material. Does this mean that I don't really need to memorize Money & Banking and Effectivness of Fiscal and Monetary Policy? because those are the 2 sections I haven't gotten to anyway. Are they included in the National Income & Price Determination area but IC just made them their own sub groups?

1B) I see that many people who passed HIGHLY recommended knowing Fiscal and Monetary policy IN and OUT. I know the definition and difference between the two from studying IC's National Income and Price Det section, or does this mean I really should know the Effectiveness cards?

2) This question may sound stupid, but is there a difference between the multiplier and the money multiplier. I understand the multiplier concept and the MPS, MPC etc. but I noticed that many people said to know multiplier and money multiplier as if they were separate.

Please Reply ASAP!
Thanks,

SD

[MISin08]

Always use the exam outline from the test maker as your study plan. The REA outline looks out of date. If you are taking this in connection with a major in business you may want a better understanding if the topic than a bare-pass will give you (ie. use additional resources to IC and REA)

Phillip

[samsdraft1212]

that just got me nervous, because its a lot different than lots of the things on IC and what people were saying on the feedback forum.

Is it possible that the test has undergone a massive facelift like that within the past 4 or 5 months (date of last post on the feedback forum)?

[skyfall123]

that just got me nervous, because its a lot different than lots of the things on IC and what people were saying on the feedback forum.

Is it possible that the test has undergone a massive facelift like that within the past 4 or 5 months (date of last post on the feedback forum)?

Part of the problem one encounters when asking for different opinions is that you run the risk of getting....different opinions. I found that the IC flashcards covered the material sufficiently enough to pass Macro.

Good luck!!!