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Meet Our Faculty

Meet Prerna Sharma, our esteemed Head of Verbal at Anannt Education and a seasoned trainer in GRE verbal, GMAT, AP, and SAT with an impressive 18+ years of experience. Prerna holds advanced degrees in English Literature, specializing in American Literature, which she seamlessly integrates into her diverse teaching portfolio, including AP Biology, Environmental Sciences, Psychology, and Microeconomics. Her teaching methodology is both innovative and engaging, blending her literary expertise with a deep understanding of each subject to foster critical thinking and a love for learning. Prerna’s approach not only elevates students’ academic performance but also prepares them for the interconnected world of knowledge. Join her classes for an enriching and transformative educational experience.

Prerna Sharma

HOD Verbal - AP Microeconomics

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AP Microeconomics Syllabus

📘 Unit 1: Basic Economic Concepts (12%–15%)

🌍 Scarcity: Understanding that resources are limited while wants are infinite.
🔄 Resource Allocation and Economic Systems: Explore how different economies distribute resources — from market to mixed economies.
📊 Production Possibilities Curve: A graph showing the trade-offs between two goods an economy faces.
↔️ Comparative Advantage & Gains from Trade: Discover why and how countries benefit from trade.
✔️ Cost-benefit Analysis: Making decisions by weighing the pros against the cons.
🔍 Marginal Analysis and Consumer Choice: Understanding decision-making at the margin.

📘 Unit 2: Supply and Demand

🔽 Demand: How the price affects consumer desire and capability to buy.
🔼 Supply: The relationship between price and how much producers are willing to sell.
🌈 Elasticity: Measuring responsiveness to price changes.
⚖️ Market Equilibrium, Disequilibrium, and Changes: Understanding market balance and what causes shifts.
🏛️ Government Intervention in Markets: The impact of price controls, taxes, etc.
🌎 International Trade and Public Policy: Exploring the benefits, costs, and government’s role in global trade.

📘 Unit 3: Production, Cost, and the Perfect Competition Model (22%–25%)

🏭 Production Function: The input-output relationship in producing goods/services.
💸 Short- and Long-Run Production Costs: Understanding various costs and their impacts over time.
💰 Types of Profit: Differentiating between accounting and economic profit.
📈 Profit Maximization: Strategy for maximum profit in perfect competition.
🏦 Perfect Competition: Characteristics of a perfectly competitive market and efficiency outcomes.

📘 Unit 4: Imperfect Competition (15%–22%)

👑 Monopoly: Features of a market controlled by a single seller.
💳 Price Discrimination: How and why prices vary for different consumers.
📦 Monopolistic Competition: A market with many sellers offering unique products.
🤝 Oligopoly and Game Theory: Strategic interactions in markets dominated by a few firms.

📘 Unit 5: Factor Markets (10%–13%)

🛒 Introduction to Factor Markets: Understanding the markets for labor, land, and capital.
🔄 Changes in Factor Demand and Supply: Factors influencing the demand and supply of production inputs.
📊 Profit-Maximizing Behavior in Perfectly Competitive Factor Markets: How firms decide on the optimal mix of inputs.
🤼 Monopsonistic Markets: Dynamics of a market with a single buyer.

📘 Unit 6: Market Failure and the Role of Government (8%–13%)

🚦 Socially Efficient and Inefficient Market Outcomes: What leads to market failures and how to achieve efficiency.
🌱 Externalities: The impact of transactions on third parties not involved in the deal.
🏞️ Public and Private Goods: Differentiating between goods and their market implications.
🏗️ Government Intervention: How governments can correct market failures.
📈 Income and Wealth Inequality: Understanding economic disparities and policy responses.

🎓 AP Microeconomics Exam Structure 🎓

📚 Section I: Multiple Choice

Duration: 1 hour and 10 minutes
Content: This section consists of 60 questions.
Weight: It accounts for 66% of the total exam score.

Skills and Knowledge Tested:

Defining economic principles and models: Students will need to demonstrate their understanding of fundamental economic concepts.
Explaining given economic outcomes: This involves analyzing economic scenarios and explaining the outcomes based on microeconomic principles.
Determining the outcomes of specific economic situations: Students will be asked to predict the results of particular economic changes or policies.

📝 Section II: Free Response

Duration: 1 hour (includes a 10-minute reading period)
Content: This section is made up of 3 questions:
- 1 long free-response question (50% of this section’s score)
- 2 short free-response questions (each worth 25% of this section’s score)
Weight: This section accounts for 33% of the total exam score.

Skills and Knowledge Tested:

Making assertions about economic concepts, principles, models, outcomes, and/or effects: Students will need to state and support their understanding or argument regarding specific economic scenarios.
Explaining economic concepts, principles, models, outcomes, and/or effects: This requires detailed explanations of microeconomic theories and their real-world applications.
Performing numerical analysis and calculations: Students will engage with quantitative data, performing relevant calculations to support their conclusions.
Creating graphs or visual representations (on paper and pencil exams): Demonstrating the ability to visually represent economic models or data trends.
Answering questions about given graphs and visuals (on digital exams): Understanding and interpreting provided economic graphs and visuals.