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The Calculus examination covers skills and concepts that are usually taught in a one-semester college course in calculus. The content of each examination is approximately 60% limits and differential calculus and 40% integral calculus. Algebraic, trigonometric, exponential, logarithmic, and general functions are included. The exam is primarily concerned with an intuitive understanding of calculus and experience with its methods and applications. Knowledge of preparatory mathematics is assumed, including algebra, geometry, trigonometry, and analytic geometry.
The Principles of Management examination covers material that is usually taught in an introductory course in the essentials of management and organization. Questions on the exam require you to demonstrate knowledge of management functions and techniques, and ability to associate the meaning of specific terminology with important management ideas, processes, and techniques. You will also be required to apply knowledge, general concepts, and principles to specific problems.
The Principles of Macroeconomics examination covers material that is usually taught in a one-semester undergraduate course in this subject. This aspect of economics deals with principles of economics that apply to an economy as a whole, particularly the general price level, output and income, and interrelations among sectors of the economy. The test places particular emphasis on the determinants of aggregate demand and aggregate supply, and on monetary and fiscal policy tools that can be used to achieve particular policy objectives. Within this context, candidates are expected to understand basic economic concepts such as scarcity and comparative advantage and measurement concepts such as gross domestic product, consumption, investment, unemployment, and inflation. Candidates are also expected to demonstrate knowledge of the institutional structure of the Federal Reserve Bank and the monetary policy tools it uses to stabilize economic fluctuations and promote long-term economic growth, as well as the tools of fiscal policy and their impacts on income, employment, price level, deficits, and interest rate. Basic understanding of foreign exchange markets, balance of payments, and effects of currency appreciation and depreciation on a country's imports and exports is also expected.
The Principles of Microeconomics exam covers material that is usually taught in a one-semester undergraduate course in introductory microeconomics, including economic principles that apply to the behavioral analysis of individual consumers and businesses. You will be required to apply analytical techniques to hypothetical as well as real-world situations and to analyze and evaluate economic decisions. You're expected to demonstrate an understanding of how free markets work and allocate resources efficiently, how individual consumers make economic decisions to maximize utility, and how individual firms make decisions to maximize profits. You must be able to identify the characteristics of the different market structures and analyze the behavior of firms in terms of price and output decisions. You should also be able to evaluate the outcome in each market structure with respect to economic efficiency, identify cases in which private markets fail to allocate resources efficiently, and explain how government intervention fixes or fails to fix the resource allocation problem. It is also important to understand the determination of wages and other input prices in factor markets, and be able to analyze and evaluate the distribution of income.