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PRAXIS II Economics Exam
The PRAXIS II Economics Exam is taken by candidates interested in teaching secondary school economics to secondary level students. The exam is composed of 100 multiple choice questions. The exam may include a 15 to 18 questions unscored pretest. Candidates have two hours to complete the exam.
The Microeconomics I: Scarcity, Choice and Opportunity Costs, Economic Systems, Comparative Advantage and Trade, Supply and Demand Elasticity, Market Efficiency section of the exam covers efficiency markets, taxes and subsidies, public policy, market failures, government responsibility, tax incidence, income and price elasticity, revenue, the law of supply and demand, trade and comparative advantage, scarcity, choice, opportunity, and economic systems.
The Microeconomics II: Production and Cost, Product Markets, Behavior of Firms, Income Distribution section of the exam covers organization of business, production factors, pricing , labor markets, wages, monopolies, oligopoly, antitrust laws, monopolistic competition, production, costs, and profit.
The Macroeconomics I: Measures of Economic Performance, National Income Accounting, Unemployment, Inflation and Business Cycle section of the exam covers the consumer price index, inflation, the impact of unemployment on the economy, the National Income Accounting gross domestic product, measurements of income, and the gross national product.
The Macroeconomics II: National Income Determination, Fiscal Policy, Money and Banking, Monetary Policy, International Finance and Investment, and Economic Growth section of the exam covers long run economic growth, international investments, international finance, foreign exchange markets, monetary policy and open market operations, discount rates, the purpose of money, the history of banking, the Federal Reserve System, fiscal policy, budget deficits, budget surpluses addresses determination of national income, economic fluctuation, and the business cycle.