What the Course Entails and Exam Details

The course and its practice exam are divided into core competencies that cover the entire landscape of fundamental economics, balancing microeconomic and macroeconomic theory. The practice exam mirrors the breadth and depth of the course curriculum. Key areas include:

1. The Economic Way of Thinking: Mastering concepts of scarcity, opportunity cost, the production possibilities frontier (PPF), and specializing based on comparative advantage.

2. Microeconomics Fundamentals: Understanding consumer behavior, the mechanics of supply and demand, elasticity, and the four main market structures (perfect competition, monopoly, oligopoly, and monopolistic competition).

3. Macroeconomics Fundamentals: Analyzing aggregate supply and demand (AD-AS model), Gross Domestic Product (GDP), unemployment, and inflation. You will also learn to differentiate between fiscal and monetary policy.

4. International Economics: Exploring the benefits of trade and the impact of trade barriers.

What to Expect in the Final Exam

It is important to understand that the practice exam is not the final barrier to completion. WGU utilizes a high-stakes final exam called the Objective Assessment (OA). While the Practice Exam (PA) mimics the format and content, the Final (OA) is the official proctored test you must pass.

The final exam is an online, multiple-choice assessment that you will schedule and take from the convenience of your own space. It requires a specific passing percentage and has a set time limit. Unlike the practice exam, the OA is securely proctored to ensure academic integrity. Successful completion of this exam demonstrates that you have met all the necessary competencies for the course and are ready to move on.

How to Study and Exam Centers

Preparation is key to conquering this comprehensive course. Use the practice exam strategically with this pro-tip method:

1. Take the Practice Exam First: Before diving deep into the course material, take the practice exam (PA) once without any notes to establish a true baseline of your existing knowledge.

2. Analyze Your Coaching Report: WGU provides an immediate, detailed 'Coaching Report' after every PA. This report is your personalized study map, showing you exactly which competencies you have mastered ('Proficient') and which require improvement ('Approaching Competency').

3. Focus on Weak Areas: Dedicate your study time to the specific sections of the course materials that the Coaching Report identifies as weak. Utilize all available WGU resources, such as textbook reading, interactive cohorts, supplemental videos (especially "Brian's Videos" in course resources), and practice quizzes within the modules.

4. Retake the Practice Exam: Once you have studied, retake the PA. Your goal is to secure a score comfortably above the required proficiency line across all competencies before you schedule your final Objective Assessment.

Exam Centers and Proctoring

WGU is an online university, and all exams, including the final Objective Assessment, are taken remotely via secure online proctoring services like Examity. You can take your exam 24/7 from any location that meets the technological requirements and provides a quiet, private, and secure environment. You will be monitored via webcam to verify your identity and ensure academic integrity.

Job Opportunities from the Course

A strong foundation in economic principles is a highly transferable skill, valued across numerous business, analytical, and public sector career paths. Successful completion of this course and the final exam prepares you for diverse roles such as:

• Financial Analyst

• Market Research Analyst

• Policy Analyst

• Data Analyst

• Public Administrator

• Economic Consultant

• Supply Chain Analyst

• Bank Loan Officer

• Economic Researcher

• Business Analyst