{"id":15,"date":"2026-10-13T09:45:40","date_gmt":"2026-10-13T01:45:40","guid":{"rendered":"https:\/\/en.usaebo.com\/?page_id=15"},"modified":"2026-10-19T16:19:07","modified_gmt":"2026-10-19T08:19:07","slug":"syllabus","status":"publish","type":"page","link":"https:\/\/en.usaebo.com\/syllabus\/","title":{"rendered":"USAEBO Syllabus"},"content":{"rendered":"<div class=\"wrap\"><main class=\"home-main topic-main\" data-topic=\"syllabus\" id=\"main\"><nav aria-label=\"Breadcrumb\" class=\"breadcrumb\"><a href=\"https:\/\/en.usaebo.com\/\">Home<\/a><span>\/<\/span><span aria-current=\"page\">Exams &amp; syllabus<\/span><\/nav><header class=\"topic-head\"><h1>Exams &amp; syllabus<\/h1><p>Explore the two exam formats and organize preparation across microeconomics, macroeconomics, and business and finance.<\/p><\/header><nav aria-label=\"Jump to section\" class=\"page-anchors\"><a href=\"#exam-format\">Exam formats<\/a><a href=\"#syllabus\">Syllabus &amp; examples<\/a><a href=\"#reasoning-checks\">Response checks<\/a><a href=\"#exam-requirements\">Exam requirements<\/a><\/nav><section aria-labelledby=\"exam-format-heading\" class=\"topic-section exam-page-section exam-page-section--formats\" id=\"exam-format\"><div class=\"section-head usaebo-section-inner\"><h2 id=\"exam-format-heading\">Exam formats<\/h2><\/div><div class=\"exam-format-panel\"><article class=\"exam-round exam-round--first\"><div class=\"exam-round-heading\"><h3>Round 1 \u00b7 Multiple choice<\/h3><span class=\"exam-entry\">Open entry \u00b7 Individual<\/span><\/div><div class=\"exam-round-metrics\"><div><span class=\"exam-metric-value\">40<\/span><span class=\"exam-metric-label\">questions<\/span><\/div><div><span class=\"exam-metric-value\">60<\/span><span class=\"exam-metric-label\">minutes<\/span><\/div><\/div><div class=\"exam-practice-focus\"><strong>Practice focus<\/strong><p>Distinguish concepts, read diagrams and practice pacing.<\/p><\/div><\/article><article class=\"exam-round exam-round--second\"><div class=\"exam-round-heading\"><h3>Round 2 \u00b7 Free response<\/h3><span class=\"exam-entry\">For Round 1 qualifiers<\/span><\/div><div class=\"exam-round-metrics\"><div class=\"exam-response-metric\"><span class=\"exam-response-title\">Show reasoning<\/span><span class=\"exam-metric-label\">State models, steps and conclusions<\/span><\/div><div><span class=\"exam-metric-value\">120<\/span><span class=\"exam-metric-label\">minutes<\/span><\/div><\/div><div class=\"exam-practice-focus\"><strong>Practice focus<\/strong><p>Make each step of your derivation clear enough to check.<\/p><\/div><\/article><div class=\"exam-format-note\"><span aria-hidden=\"true\" class=\"exam-note-mark\">i<\/span><p>The official 2027 season page does not list the Round 2 question count. Prepare for the published response format and duration, and check current-season notices.<\/p><\/div><\/div><\/section><section aria-labelledby=\"syllabus-heading\" class=\"topic-section exam-page-section exam-page-section--areas\" id=\"syllabus\"><div class=\"section-head usaebo-section-inner\"><h2 id=\"syllabus-heading\">Syllabus areas and practice examples<\/h2><\/div><span aria-hidden=\"true\" class=\"exam-compat-anchor\" id=\"concepts-in-action\"><\/span><p class=\"exam-syllabus-intro\">Each area pairs the official scope with an original practice example. Examples are not official samples or marking schemes.<\/p><div class=\"exam-syllabus-panel\"><div aria-label=\"Syllabus areas\" class=\"exam-area-tabs\" role=\"tablist\"><button aria-controls=\"exam-panel-micro\" aria-label=\"1 \u00b7 Microeconomics\" aria-selected=\"true\" class=\"exam-area-tab subject-tab\" id=\"exam-tab-micro\" role=\"tab\" tabindex=\"0\" type=\"button\"><span aria-hidden=\"true\" class=\"exam-tab-number\">1<\/span><span class=\"exam-tab-title exam-tab-long\">Microeconomics<\/span><span class=\"exam-tab-title exam-tab-short\">Micro<\/span><\/button><button aria-controls=\"exam-panel-macro\" aria-label=\"2 \u00b7 Macroeconomics\" aria-selected=\"false\" class=\"exam-area-tab subject-tab\" id=\"exam-tab-macro\" role=\"tab\" tabindex=\"-1\" type=\"button\"><span aria-hidden=\"true\" class=\"exam-tab-number\">2<\/span><span class=\"exam-tab-title exam-tab-long\">Macroeconomics<\/span><span class=\"exam-tab-title exam-tab-short\">Macro<\/span><\/button><button aria-controls=\"exam-panel-finance\" aria-label=\"3 \u00b7 Business and finance\" aria-selected=\"false\" class=\"exam-area-tab subject-tab\" id=\"exam-tab-finance\" role=\"tab\" tabindex=\"-1\" type=\"button\"><span aria-hidden=\"true\" class=\"exam-tab-number\">3<\/span><span class=\"exam-tab-title exam-tab-long\">Business and finance<\/span><span class=\"exam-tab-title exam-tab-short\">Finance<\/span><\/button><\/div><div aria-labelledby=\"exam-tab-micro\" class=\"exam-area-panel\" id=\"exam-panel-micro\" role=\"tabpanel\" tabindex=\"0\"><header class=\"exam-area-heading\"><h3>Microeconomics<\/h3><p>Study individual and firm choices, and how markets produce outcomes.<\/p><\/header><div class=\"exam-official-scope\"><span class=\"exam-scope-label\">Official syllabus scope<\/span><ul class=\"exam-topic-list\"><li>Demand, supply, elasticity and market equilibrium<\/li><li>Consumer choice<\/li><li>Firm behavior<\/li><li>Noncompetitive markets, including monopoly<\/li><li>Market failures<\/li><li>Government interventions<\/li><li>Labor market<\/li><li>Game theory<\/li><\/ul><\/div><div class=\"exam-worked-example\"><div class=\"exam-example-copy\"><span class=\"exam-example-label\">Original practice example<\/span><h4>Did the price change, or did preferences change?<\/h4><p class=\"exam-example-question\">The price of coffee falls while other conditions stay constant. Do you move along the demand curve or shift the whole curve?<\/p><div class=\"exam-example-judgment\"><strong>Key judgment<\/strong><p>A fall in the good\u2019s own price means a movement along the existing demand curve.<\/p><\/div><p>If consumers instead develop a stronger preference for coffee, demand shifts right. Identify what changed before changing the diagram.<\/p><\/div><figure class=\"exam-example-figure exam-demand-figure\"><svg aria-labelledby=\"exam-demand-title exam-demand-desc\" role=\"img\" viewbox=\"0 0 280 230\"><title id=\"exam-demand-title\">Movement along demand and a rightward demand shift<\/title><desc id=\"exam-demand-desc\">A price fall moves from A to B along the original demand curve D zero. Stronger preferences shift demand right from D zero to D one.<\/desc><defs><marker id=\"exam-demand-arrow\" markerheight=\"7\" markerwidth=\"7\" orient=\"auto\" refx=\"5.5\" refy=\"3.5\"><path d=\"M0 0 L6 3.5 L0 7\" fill=\"none\" stroke=\"var(--p-accent-ink)\" stroke-width=\"1.5\"><\/path><\/marker><\/defs><g fill=\"none\" stroke-linecap=\"round\" stroke-linejoin=\"round\"><path class=\"exam-chart-axis\" d=\"M37 41V201H259\"><\/path><path class=\"exam-chart-demand\" d=\"M60 53L190 183\"><\/path><path class=\"exam-chart-shifted\" d=\"M112 53L242 183\"><\/path><path class=\"exam-chart-change\" d=\"M102 95L124 117\" marker-end=\"url(#exam-demand-arrow)\"><\/path><path class=\"exam-chart-change\" d=\"M122 91H153\" marker-end=\"url(#exam-demand-arrow)\"><\/path><path class=\"exam-chart-guide\" d=\"M37 78H85M37 131H138\"><\/path><\/g><g class=\"exam-chart-points\"><circle cx=\"85\" cy=\"78\" r=\"4.5\"><\/circle><circle cx=\"138\" cy=\"131\" r=\"4.5\"><\/circle><\/g><g class=\"exam-chart-text\"><text x=\"12\" y=\"24\">Price<\/text><text text-anchor=\"end\" x=\"259\" y=\"225\">Quantity<\/text><text x=\"67\" y=\"72\">A<\/text><text x=\"143\" y=\"126\">B<\/text><text x=\"59\" y=\"44\">D\u2080<\/text><text class=\"exam-chart-gold-text\" x=\"112\" y=\"44\">D\u2081<\/text><\/g><\/svg><figcaption><span><i aria-hidden=\"true\" class=\"exam-line-key\"><\/i>A \u2192 B: along the same curve<\/span><span><i aria-hidden=\"true\" class=\"exam-line-key exam-line-key--gold\"><\/i>D\u2080 \u2192 D\u2081: demand shifts right<\/span><\/figcaption><\/figure><\/div><\/div><div aria-labelledby=\"exam-tab-macro\" class=\"exam-area-panel\" hidden=\"\" id=\"exam-panel-macro\" role=\"tabpanel\" tabindex=\"0\"><header class=\"exam-area-heading\"><h3>Macroeconomics<\/h3><p>Use aggregate data and models to explain economic activity, policy and international connections.<\/p><\/header><div class=\"exam-official-scope\"><span class=\"exam-scope-label\">Official syllabus scope<\/span><ul class=\"exam-topic-list\"><li>Macroeconomic data<\/li><li>Economic growth<\/li><li>Labor market<\/li><li>Aggregate demand and aggregate supply (AD\u2013AS)<\/li><li>IS\u2013LM<\/li><li>Monetary and fiscal policies<\/li><li>Economic fluctuations<\/li><li>International economics<\/li><\/ul><\/div><div class=\"exam-worked-example\"><div class=\"exam-example-copy\"><span class=\"exam-example-label\">Original practice example<\/span><h4>Does higher nominal output mean more was produced?<\/h4><p class=\"exam-example-question\">Nominal output rises from 100 to 110. Is this change alone enough to conclude that real output increased?<\/p><div class=\"exam-example-judgment\"><strong>Key judgment<\/strong><p>No. You must separate price changes from quantity changes.<\/p><\/div><p>In the simplified comparison, either a higher price or a higher quantity produces the same nominal value. A real measure removes the price effect. In policy analysis, also state the model and the short-run or long-run perspective.<\/p><\/div><figure class=\"exam-example-figure exam-macro-figure\"><span class=\"exam-figure-intro\">A simplified one-good example \u00b7 All amounts in USD<\/span><div class=\"exam-macro-baseline\">Start: $1.00 \u00d7 100 = $100<\/div><div class=\"exam-macro-scenario\"><strong class=\"exam-macro-scenario-label\">A \u00b7 Higher price, same quantity<\/strong><div class=\"exam-macro-values\"><div><span class=\"exam-model-value\">$1.10<\/span><span class=\"exam-model-label\">Price<\/span><\/div><span aria-hidden=\"true\" class=\"exam-model-operator\">\u00d7<\/span><div><span class=\"exam-model-value\">100<\/span><span class=\"exam-model-label\">Units<\/span><\/div><span aria-hidden=\"true\" class=\"exam-model-operator\">=<\/span><div class=\"exam-macro-result\"><span class=\"exam-model-value\">$110<\/span><span class=\"exam-model-label\">Nominal output<\/span><\/div><\/div><\/div><div class=\"exam-macro-scenario\"><strong class=\"exam-macro-scenario-label\">B \u00b7 Same price, higher quantity<\/strong><div class=\"exam-macro-values\"><div><span class=\"exam-model-value\">$1.00<\/span><span class=\"exam-model-label\">Price<\/span><\/div><span aria-hidden=\"true\" class=\"exam-model-operator\">\u00d7<\/span><div><span class=\"exam-model-value\">110<\/span><span class=\"exam-model-label\">Units<\/span><\/div><span aria-hidden=\"true\" class=\"exam-model-operator\">=<\/span><div class=\"exam-macro-result\"><span class=\"exam-model-value\">$110<\/span><span class=\"exam-model-label\">Nominal output<\/span><\/div><\/div><\/div><figcaption>The nominal value is 110 in both cases; the quantity change differs.<\/figcaption><\/figure><\/div><\/div><div aria-labelledby=\"exam-tab-finance\" class=\"exam-area-panel\" hidden=\"\" id=\"exam-panel-finance\" role=\"tabpanel\" tabindex=\"0\"><header class=\"exam-area-heading\"><h3>Business and finance<\/h3><p>Understand financial choices through timing, cash flows and risk.<\/p><\/header><div class=\"exam-official-scope\"><span class=\"exam-scope-label\">Official syllabus scope<\/span><ul class=\"exam-topic-list\"><li>Financial planning<\/li><li>Banking system<\/li><li>Time value of money<\/li><li>Saving and borrowing<\/li><li>Investment, financial instruments and risk management<\/li><li>Insurance<\/li><\/ul><\/div><div class=\"exam-worked-example\"><div class=\"exam-example-copy\"><span class=\"exam-example-label\">Original practice example<\/span><h4>Compare money at the same point in time<\/h4><p class=\"exam-example-question\">Assume you receive USD 110 in one year and the annual discount rate is 10%. What is its present value today?<\/p><div class=\"exam-example-judgment\"><strong>Key judgment<\/strong><p>The present value is 110 \u00f7 1.10 = USD 100.<\/p><\/div><p>State the timing and discount rate, then discount the future amount to today. When comparing alternatives, also check cash-flow direction and risk assumptions. These numbers are an academic illustration.<\/p><\/div><figure class=\"exam-example-figure exam-finance-figure\"><div class=\"exam-cash-flow\"><div class=\"exam-cash-date\"><span class=\"exam-model-label\">Today<\/span><span class=\"exam-cash-amount\">100<\/span><span class=\"exam-model-label\">USD<\/span><\/div><div class=\"exam-cash-bridge\"><span>1 year<\/span><i aria-hidden=\"true\"><\/i><span>10% annual rate<\/span><\/div><div class=\"exam-cash-date\"><span class=\"exam-model-label\">In one year<\/span><span class=\"exam-cash-amount\">110<\/span><span class=\"exam-model-label\">USD<\/span><\/div><\/div><div class=\"exam-present-value\"><span>Discount to today<\/span><strong>PV = 110 \u00f7 1.10<\/strong><strong>= USD 100<\/strong><\/div><figcaption>The discount rate and timing are assumptions for this example.<\/figcaption><\/figure><\/div><\/div><\/div><\/section><section aria-labelledby=\"reasoning-checks-heading\" class=\"topic-section exam-page-section exam-page-section--reasoning\" id=\"reasoning-checks\"><div class=\"section-head usaebo-section-inner\"><h2 id=\"reasoning-checks-heading\">Check and review your response<\/h2><\/div><span aria-hidden=\"true\" class=\"exam-compat-anchor\" id=\"from-syllabus-to-practice\"><\/span><p class=\"exam-reasoning-intro\">This practice method works across all three areas. It is study guidance, not an official lesson sequence or marking standard.<\/p><div class=\"exam-reasoning-panel\"><ol class=\"exam-reasoning-flow\"><li><div class=\"exam-flow-heading\"><span aria-hidden=\"true\" class=\"exam-flow-number\">1<\/span><h3>Conditions<\/h3><\/div><p>Identify given quantities, units and constraints. Separate stated conditions from assumptions you add.<\/p><\/li><li><div class=\"exam-flow-heading\"><span aria-hidden=\"true\" class=\"exam-flow-number\">2<\/span><h3>Model<\/h3><\/div><p>Explain why the model fits. Label axes, curves and the direction of change.<\/p><\/li><li><div class=\"exam-flow-heading\"><span aria-hidden=\"true\" class=\"exam-flow-number\">3<\/span><h3>Derivation<\/h3><\/div><p>State the relationship or formula before inserting values. Keep intermediate steps that a reader can check.<\/p><\/li><li><div class=\"exam-flow-heading\"><span aria-hidden=\"true\" class=\"exam-flow-number\">4<\/span><h3>Interpretation<\/h3><\/div><p>Answer the question in a sentence. Check signs, units and economic meaning.<\/p><\/li><\/ol><div class=\"exam-review-action\"><strong>Make review lead to an action<\/strong><p>Locate the gap in the concept, model, calculation or explanation and write one correction. Then change the numbers or context in another question to test your understanding.<\/p><\/div><\/div><\/section><section aria-labelledby=\"exam-requirements-heading\" class=\"topic-section exam-page-section exam-page-section--requirements\" id=\"exam-requirements\"><div class=\"section-head usaebo-section-inner\"><h2 id=\"exam-requirements-heading\">Exam and proctoring requirements<\/h2><\/div><div class=\"exam-requirements-panel\"><div class=\"exam-rule-principle\"><span class=\"exam-requirements-year\">2027<\/span><h3>Online, individual and proctored<\/h3><p>Both rounds are individual online exams with technology-based proctoring. Your location must meet current-season rules.<\/p><\/div><dl class=\"exam-rule-list\"><div><dt>Use current-season instructions<\/dt><dd>Complete the exam independently and follow academic-integrity requirements. Before the exam, check instructions for devices, connectivity, proctoring, permitted materials, check-in and submission.<\/dd><\/div><div><dt>Check the year on historical handbooks<\/dt><dd>The 2026 handbooks provide background and preparation context. Their software, permitted materials, check-in and submission requirements should not be carried over to 2027.<\/dd><\/div><\/dl><\/div><\/section><aside class=\"topic-related\"><h2>Continue exploring<\/h2><div><a href=\"https:\/\/en.usaebo.com\/papers\/\">Papers &amp; samples<span aria-hidden=\"true\">\u2192<\/span><\/a><a href=\"https:\/\/en.usaebo.com\/schedule\/\">Check exam times<span aria-hidden=\"true\">\u2192<\/span><\/a><a href=\"https:\/\/en.usaebo.com\/tutoring\/\">Preparation &amp; tutoring<span aria-hidden=\"true\">\u2192<\/span><\/a><\/div><\/aside><\/main><\/div>","protected":false},"excerpt":{"rendered":"<p>Explore the two exam formats and organize preparation across microeconomics, macroeconomics, and business and finance.<\/p>\n","protected":false},"author":1,"featured_media":0,"parent":0,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":{"_hl_baseline_seo_title":"Exams & syllabus - USAEBO","_hl_baseline_seo_description":"Explore the two exam formats and organize preparation across microeconomics, macroeconomics, and business and finance.","_hl_baseline_seo_keywords":"","_hl_baseline_seo_og_image":"","footnotes":""},"class_list":["post-15","page","type-page","status-publish","hentry"],"_links":{"self":[{"href":"https:\/\/en.usaebo.com\/index.php\/wp-json\/wp\/v2\/pages\/15","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/en.usaebo.com\/index.php\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/en.usaebo.com\/index.php\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/en.usaebo.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/en.usaebo.com\/index.php\/wp-json\/wp\/v2\/comments?post=15"}],"version-history":[{"count":5,"href":"https:\/\/en.usaebo.com\/index.php\/wp-json\/wp\/v2\/pages\/15\/revisions"}],"predecessor-version":[{"id":141,"href":"https:\/\/en.usaebo.com\/index.php\/wp-json\/wp\/v2\/pages\/15\/revisions\/141"}],"wp:attachment":[{"href":"https:\/\/en.usaebo.com\/index.php\/wp-json\/wp\/v2\/media?parent=15"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}