GACE® Economics (6–12) (719)
Practice Test
You'll prepare for three testlets — 237 Microeconomics (30 questions, 45 min, $63.00), 238 Macroeconomics (40 questions, 60 min, $63.00), and 501 Financial Literacy (30 questions, 45 min, $43.00). Combined: 100 questions, 2 hours 30 minutes, $169.00. You need a cumulative score of 220 or higher, and you must also meet the floor score for each individual testlet. No calculator or reference sheet is provided. Administered by Evaluation Systems of Pearson for GaPSC.
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Get Free Access →See Premium PlansGACE Economics (6–12) (719): Test at a Glance
Here’s a quick overview of the exam. Testlet 238 (Macroeconomics) is the largest at 40 questions. Testlets 237 and 501 each have 30 questions.
About the GACE Economics (6–12) (719)
Here’s what you need to know before you register.
The GACE Economics (6–12) exam is for individuals seeking admission to an educator preparation program, initial certification in Georgia, or qualification to teach economics in Georgia secondary schools. It is administered through Evaluation Systems of Pearson on behalf of the Georgia Professional Standards Commission (GaPSC).
The exam is made up of three testlets, which you can take together in one session or separately. Testlet 238 (Macroeconomics) is the largest with 40 questions and a 60-minute time limit. Testlets 237 (Microeconomics) and 501 (Financial Literacy) each have 30 questions and a 45-minute time limit. Combined, all three testlets total 100 questions in 2 hours and 30 minutes.
Unlike Testlets 237 and 238, which each cost $63.00 individually, Testlet 501 (Financial Literacy) costs $43.00 — it’s a shared testlet that also appears on other GACE assessments, including GACE Mathematics (711). All three testlets together cost $169.00. Plan for extra time beyond the testing minutes themselves: add 15 minutes per testing session for a tutorial and to complete a nondisclosure agreement.
The exam is delivered entirely by computer in a selected-response (multiple-choice) format. No reference materials are provided — you won’t have access to an on-screen calculator, formula sheet, or any other aid during any of the three testlets. Any graph interpretation, percentage calculation, or basic arithmetic you need is yours to do without assistance.
To pass, you need a cumulative score of 220 or higher, and you must also meet the floor — the minimum required score — for each individual testlet. Scoring well above 220 on two testlets doesn’t make up for falling below the floor on the third. To register, create a GaPSC MyPSC account at mypsc.gapsc.org, then create an Evaluation Systems GACE testing account at gace.es.pearson.com.
Three Testlets at a Glance
Testlet 238 is the largest at 40 questions. Testlets 237 and 501 each have 30 questions. Fees vary: $63.00 for Testlets 237 and 238, $43.00 for Testlet 501.
GACE Economics (6–12) (719) Exam Outline
Below you’ll find the content areas covered in each testlet, along with the confirmed question count and time limit for each.
- The laws of supply and demand and how markets reach equilibrium
- Price elasticity of supply and demand
- Market structures, including perfect competition, monopoly, oligopoly, and monopolistic competition
- Consumer theory, including utility maximization and marginal analysis
- Producer theory, including costs of production and profit maximization
- Market failures, including externalities and public goods
- The role of government intervention in markets, including price controls and taxation
- GDP, national income accounting, and measures of economic output
- Unemployment, inflation, and the relationship between them
- Business cycles and their phases
- Fiscal policy, including government spending and taxation
- Monetary policy and the role of central banking
- Aggregate supply and aggregate demand
- Economic growth and its determinants
- International trade, exchange rates, and the balance of payments
- Financial responsibility, decision-making, and personal budgeting
- Tools used to inform consumers and manage risk, including insurance
- Principles of investing, including risk-return trade-off and diversification
- Managing credit and debt, including credit scores and debt repayment strategies
High-Priority Topics by Testlet
Use this section to focus your study time. These topics are drawn from the official GACE 719 content objectives.
Registration, Test Day & Scoring
Here’s what to expect when you register, show up on test day, and receive your scores.
Registration & Fees
Scoring
Test Day
Reference Materials
Who Needs the GACE Economics (6–12) (719)?
Find out if this is the right exam for your teaching goals.
Testlet 501 credit across exams: Testlet 501 (Financial Literacy) is a shared testlet that also appears on other GACE assessments, including GACE Mathematics (711). If you have already passed Testlet 501 through another GACE assessment, you may have credit toward the 719. Verify this in your Evaluation Systems GACE testing account at gace.es.pearson.com/test/719 before registering.
How to register: Start by creating a GaPSC MyPSC account at mypsc.gapsc.org to get your Georgia certification number. After your eligibility is confirmed, create an Evaluation Systems GACE testing account at gace.es.pearson.com/test/719 and register for your testlets. Always verify current certification requirements at gapsc.com.
How to Prepare for the GACE Economics (6–12) (719)
Here are some tips to help you get ready for each testlet.
- Because no calculator or reference sheet is provided, practice doing basic calculations by hand. Elasticity ratios, percentage changes, and GDP components all involve arithmetic you’ll need to work through without assistance — build that fluency before test day rather than discovering the gap during the exam.
- Testlet 238 (Macroeconomics) is your largest testlet at 40 questions — prioritize your study time accordingly. At 40% of the total questions on the exam, a strong showing on fiscal policy, monetary policy, and GDP measurement carries more weight toward your cumulative score than either of the other two testlets.
- For Testlet 237 (Microeconomics), practice distinguishing a shift in a supply or demand curve from a movement along it. This distinction shows up repeatedly and is one of the most common sources of confusion — a change in price causes movement along the curve; a change in any other factor shifts the curve itself.
- Because you must meet the floor on every testlet, don’t treat Testlet 501 (Financial Literacy) as an afterthought. If you haven’t already earned credit for this testlet through another GACE assessment, dedicate real study time to it — economics knowledge alone doesn’t guarantee strong performance on personal finance content like credit scores and insurance terminology.
- Practice reading and interpreting economic graphs quickly. Supply and demand curves, production possibility frontiers, and aggregate supply/demand diagrams appear throughout both Testlet 237 and Testlet 238 — without a formula sheet, your ability to read a graph correctly under time pressure matters as much as knowing the underlying theory.
- Use the Georgia Standards of Excellence for Social Studies as your primary content reference. The Georgia GSE for Economics tells you what depth of content is expected at the secondary level, and it’s the standard the GACE Economics exam is built around.
Frequently Asked Questions
Have questions about the GACE Economics exam? Here are answers to the most common ones.
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Practice questions covering all three testlets — Microeconomics (237), Macroeconomics (238), and Financial Literacy (501) — aligned to the official GACE 719 blueprint. Detailed answer explanations so you understand not just the right answer, but why it’s right.
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