You can speed up emulator by using hardware acceleration feature.
In order to make the Android emulator run faster and be more
responsive, you can configure it to take advantage of hardware
acceleration, using a combination of configuration options, specific
Android system images and hardware drivers.
To use Virtual Machine Acceleration you need,
- x86 AVD
- processor which supports virtualization extensions
- Android SDK Tools, Revision 17 or higher
and to configure graphics acceleration, you need
- graphics processing unit (GPU)
- Android SDK Tools, Revision 17 or higher
- Android SDK Platform API 15, Revision 3 or higher
See the android documentation - Using Hardware Acceleration - for instructions on how to configure your system.