Method I've found which has worked on both my laptop and desktop that I use for development is when you create or edit the Android Emulator (AVD) there is an option near the bottom that says use Host GPU.
I've have found this to work on all Android versions
UPDATE I missed the bit about the RAM problem. You haven't said if there is an error regarding the memory issue, but if you seeing failed to allocate memory: 8 then you need to modify the AVD config.
Go to C:\Users\your_name.android\avd\avd_name\config.ini and find hw.ramSize and make sure that MB is on the end of the number.