An overview of Economics
Economics is a very interesting subject that will help you understand the entire financial structure and how it functions. Let’s discuss economics as a subject and how we should deal with it. As we all know economics involves the analysis as well as a description of the market and its elements. It deals with the production and distribution of various goods and services. Economics is a branch of social science as it studies the behavior of organizations and individuals.
This subject is entirely based on mathematics and statistics. I believe this brief description would be sufficient to understand what we will come across in economics. You need to be strong in mathematics and have a clear understanding of statistics.
The first basic requirement to study ec0onomics is knowledge. It involves acquiring knowledge from study something as well as memorizing facts and figures. Facts, figures, flowcharts, explanations are in plenty.
However “theory” based sections primarily require an understanding of certain terms and formulas. The next important factor is grasping the concepts. Economics is fairly simple when studied using references. Real-world references make it much easier to understand.
Reading is the key to those who will skip this step are never going to understand economics. Attend all class lectures in beginning you might feel bored by the subject but once you start relating the text with real-world examples it would become very interesting.
Once the fundamentals are clear enough you must focus on interpreting and estimating cases. Next comes the implementation of our learnings. There is a wide range of application of the tools of economics. The various dynamics of the subject makes it very interesting. If you have a comprehensive understanding of the subject you are good to go.
Next comes analysis. As discussed, earlier economics deals with performance analysis and potential market analysis. Estimating the performance of a product and its potential market is done with economics.
How you should prepare your Economics lessons
Prepare in advance this is a universal rule and implies to almost every subject. Go through your lessons before attending a lecture on the same. It will keep you ready to question the faculty and get your doubts clear.
Try to understand as you read through the text. Develop the habit of reading with full concentration. Pick out the main points of the chapter. Carefully read the summary and objectives of a chapter. Topics are explained verbally, graphically and numerical.
Cumulative Learning helps
Economics is more like mathematics that is acquired over some time only by consistent practicing. Learn whatever has been taught in the previous class. If you think of learning everything later on it would only make it more difficult to understand. Learn slowly but consistently. Lagging will make it difficult to understand new concepts and principles that will be introduced.
Make it a habit to take good class notes
Often before the exam, we end up not having our class notes arranged. And arranging notes from our classmates, books, the internet eats up a lot to our time. So it’s a good practice to take down notes during lectures. Don’t waste your time in jotting down elaborate notes. First, understand clearly what is being explained by faculty.
Then take down only what appears a bit difficult. Next, we must focus on utilizing our class time. It would have significant benefits in improving your grip on the subject. Listen carefully to the question of the lecture to clarify the doubts Be responsive in the class it would give the much-needed boost in your confidence
Preparing notes for upcoming Examinations
Exams are approaching, or might have started for some of you. So now it is time to start preparing your notes. The first mantra to success is not to panic under any circumstances. Evaluate yourself on how you prepare your lessons and keep your notes prepared. The night before exams are when all our notes and suggestion making skills are put to test.
Techniques for preparing notes
- As is the case with most other subjects it is always a good idea to start preparing a couple of weeks before exams. It’s not just about beginning early. Here are a few simple guidelines to help you through your exam.
- Nowadays all of us take tutions for a better understanding of our subjects. Clear your doubts well in advance. Ask for a suggestion and sample question papers
- Work out a summary of your lessons. Reviewing your notes and assignments will help.
- Get back to those critical chapters that you avoided. Create an overview understand the main ideas.
- Avoid skipping big chapters take notes of the important points, it would make it easier to understand.
- Most important of all practice. There is no shortcut to this one simple trick. Practice previous year papers to get an understanding of the exam you will be appearing.
Manage your resources cleverly
- Let’s be real no one can continue to study for 8 hours. There are several reasons behind it. Most importantly our concentration levels fall. Study for small durations. If needed take brakes in between it helps to maintain a good level of concentration.
- When exams are approaching students are found to skip their meals and sleep to study. Relax! It’s an exam where you need to perform well. Get enough sleep, proper food and relaxation. Only then you can prepare well and give your best performance without falling sick.
- Keep your study space clutter-free. It might not seem logical but prevent concentration break. Try to keep your devices and internet connections shut during studying.
- Always get back to what you have studied the previous day. A recapitulation of the previous lessons speeds up the learning process.
- Keep a notebook handy while studying. Taking down important points makes it easy to summarize chapters. Often you will find writing helps to retain information.
- It’s a practice that we are taught right from our early childhood. Listening to our notes while reading ou loud makes retaining easy.
- Don’t panic over the pending tasks. Never keep chapters or notes pending. Carry it over to the following day and complete it.
- Never take the short-cut of mugging up your notes. Always take a progressive approach. Understand whatever you read, ask questions to yourself. An in-depth understanding of your lessons will take you through any question that you face.
Things to “avoid” on the night before the exam
Every one of us considers this to be the ideal time for preparing our lessons. The time we become just a little bit more sincere with our studies. But that’s not the right way to do things. It’s the time when we need to sleep. Yes, you read it right because we need enough rest to be able to perform well the next morning. Stay away from learning new lessons or formulas. Revise whatever you have prepared and been confident about it. The next big thing is keeping your spirits high. Imagine yourself making it through with flying colors.
The “Exam” Day
- Don’t panic or become tense. Eat before heading into the hall. Going without food can make you tired and affect your concentration.
- Be punctual, arrive with ample time in your hand to complete those usual tasks. Often nervousness sets in even before the exams just because we don’t reach the center on time.
Follow these during the examination
- Be calm and read the question paper thoroughly. Avoid reading multiple choice questions to keep them for later. Mark those questions which you are confident about. Note down anything that strikes your mind while reading the question paper.
- Don’t be stuck with questions that you can not figure out. Move on as it would save you valuable time. Return to your trouble only when you have time left after finishing your paper.
- As we all know cheat papers are strictly not allowed. But I would suggest you make one containing important facts and formulas. Throw it away before entering the hall. Rewrite the information form your memory as soon as you get the answer script.
- Keep an eye on the clock. I never spent too much time on a single question move on and answer the rest.
- Things to do if your exams are on the following day studying intensively just before the exams is not something anyone would recommend. But sometimes that’s the only option we are left with. Here are a few tips, tricks that would help you to make it through.
- Pull out the most important topics in your subject. The selection of topics must be done after consulting old question papers.
- Always be free to ask your friends for notes. Repeatedly go through the class notes and lectures. Start learning right away as there is not much time to study in detail.
- Try to pick topics that could be memorized. Look for “theory” based sections that do not require much understanding.
- Manage your time efficiently. Revise your lessons frequently as you are now completely dependent on your cramming skills. Don’t get fed up with yourself relax and motivate yourself. Keep away from straining yourself too much as it would drain you early. Be consistent in your efforts.
- Don’t be upset with yourself. As it will not be of much use. Be realistic and study hard instead it would help you to perform better the following day.
Follow these tricks you will find a considerable increase in your scores
Since we have already discussed the subject and preparing notes for exams now let’s find out how we can score more marks by improving our presentation. To begin with, economics is all about mathematics and statistics so use pie-charts and graphs. Always plan a course of action before writing down the answer. It saves you time and helps you maintain a clean presentation.
Make good use of the time provided to study the paper. When the question paper is divided into sections, try to follow a pattern. Complete the section you have started answering and then move on to the next. Switching sections in between make it difficult to study the paper during evaluation. If possible write answers in small points don’t forget to highlight keywords and important points. Make graphs and diagrams wherever required.
Exams give us a chance to see what we have learned at the end of a course/session. Or maybe failed to learn yet. If you can get through your test with good numbers appreciate your hard work. If not then don’t get turned down. Put some extra efforts, and make effective use of the trip and tricks discussed in this article. If you face difficulties approach your teachers and ask for help. Never shy away from asking teachers repeatedly. Keeping away from clearing your doubts will only increase your difficulties with the subject.
The common practice among students nowadays is either to blame the teacher or the institution. Many get upset and blame themselves for their failure. Always stay positive try to understand what went wrong. Work out strategies that would help you improve. Take suggestions from your faculties. Be open with your parents talk to them. Try to use modern learning aids to improve your skillset. Take a close look at your schedule. Make efficient use of your time. Find a balance between studying and other curricular activities.
I hope this article will help you to get through your exams successfully. Always be positive and stay happy. Never let depression take over you. Nowadays competition has increased a lot so giving to your peak performance is crucial. Always keep your spirits high. Not everyone is blessed equally so the only way to cover up is by working hard.
Never compromise with your efforts for every subject try to follow a schedule of practice. Try to maintain your routine as sincerely as possible. Remember our failures are the building blocks of our success. We will get to know our limits only when failure comes. Picture yourself succeeding and be honest in your efforts. Keep yourself updated and gain a comprehensive idea of the subjects. Once the basics are learned properly, you will eventually start growing your interest. Economics is fun and enjoyable but only when you perceive the subject comprehensively.
MajaKazazic is the author here who has expressed his views on how to prepare for economic exam. Graduating from Stanford university the author holds deep knowledge in the above aspect. For any queries you can share it in the reply.