Economics Study Tips
Economics is the branch of knowledge concerned with utilizing society's wealth in the best possible way. It is necessarily a numerate and conceptual discipline, providing a critical understanding of the workings of world markets and economies and an appraisal of the role of government in an economy. Therefore, you will be comfortable working with numbers as well as have a sound grip on the economic concepts in the news. Applying common sense and general knowledge to your economics studies will greatly increase your chances of a successful outcome.
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Take Notes During Class
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Try to read a little ahead before each economics class or around the entire course outline, if possible. Get your head around the concepts you need to master for your course or class early. Try to define your learning aims before you get to your economics lecture.
There may be people who excel academically without taking notes, but to succeed in economics, taking notes in class should be the logical, sensible first step. Approach your studies methodically and systematically and listen for key points in a lecture. Review and integrate (build on) material from each lecture. Review your notes regularly in a quiet environment. Unlike some other subjects, it is hard to cram for an economics exam. You need to truly understand the early steps to comprehend later subject matter.
For some reason, economics, according to Cornell University, "is very difficult to cram." So keep on top of your work and assessment deadlines and stay awake in lectures! It is much harder to understand what the professor said, otherwise. Things like how certain topics should be approached, which ideas should be highlighted, or how things hang together, as teaching methods will vary from one instructor to the next.
This also makes it easier to pick up specific vocabulary for the course from your professor and makes your life easier, too.
Read the Texts
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Apart from reviewing your notes shortly after class, try to read the prescribed or recommended texts for your course to fill in knowledge otherwise not available from lectures that you will nevertheless be expected to know. This strategy has a way of bringing your studies to life, further clarifying material you may not have properly understood. Economics is a constantly changing field so you will need to keep abreast of constant economic developments as well as make sense of charts, graphs, theories and the latest economic models. Read actively, browse publications and use your homework and required reading as a study guide. Read general business publications, such as the Wall Street Journal or The Economist, to gain real-world examples of the theory you are learning.
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Prepare for Your Exams
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Preparing for your economics exams will be the preamble to the acid test of your economics exams and hopefully worthwhile. By now you should have revisited your entire course and worked through numerical problems as these may feature in your economics paper. Read your textbooks via active recall rather than by passive reading. Test yourself about what you have just read and go over all your homework through the course. Form a study group, too, if you wish.
By all means, also approach your instructor or adviser if you need any help. If you have difficulties with the earlier material, be sure to seek help so that you can avoid a shaky foundation to your course and so that these problems can be nipped in the bud.
Taking Your Exam
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With your confidence in your exam preparation and general economics ability now sky high, you should be well placed to tackle your economics exam.
Know the exam structure and what you will be expected to know. Some exams may not allow you cheat sheets. Bear this in mind.
Glance over the whole exam at speed but without a loss of understanding. Know what is being asked. Answer questions fully so that you get full, and not partial, credit for your answers. Use your time well and figure out how much time to spend on a question. If all the questions are worth the same, give them equal attention. If not, devote more time to questions that carry more points or that will be easier for you to answer.
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References
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