Tips in Effectively Studying Economics

In school, we have a lot of different subjects to learn and one of them is economics. If we are aware, taking the subject economics will require us to solve equations and problems, memorize terms, understand a lot of concepts, and a lot more. It would really be complicated, that is why in this article, we are going to help you with that. We are going to give you tips in order to make studying economics easier.

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Hannah Rasmussen will share with us the best way to study for an economics examination.

The Best Way to Study For Economics Exams

Exams are coming, or they might already be here for some of you! Either way, it’s time to study. First things first, don’t panic. Economics guest writer Hannah Rasmussen has outlined some helpful study tips for your exam, whether it’s three weeks away or tomorrow.

First, we look at the how to study for an economics exam that is a few weeks out. Then we consider how to cram the night before a test. Good luck!

The Best Way to Study for Economics Exams One to Three Weeks in Advance

Congratulations on starting to study early! Here’s what to do:

  1. Ask your instructor for an exam outline and what to expect on the exam.
  2. Create an overview. Review your notes and any assignments you had.
  3. Review the course’s main ideas.
  4. For each big idea, review its sub-topics and supporting details
  5. Use old exams to get a feel for the style of questions you might be asked. Read more here.

There are tips given if you’re studying for your exam one to three weeks in advance and there are tips if your exam will already be tomorrow. There are hints and additional tips for the night before the exam, the day of the exam, and during the exam. In addition, Tejvan Pettinger will give us tips for memorising economics and other items.

Tips for memorising economics and other items

It is getting close to the summer exams, and one reader asked if I had any tips for memorising information.

Some things that worked for me

Read then close book. I used to read a book, then close and try to remember was is in the closed book. If I couldn’t remember, I’d check and then try again. This was hard work, but is the most effective way for getting that learning and recall.

Understand and learn. Economics isn’t like learning a lot of Latin vocabulary. By comparison with other subjects there isn’t a huge amount of definitions to learn, but what you do need is an understanding of what you memorise. For example, when it comes to teaching Social marginal cost curves, I always feel it is not a question of memorising, but understanding what is going on. I always make students start with a supply and demand curve, Label D = PMB, S = PMC and take it from there. Read more here.

Memorising could really be difficult for many of us and the tips given above could really help. One thing you could do for enumeration is take the first letter of each word and create another word from it to help you remind each word. Next up, the University of Bristol will tell us about revisions for an economics exam.

Revision for an Economics Exam

A General Revision Guide

  • Make a revision timetable but ensure two things a) it’s not too strict and b) you have time off. By having a little bit of flexibility you allow for any illness or an unexpected, unavoidable trip out. The law of diminishing returns can be applied to revision: beyond a point, each additional unit of input yields less output. For example, eight hours of straight revision, with no breaks is not going to be as beneficial as four two-hour periods, so allow for breaks.
  • Timing: if you aim to achieve, say, five hours of revision in one day, start early. If you begin at 9.00am you will be finished by 3.00pm (allowing for one hour’s worth of breaks) giving you the rest of the day free. If you only started at 3.00pm, the idea of going on until 9.00pm will be daunting. Read more here.

One important guide given is that we should study and work in a nice and relaxing place. We all have different learning styles but most of us really would be able to study better in a quiet place without any distractions. Consider applying the tips we have given you above for studying and memorizing and you will surely have a successful and effective studying that could help you a lot especially during exams.