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Best Tips for Students to Study Economics Effectively

Economics is not all that easy of a subject to perform well in as concepts are vast and it requires a good grasp of concepts in both Microeconomics as well as Macroeconomics. Economics tuition in Singapore is becoming particularly famous as many students are seeking help in order to ace their exams.

So, here are some tips for students to perform well in Economics exams!

QUESTION ANALYSIS

Say for example the question is, “Examine the argument that the UK economy will be better off by remaining as a part of the European Union”. Students will commonly make the mistake of going on and on about the implications of Brexit without assessing the questions requirements.

The questions require a few key areas to be discussed such as,

  • The status quo of UK economy
  • The key sequence of events that led to initiation of Brexit
  • The possible effect on UK after its exit from European Union and vice versa
  • The effect on world economy

Students should flag out the key areas that the question requires them to focus on to produce a well-elaborated answer. Should they skip this important step, their essay will be void of a good scope and chances of scoring well are very low.

COHERENT WRITING

One of the biggest pitfalls that students run into is over-descriptive writing that does not have the necessary details built in a cohesive manner. Examiners as well as Economics tuition teachers would expect answers to be succinct and for the essays to convey the right amount of information.

Should an essay be long-winded, examiners would not want to read through the details as it takes a lot of time to sieve through the essay and separate the important pieces of information from the redundant sentences.

Coherent writing is definitely possible with lots of practice in writing with the guidance of a good Economics tutor that can point out the flaws in person and suggest ways to improve with every practice.

LOGICAL FLOW

While writing out the essay it may seem as if everything makes sense for students but when the results arrive, they indicate something opposite to what would have been expected.

The common mistake that students make is that they do not plan before writing their essay. It will be beneficial for students to take some time aside, perhaps 15 minutes to plan out the major key points and minor sub-points that they would like to cover in their writing.

A lack of logical flow would cause the essay to look clumsy and examiners would not be able to a lot the marks accordingly. Though students may have the knowledge of the concepts being tested, they will unnecessarily lose marks due to a lack of cohesiveness in the writing style.

Some questions that students can ask themselves before writing are:

  1. What is the Source trying to explain?
  2. Who is the author/ illustrator of this source?
  3. Why is the tone of this source set in this way?
  4. Who are the stakeholders?
  5. How will the policies I suggest in my essay affect the status quo?

Being a good economics essay writer does not occur overnight as it takes lots of patience and perseverance.

MINDFUL PRACTICE

Students need to recognise the meaning and importance of smart-studying. Beavering away one practice paper after another does enable a student to perform well; it’s all about realising the mistakes and recurrent careless errors that are being made and trying not to repeat them.

It is absolutely essential for students to understand the pattern of the mistakes being made as well as the misconceptions that they have. Should students fail to realize their area of weakness, there is no possible way to make the necessary changes to seek improvement.

Role of tuition teachers in encouraging mindful practice

Economics tuition teachers have the expertise and knowledge to gauge a student’s level of understanding by taking a look at the essays they produce for mock exams and homework. Tutors understand that no two leaves are the same; every student has varying pace in grasping concepts and every student has different sorts of strengths and weaknesses.

Economics tutors find the right resources for students and guide them in a systematic manner, which is why students perform well (even beyond expectation) as all they needed was some customized teaching approach and personal attention.

PERSISTANCE

It is beyond a shadow of a doubt that for any work to be done, handwork and perseverance is necessary. With Economics, it’s not just about remaining diligent and being determined but it’s about not being discouraged by setbacks and failures.

Many students who struggle to grasp the writing techniques, economic concepts and economics jargons end up scoring poorly for midterms and class tests continuously which causes them to lose all motivation. It is of paramount importance to keep in mind that things will change over time and all that is needed is some patience.

Economics tutors are great motivators as they identify the insecurities of their students and voice them out to make them feel comfortable and to teach them to accept the errors they make and the flaws that they have. This makes the entire learning process less scary and so much more light-hearted.

ECONOMIC JARGONS

Jargons are specific terminology that is used to explain a concept exclusive to a particular subject matter. Some examples of Economic jargons are,

  • Oligopoly
  • Perfect competition
  • Balance of Payments (BOP)
  • Deficit and surplus
  • Price ceiling and a Price floor
  • Quantitative Easing (QE)
  • Purchasing Power Parity (PPP)
  • Recessionary gap
  • Liquidity trap

Using these keywords in arguments is essential as the perfect terminology will convey information succinctly in the right way and examiners will realize that the student has written the exam with conviction and proper application of knowledge.

BOTTOM LINE

Students need not struggle alone as there is amazing Economics tuition in Singapore; the opportunities are there and it’s up to students to utilise them. Application of the theories that are being learned to solve case studies in exams is no mean feat and it requires lots of practice to set your brain to a particular frequency.

It may be challenging but it is definitely possible to ace Economics exams with the right amount of hard work and guidance.

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