Economics is a pretty popular subject right now, but it can be really difficult to study. Both microeconomics and macroeconomics get complicated – fast – when you consider all the formulas, definitions, and graphs you have to memorise. But don’t worry – this post will help you study optimally for your next econ exam so you can get that A you’re aiming for!
Memorise the definitions
Almost every econ exam will ask you to define something, so be ready! Also, economics is a very keyword-heavy subject. If you don’t know what revenue is but the question is asking you about it, you won’t be able to answer it. Find (or make) a set of flashcards on quizlet, then export them to anki. This is the easiest way to memorise anything at all!
Understand the reasoning
Understanding the reason why things happen will help you remember graphs and definitions much faster. This will also help you with your chains of reasoning in essays! Ask your teacher lots of questions, or find a video to explain it to you.
Use mnemonics
There’s a lot of memorisation involved in economics, so it’ll be useful to make mnemonics so that remembering everything is a lot easier! For example, you can use the acronym USED to remember the functions of money (Unit of account, Store of value, medium of Exchange, method of Deferred payment). Tutor2u has lots of mnemonics that can help both GCSE and A-level students.
Focus on easy marks
Almost every econ exam has some multiple-choice questions, so make sure you do lots of past papers to practice them. During the exam, make sure you don’t make silly mistakes in your calculations or your graphs! Secure the easy marks first so that you can do your best on the harder questions.
Perfect your exam technique
Longer, essay – based questions depend on your exam technique being good enough to showcase your knowledge. Always include a graph to illustrate your point, and make sure you’re using keywords and writing simply. Examiners don’t want to spend ages marking your work, so ensure you’ve made it as easy as possible for them to notice how good your writing is.
