Is Economics Really That Easy?

This is an article which was published on EdValue.com which we thought would be helpful to all students needing help in A-Level Economics. Some of you may be seeking Economics tuition in Singapore, so do have a good read first before choosing the right tuition centre 🙂

Economics is Easy!
Many students have the misconception that Economics is a difficult subject to master. It is therefore not uncommon that Economics is usually the subject that A-Levels students score the lowest for.
A common thing among students is the tendency to memorize Economics concepts rather than understand them. Which is why they always find themselves having to constantly re-memorize the same things every time there is a test or exam. A major frustration for them is that they would write pages and pages of answers, only to get a dismal score for their papers.
Organizing Information
The first step to score that A in Economics is to organize your content. It is utmost important to know Economics definitions and concepts at your fingertips. This would boost speed in solving the questions under stressful examination conditions! A suggestion would be to compile your own list of definitions and concepts according to chapters. Not all information in your Economics notes is examinable at A-Levels. Therefore, a useful tip would be to read through the economic syllabus from Cambridge found on the SEAB website and note down the important content that will be tested.
Identify
The key to doing well in Economics is to be able to identify key question words! These words give directions and it provides the outline for the entire essay structure. The information that you write on your papers must be first made clear to yourself. Many students admit that they do not know what is really required in their answers, leading to them merely regurgitating from the notes instead of answering to the question.
Understanding the key words is the keystone to success! A typical question would be: “ Examine the impact of rising oil prices on the economy ”. To tackle the question, consider which aspects of the economy will be affected and sum it up with an overview. The word “ impact ” implies the resulting positive or negative effects of the situation stated. Think along the lines of Economic Growth, Employment, Inflation and Balance of Payment. This would provide a more cohesive answer rather than bits and pieces of scrambled information.
Elaborate
When illustrating a point, your paragraph should always include a topic sentence that gives the overview of the paragraph. After which, the paragraph should include elaboration of the stated theory supported by applicable examples. Do not stop here. For brownie points, remember to provide evaluation for the pointers stated in the paragraph. An example of an evaluation point is: “ The fall in personal income taxes may not necessarily cause consumption to rise if the consumers expect future incomes to fall due to current recession. Therefore government should increase government spending as it increases aggregate demand directly ”. Remember to sum up the whole paragraph by addressing your stand in regards to the question.
A is easy for Economics
At the end of the day, your answer is really just a way of communicating with the examiner about your understanding of the subject matter. Clear, precise paragraphs make your answers easier for the examiner to understand. Do not fall into the trap of writing long-winded answers, thinking that length matters.  As clichés as it may sound, neat and legible handwriting does matter. Follow through the above steps of organizing information, identifying keywords, and elaborating on your answers. It will lead you to be that one step closer to achieving A in Economics!
-Ruth Li, Advo Trainer (Economics), Advocators Education

Editor’s note: With more than 8 years of experience in coaching Economics, Ruth is well-versed in the syllabus of H1/H2 Economics for A Levels, as well as the IB Programme. Utilizing her wealth of experience in the marketplace with her unique ability to break down complex Economic Concepts into simple ideas that students can understand, she is highly sought after by students from different Junior Colleges, many of whom are from Raffles Junior College, Hwa Chong Junior College and Victoria Junior College. Catch Ruth on 6 or 13 April, Friday evening as she shares with parents and students interesting insights on exceling in the A-Levels in a 2-hr complimentary seminar. Ruth will also be sharing strategies and techniques as well as approaches to A-Level questions in this not-to-be-missed seminar. Parents and students can register their seats now @ http://www.edvalue.com/Events/Transformational-O-and-A-level-Seminar-English-Chinese-Maths-Science-Econs

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