Economics is all about decision-making, analytical and critical thinking. It helps you to decide how much to save, how to spend and invest money. An economics course is crucial for those interested in a career in finance:
Here are a few tips to succeed in an economics class
Do not Memorize
Economics is not about memorizing all the things you have read in books. If you learn by rote, facts that you have learned will be forgotten in a couple of months. So, don’t waste your time by rote learning.
The course mainly teaches economic principles related to consumer demand, and determination of prices of goods, and factors of production in different markets. You can’t apply these principles in real-world by memorizing, but only through understanding.
Learn for an hour and surf for 2 hours on the internet on research. Watch videos on YouTube for better understanding.
Do course assessments regularly
Economic theories cannot be studied a day prior to the test – you need time to understand its practical implications. If you take the class without completing pending homework assignments, you will be lost. Do all your assessments regularly. They are not meant to irritate you but helps you to understand new economics skills, and to prepare you for the semester.
Read the assigned readings again and again till you grasp the point. If you take the class without a clear understanding of the previous topic, you are likely to get lost. Spent time in reading discussion posts or course materials.
Demand an answer to a question in live chat if you don’t understand something. Don’t hesitate to ask a question. If you have doubt, it is very likely that some of your peers have the same, but don’t dare to ask. If nobody asks questions, your instructor assumes that everyone understands the material, and will go on to the next topic.
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