Start studying at least two weeks in advance. Most students are surprised to find that this rule applies even to exams taken at home. You can’t learn things from your couch. In fact, it’s nearly impossible. So, get your thinking caps on and study. Plan a course of study that includes a study schedule, goals and a goal date.
A couple weeks before the test, review your class notes, homework assignments, outlines and notes on economic theory. Review the basic economics concepts. Think about how much you know. Do your homework and try to understand as much as possible. When you know as much as possible, you’ll feel much more confident and be able to answer the economic questions with confidence. It will all come together later.
Spend at least one day each week studying for economics. Don’t spend all of your time in class reviewing the material. Spend time doing homework, practicing your economic techniques and concepts, etc. Spend some time doing your online economic research. A one-on-one tutor will be even more valuable for advanced students.
Don’t work through the textbook, unless you really enjoy reading the stuff. Read one chapter out of each book you have bought or taken in class. Then read the chapter again, focusing on a specific economic concept. Record your answers to the economic problem and your solutions. Go over these thoroughly and rewrite them if you need to.
In addition, I encourage you to invest the time studying for economic theory by yourself. You can spend an hour every night or every other day going over your notes and rewriting. Use textbooks as reference material and go back and forth between the pages. This practice is going to pay off when you’re taking the real test!
Don’t make the critical mistake of studying late in class. Try to study as early in the morning or early afternoon, preferably one or two days before you expect to take the exam. Studying too late is like eating before you want to eat, isn’t it?
If you follow the advice in this article, you should have no problem passing your economics exams. Remember, don’t make studying for this subject complicated. Stick to the strategies and you will do well.
Start the economic class by reviewing the topic of “The Conceptual Complexity of Economics.” (The first section of the AP Calculus exam.) Spend a few minutes analyzing the ideas taught here. Think about how much different things have changed since the first edition of the textbook. Don’t be afraid to write the economic answers to the multiple choice questions. Remember, in economics exams, the key to success is preparation!
The second section of the economic theory test involves economic concepts in real world situations. Spend some time thinking about how different things in your own life affect the economy. The more you can think about the world in general, the better prepared you will be to answer the economics question. Keep in mind that you won’t necessarily get all of the economic concepts that are taught in this chapter, but you should at least be able to get a feel for how your economic ideas fit into the real world.
The final section of the exam deals with economic problems in the domestic setting. This section may cover some of the typical domestic problems faced by an individual or household, such as income and wealth gaps between generations. You will probably be asked to consider the role of unions, child rearing, divorce, and other economic conditions. This part of the exam requires a lot of critical thinking.
When it comes to the final portion of the economics exam, the real-world examples make everything easier. You’ll find yourself in situations where the choices you make will have direct consequences on the economy. Think carefully about what actions you would take if you were the manager of a business, a consumer, or a government official. It is easy to become confused in these situations, which is why many students give up before they even attempt the exam. Make sure that you’re ready for this question by preparing ahead of time and taking plenty of notes.
The economics exam will test your ability to analyze a wide variety of economic problems, both recent and historical. If you are planning to take this exam, prepare ahead of time to familiarize yourself with different topics. Be sure to cover the major topics, such as inflation, unemployment, investment, business cycles, international relations, government, and economics itself. Studying well ahead of time will help you study efficiently and get through the entire test in one go.