Economics entails the analysis and description of elements of consumption, distribution, and the production of goods and services. As a social science, it aims at explaining the behaviors of individuals, organizations, and groups. Math and statistics are the core subjects of economics. Most first and second-year students of this course find it challenging, especially those who missed it in high school. There are four critical levels to the road to success when it comes to the economy, and these are:
- Comprehension
- Analysis
- Knowledge
- Application
Knowledge
It is the first level of performance in the study of the economy. It consists of studying and grasping material like facts, explanations, and definitions. The basis of learning is knowledge, and that element is required to elevate to other academic levels.
Comprehension
It focuses on understanding and remembering the meaning behind a material. The primary methods of comprehending include converting the formation of material to another, explanation, and the estimation of trends. In the scope of economics, the lowest level of understanding gets represented by comprehension.
Application
As the third level of performance in the academic world, it gets expected of students to apply the materials they have read in the real world.
Analysis
It refers to the ability to crunch down material to specific individual components. It aims to get a better understanding of the structural organization. Economics identifies parts, understands the relationships that lie between the parts, and check the principles of an organization and the laws that get involved.
Strategies for Surviving Economics
As a social science, economics can prove to be a bit difficult for newbies. It encompasses complex subjects like math and chemistry. You need to invest time, dedication, and habits. Here are some of the strategies and techniques:
- Finish up on assignments before getting to class
It is paramount to arrive in class after completing your assignments. You will be able to ask the most appropriate queries and follow through with the lecture. Your instructor will not go through everything on the paper and will probably only touch on the most complex concepts.
- Study for understanding
You can achieve this by chunking 10-15 minutes of your time to read a summary for the chapter assigned. Try to grasp the main points of the said chapter and then head over to read the introduction. It will highlight the topics covered in the text and will give you a list of objectives it aims to achieve in the body.
- Attend all the lectures
As already discussed before, economics is a challenging course, which means you should not even think of missing classes. The professor will directly communicate the most help you will need through that class during the lecture sessions. Even if you borrow notes and copy them, understanding concepts will prove difficult for you. Make it a point to attend all classes and ask questions on areas you do not understand.
- Understand the material as you elevate
Like math, economics is a subject that gets cumulatively acquired. Learn to understand. To understand what is to get taught this week, you get expected to have mastered all the concepts of the previous week. You will get it rough if you fall behind in your studies.