Tips for

Success!
 Tips for Success!

How to study Economics?

 How to study Economics?

 Things you MUST have, with no exceptions:

 textbook
 Whatever the reason your lecturer gives to “excuse” you from buying a
proper textbook, including his/her quality notes, you have NO
REASON not to get yourself a quality Economics textbook.
 Why do you need one? Because no notes can be more comprehensive
than a 748-page textbook! If you want to score, don’t penny-pinch over
this!
 My recommendation? Get Sloman’s book on Economics, any edition.
 very concise and well-structured

 modeling after his style of writing will help you tremendously in

writing ‘proper’ economic answers, justifications, and expositions.
 JUST BUY IT!
 a dedicated A4-sized notebook just for Economics
 Just as you preserve photos, do this to satisfy your love for Economics!
 How to study Economics?

 Things you MUST do, with no exceptions:

 read textbook, even ditch your lecture notes if you must
 This is a MUST. Don’t give excuses like not enough time. You have 24
hours, and so do I.
 Discipline! I know it’s boring to read textbooks. Rest assured, even the
most diligent of students feel drowsy within 30 minutes of reading
textbooks. Discipline is what differentiates them from the rest.
 write notes yourself
 Don’t copy from textbook blindly; we need no photocopier. Write with
your brain actively involved in the writing process!
 Read and understand, then rephrase them for your notes.
 keeps your mind actively meditating on the important points

 own writing style aids retention & recall of knowledge

 practice for economic reasoning and essays

 Write broad headlines, with expositions and examples.

 How to study Economics?

 Some approaches to studying Economics:

 language used
 Economics has its own technical jargon. It is full of common words that
have different meanings from everyday use.
 Failure to use proper economic language will have dire results!
 definitions and explanations
 These are worth paying attention to as they are the core of the subject
and are used to demonstrate economic reasoning in your answers.
 diagrams and tables
 These are tools of the trade that help illustrate the concepts being
explained (see above). An ability to draw and interpret these items is a
core skill absolutely required.
 marginalist principle
 Analytical skill very important to the study of economics.
 How to study Economics?

 How to score in Economics?

 proper framework
 Many students lack the proper framework to structure their answers,
resulting in illogical and messy answers.
 Don’t memorize! There is no one framework that works for all answers.
You need to create them to suit the type of questions being asked.
 When one question ask you to discuss whether there is a need to
change the current policy adopted by Singapore government for
Healthcare, you need to:
 Evaluate the healthcare market – nature and characteristics which
gives rise to certain unique problems.
 Evaluate all possible solutions to deal with those problems, with
justifications and examples.
 Evaluate Singapore’s policy against those solutions discussed.

 Recommend any changes, if any. Maybe a small summary to tie

any loose ends.
 How to study Economics?

 How to score in Economics?

 accuracy of language
 Absolute statement: Gold prices are high.
 Relative statement: Gold prices are high relative to ...
 Always provide a reference to benchmark against; what do you mean
by high? Compared to WHAT?
 Economists are nitpickers; be exact with what you say.
 Good Luck & Enjoy Learning!

You will soon find Economics to be the

most useful cheat in the game of life!