What should I study for economics?

Mysteriouschic

I'm picking up economics this year, most the people in my class are only picking it up for the first time too as we're repeating the leaving cert.

We've only done the law of demand and the supply and the elasticity curve chapter at the moment . Should I try and learn these inside out then move on and try and learn some of the other by myself. I need a B1 in economics higher level. We had a mid term test I got a D2. It was only a few questions.

What chapters are best to start focusing on studying after the demand, supply and elasticity?
I don't have a text book as my teacher said we should just get the best revision book? I have rapid revision. Should I still get a textbook? if so which one?

Anyone know any good websites with economics notes?

skyscraperblue

Demand and supply is really important as so much of the rest of the course will involve referring back to it. After you do demand and supply and elasticity, finishing the micro section would be easiest - that means doing factors of production and market structures. There's a fair bit of overlap and demand & supply comes into everything! Also I think reading through some of the macroeconomics stuff would be helpful - a lot of it is just common sense (increasing/decreasing taxes is the answer to so many things) so it's easy enough to pick up on your own.

I bought a textbook in 5th year but I think we only used it about twice. Rapid Revision is really good, we use that and our teacher's notes in my Economics class now and it works fine for us. If you are buying a textbook though, make sure it's a fairly new one (publication dates are inside the front cover) as it needs to have up to date info on the economy.

highly1111

papers papers papers. you'll get the hand of what comes up each year fairly quickly.

always a question on supply & demand, market structures (oligopoly came up last year), costs of production, money and banking, international trade & government finances.

good luck - its quite a short syllabus so you'll get it covered in the year. Go with the rapid revision - i'm an economics teacher and rarely refer to the book but if you're interested we use the Richard Delaney one.

Mysteriouschic

Is understanding economics a good book to use as a textbook?
I got that today is it a good one? or will I change it?
Do I need to know all of whats in the textbook? There's a lot in it.
Do I need to know the elasticity formula's for the exam?
Should I read ahead as we're going through the course slowish I need a B1 at least in it. Maybe answer questions at the end of each chapter.

LoonyLovegood

make sure you know supply, demand and elasticity. Honestly, you should get a textbook if you want a high grade. Finish the micro course after those, then go onto macro. You'll want a decent understanding of the economy right now. Make sure you listen to the budget because it'll form a large part of the macro, it usually does.

Mysteriouschic

CTYIgirl wrote: »

make sure you know supply, demand and elasticity. Honestly, you should get a textbook if you want a high grade. Finish the micro course after those, then go onto macro. You'll want a decent understanding of the economy right now. Make sure you listen to the budget because it'll form a large part of the macro, it usually does.

I got the understanding economics book today as my teacher just writes notes. But theres 32 chapters in this book and it's very detailed. Do I need to know whats going on in the economy, Should start listening or reading the news?

LoonyLovegood

It's not essential, but it's a big help, especially for macro. I've done economics since fifth year, and when you can relate concepts you've done in class to real world examples that are in the news, it's a huge help.

Mysteriouschic

CTYIgirl wrote: »

It's not essential, but it's a big help, especially for macro. I've done economics since fifth year, and when you can relate concepts you've done in class to real world examples that are in the news, it's a huge help.

Isit doable to get the economics course learnt in a year?

CIARAN_BOYLE

Mysteriouschic wrote: »

Isit doable to get the economics course learnt in a year?

I did it and got a B something a few years back. Probably would have got an A if I did it in school for two years.

LoonyLovegood

Economics is more than doable. I go to a school with a lot of repeat students (probably 10-15% of the year), and a lot have taken up economics. With some decent work you'll fly through it.

skyscraperblue

Mysteriouschic wrote: »

Is understanding economics a good book to use as a textbook?
I got that today is it a good one? or will I change it?
Do I need to know all of whats in the textbook? There's a lot in it.
Do I need to know the elasticity formula's for the exam?
Should I read ahead as we're going through the course slowish I need a B1 at least in it. Maybe answer questions at the end of each chapter.

I think read through everything in the textbook but study and revise from a revision book - I don't really use my book.
The elasticity formulas are all in the log tables, just look under 'Economics' in the index. You do need to know how to apply all of them and explain the results.

Mysteriouschic

Thanks , I think we might be nearly finished the microeconmics now. I just need to learn those chapters off . Is there a certain way your supposed to answers questions like in business?

Mysteriouschic

Is the economics test very hard hard to predict?

My teacher was saying today that q1,2,3 and 7 would be the easiest to do. Then the other questions are topical and relate to whats going on around us or you need to apply the knowledge you have learnt to a particular situation and give a good answer.

How do you prepare for these others that you'd apply your knowledge to situations? Isit just be aware of whats happening around reading the newspapers, watching the news or Vincent Brown or something???