Wednesday, May 24, 2017

Study tips for Econs

Case study

  • Generate your answers based on theory, then make reference to case study materials (when practicing)
  • Start from the back because they make up almost half/more than half of your marks. 
  • Understand/memorize standard answers then adjust according to the context, you don't have time to slowly craft a response. Always draw diagrams! Practice drawing them. 

Essays:
  • Don't spend so much time on intro, delve more into your body paragraphs. Put in definitions of concepts in your intro.
  • Write at least 3 points, 2 detailed, 1 not so detailed because you don't have time. 
  • Practice drawing diagrams. You can condense your diagrams if needed.
  • You can make reference to diagrams you have drawn in part (a) in part(b) but you cannot make reference to diagrams in another question. 
  • Make sure you know how to modify the 'standard response' according to what the question wants, come up with 'detailed' and 'condensed' versions of your answer. 
  • In microecons, do questions related to market structure and market failure because they have a clear essay structure. 

Evaluations:
  • Know your standard evaluations and elaborate in context. 
  • They don't have to be in the conclusion only, evaluate your answers in the body paragraph as well. State assumptions when illustrating a mechanism/theory.
Examples:
  • Don't just state examples, explain them and link them to the point/explanations you are making
  • Examples should have relevant details. 
  • Use standard examples (eg healthcare, public lighting), but you must be able to explain them well. 

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