Studying Economics

Studying Economics

Hey,

I am going to share my experiences studying GCSE economics. At first it seemed really difficult, however as time passed things got easier with GCSE economics. I am going to give you some tips for studying Economics GCSE.

Know the terms

If you have taken economics as a subject you would know that “good” in economics means product and good in English means positive. So, you will have to understand the terms

Do not memorize

Never memorize the relations between different things, it won’t help. All these concepts are interrelated so if you are able to understand one of the concepts you can easily understand the other. I have a friend who memorized the affect on unemployment if inflation increases, but in the exam he was asked about the effect on unemployment if taxes are raised.

Know the graphs

I used to quiver whenever I saw the graphs, but the truth is that they are quite interesting once you start making them yourself. For a starter always put price on the vertical axis and quantity on the horizontal axis.

Business studies

If you have the option, then take business studies along with economics. They are not similar subjects but if you will take economics with business studies it would be easier for you to understand both the subjects. They are somehow related and complement each other.

 

This website provides all the terms, concepts and graphs you need to know for an Economics exam.