How to study economics

17 Dec How to study economics

Economics is considered one of the most challenging subjects for the students, especially for those who are not familiar with this subject in their high schools. Economics is subject that comprises concepts from two different subjects: social science and mathematics. The social science or psychological part of economics includes explanations of an individual or groups behaviors in making decisions. At a higher level, students will have to deal with the mathematical aspect. This will enhance their study of economics, increasing their abilities to analyze markets, and the distribution and consumption of scarce goods and services.

To successfully understand the subject of economics, one should demonstrate the following 4 steps:

• Knowledge
• Comprehension
• Application
• Analysis

By following these steps, students can easily have a good grip on the subject.

1. Attend lectures on YouTube – Many YouTube channels that have multiple videos of 20 to 40-minute duration that comprise thorough knowledge on economics. The YouTube platform is convenient as you can rewind your videos and ask questions in the comment section. This route of studying economics will help you discover many aspects of economics in a fun way. For those who do not want to go formal education of economics, this is a good way of picking up the subject.

2. Self-study through books – As we said earlier, every student has the capability to learn new subjects on their own. Video lectures, YouTube courses, and assignments may not be effective for every student. Some people only want to know the social side of economics and not the mathematical aspect. For such students, there are hundreds of books that they can read in their own time to gain a better understanding of the subject. 

3. Create your own notes and assignments – After attending all the lectures either on YouTube or through self-study with books, it is beneficial to review those lectures again and again. Students can do this by making personal notes, which help them during quick revision sessions.