Author: JC Admin

An introduction to economics

Studying economics can be challenging for students, as they are required to grasp foreign concepts such as supply and demand, price mechanism, scarcity, comparative advantage, and opportunity cost. Students are also challenged to learn new economic terminologies and skills including critical thinking and problem-solving. Continue reading this article to find out how to ace your economics examinations if you are currently struggling with the subject.

5 core steps to ace Economics A-Levels Examinations

Regularly keep up with current events

In economics, it is essential to keep up with the latest social issues since they could greatly impact the financial and economic landscape of an organisation, a country or even the world. To get a head start, subscribe to news sources such as the Straits Times, Bloomberg News, and the Economist.

Learn the examination’s techniques

Economics involves more than just memorisation. Although memorisation is necessary for reciting certain key economic theories and concepts, it is important to demonstrate to examiners that you understand how to apply certain key economic theories and concepts. This can be done by examining the mark schemes and learning how each section or question will be graded to ensure that your answers satisfy your examiners’ requirements.

Make use of economic theories

It is vital to put the concepts you have learnt about economics to use as well. With the numerous and unique economic theories, you will benefit from learning them by heart and applying them to various examination questions. This differentiates you from other students who might just be repeating material from the textbook and demonstrates to examiners that you go above and beyond by conducting additional research to thoroughly comprehend the concepts.

Use the 4-Step thinking process

This can be accomplished by following the four-step procedure, which entails identifying the issue, outlining it, providing relevant examples or data, and finally rendering a critical analysis or judgment.

Review your work consistently

Prior to any study session, make sure to review the content you covered in the previous session. This can aid in reviewing the concepts you learned previously and make it more likely that you remember them.

5-Step Process Made Easier with JC Economics

Studying economics in the A-Levels is no easy feat. Using the 5 core steps outlined above can make studying economics easier. This 5-step process is frequently used in our classes at JC Economics as part of our teaching approach.

We at JC Economics are proud of our standing as Singapore’s best A Level economics tuition provider. As a testament to our effective results, we have earned multiple accolades and press attention from prestigious news outlets including BBC, CNBC, and The Straits Times. With our weekly intensive lessons encompassing essays and case studies, effective teaching methodology, and flexible online and offline class options, we hope to cultivate our students’ interest in economics and equip them for success in economics examinations. Additionally, we offer intensive revision programmes that cover material from the JC 1 syllabus and help students improve their understanding of each topic. If you are looking to excel in your Economics A-Levels examinations, sign up for a class with us now.

Taking A-Level Economics in Junior College

Economics is a subfield of social science that focuses on the distribution of finite resources with multiple uses to satisfy wants and requirements. The subject can be taken in junior college at an H1 or H2 level. If you are currently deciding whether to study H1 or H2 Economics, continue reading this article to learn out more about the difference between these two subjects.

What do Economics Assessments look like?

Before deciding between H1 and H2 economics, it is good to get a general understanding of their assessments so you know what to expect. The assessment for H1 Economics is 3 hours long and worth a total of 90 marks. There is only one Paper 1 component, where candidates must respond to two equally weighted case studies. On the other hand, the assessment for H2 Economics comprises Paper 1 and Paper 2, each worth 60 marks and 75 marks respectively. Each paper is 2 hours and 15 minutes long.

Both the H1 and H2 economics curricula follow a similar structure, but the former gives students the fundamentals of economics in only half the curriculum time. Both curricula are designed to provide candidates with a basic understanding of economic theories, the capacity to explain and analyse economic problems using economic reasoning, the habit of reading critically, and the ability to support economic claims with evidence.

The two curricula share three key themes. The primary economics issue is covered in the first theme, which guides students through the conflict between limitless needs and finite resources, different issues that economic agents face, scarcity as the main economic issue, and economic theories and tools.

The second theme explores economic markets and how they respond to basic economic problems, how economic agents make decisions, microeconomics, the price mechanism and its applications, and market failure.

As for the third theme, the country’s economy, its various economic challenges, macroeconomic analysis, and standard of living are covered.

What is the main difference between H1 and H2 Economics?

For H1 Economics, case studies are the main emphasis, whereas, for H2 Economics, essays comprise 60% of the final grade.

In general, H2 Economics topics are more advanced than H1 Economics topics. For instance, you learn how economics is applied to everyday life and how the public, businesses, and customers perceive economics.

Strengthen your economics foundation with JC Economics

Regardless of whether you have decided on studying H1 or H2 Economics, it is beneficial to explore economics tuition options. At JC Economics, we have a qualified tutor who specialises in teaching both H1 and H2 Economics tuition. In addition to our weekly tuition sessions which are jam-packed with essays and case studies, we also offer intensive revision programmes that cover material from the JC 1 syllabus and help students improve their understanding of each topic.

If your child is currently struggling with economics, consider enrolling your child in a class with JC Economics. To register, please SMS/WhatsApp your child’s full name, the selected time slot, and the school to 8251 3684. You will receive a confirmation SMS or WhatsApp if your registration is successful. We look forward to helping your child excel in economics!

What is ‘economics’?

Economics refers to a study of scarcity and how it impacts a variety of complex social issues, including how resources are used, how goods and services are generated, how output and welfare rise over time, and a wide range of other complicated issues that are extremely important to society. It is a multidimensional field that impacts politics, law and society on a global scale.

How important is economics?

The study of people is at the core of economics. It aims to clarify the motivations behind people’s actions, choices, and responses to challenges or victories. With its integration of politics, sociology, psychology, and history, economics is a rich field. By studying economics, you may better learn how to think strategically and make wise decisions to maximise results.

Studying economics is also important in developing life skills as its concepts and theories can be applied to everyday life. By understanding economics, past, present, and future models can be applied to society, governments, businesses, and people, which can give you a larger perspective on life.

Can economics help in getting my child to university?

If your child has shown the aptitude to succeed in economics, you may want to continue nurturing your child’s interest in studying economics at university. There are a couple of undergraduate courses with a focus on economics, including financial economics, economics, international development, public policy, business administration, and more.

Are there any careers that are based on economics?

As a parent, you might be unsure if studying economics at university will lead to rewarding career prospects for your child. It is beneficial to know that studying economics equips your child with various in-demand skills, such as high levels of numeracy skills and the ability to interpret data. Studying economics can be the gateway to numerous careers such as banking, anthropology, services for business consulting and financing, urban planning, government law, non-profit organisations, public policy, and more.

How JC Economics can help your child in economics

If your child has expressed interest in studying economics in university or pursuing it as a career, it is a good idea to start preparing your child to do well on economics examinations. A strong economics foundation beginning in pre-university would be necessary for undergraduate studies or a job in the field. This can be accomplished by enrolling your child in economics tuition to ensure that he or she is familiar with economics theories and concepts as well as applying them in real-world situations.

At JC Economics, we take pride in our rigorous economics tuition classes which give students lots of hands-on practice in writing essays and case studies. For them to better understand examination criteria and ace their examinations, we also offer a full suite of in-depth notes and essay structures. Online Economics tuition is also available via our on-demand videos are where you can purchase based on the required topic or case study. Furthermore, we strongly encourage students to read economics news to give them practical knowledge they may need to answer examination questions. To learn more about how you can support your child to pursue a future in economics, register for our classes today!

Private tutoring is a career choice where you are your own boss. You can easily monitor and determine your own working hours, location, and work goals as well. Arguably best of all, you can also determine the number of students you wish to take in and adjust their tutoring fees according to your preferences.

On the flip side, every business requires a lot of sacrifice, and being a private tutor is no different. To establish yourself as a good private tutor, one can consider the following tips and strategies:

  • Evaluate your ideas and constraints – Creativity is what happens when you push yourself beyond your limits. To keep yourself thinking outside the box, regularly ask questions such as: what are the various ways I can approach this problem? What is the purpose of this idea? What are the constraints? With these questions, you will always be able to come up with new creative ideas.  
  • Be honest and flexible – Being authentic and adaptable with your students will help you to establish good rapport with them and will build trust in the tutoring relationship. Being a good tutor also means being able to customize your teaching skills and approaches to suit your students so that they can walk along with their tutors smoothly. 
  • Be patient – Things that are easy you may not be easy for your students. Remember to make patience the foundation of your teaching techniques and be deliberate in concealing any unnecessary annoyance in your voice or body language when talking to your students. 
  • Be a good listener – It is essential for tutors to be good listeners because children often have many thoughts that they need to say aloud. Be attune to picking up clues in students’ behavior and manners of speaking to get a comprehensive idea of what your students have been feeling. And remember, a good learner should never dominate the conversation.
  • Have confidence – Having confidence doesn’t always mean knowing all the answers to any question your students ask. It can also mean having the courage to say “I don’t know the answer”. It is okay to tell your students that you need time to think through or do research on a question before you get back to them. Your confidence will surely inspire them to be unafraid to ask questions themselves. 

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.
  1. 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. 
  1. 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. 
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