Economics – the art of maximizing marks

Published in Hindustan Times, New Delhi, Jan 27, 2016

Consistent efforts are required in last 60 days to crack the Economics exam. A thorough and exhaustive planning is required to achieve success in the Boards.

Here are a few tips that will help you maximize your score.

  • Prepare an exhaustive academic calendar: Go through the syllabus well and allocate time for important chapters which carry more weightage. Also specify the content that will be covered during these study hours.
  • Make notes: Prepare effective notes of terms, definitions and important points chapter wise will suffice for final revision.
  • Evaluate comprehension of the topic: Comprehend the relationships between different economic variables with the help of a schedule and a diagram. Learn the conditions of consumer’s equilibrium as per utility approach and indifference curve approach and also of producer’s equilibrium. Evaluate your own understanding by doing some exercises. It will strengthen your learning process.
  • Practice diagrams: Practice diagrams and illustrations after reading each topic to avoid wasting time, prepare new illustrations at the time of examination. Diagrams should be supported by appropriate headings and arrow marks. For example, illustration and diagrams showing relationship between AC & MC, AP & MP, AR & MR should be learnt by heart.
  • Practice numerical: Numerical problems of 15-20 marks are an important component of the economics exam. Prepare a list of formulas for quick reference before the examination. Practice national income accounting numerical of the three methods of measuring national income i.e. value added, income and expenditure method. Also practice numerical on cost, product, revenue, producer’s equilibrium and theory of income, output and employment.
  • Attempt sample papers and practice questions: High-order-thinking-skills questions are tough if you don’t understand them. So, practice innumerable questions from various books. Revise from past papers as it is best to familiarise yourself with the format of the exam so that you can complete your paper in three hours.Avoid common errors made by students while attempting the Economics paper such as not writing the formulae while attempting numerical and writing incomplete definitions. For eg, while stating law of demand students usually forget to write ‘keeping other factors constant’
  • Group Study: This keeps you updated on any changes in syllabus or questions that may be available in different sample papers.
  • Do not get stressed and get enough sleep: Avoid negative interactions with your peers. Stay motivated and aim for excellent results.

(The article has been prepared by the experts at Studymate and can be reached at studymate@hindustantimes.com)