Intermediate Microeconomics Ebook

These 7 tips on studying economics are designed specifically to assist you to get the most out of your time spent studying this course.  Studying economics is not at all like studying history or like reading a novel; so what might work in studying history or reading a novel for an English course may not work in economics.

1. Avoid memorizing: Studying economics is not about memorizing terms and concepts.  It’s more about thinking.  You can memorize that an inverse relationship exists between price and quantity demanded, but unless you think about what that means—that when the price rises, other things being equal, a greater quantity will be demanded—and ask yourself why this is so, you are merely parroting, not learning.
2. Try to “do” economics:Yes, we really do It’s good to study the graphs but after you have studied them, you will learn economics and understand models by actually drawing the diagrams.  A pencil and paper are vital tools in studying economics

3. Label your diagrams: As you draw and sketch your graphs, make sure that you label them. If you are drawing a demand/supply diagram, when you write price on the vertical axis, think about why you are doing it.  This helps to keep you involved with the task you are undertaking.