Economics is all about making choices. Many people think, that it is all about money. So, economics is all about budgeting and reducing waste. But, still there are questions, like whether it is an art, science or a social science?
Robbins had defined Economics as ‘the science which studies human behaviour as a relationship between given ends and scarce means which have alternative uses.’
Why do students study economics?
- Economics has excellent professional prospects. That is the main reason, why students select economic at graduate level.
- Great salaries on passing out. The jobs in economics field helps earn a figure equivalent to doctors and engineers.
- Economics help us in understanding the world around us. You can relate the subject to all occurrences around us.
- Economics encompasses a variety of subjects, intertwined into one. You have maths, science and arts, all woven into the very fabric of economics.
Find out what is taught in Economics at graduation level
The first year is a bit generic, with introductory Microeconomics, Macroeconomics, Quantitative methods which includes mathematics and statistics. This is the foundation of the subject and comes handy in the preceding years. There are a variety of specializations, like Development Economics, Managerial Economics, Labour economics and many more.
Studying Economics and Its Challenges
- At A level, students need to study at least for 10-15 hours in a week. This is for in-class, workshops and seminars. Apart from this, 20 hours of self-study is required to excel in the subject.
- In terms of language, non-native speakers of English do have issues in picking up nuances of the subject internationally. It has been found out that such students, take longer to learn certain aspects of the subject.
- The manner in which economics is taught in colleges is confusing for many students. The main reason for this is, the way in which economics is taught. It sometimes lacks common sense.
- Jargons are another issue. Words and definitions like scarcity, opportunity, marginal returns can be quite confusing at times.
- Some say, that the rules of supply and demand are more difficult to understand, than politics and cooking.
- It is very important for all students, to have some practical experience in banks, business firms, stock market firms and agencies. Then, only it becomes possible to have an understanding of the various terminologies only.
- Technical terms, are not explained through examples. Hypothetical situations should be created inside the classroom, and then the technical terms should be related to them.
- Financial markets are also quite difficult to understand for newbies. It is important to understand, how prices are set in the market.
- Mathematics is also required in many facets of economics. So, you need to be clear on that aspect as well. It is nothing but applied mathematics and pure logic.
Methods of Discovery of Laws and Principles
Deductive method – it is useful in the investigation of complex financial incidents and finding out if the presumptions are worth it.
Inductive Method – It deals with issues related to information on economic consumption of the various classes in our society.
Microeconomics and Macroeconomics
These are two very important subjects, when you are starting off with the study of economics. These two topics are the foundation to study economics. Let us elaborate.
Microeconomics is the study of economic systems, on a small scale. It applies to an individual, group or company. It includes the study of supply and demand.
Macroeconomics is about the entire economy of the country or the world. Both of these deal with similar issues, however on different levels. These two are interconnected, which shows similar means of solving issues in both of these subjects. Both of these principles apply to monetary decision-making and financial markets.
It is always advisable to study Microeconomics, then Macroeconomics. Study of the financial markets is very important, in understanding economics. These subjects are rolled into one unit at university level. You can say that Microeconomics is more mathematical and Macroeconomics is less.
Learning to Study Economics
You will find it more difficult to understand in the first and second year of college. So, it is more beneficial if you can study economics in high school. Like that, you can have a feel of the subject. You have a few prerequisite:
- Knowledge is important to study economics. You need to know your subject well.
- You need to have good comprehending skills.
- Now, you need to apply whatever you learn. Without the application part your knowledge is incomplete.
- Analysis is also an important aspect of the subject. Analytical skills can be mastered from researching more and more problems in real-life scenario.
Questions on Knowledge:
These questions need less analysis skills. You need to know all your definitions well, that is it. It is very similar to high school level economics. However, it is one of the most important things that will take you forward in the quest to conquer economics.
Questions on Comprehension:
This is the second level of studying economics at graduation level. This part focuses on the interpretation of matter. You will need this skill in converting words to number and vice versa, estimating trends and forecasting. It is the basic understanding, which one should possess to study the subject and make a livelihood, out of it.
Questions on Application:
The third level, in this series is application part. This is the reason; you are studying the subject in the first place. At college level 30-50% questions are application based. You will be applying all the knowledge you gathered in the real world.
Questions on Analysis:
This is the final level of academic education in the learning of economics. It is the ability to break down theories and relate between the different parts.
Homework Help in Economics
Are you a college student, trying to fathom the depths of economics? Do you think at times, that the classes in college are not helping you in understanding certain basics? Fret not, as there are numerous homework help companies in the market out there to help you.
Sometimes, you miss out certain points in the classroom, amidst so many other students. It becomes difficult to ask the same question again and you keep it hidden in the background. However, you need to understand that the loss is yours in the long run. Then there are all those calculus and other numerical problems that you need to follow to unearth certain problems in economics.
It is also not humanely possible for one single teacher to enquire from 20 odd students in a one-hour class. After class intervention is required to clear those doubts, which are unattended to in the classroom. But, how many teachers or professors actually do that?
Then, coms examination time. You are really stuck in the doldrums of economics theories and problems. You are still stuck with an equation and can’t find out how many products you require for a certain company to start with.
The economics homework help experts can definitely ease your problems, for you. There are graduates to masters in economics, looking to solve your problem. There are professors on the subject, out there to make some extra and are eager to help you out, in your quest for economics solutions.
Numerous companies are coming up, with 24×7 online classrooms. You can close your eyes and rely on these expert companies. You can be based anywhere in the U.S the homework help companies are there to help you. You can shoot your questions at any time of the day and mind it, they will definitely be answered. Online classes have interactive white boards, where calculations and equations are shown and answered. The online class tutors, upload documents and answer via instant messaging system. You can also checkout older sessions, if you want to.
Learning to Study Economics
This homework help companies will teach you, how to study economics. Let us go through the tips, these companies give to students who have enrolled with them.
Completing your Assignments on Time
This is one important method, for any subject whatsoever on this planet. You need to prepare your assignments before attending classes. If you take some time out at home, go through what all is taught inside the classroom, then it becomes easy to ask questions in the classroom. Then, you can understand the lecture properly and ask relevant questions. Once, you clear the doubts regarding the basics, then it becomes easier for your professor in explaining the advanced concepts.
Read to Understand
You should devote some time to reading the text books in economics. Try to inculcate the habit of reading the chapters for 10-15 minutes only. Try to jot down and remember the main points. Read the introduction pages of the chapters properly. It provides a summary of what is on offer, in the pages. Read a topic singly. You will find tables, graphs and other interpretations. Understand everything that you can and ask the ones to your online tutor.
Attending Lectures and Presentations
You should try to attend all your classes in college. It is such an important subject, that if you miss one class also, that can have a far-reaching effect on your understanding and scores in examinations. You should not think, you can give your class a miss and collect the lecture notes later on. It is simply not going to help you.
Cumulative Learning at its best
Cramming does not help in a subject like economics. You need to understand, comprehend, analyse and apply. I have already told you this before. So, you need to understand the basics first and then move forward. It cannot be the other way round.
Take Notes properly
Now, there are two sides to it. To take notes or listen carefully. Both are important. Listening to what your professor is saying is as important as taking the notes in written for. Try to copy all that is drawn on the white board, as you can refer to those after a while.
The Top Four
There are a few things that you should do – listen, ask, respond and take notes.
Students are always asking for economics help, as the syllabus is pretty extensive. There are mathematical and logical questions to be answered. The economics research papers help to solve the queries at hand. The economic experts have a general command over topics like micro, macro theories, international trade, econometrics and many more. They are qualified people with bachelors and master’s degree in the discipline.
In order to get help from homework help companies, you need to register yourself with them. The costs are pretty low, owing to the high competition in the market and you can get a good bargain on that. You will be checked for competency and the appropriate level of writer will be assigned to you.
You shall have the interaction, which is ever so necessary before proceeding forward. Now, discuss regarding your issues with the homework help tutor and strategize. This is an important step in finalizing the work flow, to match both of you. Your learning styles are different and so will be your outlook. Matching both of them is extremely important.
Expect the best to be delivered. Generally, the home work assistance companies will pay you due attention and wok as per the deadlines given to you. You would need to follow up and expect to get the thing, well within time. They have a specific turnaround time and you will see, that they definitely follow it.
The homework help companies are available aplenty, however you need to ascertain the right match for you. See their credentials and reviews from other fellow student and decide on the one. Go ahead and get the best homework help in economics today.
Michelle Johnson is an experienced professional with specialization in Economics. She has almost 6 years of experience in the said field. She has graduated from Harvard University and taught extensively in schools and colleges. She follows a unique method of pedagogy, which attracts students to her classes. Michelle also has online tutoring experience.