Top 6 Tips for Economics from the Premier's Award Winner

6 tips to Nail Economics

Economics is no easy subject. Somehow it's a massive combination of both writing and english skills plus a thorough understanding of finance and maths. And, if that wasn't enough, there's also a bit of politics involved. Take a look below to learn a few of the valuable tips for how to ace Economics from one of our tutors who got a perfect score in the subject!

1. Keep up to date with the Australian economy – knowing how to apply the theoretical concepts to our current economy is paramount! Be aware of specific budgetary policies, recent monetary policy decisions and current statistics relating to the macroeconomic goals. Incorporating this knowledge into your responses will immediately improve the quality of your answers
2. Understand the different task words of questions – are you being asked to distinguish, evaluate, explain, define, identify or discuss? Each task word should shape the structure of your answer
3. Know your definitions – being able to define or explain key terms is critical and will often form the basis of your response
4. Use the VCAA examination reports as a resource – the examination reports provide examples of high scoring responses whilst also flagging areas that students need to improve, this is often an indicator of what will be tested the following year
5. Create a “Remember or Mistakes” Diary – keep track of the little things that you frequently forget or mistakes that you have made in SACs/practice exams
6. Practice, Practice, Practice!!! – spending the time to formulate responses, properly correct and then going back to improve your answers is ultimately the key to succeeding in VCE Economics