The purpose of this course is to provide you with a basic understanding of the principles of microeconomics. At its core, the study of economics deals with the choices and decisions that have to be made in order to manage scarce resources available to us. Microeconomics is the branch of economics that pertains to decisions made at the individual level, i.e. by individual consumers or individual firms after evaluating resources, costs, and trade-offs. The economy is referred to as the marketplace or system in which these choices interact with one another. In this course, you will learn how and why these decisions are made and how they affect one another in the economy. Economics is a topic that requires you to pay great attention to excel in it. Below are few tips which you can follow to succeed in ECN 212:
1) Attend every lecture
Attending lectures is must. There are concepts taught in class which cannot be learned using only textbooks. In-class discussions that stem from students asking questions in lectures, may come out to be useful during the final week. According to a survey conducted, Students memorize better when they hear something rather than reading. Therefore, try to attend all the lectures possible.
2) Study Technique
There are few points you should remember while studying ECN 212. Now, microeconomics is something which has lots of concepts including definitions, graphs, and many more complex concepts. You cannot just learn a definition by reading it, you need to read it atleast 3-4 times and you need to write it down too. Also, the graphs cannot be learned by just having a glance at it, you need to draw it. These are few common mistakes students often neglect while studying ECN 212.
3) Group Study
Study in groups. It’s easy to get lost in the logic of some economic arguments. Studying in groups forces you to speak up and voice out your opinions to other students, which can help to clear your doubts. While studying with others makes you involved with the subject related healthy discussions which makes you interested in studies.
4) Homework is must
Most of the students will not do their homework or they’ll just copy it down before an hour of the lecture. That’s not the right way to study ECN 212. There have been cases where homework has been very useful. Do the homework. Many exam questions are based directly on homework questions, so you’ve got to understand these.
5) Try to be ahead of class
Skim ahead before class by taking a look at the textbook or at the lecture notes and get the main ideas. What are the topics? What are the issues? And what are the main questions? What will the graphs look like? What will the equations look like? What’s the point of the material we’ll discuss in class?
Above are few tips which will help you to succeed in ECN 212. It is not an easy course but do not worry, it’s not that difficult either. Just follow the above tips and you’ll be loving this course and enjoying it. Have fun and happy studying!!