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For any Bachelor of Commerce students attending the University of Guelph, both Economics 1050 and Economics 1100 are required courses. Many other students in other majors also decide to take this course, because it provides a basic understanding of the world of economics. Here are 6 great tips to help ensure you have the right tools to reach success in both of these very similar economics courses.

 

1. Attend EVERY lecture

During your first year of University, you will hear this dozens of times. Yet, it is still one of the most important pieces of advice that can be given, especially for economics. There is a new concept almost every single lecture, so missing one can set you back quite a ways. So make sure you attend each lecture so that you are prepared for the exams.

 

2. Read the Syllabus

The Syllabus for first year economics is your bible. It contains all the due dates and concepts that you will need to know for the rest of the year. Students continuously review the syllabus to make sure they are kept up to date with assignments, quizzes, and exams. To ensure your success with first year economics, make sure that you check the syllabus for the course routinely.

 

3. Go to Office  Hours

First of all, at the beginning of the semester, take note of what the office hours are, as well as the SLG hours (Supported learning group). When you’re struggling with material, these hours are essential to help you understand and remember concepts thoroughly for when exam time comes. Office hours also provide you with motivation to do better throughout the semester.

 

4. Make sure you ace the online quizzes

In first year economics, the online quizzes account for 20% of your grade. However, because these quizzes are weekly, most students do not put the effort forth to getting 100% on these. On these quizzes, you have unlimited attempts and unlimited time, so if you want an easy way to boost your grade, ensure that you are acting all of these. Also, if you get 100% on ten of these quizzes, then the marks for the rest of the quizzes are cancelled. Overall, it is a great way to boost your mark and keep your morale high.

 

5. Buy your textbooks online

For both economics 1050 and economics 1100, you are required to purchase online access to a website called Pearson. This access will most likely cost you anywhere between $60 and $100. Then, you have the option to buy a hard copy of the textbook at the University Bookstore for $80+, or you can purchase online access of the textbook for $20. So if you can read notes off your computer instead of a hard copy of the textbook, you can save yourself some money by buying the textbook online.

 

6. Watch Videos to Understand the Graphs

If this is your first time taking economics, you probably won’t know what’s going on when the professor starts drawing up 20+ graphs each lecture. Luckily for you, there is videos all over the internet, such as khan academy, that will allow you to easily understand what’s going on, so you can ace your exams. For almost every concept in microeconomics and macroeconomics, you can find a video that easily explains the concept. So to help yourself and your grades, take advantage of these resources.

 

To conclude, economics may not be the most difficult course you will take in your first year, but it definitely will not be the easiest. Many students end up failing this class because some just do not take it seriously. However, if you want to ensure your success in first year economics, follow these tips that have been outlined and try your best.


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Andrew Leenders

Finance and Economics Student at the University of Guelph


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