“There’s the great thing about Economics it’s very vague and no-one really knows what it’s all about.”
Ever came across this statement before? Did it tickle you to a hearty belly laugh or had simply increased the level of apprehension? If you agree with the former chain of reaction (very likely), well, then you are already comfortably on the economics de-ride; and are well past that terminal of doubt, where you’d begun to question your sanity of the moment when you decided to earn major credits in Economics. Now you have arrived at the juncture where most of your non-economics friends are seeing you as an economics expert. Where terms like Killer bees, Dead cat bounce, and Laffer curve do not remind you of the fables, you have heard when you were a kid. Now you are well on the way of reaching that credit for which you have tolerated all those monotonous sessions.
Apparently, there’s nothing between you and the splendid economics honors, or is there something? Isn’t the final Economics assignment still due? Isn’t it the very reason you’d found the title interesting? The promised three tips that were to help you with your economics assignment.
1.Always do what you’re afraid to do: No, this is not a motivational thought for life, for I know many people are afraid of falling from precipice, and the suggestion is cruelly un-suggestive for them. Bring your adventure thirst a notch down and apply the idea just for the sake of studies. For example, if you are really bad at equilibrium theories of macroeconomics, complete that first and keep those simplistic price theories for later, because if you get yourself indulged in the simpler and likable topics first, switching to more complex subjects would become a matter of difficulty. The change in your perception, if there’s a change at all, would be in the adverse direction.
2.Reality check with the economic models: If there is one thing concrete in economics, it is the economic models. Sounds paradoxical, doesn’t it? What about the fact that most of them are based on unrealistic assumptions? However, it is also a fact that these logical and interrelated models are the only things in this amorphous subject that are not, well, amorphous. Try to understand their concepts; take into consideration all the graphs, charts and diagrams, and make sure you know all the relevant terminologies.
3.Structure is more important than the content: Be precise, expressive, and constructive; these are the three golden rules for writing a high grade worthy economic assignment. Constructive, as it is a professional course; expressive, it is mostly theoretical; precise, oh come on, it’s economy. What under the sun were you thinking about? Wait! You are an economics student, aren’t you? I believe you are; no non-economic person would give a cent worth notice to such a post.
All the best Economicademician!