In a world of limited resources, we cannot have everything we want.

Economics helps us to efficiently allocate our production, consumption and transfer of wealth so we can be as comfortable  as possible.

The two main branches of Economics deal with macroeconomics and microeconomics, and they directly impact our everyday lives.

Macroeconomics focuses on large-scale factors, such as interest rates, inflation levels, aggregate income, exchange rates, foreign trade, and government policies at a national or global level.

Microeconomics focuses on the behaviour of individual consumer and producer behaviour, and how it impacts production and business decisions.  

Economists provide the tools that analysts use to study the costs, benefits and effects of government policies in healthcare, education and a range of areas that affect society.

They help guide these decisions to work towards stable economic growth and a thriving society.  

If you want to do work that can influence how the world is shaped, then Economics is the perfect choice for you.   

Understanding the world economy is the key for driving success for many national and international corporations.  

Economics uses empirical evidence and scientific methods to study people and the choices they make.

It provides the insights and analytical framework required to understand the way our world operates, from the choices we make in our everyday lives to how businesses or governments achieve their desired objectives.

Understanding economics will make you a better thinker and problem-solver.

An astute person will choose the option that yields the highest net benefit for themselves.

Every rational decision that we make uses economic methods by analyzing the costs and benefits of each option (i.e. pros and cons).

Clearly, economics is everywhere – it helps us make logical decisions and achieve outcomes that make us, as individuals or a society, better off.

ECONOMICS TEACHES YOU THESE PRACTICAL SKILLS

One of the best reasons of studying economics is the valuable transferable skills you will develop during your degree.

These transferable skills are very attractive to employers and can be applied to work in any field of economics.  

The expert opinions and research findings of an economist are used to help shape a wide variety of policies, including interest rates, tax laws, employment programs, wealth management, international trade agreements, and corporate strategies.

The duties of an economist are exceedingly diversified.

They research economic issues; conduct surveys and collect data; analyze data using mathematical models, statistical techniques, and software; present research results in reports, tables, and charts; interpret and forecast market trends; advise businesses, governments, and individuals on economic topics; recommend solutions to economic problems; write articles for academic journals and other media.

Developing and enhancing these skills will be invaluable when looking for a job once you have successfully graduated with an economics degree.

By learning to become users of information, students understand:

• What Economic decisions are and how they are made
• How decisions are made using Economic information
• The limitations of relying only on Economic analysis
• The consideration of non-economic information
• The development of transferable techniques that include investigative, problem solving, research, decision-making, mathematical competence, and analytical aptitude
• You will gain analytical dexterity, have an enquiring mind, and sharpen the ability to think logically
• The thorough and methodical approach to how you learn, assimilate and present important information
• How to deepen your organizational aptitude to plan and carry out projects
• How to explain results clearly and concisely
• Understand how Economic concepts relate to each other

WHY STUDY ECONOMICS?

You hear a lot about the importance of economic growth, but it is only recently that people have started to question if growth leads to the sort of lives that people really value.

The single most important economic concept is scarcity.

All economists agree that resources are scarce, and every economic theory is connected to this concept, whether it is an opportunity cost theory, demand and supply theory, or other hypotheses.

Understanding how and why economic booms and busts happen in a country is critical to understanding how a country develops and how the benefits of that growth are distributed.

When economies grow, countries can tax that revenue and gain the capacity and resources needed to provide the public goods and services that their citizens need, like healthcare, education, social protection and basic public services.

Growth creates wealth, some of which improve the wellbeing of workers and employers.

When people earn higher incomes and spend more money, this enables them to exit poverty and gain a higher standard of living.

Economic growth can galvanize groundbreaking societal shifts by generating new economic opportunities and possibilities, new ways of thinking and new technologies.

These factors are identified by economists who research and analyze data, issues and trends in order to produce and present economic forecasts and reports. 

Economists are invaluable because of their ability to use reasoning and data analysis to study the full range of human activity.

Using these data, they can apply their expertise in understanding the material world to ensure the economy is sustainable. 

Economics is a broad field that opens the door to a wide range of career paths, depending on your skills and passions.

BENEFITS OF STUDYING ECONOMICS

Economics is a social science with stakes in many other fields, including political science, geography, mathematics, sociology, psychology, engineering, law, medicine and business.

It seeks to determine the most logical and effective use of resources to meet private and societal goals.

For example, if there is a change in spending trends in a particular industry, investors and companies working in that industry might ask economists to provide perspective on what the next evolution of the market may be.

The research and analyses conducted by economists can reveal the underlying causes that shape market cycles in specific industries.

Companies can then use such perspectives to adjust their strategies, including whether or not to pursue the development of certain products, or if a service should be discontinued in favor of a different approach.

At a national level, insights of economists can also be to contribute to forecasts for job market growth as particular segments of the economy grow.

The study of scarcity and its implications for the use of resources, production of goods and services, growth of production and welfare over time, and a great variety of other complex issues is of vital concern to society.

WHAT REWARDING CAREERS/SPECIALTY AREAS REQUIRE ECONOMICS KNOWLEDGE?

Think Economics is a rigid and boring subject? Think again.

If you want to understand wealth, poverty, growth, trade, money, jobs, income, inflation, stagflation, recession, prices and monopolies, and also study what makes the world work every day, you will be fascinated by the intricacies of Economics.

Economics is the qualitative development in a nation’s citizens’ quality of life.

A nation’s overall development comprises the creation of job opportunities, living standards, technological advancements, living conditions, industrial and infrastructural development, quality of life, cost of living etc.

It is the role of an economist to research these issues, recommend solutions to economic threats, and to identify potential trends or make economic forecasts.

Because of factors such as globalisation, growing populations, and inflation, the field of Economics has evolved significantly over the past few decades, and it is now more dynamic than ever.

For students passionate about Economics, the career prospects are exciting, extensive, rewarding and diverse with high levels of responsibility, access to the latest technological advancements in your field, and the potential for high financial income.

The following examples often involve working with complex concepts, and a deep understanding of Economics thought.

So, which are the best paying jobs with excellent job prospects and potential career paths within the Economics sector?

While many go on to be a type of economist, the knowledge you gain and the skills you build can be applied to other fields, such as investment analyst, central banker, stockbroker, compliance officer, consumer advocacy, risk manager, data analyst, law, government, economics historian, international relations, non-profits, education, economic think-tank analyst, financial risk analyst, business consultant, economic development, international trade, health and urban economics, investment banker, public administration, taxation policy, health and urban economics, labour economist.

If you enjoy researching and analyzing economic issues, making forecasts and designing policies, then working as an economist might be a great career choice for you. The tasks an economist undertakes can change daily due to the evolving field of economics, so each day brings something new to the role. This means you will constantly be developing your skills and knowledge.   

Economists also possess strong analytical and problem-solving skills, attention to detail, and the ability to work with precision in a laboratory setting.

Economics majors will certainly continue to be a vital part of the workforce to help significantly improve people’s daily lives.

HOW TO STUDY ECONOMICS  

Why is studying Economics difficult?

Economics is a progressive subject.

Anything you learn in the beginning of your Economics syllabus will be used later in curriculum.

So, you need to really pay attention and understand.

Especially in the beginning.

You will see over and over again the interwoven topics and materials that you had learned before your first Economics exam, in subsequent lessons and exams.

This means that you have to get it right from the beginning, or risk being left behind.

If you feel the need to slack off at all or to take a break, do it near the end of the semester/academic year.

It is best that you aim for an A right from the beginning because many top-scoring students find that their grades start to slip when the content gets more complex.

They typically face difficulties in Economics when they struggle to grasp foundational concepts, encounter tougher mathematical calculations, fail to make connections between different topics, and find it challenging to engage in abstract and logical reasoning.

Economics is considered a social science because it attempts to explain behavior of individuals, groups and organizations.

It can be as difficult and demanding as any of the other equally challenging academic subjects like Physics, Chemistry etc.

However, unlike many social sciences, Economics is based heavily on Math and Statistics.

Economists monitor past and present trends and issues. They create mathematical models to predict economic developments.

Time, dedication and good study habits are required, in order to do well in Economics.

It is such a demanding course that you cannot afford to miss class.

A lot of the information, understanding and help you will need to get through your Economics syllabus will come directly from your JC teacher, through her lectures.

It is not possible to miss class, copy our friends notes, and expect to do well in Economics.

It won’t happen.

Mastering what you learned in class last week is necessary in order to understand what is being taught in class today.

Don’t take good notes… take the right type of notes.

Your notes should clarify and supplement what you have already learned from your own study and clarify anything you do not quite understand.

Once you have obtained knowledge and can understand economic concepts, principles, laws, and theories, you are expected to use and apply material in real world situations.

You should therefore develop complementary skills: when you enhance your math, critical thinking and decision-making abilities, you will be able to apply economic concepts more convincingly.

The unfamiliarity, volume and speed of information presented in Economics can be overwhelming for many students.

The vast expanse of knowledge, intricate terminologies, and the interwoven complexities often pose hurdles.

Many students grapple with the sheer volume of information and the abstract nature of Economics.

Reading and understanding extensive material by yourself at home can become intimidating, and this can discourage the pursuit of better grades.

By using the practical and easy tips below, you can master your Economics syllabus.

Memorizing basic information is helpful, but real learning comes from conceptual understanding.

Conceptual understanding is the goal.

To achieve this, it is crucial to note:

1. Some memorization is required, but mostly you need to think. You need to get used to working through how something works
2. To put it simply, there is a lot to learn and only a limited time for you to be adequately prepared for your exams
3. Economics is hard because you think it is hard. If you think something is difficult, you are setting up yourself to fulfil that expectation. You therefore need to truly believe that you can learn Economics. You may need to learn new study skills and change the way you organize your time, but anyone with the determination to learn Economics can do so. Once you succeed, you will gain a deep sense of accomplishment
4. The more times you hear and practice the materials, the easier it will get. Sections and chapters are constructed to highlight and guide you through particularly important concepts and economic phenomena, so do revisit the content regularly. This can help you to increase your understanding and retention of the topic
5. If you did not answer any test questions correctly, go back and learn that exact material until you master it. Do this before even more content is covered by your teacher in class
6. See the “big picture”, the hierarchical structure of economic systems
7. Be able to understand how and why economic systems function the way they do
8. Grasp not only the definition of terms but why they are important
9. Do the assigned readings before your teacher covers it in school. Read and take notes on the assigned material before you come to class. This will enhance your understanding of the lecture and make note-taking easier
10. Check your understanding. After reading a section in the book, ask yourself if you could explain the material to your sibling or a friend. Reviewing questions and quizzes at the end of each chapter is also a great way to check your understanding of what you just learned
11. Convert your notes into study aids. When studying for exams, do not simply re-read your notes. Instead, convert your notes into matrices, concept maps or other visual representations of the material. Re-reading your notes is not enough
12. Form a study group. Working with a small group of 3 to 4 students will enhance your learning and comprehension. Teaching others is one of the best ways to learn Economics
13. Partner with an admired Economics mentor

If you cannot seem to truly understand a concept – even after consulting your notes and the textbook – schedule a meeting with your school teacher or start tuition with a Economics tutor from The Best In Singapore.

We equip our students with the how-how to study smart and score big for exams.

The individualized attention and tailored approaches offered by expert private tutors can unravel the intricacies of Economics. This is the transformative benefit of personalized Economics tuition in Singapore.

Economics principles build on top of one another, so taking the time to fully understand the more basic principles of Economics can help you to succeed when learning about the more difficult skills.

With customized guidance, students can navigate through challenging topics, understand complex theories, and foster an enduring curiosity for how economic processes work.

This demystifies Economics and helps you overcome academic hurdles. It also instils a profound passion and curiosity for Economics beyond mere academic obligations.

HOW TO TURN THIS MONTH INTO A SPRINGBOARD FOR SUCCESS IN YOUR NEXT EXAM

Economics examinations are a significant milestone, and demonstrate how much of the content you have mastered.

Yet, the complexity of the Economics syllabus can be a demoralizing challenge for many students.

To do well in any exam, we need to rely on discipline, not just motivation.

All top students know that they will not always feel like studying.

Motivation is fickle and can often disappear when your mood changes.

Discipline – on the other hand – means studying even when you don’t feel like it, and even when you do not feel motivated.

Strategic planning and systematic preparation play a formidable role in navigating these hurdles and achieving success in Economics.

There are days when you have to force yourself to do the work you need to. No matter how you feel.

And you have to stick to your schedule, despite everything else that is going on around you.

THERE IS A BETTER WAY TO LEARN ECONOMICS  

Success in Economics exams depends on a combination of factors, from extensive understanding to efficient study methods.

• Try to understand patterns.
  The human mind loves categorising information and looking for relationships between the different things we encounter. This is how our minds make sense of the world around us
• Top students make use this way of thinking when it comes to studying as well
• They look at the bigger picture and they look for patterns in the Economics syllabus that will help them make sense of different – yet interrelated – topics
• Understanding the bigger picture, and how different topics relate to one another, will help you comprehend, memorise, and recall your work better.
• Try understanding the “why”
• It is not enough to just know “how” to solve a problem or approach an exam question, because you are expected to be able to apply the theory that you had learned
• Top students also know “why” you have to do things in a certain way. Understanding “why” will help you gain a deeper understanding of the work. This will then help you to internalise/absorb it more effectively This is particularly true in the field of Economics
• Understanding the theory behind certain things will help you answer unfamiliar questions – not only in your exams, but when you enter the workforce as well.

Adopting a structured study schedule, breaking down the syllabus into manageable sections, and dedicating focused study sessions to each topic significantly enhances comprehension and retention.

TACKLING THE RIGOUR OF ECONOMICS EXAMS  

Economics exams in Singapore are renowned for their depth and complexity, often posing an alarming challenge for students.

The partnership between the Ministry of Education and the University of Cambridge in crafting these examinations based on local requirements and global industry developments in Economics elevates their difficulty level.

Overcoming these challenges demands focused attention, a deep understanding of concepts, and strategic application of knowledge.

IMPORTANCE OF SYSTEMIC STUDYING AND STRATEGIC PREPARATION WITH EXPERT GUIDANCE

Cultivating a habit of regular revision and addressing weak areas play a significant role in mastering Economics.

A proven method to do well in Economics examinations is to have access to an experienced tutor in Singapore who is an expert at systematic studying and who is good at simplifying complex Economics concepts.

You will learn mind mapping, and how to create appropriate notes.

Importantly, you will be equipped with the exact key phrases to use for explanations and answers that fastidious exam markers require.

CHARACTERISTICS OF A GOOD ECONOMICS TUTOR  

One to one Economics tuition at home gives you exclusive attention, and caters to your specific needs and pace. 

This personalized touch fosters an environment where complex topics can be explored comprehensively, ensuring a solid foundation in the subject.

A good Economics home tutor possesses a unique blend of qualifications, an ability to break down intricate theories into digestible components, and effective teaching methodology.

Your Economics tuition teacher has a robust understanding of the content that you want to understand, imparts problem-solving strategies, and instils a sense of curiosity and passion for Economics.

Their dedicated guidance helps you to navigate through the labyrinth of complex Economics concepts.

KEY INSIGHTS

• Singapore’s best tuition agent, with the most qualified and experienced Economics tuition teachers
• Choose from over 4,900 Economics tuition teachers who are MOE teachers/experienced tutors with PhD/Master’s/Bachelor’s/university undergraduates
• Teaching pace and material used are tailored to fit your individual needs
• Full attention of Singapore’s best private tuition teachers
• Correct the misconceptions immediately
• Specialty exam preparation
• Exposing our students to all the types of questions would mean they would never be caught off guard in an exam
• Intensive and methodical learning
• Lessons infused with impactful exam techniques
• Attentive, hardworking, committed Economics family tutors
• We are here to transform confusion and anxiety into clarity and confidence

You can be a top student too!

Don’t think for a second that there is any real difference between you and a top-achieving student when it comes to what you are capable of.

The only thing standing between you and much better marks is working harder, and working smarter.

So if you want to get to the top of your class, and pass your course with distinction, you just have to cultivate better study habits.

Every student wants to do well.

But those with clear goals are the ones who manage to push themselves a bit further each time.

For each semester and each exam, you have to create a realistic goal for yourself regarding the mark you want to achieve. And each goal should be a just little higher than the previous one.

In a world where the pursuit of knowledge and good grades is inevitable, the choice of the right Economics tuition teacher – whether in-person or through online tuition in Singapore – can define the types of grades that you will have over the next 3 months, for your upcoming school assessments, and the national exams.

Effective Economics tuition helps you overcome academic hurdles and is a productive gateway to a deeper understanding and profound appreciation for how economics impacts our lives.