1. Prepare
the checklist. List out all the possible topics that need to be covered within
these three months. Those thick Economics bibles on your table or shelf can be
a good starting point. Well, in case if you are ‘anti-textbooks’, there is also
another alternative. Click on the link below. They will lead you to my Unit 1
list of definitions. Use those jargons to guide you on the topics that need to
be prepared. Watch out for some difficult topics. For instance, I find that
students usually struggle when it comes to PPF (production possibility
frontier). Many are unable to explain why a PPF can shift inward or outward and
how is this related to a nation’s AS (aggregate supply). Also, few can explain
why when economic resources are not fully utilised, there will be no
opportunity cost involved when both goods are simultaneously increased. Pay
extra attention to topics under the market failure particularly externalities.
Make sure that you are able to define, give examples, draw the cost-benefit
diagram and evaluate measures used to solve those problems. Equally, improve
your understandings on how minimum price and buffet stock schemes work.
Nonetheless, each student is unique. Some may face more problems than the
others for the same topic discussed and therefore time allocation is somewhat
subjective and I will not guide much on that. The bottom line is, somehow you
need to juggle between the quantity (time) and quality (revision techniques)
devoted for each topic
2. Choosing
the right revision materials. Textbooks and those thick-illustrated revision
materials are always good to look at but may not be your best companions. It is
near impossible for you to digest so much information and yet there is so little
time. I personally dislike textbooks. They are long winded and most of them are
not student-friendly. Simple topics are often extended ‘unnecessarily’ just for
the sake of making the book looks thick. They are pretty much the same like the
Economist where events that can be told in one page are made more complicated
than what they actually are with long dwindling passages. I will prefer if you
use the notes/ slides/ case studies given to you by your lecturer and
complement it with topical revision sheets from http://www.tutor2u.net/economics/revision-notes/index.html
. As for extra read up, you may go to http://www.bbc.co.uk/news/business/.
3. Get
ready the past year questions. One of the first few topics in Unit 1 is
specialisation and that is exactly how you should apply Economics principle
into action. Practice not by papers BUT by questions. For instance, if you have
finished revising the topic on PPF and opportunity cost then you should focus
on MCQ questions pertaining to these two topics before you move on. Practice by
specialisation will give you an upper hand advantage over those who do not.
First, you can see that those questions will always repeat themselves in a
similar way. Second, you will know how popular and how frequently they are
tested and last but not least, you will ultimately master the answering
techniques. It is not true that students need to write long-winded explanations
to secure marks. Sometimes by exhibiting a diagram or simple calculation using
your own numerical examples will give you an edge. You use lesser time and yet achieve
the same marks as your friends
The
same goes for Section B which is the Data Response. Practice by case studies.
For instance, attempt all Extracts that are related to congestion before I move
on to other issues such as healthcare, education, smoking, air pollution,
housing market, labour market and commodities. Chances are, you will understand
the nature of the questions better than anyone else because you specialise. So
next time, in January 2013, once you get the paper and the heading says ‘Worsening
Congestion in London by 2015’, I dare to bet that you can see more or less what
is coming your way! Expect definitions of private cost and external cost,
cost-benefit diagram, proposing methods to reduce congestions and their
respective evaluations, income and cross elasticity of demand and others
4. Be
more inquisitive. Students who participate in a two-ways communication with
their lecturers tend to do better than those who do not. Be more ‘provocative’
and interrogative. You cannot accept answers or explanations just like that.
You need to ‘challenge’ the statements to a certain extent. Ask intelligent
questions like HOW, WHY and WHAT. When you ask questions, your mind is doing
all the critical thinking process. It is a proof to you and your teacher that
you are actually learning and picking up. You need to do your part here as the
teacher had done his. Do not assume that you had understood and please
eliminate the ‘I-think-I-can-understand’ mindset. They need to be 101% solid.
Even if you have the slightest doubt, please raise and bring it to your
lecturer’s attention. Many fail to understand that learning by asking is a
faster way to progress than the traditional method of reading-and-memorising.
The former has another advantage. You tend to retain your memory longer once
you understand a particular topic but if you memorise, you can retain it for
just hours