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Economics’ exam preparation tip and tricks

Exam preparation tip and tricks for economics

With just over a month to go until your HSC economics exam, your preparation should be starting to reach a point where you have a thorough understanding of the content. By now some of you will be starting to wonder “what more do they want from me in an exam?” or “what more can I do?”. Here are some of the best ways to take you study beyond the theoretical perspectives of textbooks and give HSC markers what they are looking for in your exam.

Statistics are your best friend!

HSC markers love stats, they convey a deeper knowledge of content and an up-to-date perspective on current events. If you haven’t made one yet, a stat sheet is a fantastic way to cement and keep track of your statistics. It also allows you to quickly update them as they change (i.e. RBA moves interest rates) and learn them quickly. MAKE SURE ALL STATS ARE UP TO DATE!!!!!!

You should be aiming to incorporate some current numbers in any short mark questions that are 4 marks or above, as well as throughout your essays. This is one of the easiest ways to quickly pick up those one or two extra marks, as markers can see that you are able to do more than simply regurgitate theory from the textbook. Being able to adapt theory to current and historical economic changes demonstrates a high level of understanding.

Who’s been reading the news?

When was the last time you read or watched the news, especially anything to do with businesses or the economy? If the answer is today, yesterday or the day before then FANTASTIC!!! If not, it’s time to start reading. Being able to use current examples (i.e. Australia has average financial assets of $140,118 person in 2020 [AFR]) is incredibly valuable and easy to link in with essays especially. Reading contemporary economic events is a great way of bringing to life the theory you are studying, making it easier to understand and memorise, especially compared to simply rote-learning your notes.

Practise Practise Practise

It goes without saying that the best way to improve is to use practice questions to hone your skills. Make sure you have completed at least the last 8 HSC past papers as well as any other materials that you have. A good technique is to keep any of the questions you get wrong on flash cards and practice them every few days. There are several apps for you to do this (e.g., ANKI flash cards) or if you prefer to keep it old school then invest in a deck of palm cards.

Your teachers want to help you

Your teachers are your most valuable resource. They have seen this all before and have a wealth of knowledge for you to tap. Ask (politely!) if you can send them essays and short answers for marking and feedback. List the improvements they provide in your palms or flash cards, and use their feedback to benchmark and evaluate your progress.

Talk to you friends

Outside of your teachers, your next best resource is your friends. Make sure you are working together to help everyone go as well as possible because it benefits you all. Find yourself stuck on a question? Text a mate. Unsure about how something works? Give your classmate call. This also gives you an opportunity to have a little break and interact with your mates which is essential to maintain a good mindset over the final few weeks.

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