- Get exposure to many different types of questions and try to understand what each one requires.
- Thinking about how Economics is relevant to the real world. For example, why might some market structures be more suitable for certain industries? (in the sense that the outcomes are desirable to society.) Or for Macro — how does the US raising interest rates affect Singapore? How does the change in price of oil affect global trade and growth?
- Practice. Writing fast and also thinking fast.
- Learn how to critique your own work. Try peer assessment. Get your hands on good answer keys but don’t abuse them (i.e. don’t memorise full answers.)
- Choose the question wisely. I like to avoid 25 marks because they are less scaffolded. Also, just pick the ones you can answer, not the hard ones.
when the govt executes subsidised vaccination, it puts the price at say $5. Is it a form of price control or direct subsidy on consumption? Same for subsidised rice.
When income increases, do both demand and ped of a good change?
I made a video response to the question. The answer may surprise you.
Blog visitor Nicholas K. asked…
I have been cepted by economics to become econocepted. My dream is to make money for studying. You give me money, I give you grades & love. I also got 2$ how to make 5$.