Organise your study of Economics
In our economics tuition, we will be covering the following chapters for Microeconomics and Macroeconomics.
1. Central Economic Problem
2. Price Elasticity of Demand and Supply
3. Income and Cross Elasticity of Demand and Supply
4. Cost of Production
5. Market Structures
6. Market Failures
1. AS-AD Models and National Income Determination
2. Economic Growth
4. Aims of Government and Macroeconomic Policies
5. Balance of Payment
6. International Trade
7. Foreign Exchange
Organize your study of Microeconomics and Macroeconomics chapters
Given the broad and in-depth content of Economics, it may be perceived as an uphill task to remember and comprehend the content. This necessitates a need to separate the content into specific chapters to help you to compartmentalise Economics knowledge before shifting towards a more exam-driven preparation. Such approach aims to cover the various chapters separately to promote an ease of understanding in you.
Identify and explain the economic definitions
As part of the examination requirement, you are expected to include key terms that will support your answers. These economic terms are important as they hold significance in the explanation and interpretation of economic issues. Therefore, every topical teaching lesson will feature a list of economic definitions which you will learn to explain the meaning of these terms concisely.
Understand economic mechanisms and concepts
Following the comprehension of economic terms, you should learn to explain the economic concepts and impacts. Our topical teaching lessons will guide you through the comprehension process by engaging in class discussions. You will explore the underlying determinants and factors that give rise to the economic conditions and learn to arrange the explanations into structured paragraphs.
Develop analytical thinking skills
To apply your knowledge of Economics to questions, it is also important for you to develop an analytical mind. This means that you are expected to approach economic issues from multiple perspectives and observe the interaction of factors based on the given circumstances. For example, you will learn to evaluate the effectiveness of macroeconomic policies in reducing unemployment in a small and open economy, like Singapore. The evaluation process requires an understanding of the policy mechanism and its implications.
Integrate your knowledge for exam questions
Once you have attained a basic understanding of Economics and its relevant concepts, you should integrate your knowledge from various chapters to tackle examination questions. This consolidation of knowledge should not be ignored as it reinforces conceptual understanding and adapts your knowledge of independent chapters to examination questions. Most importantly, the process of knowledge integration is achieved through extensive practice, rather than mere reading. As such, our class activities will feature practice sessions to assess your understanding of economic issues and concepts.