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10 life hacks on economics from the winner of the Olympiad

1. Strive to develop in yourself "economic intuition". When solving problems, think about the meaningful meaning of the results you get. Even the simplest economic models often allow us to look at various phenomena from everyday life from a new angle.

2. Read not only textbooks, but also popular science economic literature. A general acquaintance with major scientific results will improve the understanding of the discipline as a whole. Understanding the open questions that economists are working on today will help to discern the ultimate goal behind the study of school theory.

3. Invest your time in learning math. It is almost impossible to do without mathematics in modern economic theory. Fluency in basic mathematical tools helps to perform well at the Olympiad. Mathematics develops analytical and structural thinking, instills the necessary rigor of reasoning and generally trains the brain. Mathematics is an important (but by no means determinant!) Component of a successful performance.

4. Do not rewrite ready-made formulas from textbooks thoughtlessly. To use formulas competently, you need to understand their meaning, which often involves the ability to derive them yourself. Many Olympiad problems are designed precisely with the goal of separating those who can only reproduce formulas from those who really understand what is going on. To better understand the problem - ask someone to explain it, for example - a professional in solving economic problem https://essayassistant.org/economics-help/ .

5. The correct answer to the tasks of the test part can sometimes be obtained without special theoretical knowledge, that is, simply from general or intuitive considerations. Do not be intimidated by unfamiliar terms and long texts - try to grasp the essence of the question and only then evaluate its complexity.

6. In problems with short and detailed answers, draw graphs whenever possible. Often in the picture you can see what can be hidden with dry algebraic writing. Do not forget about the geometric interpretation of some formulas. Also, a picture is often a great way to test your answer.

7. Always test your answer in quantitative problems in different ways. An intuitive check takes the least time: is the answer reasonable given the input data from the condition? If you have time, look for other simple criteria that can dismiss a knowingly incorrect result.

8. Try to make life easier for the examiners. Usually, there is no time to solve everything on the draft, so as soon as you understand the general scheme of the solution, write directly to the draft copy. Separate strikethroughs from solutions carefully; Number sheets and pieces of tasks so that the other person can easily find them. If you received an answer, be sure to write it down separately or, at worst, highlight it in bold in a frame. Write succinctly but coherently; replace words with synonymous mathematical symbols whenever possible. To prepare for this and not fail in the future, you should apply for an essay writing help , where people will help you become better at understanding economic schemes.

9. Don't worry about your scores. The most important thing is your interest in the subject. Often, outstanding economists were people with a first education in a completely different field.

10. If you do not know how to prepare for the Olympiads in economics, all the necessary resources - tasks, olympiads of the past, books to read - are collected on the ILoveEconomics (ILE) resource . A competent selection of literature has been collected on TheQuestion . For the development of mathematical skills necessary proreshivat unusual problems: many of these collected about on variou s sites .





Topic revision: r1 - 2021-06-27 - JaydenSanchez
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