How to write notes in Economics? (1 Viewer)

[Axio]

So I was sitting down at my desk about to write some notes on Economics for prelim half-yearlies and looking through the syllabus I realised that I have no idea how to write notes (or really even study effectively) for Economics.

Some questions I have are:

- Do I just write notes on the 'students learn about' points?
- Do I need know any statistics for the exam?
- Are the notes for each point quite detailed (as I think they would be more detailed than a science)?
- Is there anything else I need to include in my notes?

I would really appreciate some answers. Feel free to post tips to study for Economics (and note - if you'll pardon the pun - that I'm Yr11).

 

[Axio]

Thanks, that was very helpful.

 

[Axio]

I'm trying to say what do I write about the second dot point:

Students learn about:

The nature of economics
- the need for choice by individuals and society

 

[Drifting95]

It would be good to integrate some general trends but i wouldn't worry too much about statistics. By the time you sit the hsc, they would be outdated.

I would recommend having stats for key periods though to highlight trends,such as eco growth during the mining boom, gfc,post gfc etc

Sent from my GT-N7100 using Tapatalk

 

[Axio]

Could anyone please explain this prelim economics dotpoint?

demand and supply
- the effects of changing levels of competition and market power on price and output


Is it that the more competition there is in a market, the lower and more elastic the price and the more total output? Is that right and if so, is there anything more to it than that?

 

[Erinaceous]

I'm trying to say what do I write about the second dot point:

Students learn about:

The nature of economics
- the need for choice by individuals and society

Hey! C: I'm also currently writing my Economics summary. I integrated the first dot point of the nature of economics, " the economic problem – wants, resources, scarcity" with the second dot point "the need for choice by individuals and society" only because i felt the two overlapped alot.

Basically the second dot point is saying that because of our unlimited wants and limited resources + ability to satisfy wants, individuals and society must chose between their wants. And that's basically the economic problem. I left opportunity cost out of my summary notes for the second dot point because
1. Although it relates to wants etc, it's not explicitly mentioned in the dot point
2. The third dot point mentions it, so I can start of with a definition for opportunity cost there

I mentioned the nature of wants in my notes - e.g wants can be complimentary, recurrent etc, just illustrate the point that they are unlimited and have many forms. And because it was in the textbook, but it's kinda common sense too so meh.

The above works for me, but really it's up to you what you decide to put in it Good luck and all the best