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Economics and Management

Professor Manu Raghav / Tips on Doing Well in Introduction to Economics

We are not in Kansas anymore:  Don’t rely on intuition or common sense to know the answers in Introduction to Economics course. Economics has very precise definitions of terms and “buzzwords,” which economists like to call “jargon” or “jargon words.” More often than not, these jargon words do not correspond to the usage of them in plain English. An example of that would be the word “demand.”

Practice maketh a person perfect:  Practice, practice, practice -- practice the graphs and problems covered in class, in homework assignments, quizzes, etc. There are no shortcuts to success.

Early bird catches the worm:  Get started on preparing for exams and other assignments well before the day of the assignment. Learning is a bit like going to gym. An excessive amount in the last minute is unlikely to help. What will be helpful will be moderate amount of exertion/studying over a long period of time.

Rules and exceptions apply, check the fine print:  Work hard but also work smart. Abraham Lincoln said that if he has seven hours to chop a tree, he will sharpen his ax in the first six hours. Learn the particular tips and tricks of the trade you are in (for you it is studying and learning).

Winners never quit and quitters never win: Perseverance, spirit, and faith may be needed to keep going despite discouragements. There is light at the end of the tunnel.

If the shoe fits…:  If you do well in Introduction to Economics and like it, consider taking another economics course such as Intermediate Microeconomics. If you still do well and like economics, consider becoming an economics major. This world needs more good economists.