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Economics prelim head start (1 Viewer)

Simorgh

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Is there anyway to start studying Economics, I find it really interesting and useful but I just don't much of the content and basics involved in it? Not many people in my grade know a lot about Eco, most are doing just because they did commerce and found it really easy also becoz it scales quite well. So I really want to master it before I go school and have a good head start.

Any good books or websites good at explaining the basics and most of the content? Or can someone explain all the main stuff like a summary of things about Economics? I am really unsure at the moment about Economics..
 

greg_louk

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Since Economics involves significantly different content compared to Year 10 Commerce, there isn't really that much you can do to prepare beforehand, since the Prelim content will be completely new. That being said, before going into Year 11 I took a quick browse through my textbook, in particular Chapter 1: What is economics about? (from Tim Dixon's book). This should give you a good orientation of what you'll be starting out with in the course, and a quick browse through your textbook should give you an idea of what's in store next year.

Have a look through the Economics syllabus also, in particular the Preliminary Course description. That will direct your study next year, and give you an overview of the course.

Other than that, I wouldn't suggest you can do much else as the later content will be unfamiliar. However, if you want a head start just read through the first one or two chapters to orient yourself. When you go back to school next year, you'll be introduced to the content at least, giving you a good head start over those who haven't looked at the content yet.

The Prelim course essentially takes a microeconomic focus of Economics, meaning each topic looks at a different feature/component of the economy and the role it plays in the whole economy. After being introduced to features like the PPF, business cycle, circular flow of income, product/factor markets etc, you'll learn about the role consumers/businesses play in the modern market economy. Then you'll examine how supply and demand work to create a functioning economic market, looking at financial and labour markets in detail. To end the course, you'll study the role the Government plays by intervening in, and regulating, the economy.

This is just a brief summary of the course, and in time you'll learn all of these features (and more), becoming a proficient student of Economics. It seems like you have the passion and drive to succeed, so if you can apply these attributes to your study of Economics I'm sure you'll do well. Apart from a brief reading of your textbook and possibly some online sites, you don't really need to prepare too much before starting the course. You'll be introduced to the content when you return next year anyway. Good luck with your Preliminary studies!
 

Simorgh

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Since Economics involves significantly different content compared to Year 10 Commerce, there isn't really that much you can do to prepare beforehand, since the Prelim content will be completely new. That being said, before going into Year 11 I took a quick browse through my textbook, in particular Chapter 1: What is economics about? (from Tim Dixon's book). This should give you a good orientation of what you'll be starting out with in the course, and a quick browse through your textbook should give you an idea of what's in store next year.

Have a look through the Economics syllabus also, in particular the Preliminary Course description. That will direct your study next year, and give you an overview of the course.

Other than that, I wouldn't suggest you can do much else as the later content will be unfamiliar. However, if you want a head start just read through the first one or two chapters to orient yourself. When you go back to school next year, you'll be introduced to the content at least, giving you a good head start over those who haven't looked at the content yet.

The Prelim course essentially takes a microeconomic focus of Economics, meaning each topic looks at a different feature/component of the economy and the role it plays in the whole economy. After being introduced to features like the PPF, business cycle, circular flow of income, product/factor markets etc, you'll learn about the role consumers/businesses play in the modern market economy. Then you'll examine how supply and demand work to create a functioning economic market, looking at financial and labour markets in detail. To end the course, you'll study the role the Government plays by intervening in, and regulating, the economy.

This is just a brief summary of the course, and in time you'll learn all of these features (and more), becoming a proficient student of Economics. It seems like you have the passion and drive to succeed, so if you can apply these attributes to your study of Economics I'm sure you'll do well. Apart from a brief reading of your textbook and possibly some online sites, you don't really need to prepare too much before starting the course. You'll be introduced to the content when you return next year anyway. Good luck with your Preliminary studies!
Oh man thanks, this is in no doubt really helpful information! Economics seemed all but just really mysterious and didn't really know what awaited me in the course! All I have been hearing from some people is that you have really apply yourself and be good critical thinker in Economics. Its quite an interesting and useful subject, look forward to starting it this year.
 

Zoinked

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If this helps, find about the following issues/topics which are what most of the economics syllabus and course circles around:

*Inflation
*Economic Growth and Development
*Unemployment
*External Stability
*Distribution of Income and Wealth

Virtually the entire syllabus revolves around this. I just completed my economics course and it was by far my favourite subject, I did fairly well so im up for a chat if you need it.

Edit: To Truly do well in this course I recommend subscribing to a various economics magazines or at least follow the economics section of Sydney Morning Herald etc. Learning about the current issues at hand will help you understand how or why the economy is taking a certain shape in Australia and worldwide.
 
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