What does economics actually mean?

It is the study of a branch which deals with the production, consumption and distribution of goods. It also explains human behaviour of making decisions when faced with difficulties. It has both qualitative and quantitative aspects.

Why economics?

A degree in economics will give us a high-level skill in mathematics and statistics as well. Economics is considered a social science as it attempts to explain the behaviour of individuals, groups and organizations. However, it is more likely based on maths and statistics. At the college level, students are required to complete high-level mathematics and statistics in order to pursue a degree in economics further.

Students often find economics a challenging subject especially those in classes 11 and 12 who did not study economics earlier. 

Though economics is a social science, it is as difficult and demanding as any of the more challenging academic subjects, including math, chemistry, etc. To perform well in economics requires time, dedication, and good study habits. The following are study strategies, techniques and habits for success in learning economics.

• It is very difficult to master a subject like economics. So, it is always beneficial to take notes, attend lectures on a daily basis and study activities to enhance our economic vocabulary.
• By knowing the definitions, meaning of different economic-related terms and even participating in a discussion to understand it is a great step towards learning economics.
• Before attending any lecture, we should try to go through the chapter so as to have an idea of what are the concepts to be learnt in that chapter.
• Students should always move ahead topic wise. For example, after reading something on microeconomics, they should move on to some other book to understand microeconomics in greater depths. Then again moving on to a book that teaches macroeconomics is recommended. This way, students will not study only the desired portions and not any disjoint material.
• We should always try to figure out what a specific problem is asking for. Talking about the data needed to answer it and knowing what we are looking for, knowing how to find it and other factors needed for the outcome to be optimal.
• Students should think about what they read and ask questions to themselves.
• They should try to know the various economic models. Looking for figures of the models and reading the captions is necessary. If one doesn't get the idea behind it, then finding the part in the text that describes the model through an example is recommended.
• Students should ensure that they understand all the terms in bold. Most of these terms appear throughout the course.

Tips to score marks in class 12 economics exam

Below are listed some methods to score high marks in board exams of CBSE class 12

• NCERT books should always be the first preference while preparing for board exams. We have attached NCERT Books For Class 12 Economics for reference.
• Students should always draw graphs whenever required. 
• Following a pattern is very important. If a student starts with answering from the long question part then he/she should complete the entire section and then only move to the next section. Similarly, if one starts with short questions then completing that section and moving to the next is recommended.
• Highlighting the important points and writing them down is very beneficial.
• Before writing down the answers, it is important to read the question paper thoroughly to have an idea about the pattern of questions, marks distribution, etc.
• Students are advised to gather all the subject related notes that have been held by them so far, the practice registers that have been with the students throughout the year during homework, classes, and important formula sheets of the subject and then they should start their revision.
• Solving the examination papers of past years is extremely important if one wants to gain confidence for the D-day in the examination hall.
• Solving the previous year papers by creating a real-time exam scenario is extremely beneficial. Therefore, it is recommended to set a time of 3 hours before attempting any paper to solve.
• Sample papers are important to secure maximum marks in the economics board exam because these papers help students evaluate where they stand and what needs to be taken care of in terms of subject knowledge and level of understanding.
• Clearing the concepts instead of just reading and mugging up is important to score good marks. Once understood, students can write them without any difficulties.
• Students should purchase the previous year question papers for up to 6 years to get familiar with the pattern of the question paper. It will also boost up confidence and avoid any kind of nervousness or panic attacks.
• Numericals are 100% scoring topics. In order to secure full marks in numerical, one must practice numerical problems daily. 
• One should start focusing more on case-based questions. CBSE has increased the percentage of case-based questions by up to 20%. So the students need to build a better base on case base questions by not just mugging concepts but by being thorough with each and everything.
• One cannot master economics by studying just one single day. To do better in any subject one must give time to it daily. Therefore, at least one hour every day should be dedicated to economics. It will also help in building a strong concept.

Economics is not really a tough subject. It just needs a little practice and a thorough concept. To do well in economics, one must develop a deep understanding of economic theories, developments in the field, and applied math. To ace economics classes, taking good notes, forming a study group, and asking for assistance when necessary is important.

Also, the right study material and the right books always play a key role while learning. Therefore, one should ensure that the material they are using contains only the required information and no dragging of topics and concepts. This way, one can fall in love with economics and master it very quickly.