Six Easy Ways to Raise Your Scores on Economics Exams
 
 

1.  Hit the right button.  The answer to a question might be words, numbers, equations, or a diagram.  Students who do not know the answer often panic and resort to words, making it obvious that they have the wrong answer.  In economics, the right answer  is usually a diagram.

2.  Draw big diagrams.  Your instructor draws big diagrams and talks loudly in part to accommodate students in the back rows, but also to establish authority.  If you draw a postage stamp sized diagram, you are signaling that you have no confidence in your answer.  Get a ruler and practice drawing diagrams that are four inches wide and four inches high.

3.  Do not use a #3 pencil.  Instructors get annoyed if they have to hold exams up to a strong light to try to see the answer.  Either use a dark pencil or be bold and use a pen.  Never erase and redraw to the point that you have a mess.
  4.  Label all axes and curves.  Make sure every axis and every curve has a label.  This habit gets you points on the exam and makes it easier for you to understand and remember the diagram.

5.  Which way did it go?  In your notes, you often have a diagram that captures movement.  While you were copying the diagram from the chalkboard, your instructor was probably explaining the movement verbally.  Because you do not get to explain your answer verbally, make sure you add a few words to explain that "the equilibrium shifts from A to B."

6.  EconModel.  EconModel helps you learn to draw diagrams.   Working through some or all of the 16 models in the Classic Economic Models collection for EconModel will help you learn to think like an economist.

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