JC Economics: The Beginner’s Guide For New Students (2023)
Thinking of taking up Economics in JC? Orientation has just ended and after having gone through the dilemma of school choices, you are faced with another conundrum –
- “What subject combination should I choose?”
- “What is Economics in JC about?”
- “Should I study Economics in JC?”
You may have heard stories of Econs being “dreadful”. It is an entirely new topic for everyone in the cohort. Therefore, allow us to give you a snippet of what entails Economics in JC using this acronym, CAST!
Economics is the study of individual behaviour
As a consumer, how would you react to an increase in the price of an iPhone? Do you like Steve Jobs’s products so much that you would stick to iPhone no matter what? (Topic: Price Elasticity) Or would you switch to a Samsung? (Topic: Demand & Supply)
Economics is the study of firm behaviour
Imagine yourself as Tim Cook, the CEO of Apple. So, what kind of pricing / non-pricing strategy will you adopt? Will lowering the price of your products be able to wrestle back market share from Samsung? Or will you start developing new products like Apple Watch to fight Samsung? (Topic: Market Structure/Oligopoly)
Economics is the study of organisation behaviour
Imagine yourself as the next Prime Minister of Singapore. What policies will you implement to regulate traffic jams? (Topic: Market Failure/Negative Externality) To regulate rising property prices? (Topic: Fiscal Policy/Tax)
The above are some of the topics in the Economics syllabus. Therefore, if you choose to take Economics, you’ll get to learn much more! Moving on, many of you might wonder how Econs is being tested in the A Levels.
Scheme of Assessment
For the H2s, you will have both the essay and case study questions (CSQs). On the other hand, the H1s only have CSQ to worry about.
In the A levels, candidates are required to complete three essays worth 25 marks each in a span of 2h 30min.
The crux of this component is to test your content and critical thinking skills. Additionally, time is very limited as well. Students have to think on their feet quickly and should be familiar with content by the A levels!
Case Study Questions
Candidates will be given case studies. Based on the abstracts provided, they would have to answer short answer questions relating to Economics.
The vital point of this component is to test your application skills and exam answering techniques. For this component, you too should be very efficient in content retrieval.
In the A levels, H2 candidates are required to complete two CSQs worth 30 marks each in a span of 2hr 30mins while H1 candidates are required to complete two CSQs worth 40 marks each in a span of 3hr.
So, does this interest you? But why is does JC Econs seem so tough?
Your seniors are struggling with Econs because of the following reasons:
Many of them are likely to be actively engaged in CCA and have difficulties juggling extracurriculars and academics.
Things get even more complicated if they are in a BGR (not recommended). However, this can be easily overcome by planning your study / CCA / date schedule well!
Poor quality of lecturers and tutors
Many ex-students have mentioned that they don’t understand what is happening in school. This problem can be easily overcome by putting in some effort to self-study.
However, considering hectic school life, if you still face difficulties understanding Economics concepts, you can approach me to help you too.
So, don’t let your senior’s “advice” affect your decision. Learning Economics is fun. Upon hearing the awesomeness of it, here’s to taking a step to learning more on markets and economies!
After this, your next tough decision is whether to pick H1 or H2 econs, which will be addressed separately! While we leave you to contemplate, we wish you all the best in JC! Meanwhile, you can refer to our other guides to Econs in JC here.
Want to Build Your Confidence In H1/H2 Economics? Enrol in Our JC Economics Tuition Classes Today!
We condition you to ace your A Levels through our weekly timed practices. There will also be a month-end lecture test to condition you properly for the year-end national exams.
We nurture your confidence and reignite your passion for Econs through our interactive sessions and show you how it is still possible to ace your econs despite your initial setbacks in school.
Summarised notes and succinct explanations would allow you to gain clarity and focus without being overwhelmed. All submissions would be graded with detailed feedback given by Mr Teo to strengthen your concepts and foundation.
Frequently Asked Questions
JC Econs exposes students to the principles of economic thinking and analysis. This challenging subject demands critical thinking in areas such as economic growth, inflation, and unemployment, along with local concerns and contemporary economic trends.
By delving into these diverse subjects, students acquire an understanding of government economic decision-making and strategies. Studying this subject cultivates valuable competencies for those drawn to business or finance, preparing them to assume economic management roles in their future professional endeavours.
If you would like to get a headstart in JC Econs, we invite you to enrol in our online economics tuition centre here.
Economics in JC presents a challenging learning curve since it is not a subject taught in secondary school, unlike math and science. The introduction of diagram drawing adds complexity for students, who may struggle to determine when and how to incorporate diagrams into their explanations.
While the majority of students grasp economic concepts with relative ease, they frequently encounter difficulties in applying these concepts during exams. This often leads to unrefined answers or responses that fail to address the question directly.
If you’re worried about struggling with economics in JC, it’s never too early to seek help. At Ace Your Econs, we can help you establish good learning foundations and become exam-ready. Learn more about our H1 and H2 econs tuition
Economics is generally considered a good degree in Singapore, as it offers transferable skills in data analysis, critical thinking, and problem solving. Graduates with an economics degree can pursue various roles, such as financial analysts, investment bankers, or policy advisors. These positions often come with opportunities for career advancement and competitive salaries.