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
- In the A levels, candidates are required to complete three essays worth 25 marks each in a span of 2h 15min.
- 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.
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.