What is Economics? Will I suit it?

[inspired]

Hi guys,

At course conf I put down economics because i didnt like the other options (accounting, legal, geo etc). i didn't know i was going to be into a position where i'd have to choose economics because i dont even know what it is. I read the study design now and it seems quite interesting. Correct me if im wrong, but is it primarily the study of micro/macro economics? will doing economics help me later on? idm the subject tbh, and it seems quite interesting, but im worried for the work load and what we do in economics.

So if anyone could clarify to me the following questions i will buy krispy kreme <3 <3 (i will really appreciate ur help lol)
- What sort of stuff do you cover in economics U1, 2, 3, 4? A brief sentence or two will do good
- What's the work load like?
- Is it a bulgy subject where things seem tedious?
- what's ur exp been like doing economics?

Thanks so much all!! This forum has really helped me a lot already and i do really appreciate the hard work people put into developing a nice community like this

I'm just too lazy and tired to type correctly atm, so i will fix this up later haha :s

[abcdqdxD]

Hi guys,

At course conf I put down economics because i didnt like the other options (accounting, legal, geo etc). i didn't know i was going to be into a position where i'd have to choose economics because i dont even know what it is. I read the study design now and it seems quite interesting. Correct me if im wrong, but is it primarily the study of micro/macro economics? will doing economics help me later on? idm the subject tbh, and it seems quite interesting, but im worried for the work load and what we do in economics.

So if anyone could clarify to me the following questions i will buy krispy kreme <3 <3 (i will really appreciate ur help lol)
- What sort of stuff do you cover in economics U1, 2, 3, 4? A brief sentence or two will do good
- What's the work load like?
- Is it a bulgy subject where things seem tedious?
- what's ur exp been like doing economics?

Thanks so much all!! This forum has really helped me a lot already and i do really appreciate the hard work people put into developing a nice community like this

I'm just too lazy and tired to type correctly atm, so i will fix this up later haha :s

In Economics, you study Microeconomics (individual markets - e.g. the market for ice cream or the mining industry) and Macroeconomics (Australia's economy as a whole - e.g. interest rates and the budget).

Work load in this subject is as heavy or light as you make of it. In unit 1/2 the workload was almost non-existent, however it steps up a bit in 3/4.

It's not tedious if you enjoy the subject, this will depend on the individual.

I thought it was a good subject, really changes the way you think.

[sam.utute]

Best subject in VCE because it will equip you to tackle some big life issues later on (buying/selling property, investing in the share market, understanding the budget etc.).

Cannot recommend it enough (it should be compulsory IMO - too many economically illiterate people in Australia).

[Sense]

Has anyone done this subject without 1/2? Is it doable?

[Jono_CP]

Has anyone done this subject without 1/2? Is it doable?

I have not, but I'd say that 1/2 would provide a slight advantage in terms of concepts which you go over again (not all) and more so the 'language' of the subject. E.g. using words such as 'appreciation', 'depreciation' 'aggregate demand' 'aggregate supply' 'production possibility frontier' and so on.

That is not to scare you or anything, just a means of highlighting the variation of terminology which is quite important in this subject but is obviously taught in 3/4.

Just my class, a couple who haven't done 1/2 are in the bottom echelon of the class but these are not necessarily committed individuals. Another individual who hasn't done 1/2, is a genius and showed up quite a few students in our class which was a little bit of a shock. At the same time, he also put quite a lot of effort into it.

If you have an interest in the subject, that is helpful. It is not an overly hard subject, but I think a subject like this whilst important, requires consideration.

[Politics]

Has anyone done this subject without 1/2? Is it doable?

I myself took on 3/4 without 1/2 and it took me a while to come to that decision as it is quite a big risk, however thus far it has payed of tremendously. What i would personally recommend doing is starting Unit 3 (or in my case, went quickly through 1/2 using someone's old book) as soon as Year 11 finishes and get your head around some of the key topics as when you start Unit 3, it is just expanding on things learnt in Unit 1/2.
I find economics to be all about hard work, if you work hard and you work 'right', you will do well, to put it into perspective out of the top 3 students rank 1 (myself ) and rank 3 did not do 1/2, so it is definitely possible, you just need to put in the work. However, in the same token a couple really lazy students picked it up for the first time and due to their lack of work have fell massively behind and are sitting on the bottom, so as long as you work hard and put in the effort, you will be right.