As it is commonly known, economics is the queen of social sciences. The combination of sociology, math, history, and statistics makes it the hottest cocktail for students who like it all. Despite so, most economic theories can get complicated, confusing, and difficult for learners to comprehend.
A study suggests that a significant number of participants struggle with economics homework because of common factors such as the lack of mathematical and statistical skills, memorizing theories without understanding the concepts, and the inability to apply economic concepts in certain situations. It’s no surprise that such students turn to subject-specific professionals for guidance. Online tutors can help you with economics essay writing and offer one-to-one support to master complex theories.
Even though online tutors are easily available to help you learn the difficult chapters, it’s important to identify the primary challenges students endure while learning the subject. Below, we have listed the common issues economics students have faced throughout the decade. That way, you can be aware of the possible obstacles and do the needful to improve your performance in the subject.
Issue 1: Economics Theories Are Easy To Get Lost In
Mastering theories is the first problem students will likely encounter while learning economics. College professors are mostly in a rush to complete the syllabus and have limited time to explain each theory in a simplified form. Numerous students find no logic in using different approaches and have no sense of how these theories are used in regular life despite being called ‘everyday science.’
The reason is simple: each economics theory is based on certain assumptions to make it work. You will find that every theory has its exceptions and criticisms, often creating unrealistic scenarios and leaving you confused.
The solution to this problem is to learn theories with real-life examples. These days, tutors use realistic examples to explain economic theories and their practical implications to simplify the concepts for students’ quick understanding.
Issue 2: Graphs Are a Major Pain Point for Economics Students
In economics, graphs and charts illustrate various concepts and theories and make learning accessible. However, recent survey reports suggest that students find it difficult to analyze an economic graph, let alone draft a new one independently.
One of the first graphs you have to work on when studying economics is the supply and demand graph. You need to know when the curve shifts and where, the equilibrium price and quantity, the type of market you are dealing with, and so on. You won’t be able to answer these questions if you don’t know how to analyze a graph and draw one from scratch.
Hence, the solution to this problem is to get personalized help from subject matter specialists. Top-ranked tutors regularly teach students to understand different types of graphs, their purpose, and ways to draw them. They explain the concepts behind each draft and use different curves to explain their relationship. The tutors acknowledge that analyzing graphs is difficult as it is, so they use simplified teaching methods for students’ benefit.
Issue 3: Microeconomics Is Way More Difficult Than You Realize
Microeconomics and macroeconomics are two critical branches of economics with numerous agents. While it may seem simple, there’s more to it than only consumers and producers. The branch also focuses on the issues of supply and demand, market structures, elasticity, taxes, and public policies. Although macroeconomics is broader than microeconomics, both branches have too many different agents to confuse students.
Students nowadays don’t underestimate the complexities of microeconomics and give it their all to improve their knowledge of the subject. Since microeconomics and macroeconomics are interrelated, they don’t hesitate to approach tutors for help to understand every concept of the subject. On the other hand, tutors explain every concept in detail and simple terms so students like you can grasp the main idea behind each concept instead of mindlessly memorizing the theories.
Issue 4: Multiple Agents to Keep Track Of In Macroeconomics
Macroeconomics is wider and offers more scope than microeconomics. Yet, reports suggest that the vast variety of theories is a serious issue that leaves students puzzled and pushes them to seek additional support.
For example, in microeconomics, saving is the opposite of consumption, while it is the opposite of spending in real life. However, banks buying stocks is an investment, not a consumption. This mere concept will confuse even the best students. Another issue students encounter while studying macroeconomics is identifying how the economics agents interact and draw conclusions. The study of central banks engaging in monetary and fiscal policies to influence financial agents is an example of how complex an interaction can get.
The good thing is students in 2023 can seek assistance from professional subject matter experts. The tutors know the key essentials to learning the subject and develop suitable strategies to ensure all students understand the complex theories, concepts, and interactions between agents. Furthermore, you are safe from hours of pointless browsing and getting confused with random guidelines. The tutors offer hand-held guidance to make macroeconomic equations easier to solve.
Issue 5: Difficulty In Solving Complex Mathematical Equations
Mathematics – just the word is enough to make students shudder in their shoes. Even if you share a love-hate relationship with mathematics, you cannot ignore the subject, especially if you are majoring in economics. Both branches of economics are heavily based on mathematical calculations from arithmetics, calculus, economic models, and statistics, to name a few. For instance, algebra is used for evaluating total revenue and profit, while calculus is used for determining growth models and profit maximization curves.
Besides mathematical calculations, multiple survey reports suggest that students dread calculations involving taxes and stock estimates. Primarily because they lack a clear knowledge of the formulas, their meanings, and how the models work, such intricacies often trigger fear of the subject, and students struggle to pass their exams.
An in-depth explanation of the theories is the best way to fill the learning gap. More and more students are tilted towards getting professional assistance to master the use of mathematical formulas in economics. These professional tutors from top-ranked academic platforms are attentive and give extensive focus on explaining each element of the economics formulas. They explain why and how the formulas are used instead of just interpreting the outcome. That way, you learn and gain the confidence to tackle each task.
Economics is a popular subject, thanks to the career opportunities the discipline has in store for its students. However, before you enjoy a successful career, you must master the subject and make yourself well deserving of the opportunities. Considering the complexities, getting high grades in economics will be almost impossible if you don’t develop a detailed knowledge of the economics concepts and theories to solve each task precisely.
Fortunately, you have highly qualified economics tutors to help you overcome all your learning challenges. They are the best solution to all your economics problems as they are experienced and have the skills to help you learn effectively, get better grades, and stay on par with your subject needs. Only sure to do diligent research to find the best help for the best outcome.
Cheers, and Good luck!