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| | * 10%: The basics (defining economics, also scarcity and opportunity cost) | | * 10%: The basics (defining economics, also scarcity and opportunity cost) |
| | * 20%: Supply and demand | | * 20%: Supply and demand |
| − | * 15%: Elasticity, also utility, indifference curves | + | * 15%: Elasticity |
| | + | * 15%: Utility, indifference curves |
| | * 15%: Decisions by a firm (cost measures, marginal product) | | * 15%: Decisions by a firm (cost measures, marginal product) |
| | * 15%: Short and long run, returns to scale | | * 15%: Short and long run, returns to scale |
| − | * 10%: Miscellaneous, such as charity | + | * 5%: Consumer surplus |
| | + | * 5%: efficiency, transaction costs, Coase theorem, miscellaneous |
| | | | |
| − | <discuss test-taking tips>
| + | On any multiple choice exam, you can improve your score significantly by improving your test-taking skills. This includes: |
| | + | |
| | + | *reading the question carefully, and rereading if necessary; never miss a question due to misreading it |
| | + | *eliminating incorrect answers before choosing the correct one |
| | + | *not leaving any questions unanswered if no points are deducted for wrong answers (neither the CLEP exam nor my exams deduct for wrong answers) |
| | + | *preferring answers that are worded in a way that fits the question as a key fits a lock |
| | + | *disfavoring answers that have sweeping or broad terms in them, like ALWAYS and NEVER |
| | + | *avoiding changing answers away from your first impression, unless you have a good reason to do so. |
| | + | |
| | + | Many questions on a multiple-choice exam can be answered correctly even though you didn't know the right answer beforehand, if you follow the above test-taking skills. One of my former students was told he would not have to take a particular exam in college, and he did not study for it, but was then surprised when the teacher made him take it anyway. Using these test-taking skills that he learned in my courses, he obtained the highest score -- higher than many students who studied many hours for the exam. |
| | | | |
| | == More == | | == More == |