Tips and Tricks To Get 90+ Marks in Economics in CA Foundation

  • 20 Jun 2022

Economics is a subject that focuses on the skills of individuals in the market as consumers and producers, as well as how to solve their problems.

The ICAI has included Business Economics in the CA Foundation Test Series with the goal of offering Chartered Accountants, who are more than accountants or editors in the business world, a competitive advantage.

ICAI Study Material: Students don't place enough emphasis on the ICAI study materials. The topics are covered in depth in the ICAI journals and textbooks. These must be read several times in order to fully understand the topics and theories covered. This will assist you in successfully answering the questions. An all-encompassing answer will earn you extra marks on the exam. Make it a habit to study the ICAI's contents.

Understand the Relationships: You may already be aware that each chapter in business economics is interconnected. Consider drawing a relationship map to show the relationships between the concepts. As a result, you'll have a firm grasp on the fundamentals. Refer to the maps you made and memorize the relationships between the ideas and principles mentioned in each. You will be able to envision it while answering the questions if you continuously consider the points, which will benefit you in delivering the answers point by point.

Real-Life Scenarios: You're learning about financial concepts and company economics. The challenges, problems, and solutions mentioned will, of course, have a direct impact on life. Consider a real-life scenario in which you are studying a specific subject. As you link the material to real-life scenarios, the subject will become clearer.

Examine previous year question papers: Every competitive exam requires you to practise old questions. However, in the case of the CA Foundation course's Business Economics test, you should not only practise the question papers, but also analyze them to learn about the question patterns and significant subjects. Exploring the suggested solutions to prior year's questions might help you understand and prepare for the major themes required from the descriptive answers.

Note the Crucial Topics: While you must provide a full response to the questions, you must not overlook the important points. While answering, make sure to emphasize the most important points. The important points should not be overshadowed by the lengthy explanation. It isrecommended that you compile a list of the points as you prepare.

Mock Exams: Attempt as many practise tests as you can. It will have a significant impact on your exam results. The Test Series will boost your confidence and assist you in planning for the exam. You will be able to perform well on the real exam since you will be less stressed and more confident. Above all, attempting test series and previous year question questions can assist students judge their capacity to perform well under pressure during the exam. You will perform better and gain confidence as you practise more question papers.

Collate Questions:Make a question bank by collecting questions from as many sources as possible. Use the question bank to practise the questions. To ace the exam with a high score, a chapter and portion-by-chapter collection of questions should be practiced on a regular basis.

Your ability to perform well in an examination is determined by you amount of preparation, confidence, and knowledge of the subject. The things discussed here will help you excel in all of these areas.