Plan B: You Have One Semester to Prepare
If you have already completed one semester of economic studies, the following plan will help
you use those skills you’ve been practicing to prepare for the May exam.How to Plan Your Time ‹ 15JANUARY–FEBRUARY
Carefully read Chapters 1 to 4 of this book.
Take the Diagnostic Exam.
Pay close attention to your walk-through of
the Diagnostic Exam.
Read and study Chapter 5, “Fundamentals
of Economic Analysis.”
Read and study Chapter 6, “Demand,
Supply, Market Equilibrium, and Welfare
Analysis.”
Read and study Chapter 7, “Elasticity,
Microeconomic Policy, and Consumer
Theory.”
Take Microeconomics Practice Exam 1 in
the last week of February.
Evaluate your Micro strengths and weak-
nesses.
_____ Study appropriate chapters to correct your
Micro weaknesses.
MARCH(10 weeks to go)
_____ Read and study Chapter 8, “The Firm,
Profit, and the Costs of Production.”
_____ Read and study Chapter 9, “Market
Structures, Perfect Competition, Monopoly,
and Things Between.”
_____ Review Chapters 5 to 7.APRIL
_____ Read and study Chapter 10, “Factor
Markets.”
_____ Read and study Chapter 11, “Public
Goods, Externalities, and the Role of
Government.”
_____ Review Chapters 5 to 9.MAY(first two weeks) (THIS IS IT!)
_____ Review Chapters 5 to 11—all the material!
_____ Take Microeconomics Practice Exam 2.
_____ Score yourself.
_____ Get a good night’s sleep before the exam.
Fall asleep knowing that you are well pre-
pared.GOOD LUCK ON THE TEST!