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Have Economics Lessons in the Comfort of Your Own Home

By Yann, published on 15/05/2018 We Love Prof - AU > Academia > Economics > Best Tools for Learning Economics at Home

Whether you’re studying A-level economics or want to brush up on economic theory or principles, there are plenty of ways that you can boost your knowledge learning economics at home.

Although there are plenty of tried-and-tested home learning methods, such as getting an economics tutor to teach you more about the subject, there are other, less thought-of ways that you can learn more about and evaluate this enduringly popular subject.

Be Your Own Economics Teacher

Economics is a hugely popular subject at A-level and at university, and it’s no surprise why. Having an understanding of economics, or even an undergrad economics degree, means that you’re not only proficient in maths, but it also means that you have a greater appreciation for why the world works as it does, and how government policies can shape economic policies.

As a result, it’s understandable why people who don’t even take the subject want to study more about it. So whether you’re an A-level economics course student, applying to be an economics undergraduate at university, or just want to know more about the market economy, there are lots of resources out there that can illustrate key economic theories and principles.

Read Popular Economics Books

One easy, efficient and fun way to learn more about economics is to introduce yourself to some popular books about economics. Examples of economics texts that are approachable, logical and enjoyable to read include:

  • Freakonomics by Stephen J. Dubner and Steven Levitt;
  • The Armchair Economist by Steven Landsburg; and
  • 50 Economics Ideas You Really Need to Know by Ed Conway

These books are great reads if you’re out and about, and they really make the topic of economics come alive, from inflation to microeconomics, which is perfect if you’re struggling to find any enthusiasm for learning about it!

They also help develop your analytical thinking and help you to understand some of the key economic theories, from capitalism to fiscal policy, as well as the economic institutions in existence today.

Selection of books, which are great resources to supplement economics tuition. Learning economics at home is easier if you read widely. (Source: CC BY 2.0, Abhi Sharma, Flickr)

Brush Up on Your Textbooks

Of course, if you’re an economics student, then you can also help improve your academic performance and efficiency simply by using some of your free time at home to go through your textbooks.

Regardless of what syllabus you study, it’s unlikely that your teacher will teach every single aspect of a curriculum in depth in the classroom. That means that you can use any private study time at home to research and put emphasis on those more technical points. Having this discipline will not only give you a broader appreciation for the subject but will also improve your grades, coursework, and essay writing during the academic year.

Supplement Your Economics Tuition by Following the News

Another easy and quick way to keep your economics knowledge up-to-date is to keep up with the latest developments in the news on the free market.

The impact of economics, including international economics, can be felt all around us. As a result, you can learn a lot about it just by hearing about the state of the economy and international trade.

With the advance of social media, you don’t even need to watch TV to get the latest updates on topics such as monetary policy. Valuable news sites, from the BBC to Reuters, all have twitter accounts that you can engage with at the tap of a button.

Additionally, sites such as the BBC allow you to sign up for news alerts, so when any breaking news comes through, you’ll be the first to hear about it.

Even if you’re not a huge fan of social media and the trappings of technology, you can still catch up on the latest economic news by following popular magazines such as the Economist. These magazines often outline key items of global economic policy, along with their theoretical implications.

If you’re studying economics at A-level or at university, the great thing about keeping up to date with the news is that you have plenty of real-world examples that you can learn to reference during your exam. This will not only impress the examiner, but it can really help to boost your grades.

Economics tutors can teach you about the trading room floor. Learning economics means you understand more about real-world economic issues. (Source: CC0 1.0, geralt, Pixabay)

Get Economics Tuition Online

Another great benefit to learning economics from the comfort of your home is that you have access to a wider range of study materials online and learning strategies than ever before.

For example, did you know that YouTube has a huge range of educational videos that you can watch to improve your knowledge of economics? Many established educators, from the Economist to the London School of Economics and Political Science, regularly post content that is designed to keep you informed about the wider world, including business, banking, fundamental regulatory matters, and economics.

Additionally, many prestigious universities now offer online courses on economics that are both run online and available to the general public. MIT, for example, has a number of online courses that cover topics from the principles of microeconomics to supply and demand and economic history.

You can also:

  • Try out a massive online open course (Mooc) at Coursera; or
  • Challenge yourself to learn something more about economic analysis at edX.

Both websites offer a range of economics courses for a variety of ability levels, and also include some courses in partnership with some of the best universities out there.

Although some of the courses can be very maths-focused, some of them contain very minimal numerical or quantitative elements, so it’s best to have a look online and see what course most appeals to you.

Of course, you can also use your time online in a more applied way, especially if you are currently studying AS or A-level economics. Most of the main course providers, such as AQA, Edexcel and OCR, provide past or sample papers, along with an answer guide.

If you download these papers and test your knowledge, you’ll not only supplement the learning that you do in school, but you’ll also help refine your exam technique, making you even more prepared for your final exams.

An apple, laptop and phone. Perfect tools to research economics lessons online! There are plenty of economics classes available online. (Source: CC0 1.0, Pexels, Pixabay)

Secure Your Own Economics Tutor

Of course, whilst the above methods of learning economics at home are all effective, there is another, simple way to have economics principles explained to you.

If you use an economics instructor, whether through private tuition or in a small group, you can easily learn more about the subject in a fun and engaging way.

There are plenty of online tutors that you can find through online tutoring websites, such as Superprof. These sites pool together a database full of experienced, qualified tutors that are happy to help you on your learning journey.

A tutor can help focus your efforts on the topics that you really need help with. What’s more, a tutor can:

  • Help prepare you for upcoming exams;
  • Go through specific areas, such as macroeconomics, in deeper detail; and
  • Increase your confidence overall to improve your academic performance

Although you can certainly teach yourself a lot about economics or macroeconomic theories at home, these benefits are all difficult to obtain unless you have someone on hand to help you where you need assistance most.

The joy of online tuition, in particular, is that you can still learn about economics in a guided and structured way, without needing to leave the house. So it’s never been easier to use a site like Superprof to find a great tutor that can help you.

Although there are things to think of, such as the cost of a tutor, they should not be a barrier to helping you secure an enthusiastic tutor and further your education.

Overall, there are a number of ways of learning economics at home. For example, you can buy, or even borrow, a number of popular bestselling books that teach you about economics or economic principles in a fun, easy to understand way. These books are a great way to learn about economic theories, as you can read them on the go, and often present information in a new way that you may not have previously considered.

Alternatively, you can look online for some learning inspiration. Sites such as YouTube, as well as Moocs, now provide more learning opportunities than ever before for someone looking to brush up on their economics knowledge. Not only are such courses cheap, or even free, but they are great resources for those who want a more structured approach to their learning.

Finally, you can hire an economics tutor to give you personalised help with areas that you’re struggling with. Tutors, such as those on offer on Superprof, can be a great resource, especially when it comes to exam time and learning those all-important study tips. Although you can teach yourself about economics from home, sometimes it really helps to have someone on hand to help with any specific questions you have. So why not look for an economics tutor today?

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