How To Ace Your Econometrics Test

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If you’re an Economics major, you probably know that Econometrics is one of the most difficult subjects.  But don’t start panicking just yet!  Read on to find out how to ace your Econometrics exam. If you can pass Econometrics with flying colors, you can pretty much handle any Economics class.

  1. Ask your professor for the coverage of the exam.  Econometric exams are either theoretical or computational; each kind requires a different method of study.
  2. Find out if your professor allows students to bring a formula sheet for the exam.  There’s just no way you’d be able to memorize all those formulas, no matter how hard you try. Ask if you can bring your own cheat sheet of formulas, or if one will be provided for you on the day of the exam.
  3. If your professor allows you to bring your own cheat sheet, do not wait until the night before the exam to prepare it!  Make your cheat sheet as you review your notes, and use this as your guide when you practice solving problems so you can be familiar with the contents of your sheet. Make sure your cheat sheet is organized, well-labeled, and written legibly too.  You don’t want to waste your precious time at the exam trying to decipher your handwriting or searching for a particular formula!
  4. It may sound silly, but one of the ways to help you remember definitions is to make a song about them.
  5. If your professor is nice enough to give you practice problems to help you review, do them all.  They’ll probably be similar to the exams you’ll be given in the test, and students who accomplish the review problems score 20% better than those who don’t.  If you’re having a difficult time answering the review problems, look for a study partner or organize a study group with your classmates and solve the problems together.
  6. If your professor has been teaching at university for several years, talk to his former students and try to get copies of old econometrics exams. If they can’t give you any, ask them to give you ideas about your professor’s exam style or for any useful tips on how to study for the exam.
  7. Study in a quiet place free of distractions.
  8. Make sure you get enough sleep the night before the exam, especially if the exam will take place in the morning. Do NOT cram and pull an all-nighter! The extra hours of sleep you’ll be getting will be of greater help than the extra hours spent awake and cramming.
  9. Stop studying one hour before your exam. You won’t be able to process any new information, and looking over your notes will just make you more nervous.  Instead, hang out with a friend or play video games. Do whatever it takes to make you feel relaxed!
  10. Do not spend too much time figuring out the answer to one question. Skip the difficult questions and return to them once you’ve finished the entire exam.


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