We are independent & ad-supported. We may earn a commission for purchases made through our links.
Advertiser Disclosure
Our website is an independent, advertising-supported platform. We provide our content free of charge to our readers, and to keep it that way, we rely on revenue generated through advertisements and affiliate partnerships. This means that when you click on certain links on our site and make a purchase, we may earn a commission. Learn more.
How We Make Money
We sustain our operations through affiliate commissions and advertising. If you click on an affiliate link and make a purchase, we may receive a commission from the merchant at no additional cost to you. We also display advertisements on our website, which help generate revenue to support our work and keep our content free for readers. Our editorial team operates independently of our advertising and affiliate partnerships to ensure that our content remains unbiased and focused on providing you with the best information and recommendations based on thorough research and honest evaluations. To remain transparent, we’ve provided a list of our current affiliate partners here.

How to I Prepare for a Microeconomics Exam?

By Erik J.J. Goserud
Updated May 17, 2024
Our promise to you
WiseGeek is dedicated to creating trustworthy, high-quality content that always prioritizes transparency, integrity, and inclusivity above all else. Our ensure that our content creation and review process includes rigorous fact-checking, evidence-based, and continual updates to ensure accuracy and reliability.

Our Promise to you

Founded in 2002, our company has been a trusted resource for readers seeking informative and engaging content. Our dedication to quality remains unwavering—and will never change. We follow a strict editorial policy, ensuring that our content is authored by highly qualified professionals and edited by subject matter experts. This guarantees that everything we publish is objective, accurate, and trustworthy.

Over the years, we've refined our approach to cover a wide range of topics, providing readers with reliable and practical advice to enhance their knowledge and skills. That's why millions of readers turn to us each year. Join us in celebrating the joy of learning, guided by standards you can trust.

Editorial Standards

At WiseGeek, we are committed to creating content that you can trust. Our editorial process is designed to ensure that every piece of content we publish is accurate, reliable, and informative.

Our team of experienced writers and editors follows a strict set of guidelines to ensure the highest quality content. We conduct thorough research, fact-check all information, and rely on credible sources to back up our claims. Our content is reviewed by subject-matter experts to ensure accuracy and clarity.

We believe in transparency and maintain editorial independence from our advertisers. Our team does not receive direct compensation from advertisers, allowing us to create unbiased content that prioritizes your interests.

Preparing for a microeconomics exam is no different than preparing for an exam in other subjects, and the best way to feel ready for such a test is to genuinely know and comprehend the subject manner. Tests on a subject may vary greatly, so you must first understand the content of a microeconomics exam in order to develop a plan of attack. There should be information pertaining to this available by the instructor. Once you've identified the specific content, you can target your time in preparing for a microeconomics exam.

Microeconomics is like any other field; there are novices and experts, simple explanations, and esoteric concepts. This is what makes realizing the content that you are responsible for knowing so important. Whether you need to know the basics and only a small amount, or a broad range of topics that are only for experienced economists, can greatly affect the manner in which you go about preparing. Identifying the concepts is the first step, followed by developing a plan and executing this plan effectively.

Developing a plan is a concept unique to each individual. Some people prefer to study alone, while others prefer bigger groups. There are visual learners who might benefit from the many graphs presented in economics materials, and contextual learners tend to comprehend the subject matter when presented in situational context. Others may enjoy dense text while learning something new. Some like to cram — although this is not recommended by learning experts — whereas others may need time to digest small pieces of information when preparing for a microeconomics exam.

Knowing how you function best will help you develop the right plan. This plan should involve what to study, who to study with, how to study, and when this studying should take place. The more time allotted for such endeavors, the more likely you are to succeed on your microeconomics exam. Take all of these things into account, form a plan, and execute.

Executing the plan is probably the most difficult and important step in performing well on a microeconomics exam. You may have all of the right tools and intentions planned out, but until you actually take action toward learning a subject, these things are meaningless. Willpower, working with other people, and setting small, attainable goals along the way will motivate you to act on your plan. There are many resources available for students as well, so taking advantage of the people and materials at your fingertips will help you learn better and ace your microeconomics exam.

WiseGeek is dedicated to providing accurate and trustworthy information. We carefully select reputable sources and employ a rigorous fact-checking process to maintain the highest standards. To learn more about our commitment to accuracy, read our editorial process.
Discussion Comments
By burcinc — On Jun 25, 2014

I think practicing with the formulas using real life examples are a great way to prepare for microeconomics exams. Because these are the kinds of questions that get asked.

There are practice tests available online for microeconomics and macroeconomics concepts. There are even some forums where people help explain questions and how to solve them.

So there are actually many different ways to prepare for a microeconomics exam. Of course, it's always a good idea to ask the instructor about the concepts and types of questions that will be on the exam and study accordingly.

By SteamLouis — On Jun 24, 2014

@candyquilt-- I used to have trouble with microeconomics when I was in school too. I was able to do well because I participated in study sessions outside of class.

The economic department at our school actually had help sessions for all students. This was when PhD students and teaching assistants had office hours and people could just walk in and ask questions. So I would take my notes and anything I didn't understand from class and ask them.

Ask the economics department at your school or your economics teacher about such opportunities. If this is not possible, ask people from class to come together for a study session so that everyone can explain the concepts to one another and help.

By candyquilt — On Jun 24, 2014

I have a microeconomics exam coming up and I'm having trouble understanding the material and the formulas. The class is fairly large and it's difficult to ask questions in class. How can I prepare for this exam aside from studying my notes? I need to do well.

WiseGeek, in your inbox

Our latest articles, guides, and more, delivered daily.

WiseGeek, in your inbox

Our latest articles, guides, and more, delivered daily.