It is impossible to imagine a modern person who has never been to a supermarket or a regular grocery store in his/her life. The thing is that any resident of a metropolis and even remote regions know the meaning of the words “discount”, “promotion,” and “sale”. It is safe to say that every person is involved in the economy of his/her country. Moreover, by purchasing goods produced in other countries, we also participate in the global economy.

With the AnkiPro app, studying economics can be an interesting and rewarding experience. This method will help you remember the information you need quickly and efficiently. The essence of the method is to use flashcards on which question-answer pairs are written. This method was created based on effective spaced repetition.

Why Study Economics?

For a start, knowledge of economics helps explain plenty of phenomena in society, such as inflation, unemployment, income inequality and other economic problems. Additionally, mastering economics allows us to make smart financial decisions. What is more, it helps us understand how to allocate our resources and make wise choices when resources are limited.

Does Knowledge of Economics Help in Business?

Since any business is a driver and an integral part of the economy, a basic understanding of how the economy of a city/country/world functions is necessary for sustainable development and prosperity of business. Nevertheless, it is possible to quickly launch a business without knowledge of economics, but this knowledge will be required so that the business does not close down quickly.

For example, if you purchase a finished product, then this product will go through a huge chain to you, namely: purchase of raw materials, logistics to the plant/factory, production of the final product, logistics to you and on-site sales. The cost of each stage is directly affected by the current economic situation, both global and local. So, the better your knowledge of economics, the better you will be able to predict, optimize and develop various areas of business.

Top Economic Flashcard Decks 2024

By studying and systematizing the facts of economic reality, revealing the content of economic categories, laws, and patterns, economic theory makes it possible to predict economic development, which makes it possible to more fully take into account the needs of society and more rationally use limited resources. Here are the top Economic Flashcard decks for 2024.

Mathematical Economics

It should be noted that mathematical economics implies a scientific discipline based on the application of mathematical methods to study economic phenomena and processes. It allows you to more accurately describe and analyze economic phenomena, model the behavior of economic agents, predict the results of economic decisions as well as optimize economic processes. This Mathematical Economics deck contains a helpful series that is designed to focus on learning mathematical economics. There are approximately 80 notes here.

Macroeconomics

The main macroeconomic goal is to ensure sustainable economic growth, which requires solving the problem of employment and curbing the rise in price levels in the economy. Macroeconomics sets the task of identifying the causes and forms of unemployment, revealing the mechanism of inflation, as well as the government’s ability to influence these processes.

Experienced teachers and entrepreneurs recommend starting to study numbers as early as possible. The best way to do this is using digital macroeconomics deck flashcards. The presented deck contains 111 notes.

Industrial Economics

It is well known that economics is the real basis, the basis of social life. Everything else is just a superstructure in terms of living conditions. The economy determines the level and dynamics of all the main indicators of social life from any perspective. Industry is a branch of economic activity that is aimed at the production of any products or the extraction of resources. The Industrial Economics deck contains 93 notes.

Modern Principles of Economics

For the effective functioning of a market economy, prerequisites are necessary that must be created during the transition period. They form the basic principles of the new economic system. Economic laws are as objective, inexorable and precise as the laws of mathematics, physics, chemistry, biochemistry, and the like. These economic laws determine the nature of the functioning of the national economy. The presented Modern Principles of Economics deck contains 314 notes.

Personal Anki Deck International Macro Economics

It’s important to emphasize that international macroeconomics is based on international specialization and the international division of labor, while the state plays a completely different role than in microeconomics. Due to the fact that macroeconomics, based mainly on common property, is state-oriented, the topics discussed in this section are presented from the perspective of state interests rather than private ones. Personal Anki Deck International Macro Economics contains 14 notes.

A Level Economics A: Definitions

It comes as no surprise that economics helps develop analytical thinking and problem-solving skills. In a nutshell, studying economics requires analyzing data, assessing risks, and anticipating the consequences of decisions. These skills are widely applicable to many areas of life, from managing personal finances to running a business. A Level Economics A: Definitions contains more than 190 definitions needed for studying economics.

Economics

In fact, economics education develops critical thinking, helping to distinguish objective information from manipulation and false statements. In our modern world, where economics plays a key role in different aspects of life, understanding the basics of economics has become increasingly essential. This Economics deck has approximately 360 cards. The list will assist economics learners in developing their business skills.

Thomas Sowell’s Basic Economics

The knowledge gained from studying an economics course will allow you to monitor how enterprises in a particular industry operate and whether they do it successfully. The application of concepts and models will show what needs to be done to create healthy competition in the industry and attract more customers to the brand. This skill set always makes economists an invaluable part of corporations. Thomas Sowell’s Basic Economics deck has approximately 30 cards.

Micro Economics

What counts here is that economics is not just about making graphs and diagrams and interpreting them. It affects people’s rational behavior and choices. While it is important to predict their actions, it is equally important to know what to do if those predictions do not materialize. Studying people’s cognition, biases, and epistemic intersubjectivity will allow you to predict economic behavior and understand whether people make rational or irrational decisions. The presented Micro Economics deck has 621 notes.

LC Economics – Elasticity

The study of demand elasticity is of practical importance. Every manufacturer wants to know the consumer’s reaction to his/her actions: to a change in price, to a change in product range, and the like. This is necessary to forecast sales volume and revenue. LC Economics – Elasticity deck contains 48 notes.

Key Takeaways

So, as you see studying economics is not only about getting a good education in terms of the job market, but also learning good lessons needed in life. The range of economic science is wide and multifaceted. The AnkiPro application will assist you in studying economics.  Don’t waste your precious time and start studying your desired subjects with the help of flash cards.