Preparing for the GRE Economics Subject Test: A Comprehensive Guide
Taking the GRE Economics Subject Test can be a significant step in your educational journey, especially if you plan to pursue graduate studies in Economics. This test is designed to measure your expertise and understanding of economic principles and your ability to apply these concepts. As such, proper preparation is essential. In this guide, we break down everything you need to know about getting ready for the GRE Economics Subject Test.
What is the GRE Economics Subject Test?
Before we dive into the preparation strategies, it’s worth discussing what the GRE Economics Subject Test is. It's a standardized test administered by Educational Testing Service (ETS) used by many graduate schools to evaluate applicants' readiness for rigorous Economics graduate programs. The test covers both micro and macroeconomic principles and applications, with questions based on undergraduate coursework in Economics.
The Test Format
The GRE Economics Subject Test has 3 sections:
- Microeconomic Theory (30% of the test)
- Macroeconomic Theory (30% of the test)
- Economics in Context (40% of the test)
The 'Economics in Context' section incorporates international economics, public economics, and other special fields within the discipline.
You'll have 2 hours and 50 minutes to answer all 60 multiple-choice questions, with five answer choices for each question.
How to Effectively Prepare for the GRE Economics Subject Test
Start Early
There's no speedy route to mastering Economics. The more time you give yourself to revise, the better. Many test-takers recommend starting at least three to four months before your estimated test date.
Review Your Undergraduate Course Material
Since the GRE Economics Subject Test is fundamentally a summative assessment of your undergraduate economics coursework, those textbooks and lecture notes will be extremely valuable. Micro and macroeconomic theories form the fundamental underpinnings of the exam, so you'll want to review key concepts and theories extensively.
Practice with Real Test Questions
ETS provides a practice book for every GRE Subject Test. These practice books contain actual test questions that were used in previous years. Working with these materials can give you a feel for the types of questions you'll face and help you understand the test format.
Get a Test Prep Book
Several publishers offer test prep books specifically tailored for the GRE Economics Subject Test. These books typically include study strategies, comprehensive content overview, and full-length practice tests.
Tackling the GRE Economics Subjects Test
Manage Your Time Wisely
With 170 minutes to answer 60 questions, you'll have just under 3 minutes per question. It's essential to manage your time well during the test. Don't spend too long on questions you find challenging—answer the ones you're confident about first.
Eliminate Wrong Answer Choices
Since this is a multiple-choice test, one strategy is to eliminate the wrong answer choices, thus increasing your chances of selecting the correct answer. This approach is especially useful for difficult questions.
Read Each Question Carefully
This may sound simple, but it's easy to misinterpret a question, especially when you're feeling the pressure. Read each question at least twice before selecting an answer.
Post-Test: What's Next?
Your scores will be sent to you and your designated schools about five weeks after you take the test. Remember, your GRE Economics Subject Test scores are only one metric used by graduate schools during their admissions process.
Keep in mind that robust preparation is the key to doing well on the GRE Economics Subject Test. Follow these guidelines, invest your time wisely, and success may be just around the corner!
