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How to prepare economy for competitive exams? 

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If true understanding of economics is reflected by performance on CR exams, then easier MC exams would give rise to misleading measures of student understanding of economics, creating a false sense of complacency among both instructors and students.
As part of a balanced assessment strategy it may be necessary and timely to adopt open book exams.
From our analysis of the interviews, we find that most exams are based on existing formulas that are believed to work; that the lecturers tend to trust in the validity of their exams for summative assessment; and that while there is variation in the approaches taken to writing the exams, all of the exam writers take a fairly standard approach to preparing their students to sit the exam.
Through this, it will be easy as clicking a button to develop sufficient exams and to corporate equity between the students, who will have to answer the unique questions of the exams on their own.
Team exams can also serve to check the validity of exam questions and reduce the angst often associated with “going over” exams.
Our results indicate that it is important to isolate performance on individual exams.
Exams should be programmed regularly, and the examination rules have to be fair but strict.

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