Economics is a very practical subject. It might not seem that way in the beginning since they bombard you with lots of theory. But it is the most applicable subject out there. Once you realize this, economics becomes very interesting. I had a general rule for studying when I started a brand new topic in economics;

Learn the law/rule/theory word for word,

Learn the assumptions under which this law holds

Learn who proposed it and also what school of thought they belong to (school of thoughts are very important in economics. They basically form the "lens" through which you look at problems)

Look at the example given in the book/reference material and try to apply it to your own life (for example when studying the very basic law of demand you can consider how in a sale near you prices go down so the demand for the good goes up.)

Learn its practical advantage (again lets take the law of demand. You've studied what it is now study how it applies in real life situations. The law of demand is very important for businesses especially ones with some form of competitive advantage-they know when to lower their prices so that their quantity sold goes up hence overall increasing sales. The law of demand is also important for taxation ministers, marketing managers, basic consumers etc etc)

Practice the graphs so many times that you can could draw without thinking. (there are no shortcuts here. Graphs form the backbone of economics. They need to be at your fingertips)

And lastly, see the criticism for the theory/law/rule that you are studying. (Why is it criticized? What are the points against it? Is the criticism justified?)


Once you do these steps, you'll have a very good grasp of the topic under study. Economics can seem overwhelming and confusing but take it bit by bit-one step at a time. For a recommended basic book, you'll have to ask you college for that since a different course requires different reference book(s)