Regardless of how the math/statistics falls on this…
It might be a good way to ensure a pass for L1. But it’s also a good way to ensure a fail for L2. If you don’t know 90% your L1 stuff, you will certainly fail L2.
Like I’ve said many many times–L1 is an entrance exam. It’s the application for admission. It’s like the “remedial math” class you have to take in college before you take Algebra, Trig, Calc 1-2-3, etc.
There are two reading on Econ, and they are both difficult and worth studying (unless they changed curriculum this year). I imagine with high probability that both topics will be tested.
I would advise against skipping any topic at all costs. Perhaps emphasize certain areas more than others if absolutely necessary, but you should strive to attain at least a fundamental undrstanding of every topic. There are easy points you don’t want to leave on the table because you punted a topic for the sake of efficiency. Agree that econ feels unproductive given the amount of material vs. % of the exam it represents. Drill practice q’s to help retain high level concepts. Also, to assume a 100% success rate on the topics you do study is pretty unrealistic. Bottom line, you want to be well versed in everything to give yourself the best chance at passing (will help you sleep better while waiting 8 weeks for results too).
The binomial distribution is a discrete distribution, whereas the normal distribution is a continuous distribution. Even in the limit (as n -> ∞), a binomial distribution has only a countable (infinity) of possible outcomes, whereas a normal distribution has an uncountable (infinity) of possible outcomes.