Recent Tutoring Session Reviews
"In today's session we reviewed the determinants of demand and the ways they shift the demand curve, and introduced the concept of price elasticity of demand (the responsiveness of consumers to changes in the prices of goods/ services). Demand can be either elastic (responsive) or inelastic (unresponsive) to changes in the price. Elasticity can be represented graphically by changing the slope, or steepness, of the demand curve. In addition to elasticity, today we introduced the determinants of supply vs. quantity supplied. The student appears to still be struggling with the concept of demand and supply as general forces in the economy. In the next session I plan to cover practice problems that address those two concepts in depth."
"We looked at public vs. private good marginal benefit. The questions were challenging but we were able to come up with a reasonable understanding to most of the questions."
"The student and I had a great initial session. Our focus today was on the review of several equations involving the growth function that takes into account the percentage change in real GDP as a function in the percentage change in capital, labor, other factors and the contribution of output towards labor and capital. She was able to understand this ending formula that is used, as well as the production function as well, and worked through several problems applying these concepts. We also discussed the loanable funds model and reviewed several questions/ problems involving graphing and the calculation of an equilibrium real rate and quantity of funds supplied and demanded. I am forwarding two resources to her - one was shared and related to the growth model and the other resource is a set of slides related to loanable funds."
"We went over the student's most recent homework on goods and services market, along with answering a few questions from a practice test. He understands the concepts well for his test; all that's left is to spend time studying for his test."
"The student and I covered fiscal policy, monetary policy, the global economy, and international trade. The student will need further help in understanding the graphs that accompany these topics. Those are the focus of our next session. She is a joy to work with. We discussed how to review for the final and that will be the focus of our last session together. I will be sending her examples of the graphs that support the concepts we discussed today and narratives for her to use in our next session. She mentioned that the professor complimented her on her grasp of the aggregate supply and demand curves (these were the focus of our last session) that were on the last exam. He mentioned that she was the only one in the class who earned all available points for that portion of the exam."
"We were able to cover monopolistic competition in the long and short run, which is an important step forward!"