Recent Tutoring Session Reviews
"The student and I went over her Problem Set 8 including probability, expected values, expected utility, and risk premiums. She was having some trouble understanding the use of utility, and what the value means, so we talked about what utility functions are used for. I think she had a good understanding of it after discussing it for a bit."
"We reviewed supply and demand (shifts, elasticity, complementary/substitute goods), profit maximization (MR, MRP,MC, ATC, P determinants and equations), free market concepts, market types (oligopoly, perfect competition, monopolistic competition, monopoly) and test taking strategy review for enhanced testing performance."
"We covered chapters 16, 17, and 18. Chapter 16 discussed consumer utility and how to optimize it by using ratios of marginal utilities and prices of goods, as well as indifference curves. Chapter 17 discussed behavioral economics and different types of psychological biases that affect decision-making. Chapter 18 discussed health care economics and how introducing insurance companies as an intermediary affects the prices and quantities of healthcare that are supplied and demanded. It also talked about asymmetric information problems (adverse selection, principal-agent, moral hazard). This was our final session of Microeconomics, and we will discuss tutoring for Macroeconomics before the fall."