Recent Tutoring Session Reviews
"The student and I continued to review the preliminary microeconomic chapters, and he demonstrated a good understanding of the material! We were able to review Chapter 3 that focused on the difference between absolute advantage (i.e. lower costs or lower resources) versus comparative advantage (i.e. lower opportunity costs) and how a country should specialize in producing items with a comparative advantage in order to obtain from trade. We also worked through a couple of examples in order to determine opportunity cost. Finally, we covered most of Chapter 4 that focused on demand and supply. We reviewed the differences between quantity supplied/demanded vs. changes in supply and demand (that are influenced by various factors and curve "shifters"). We are going to review sample questions from the first two chapters soon, and I will be developing more sets related to this chapter that we will review."
"The student and I went through chapters 10 and 11 of his text, looking at how "price-taker" and "price-searcher" firms behave; we also started in on oligopolistic competition. He did a couple of problem sets, on which he did much better than in past efforts; he described his performance as "miraculous," so I am pleased with his progress."
"We covered break-even analysis. I reminded the student that sometimes problems present information in a way that is slightly confusing and you have to go back and understand what is being asked and what information has been presented."
"The student worked on his microeconomics quiz. He also worked through his Chapter 2 accounting homework which consisted of T charts and journal entries. He had a good understanding of the material but would get tripped on some terminology from time to time. He worked steadfastly on the material and took a vested interest in completing the necessary assignments. He worked on eliminating answer choices to come to the correct choice for economics. He had extra assignments to complete that served as additional help on the subject. He received a 90 on his economic work and a 99 on his accounting homework. He worked hard in this session and had a great deal of confidence."
"The student and I went over general concepts of economics: supply and demand, production curve, opportunity cost, etc. I assisted her with practice problems and applying these problems to the real world. She has taken macro already, so the concepts we went over, she was familiar with."
"We covered budget constraints and how price changes or policy subsidies change budget constraints. The student was confident."