Award-Winning Economics Tutors serving Reading

Today we went over the problem set I gave the student. I will make another problem set for him to work with. He struggles the most on problems involving math (division, multiplication, addition, subtraction, and percentages). Therefore, I gave him some problems to work on during our session. He struggled with finding nominal and real values. However, as we got to the third problem, he was able to find the answer independently. I highly recommend that he continue studying on his own.

The student and I primarily focused on chapter 13 today, as well as a few areas of chapter 14 (and I will be forwarding sample questions related to this chapter on money and the Federal Reserve). I first provided an overview of both the aggregate demand and supply curve, their characteristics, and factors that influence both movement along the curves vs. shifts. Then, we reviewed a number of sample questions related to these concepts, and the included the analysis and evaluation of graphs.

The student worked through her homework assignment, which covered firm costs, shifts in the firm cost curves and monopolies. She struggled most with the vocabulary which is normal for students learning this material, but she worked hard. To be prepared for her next homework assignment, we talked about memorizing the shape and characteristics of curves with flash cards, and I encouraged her to come back to her homework assignment in a few days to see what she would like to review next week. She made great progress!

The student's current problem set covers three concepts: cost break even analysis, price elasticity, and net present value -- the financial determinant for approving or rejecting new capital projects. It is always important to relate these obtuse formulas via real life examples and experiences. So with cost break even, we talked about the cost structure of a golf course business. For price elasticity, he gave the example of hotel prices during Super Bowl week in the Super Bowl city. For net present value, I shared my work experience with a fast food corporation. We will continue working to complete the problem set at our next session.

This session, the student completed the final. The questions were difficult, but she pushed through. She made a real improvement over the term. She improved significantly from the last semester and understands the material. Congrats to her for completing and passing the course!

This was my first session with the student. She was able to provide me a clear outline of her needs before the session. She is in senior year, enrolled in an introduction to behavioral economics course. In reviewing the course, there is much more economic game theory presented than the underlying behavioral concepts. The course lecture material does not provide a great deal of the information that is needed to answer the exam questions. We worked through a number of questions and will continue in the next online session.