Economics classes in Canada

The Student and Tutor reviewed production functions, cost functions, and profit maximization in a perfectly competitive market. They worked through a problem involving a Leontief production function to determine optimal input ratios, cost, and output levels. The next session will cover the remaining parts of the problem set.

The session focused on the macroeconomic effects of tariffs on Canada, using the IS-LM-BP model to analyze the impact on exports, interest rates, and the balance of payments. The Student explored potential policy responses, such as monetary policy adjustments, to address the economic shock caused by the tariffs. The Student was given a recommendation to consider cutting interest rates as a potential policy to increase the money supply.

Kajal tutored Mathangi on using Excel and Google Sheets, covering topics such as inserting cells, formatting tables, using SmartArt, inserting and manipulating pictures, and applying formulas. Mathangi practiced inserting images and calculating statistical values in Google Sheets. Kajal assigned Mathangi the task of creating a SmartArt diagram in Excel.

Narayani and Joshua reviewed economics concepts and practiced answering multiple-choice questions from sample exams to prepare for Joshua's upcoming exam. They analyzed the Philips curve, IS curve, Solow model, and life cycle model. Narayani provided guidance on interpreting questions, managing time, and avoiding common mistakes, and they agreed to continue practice questions in the next session.

Narayani tutors Joshua in economics, covering aggregate demand and supply, inflation (including types and control), automatic stabilizers, and unemployment. They discuss related concepts like disinflation, deflation, shoe leather costs, progressive taxes, and the lag in stabilization policy. They also work through practice questions, including growth rate calculations and solving for variables in equations. They plan to continue their session, focusing on unemployment and related topics, in the next meeting.

Shambhavee tutored Sam on the concepts of inflation and money, including the barter system, functions of money (medium of exchange, unit of measure, and store of value), and the Consumer Price Index (CPI) and Producer Price Index (PPI). They also discussed biases related to CPI. Sam was assigned to research leaves, rocks, and cowry shells for the next session, where they will complete the chapter and begin a new one. Shambhavee will also follow up with Sam regarding his remaining session hours.