Expert Economics Tutor from Macquarie Univeristy offering personalized lessons in Microeconomics, Macroeconomics and Market Structures.

The Student reviewed essay questions on monopoly markets, labor markets, and globalization in preparation for an upcoming exam. They analyzed the impact of government interventions in monopolies and assessed the effects of labor productivity in perfectly vs. imperfectly competitive markets. The session also covered the injections and withdrawals model and its relationship to interest rates and employment.

The Student and Tutor reviewed microeconomic principles, including diminishing marginal returns, cost curves, and price discrimination. They analyzed case studies involving pricing strategies and income inequality, assessing economic data and theoretical implications. The Tutor assigned practice questions and emphasized timed practice for the upcoming exam, with a follow-up session scheduled to review additional case studies.

Pasan and Taylor discussed international economics, including the J-curve effect and GNI, and then moved on to government macroeconomic and microeconomic aims. They also covered indifference curves and marginal/average variable costs in production decisions. Taylor was assigned questions on diminishing marginal returns to complete before the next session, where they will review long answer questions and past papers.

Pasan and Taylor reviewed several economics concepts, including case study analysis, kinked demand curves, concentration ratios, indifference curves, national income statistics, government spending, and perfect competition. Taylor practiced answering essay questions related to these topics, and Pasan recommended focusing on areas of weakness identified through self-assessment and reviewing marking guides for exam questions. They scheduled follow-up lessons to continue their economics exam preparation.

Pasan guided Taylor through a comprehensive economics lesson, focusing on oligopoly market structures. Their discussion covered graph construction, short-run versus long-run profits, and characteristic behaviors like collusion and cooperation. They also explored game theory and the law of diminishing returns. To prepare for Taylor's upcoming long answer exam, they plan to dedicate their next two lessons to working through exam and long answer questions.

Pasan and Tom's recent lesson delved into key microeconomic principles, including price floors, price ceilings, and quotas. They also focused on how to calculate market equilibrium using supply and demand equations. Tom actively practiced determining equilibrium points and deadweight loss, and Pasan advised him to review his notes and examples on deadweight loss calculations.