By incorporating interactive tools, simulations, and real-world data, I enable students to connect theoretical knowledge.

The tutor and student reviewed concepts of Game Theory, including Dominant Strategy and Nash Equilibrium, using examples like the Prisoner's Dilemma and market competition. They practiced calculating economic costs and products and worked through past exam questions. The tutor provided supplementary practice material and scheduled follow-up sessions to focus on graphs and address any remaining doubts before the student's exam.

The student and tutor reviewed concepts in microeconomics, including the relationship between marginal revenue and price elasticity of demand, production costs, and marginal product of labor. They then explored market structures like monopoly and perfect competition, and introduced game theory, focusing on the prisoner's dilemma and calculating dominant strategies. The plan is to continue with game theory and related topics in the next session.

The tutor and student reviewed the relationship between marginal revenue and price elasticity of demand, along with concepts of economic profit and graphical representations in various market structures. They also explored the theory and examples of price discrimination, differentiating between its three degrees, and briefly touched upon market structures like oligopoly and anti-competitive behaviors. Future sessions will cover oligopoly, duopoly, and game theory.

Student and Tutor reviewed key concepts in perfect competition, including profit conditions and short-run versus long-run equilibrium, utilizing supply and demand diagrams with real-world examples. They then progressed to introduce the characteristics, demand curves, and profit maximization for both monopoly and monopolistic competition. They also briefly practiced solving exam-style questions related to these topics and scheduled the next session to cover remaining topics like price elasticity of demand and price discrimination.

The session began with a review of market equilibrium and the definition of a market. The Tutor then provided an in-depth explanation of perfect competition, covering its characteristics, industry versus firm pricing, and key revenue and cost concepts. The Student practiced identifying profit maximization conditions and understanding supernormal, normal, and loss scenarios through diagrams, with a plan to continue with perfect competition and numericals in the next class, as well as review mock exam materials.

The Tutor and Student reviewed the concept of price discrimination, covering its first, second, and third degrees with examples. They then transitioned to discussing the characteristics and long-run equilibrium conditions of monopolistic competition, including profit maximization. The session concluded with a discussion on oligopoly concepts, with plans to cover them in a future class.