If you feel like working with macroeconomics tutors could help you pursue your academic and professional goals, Varsity Tutors can set you up with a knowledgeable private instructor in as little as 24 hours. Macroeconomics is actually a very interesting topic to study. It involves studying the economy on a global scale, through economic indicators such as annual GDP (Gross Domestic Product) as well as the impact of public policy and business decisions on world markets. For example, why was Germany in a financial crisis in the late 1920's?
Macroeconomics is interesting, but the amount of material covered in the course also makes it challenging. A private macroeconomics tutor can show you how the puzzle pieces fit together to give you a more comprehensive understanding of how the world economy operates. Continue reading to learn more about how we might be able to help you.
Macroeconomics vs. Microeconomics: what's the difference?
One of the first questions people have about macroeconomics is how it differs from microeconomics. The answer lies in their definitions: while macroeconomics is the study of economics on a global scale, microeconomics is the study of how individuals and small businesses make financial decisions. However, smaller purchase decisions can impact the economic indicators studied in macroeconomics, meaning that the two concepts are related.
Furthermore, some concepts are a part of both disciplines. For example, the laws of supply and demand are a key factor in determining commodity prices in the world economy, but also influence what a small business can charge for its products at the micro level. If you have studied microeconomics in the past, you'll find that many of its concepts apply to your study of macroeconomics. Similarly, studying macroeconomics now may make it easier for you to study microeconomics later on.
How can macroeconomics tutors help me develop a better understanding of academic concepts?
Your macroeconomics professor tries to help you and your classmates develop as comprehensive an understanding of macroeconomics as possible, but the sheer volume of students combined with the limited number of classroom hours means that there will probably be gaps in your education. Working with a private macroeconomics tutor is a great way to supplement your classroom instruction in a manner adaptable to your specific needs.
For example, you are in complete control over what you work on during your private study sessions. If you're having a hard time identifying how business and governmental entities can prevent financial crises, your instructor can guide you through historical examples of financial crises as well as "near-misses" where somebody intervened just in time. These scenarios can make abstract economic concepts feel more tangible, helping them stick in your mind.
Alternatively, let's say that you understand everything about emerging markets. Your classroom instructor still needs to spend some time on them because your peers may not have the understanding you do. However, your macroeconomics tutoring sessions can skim over them or even skip them entirely to keep your study time as engaging as possible. If you later feel as though you should have paid more attention to emerging markets, your instructor can also backtrack to help you feel comfortable with them again. The choice is completely up to you.
Similarly, your macroeconomics tutoring sessions can be designed around your preferred learning style for added flexibility. If you are a visual learner, your instructor may provide info-graphics and other visual aids to make it easier for you to picture key concepts in your head. An auditory learner wouldn't get the same benefit out of those tools, so their instructor might adopt a lecture-based format with plenty of oral repetition instead. If you're a kinesthetic learner who studies best by actually doing something, your instructor can walk you through practical use cases to help further your understanding of important concepts. Any interests you have outside of academia may also be incorporated into your sessions to make learning more fun.
Studying in a one-on-one learning environment also confers several important benefits. Your instructor can return assignments to you before grading a whole bunch of other papers, giving you prompt feedback so that you may correct any mistakes while the material remains fresh in your mind. You can also take the time to establish a real personal rapport with your instructor, potentially making it easier to admit when you need help. Since you are your instructor's only responsibility during your macroeconomics tutoring sessions, any questions you have can also be answered promptly. This is important, as it is best to address misunderstandings before they have an opportunity to snowball into significant learning obstacles.
What if I don't have the fundamental skills required to understand macroeconomics?
You can also study any underlying skills you may need to understand the concepts studied in macroeconomics during your private study sessions. For example, calculating GDP, conducting business analysis, and econometrics all involve numbers. You'll need to be comfortable calculating percentages and working with statistics at the very least, but not all economic students are. Your instructor can provide practice problems to reinforce the quantitative skills you need in macroeconomics.
Most macroeconomics classes involve a big, dense textbook that your professor assigns regular readings from. Unfortunately, a lot of students don't get as much out of those assignments as they would like to. Your instructor can show you active reading techniques such as note-taking to help you proactively engage with the material and get more out of it. You can also jot down anything that doesn't make sense to you to help you remember to ask your instructor about it later.
Political science is also an important component of macroeconomics. One of the things studied in the discipline is how a nation's financial decisions impact its national economy (as measured by annual GDP) as well as any ripple effects felt throughout the world. For example, Saudi Arabia is a power in the Middle East because its vast oil deposits make it a major player in international trade. If Saudi Arabia decided to stop exporting oil tomorrow, its national revenues would decline substantially. In addition, the lack of oil on the market would allow other oil-producing nations to raise their prices, making products such as gasoline more expensive in the United States and Europe.
What are some of the long-term benefits of working with macroeconomics tutors?
The knowledge and skills you develop under the tutelage of professional macroeconomics tutors are valuable, but there are other benefits of working with professional instructors as well. If you have a chapter test or even a standardized exam like the College Level Examination Program (CLEP) coming up, your instructor can show you how to study for the exam in your downtime. They may even be able to share some test-taking strategies you can use if you get stuck on exam day.
Your instructor may also recommend a book, podcast, website, or videos you can review to further advance your understanding of macroeconomics. If you find your interest piqued by any of the concepts discovered in this course, there are also several career opportunities available to students who major in microeconomics. For example, you could be an economic advisor to a world leader, advising them on how to optimize their economic output. If you would prefer to work in the private sector, you could act as a corporate analyst or consultant to help large companies make smart decisions based on the current economic climate. Alternatively, you could combine macroeconomics with journalism and tell the masses what's going on in the business world as a business reporter.
Macroeconomics is also useful in your everyday life even if you decide against pursuing them professionally. Understanding how global factors can affect the stock market can help you make personal investment decisions. Likewise, basic financial literacy can help you make better microeconomic decisions.
What makes Varsity Tutors such a powerful resource?
If you tried to find your own macroeconomics tutor, you would need to somehow ensure that any potential instructor actually know as much about macroeconomics as they say they do. You would also need to determine if they had the communication skills necessary to be a great teacher. Finally, you would need to figure out if the scheduling would work. Who has time to go through all of that?
Instead, reach out to Varsity Tutors can let us connect you with a knowledgeable instructor in as little as 24 hours. Not only do we take the hassle out of trying to find macroeconomics tutors, but we also make meeting with them a breeze. Our proprietary Live Learning Platform facilitates digital study sessions, allowing you to attend face-to-face study sessions on your favorite mobile device. Our platform supports video chat and a virtual whiteboard, providing for a study experience that is at least the equal of meeting up in person.
You also have total control over when you meet your instructor, allowing you to study for your other classes and enjoy life outside of academia while you study. Educational consultants are standing by to answer any questions you have or to get the process started, so reach out to Varsity Tutors today for help finding macroeconomics tutors today!
