In the first of a two-part series, participants will be engaged in discussions that integrate detailed charts with proven equations and formulas that provide a practical understanding of the fundamental issues related to microeconomics. At the conclusion of this session you will be able to:
- Define and recognize the elemental concepts of microeconomics, including the Laws of Supply and Demand, Shortages, Surpluses and Equilibrium
- Identify the factors that can cause a shift in a product’s demand curve or supply curve and recognize how markets adjust to changes in supply and demand over time
- Recognize the applications of the supply and demand models, including the effects of price controls
- Calculate and recognize the meaning of price elasticity of demand and income elasticity
- Recognize the characteristics of the types of business firms and the principle-agent problem
- Define the terms accounting profit, economic profit, zero economic profit, law of diminishing returns, average total product, marginal product, fixed costs, variable costs, and economies of scale
Peter “Sugar Bear” Olinto, CFA, JD, CPA (inactive) has a 20+ year history teaching with Becker, but his career didn’t start here! Peter received his Bachelor’s of Business Administration, magna cum laude, from Pace University in 1990. After working in audit at Deloitte & Touche, Pete attended law school at Fordham University School of Law in New York City, and earned his Juris Doctor degree, with dreams of becoming a tax attorney. While in school, Pete ventured into teaching, starting with LSAT and SAT prep and eventually leading into CPA Review.
Pete began instructing for Becker in 1998, where he now teaches review courses for the FAR, REG and BEC sections of the CPA Exam, as well as CPE courses on various financial topics.
At Becker, Pete loves bonding with coworkers and students - legend has it that if you pass the CPA Exam using Becker, Pete is obligated to buy you a cup of coffee! Pete also enjoys reviewing his favorite mnemonics, like EBOCA, and teaching his course of choice, FAR. Outside of Becker, Pete is passionate about teaching CFA review and hassling Tim Gearty.
Pete’s best CPA Exam studying advice? “You can and will do it, so long as you are willing and able to make the sacrifice. Proper preparation requires patience, practice and perseverance.” To current CPAs completing CPE coursework, Pete recommends focusing 100% on your course and avoiding multitasking.
If Pete wasn’t a CPA, he’d be a DJ - but we’re sure glad he’s at Becker!
Becker Professional Education Sponsor I.D. Numbers NASBA: 107294, New York: 002087, New Jersey: 20CE00226700, Texas: 009580, Ohio: CPE.186, Illinois 158.002405, Pennsylvania: PX177823