The Economist, one of the most respected periodicals in the world of economics now offers its own GMAT course online.The UK-based magazine launched the service last Thursday, amid very little fanfare.
The offering puts it in direct competition with more traditional tutoring services that offer both live and online tutoring for the GMAT exam, such as The Princeton Review and Kaplan Test Prep.
But they see their product as something very different in comparison to what the industry currently offers. Isaac Showman, Vice-President at The Economist and General Manager of Economist education, spoke with Business Insider. He noted that while traditional tutoring companies’ online offerings are structured as “replicas” of their traditional classroom courses, “what we provide is not linear at all. It’s completely adaptive.”
Students also have access to live tutors via Skype as well.
Showman credited the product’s success to its cutting-edge “adaptive learning” technology. The product is supposed to cater to each student’s particular learning style by using an “artificial intelligence, which is able to understand to an incredibly nuanced degree about the different kinds of students.”
The program offers two services, a “complete prep” and a “premium prep,” priced at $550 and $750, respectively.