  Elastocaloric measurements of the ferroquadrupolar/nematic rare-earth
intermetallic TmAg$_2$ are presented. TmAg$_2$ undergoes a cooperative
Jahn-Teller-like ferroquadrupolar phase transition at 5K, in which the
Tm$^{3+}$ ion's local $4f$ electronic ground state doublet spontaneously splits
and develops an electric quadrupole moment which breaks the rotational symmetry
of the tetragonal lattice. The elastocaloric effect, which is the temperature
change in the sample induced by adiabatic strains the sample experiences, is
sensitive to quadrupolar fluctuations in the paranematic phase which couple to
the induced strain. We show that elastocaloric measurements of this material
reveal a Curie-Weiss like nematic susceptibility with a Weiss temperature of
$\approx 2.7K$, in agreement with previous elastic constant measurements.
Furthermore, we establish that a magnetic field along the c-axis acts as an
effective transverse field for the quadrupole moments.
