2020 CFA Program Exam Prep Level 1: 2020 CFA Level 1, Book 2: Economics (2020 CFA Level 1 Exam Prep)

✍ Scribed by Havels Learning System

• Publisher: Havels Learning System
• Year: 2019
• Tongue: English
• Leaves: 209
• Series: 2020 CFA Level 1 Exam Prep (Book 2)
• Edition: 2020
• Category: Library

✦ Synopsis

Contents of the Study Material
→Study Notes are aligned with the curriculum
→Present the concepts in an easily understandable manner
→The most important points of each section of the curriculum are highlighted and explained
→Reading the notes helps to reinforce your understanding and grasping of concepts
→For each reading you will find detailed notes covering each Learning Outcome
→Solved Examples at the end of each reading
→Summary and Practice Questions after each reading

About the Full Study package
Presented in 6 Paperback volumes:
Book 1: Ethical and Professional Standards and Quantitative Methods
Book 2: Economics
Book 3: Financial Reporting & Analysis
Book 4: Corporate Finance and Equity
Book 5: Fixed Income and Derivatives
Book 6: Alternative Investments and Portfolio Management

We will recommend using all volumes for complete understanding and use our Question bank and 25th Hour notes for last minute practice and summary notes.

Wishing you all the very best for each and every one of your future endeavours.

HAVELS LEARNING SYSTEM®

✦ Table of Contents

1. Introduction
   1. Demand Analysis: The Consumer
      2.1. Demand Concepts
      2.2. Own Price Elasticity of Demand
      2.3. Income Elasticity of Demand
      2.4. Cross-Price Elasticity of Demand
      2.5. Substitution and Income Effects
      2.6. Normal and Inferior Goods
   2. Supply Analysis: The Firm
      3.1. Marginal Returns and Productivity
      3.2. Breakeven and Shutdown Analysis
      3.3. Understanding Economies and Diseconomies of Scale
      Summary
      Practice Questions
   3. Introduction
   4. Analysis of Market Structures
      2.1. Economists’ Four Types of Structures
      2.2. Factors that Determine Market Structure
   5. Perfect Competition
      3.1. Demand Analysis in Perfectly Competitive Markets
      3.2. Supply Analysis in Perfectly Competitive Markets
      3.3. Optimal Price and Output in Perfectly Competitive Markets
      3.4. Factors Affecting Long-Run Equilibrium in Perfectly Competitive Markets
   6. Monopolistic Competition
      4.1. Demand Analysis in Monopolistically Competitive Markets
      4.2. Supply Analysis in Monopolistically Competitive Markets
      4.3 Optimal Price and Output in Monopolistically Competitive Markets
      4.4. Factors Affecting Long-Run Equilibrium in Monopolistically Competitive Markets
   7. Oligopoly
      5.1. Demand Analysis and Pricing Strategies in Oligopoly Markets
      5.2. Supply Analysis in Oligopoly Markets
      5.3. Optimal Price and Output in Oligopoly Markets
      5.4. Factors Affecting Long-Run Equilibrium in Oligopoly Markets
   8. Monopoly
      6.1. Demand Analysis in Monopoly Markets
      6.2. Supply Analysis in Monopoly Markets
      6.3. Optimal Price and Output in Monopoly Markets
      6.4. Price Discrimination and Consumer Surplus
      6.5. Factors Affecting Long-Run Equilibrium in Monopoly Markets
   9. Identification of Market Structure
      7.1. Econometric Approaches
      7.2 Simpler Measures
      Summary
      Practice Questions
      blank612x792
      113768a7e00a1657e7a3928a0a6c03e19cf699145426a58edbfcc05a23dc1845.pdf
   10. Introduction
   11. Aggregate Output and Income
       2.1. Gross Domestic Product
       2.2. The Components of GDP
       2.3. GDP, National Income, Personal Income, and Personal Disposable Income
   12. Aggregate Demand, Aggregate Supply, and Equilibrium
       3.1. Aggregate Demand
       3.2. Aggregate Supply
       3.3. Shifts in Aggregate Demand and Aggregate Supply
       3.4. Equilibrium GDP and Prices
   13. Economic Growth and Sustainability
       4.1. The Production Function and Potential GDP
       4.2. Sources of Economic Growth
       4.3. Measures of Sustainable Growth
       Summary
       Practice Questions
   14. Introduction
   15. Overview of the Business Cycle
       2.1. Phases of the Business Cycle
       2.2. Resource Use through the Business Cycle
       2.3. Housing Sector Behavior
       2.4. External Trade Sector Behavior
   16. Theories of the Business Cycle
       3.1. Neoclassical and Austrian Schools
       3.2. Keynesian and Monetarist Schools
       3.3. The New Classical School
   17. Unemployment and Inflation
       4.1. Unemployment
       4.2. Inflation
   18. Economic Indicators
       Summary
       Practice Questions
       blank612x792
       113768a7e00a1657e7a3928a0a6c03e19cf699145426a58edbfcc05a23dc1845.pdf
   19. Introduction
   20. Monetary Policy
       2.1. Money
       2.2. The Roles of Central Banks
       2.3. The Objectives of the Monetary Policy
       2.4. Contractionary and Expansionary Monetary Policies and the Neutral Rate
       2.5. Limitations of Monetary Policy
   21. Fiscal Policy
       3.1. Roles and Objectives of Fiscal Policy
       3.2. Fiscal Policy Tools and the Macroeconomy
       3.3. Fiscal Policy Implementation: Active and Discretionary Fiscal Policy
   22. The Relationship between Monetary Policy and Fiscal Policy
       Summary
       Practice Questions
       blank612x792
       113768a7e00a1657e7a3928a0a6c03e19cf699145426a58edbfcc05a23dc1845.pdf
   23. Introduction
   24. International Trade
       2.1. Basic Terminology
       2.2. Patterns and Trends in International Trade and Capital Flows
       2.3. Benefits and Costs of International Trade
       2.4. Comparative Advantage and Gains from Trade
   25. Trade and Capital Flows: Restrictions and Agreements
       3.1. Tariffs
       3.2. Quotas
       3.3. Export Subsidies
       3.4. Trading Blocs, Common Markets, and Economic Unions
       3.5. Capital Restrictions
   26. The Balance of Payments
       4.1. Balance of Payment Accounts
       4.2. Balance of Payment Components
       4.3. Paired Transactions in the BOP Bookkeeping System
       4.4. National and Economic Accounts and the Balance of Payments
   27. Trade Organizations
       5.1. International Monetary Fund
       5.2. World Bank Group
       5.3. World Trade Organization
       Summary
       Practice Questions
   28. Introduction
   29. The Foreign Exchange Market
       2.1. Market Functions
       2.2. Market Participants
       2.3. Market Size and Composition
   30. Currency Exchange Rate Calculations
       3.1. Exchange Rate Quotations
       3.2. Cross-rate Calculations
       3.3. Forward Calculations
   31. Exchange Rate Regimes
       A Taxonomy of Current Regimes
   32. Exchange Rates, International Trade, and Capital Flows
       5.1. Exchange Rates and Trade Balance: The Elasticities Approach
       5.2. Exchange Rates and Trade Balance: The Absorption Approach
       Summary
       Practice Questions