Study Guide for 2015 Level I CFA Exam - Wiley

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Study Session 4: Economics--Microeconomic Analysis Reading 13: Demand and Supply Analysis: Introduction 3 Lesson 1: Demand and Supply Analysis: Basic Principles and Concepts 3 Lesson 2: Market Equilibrium 12 Lesson 3: Consumer Surplus and Producer Surplus: Introduction and Applications 17 Lesson 4: Demand Elasticities 27 Reading 14: Demand and Supply Analysis: Consumer Demand 37 Lesson 1: Indifference Curves and the Opportunity Set 37 Lesson 2: Consumer Equilibrium 44 Lesson 3: Income and Substitution Effects 48 Reading 15: Demand and Supply Analysis: The Firm 53 Lesson 1: Types of Profit Measures 53 Lesson 2: Analysis of Revenue and Costs 56 Lesson 3: Maximizing Profits and Optimizing Productivity 66 Lesson 4: Economies and Diseconomies of Scale and Profit Maximization in the Short Run v. Log Run 73 Lesson 5: Long Run Supply 80 Reading 16: The Firm and Market Structures 83 Lesson 1: Market Structure 1: Perfect Competition 83 Lesson 2: Market Structure 2: Monopoly 89 Lesson 3: Market Structure 3: Monopolistic Competition 95 Lesson 4: Market Structure 4: Oligopoly 98 Lesson 5: Identification of Market Structure 103 Study Session 5: Economics--Macroeconomic Analysis Reading 17: Aggregate Output, Price, and Economic Growth 109 Lesson 1: Aggregate Output and Income 109 Lesson 2: Aggregate Demand, Aggregate Supply and Equilibrium: Part 1 (Fundamental Relationships) 118 Lesson 3: Aggregate Demand, Aggregate Supply and Equilibrium: Part 2 (IS-LM Analysis and the AD Curve) 120 Lesson 4: Aggregate Demand, Aggregate Supply and Equilibrium: Part 3 (Macroeconomic Changes and Equilibrium) 132 Lesson 5: Economic Growth and Sustainability 143 Reading 18: Understanding Business Cycles 149 Lesson 1: The Business Cycle 149 Lesson 2: Unemployment, Inflation and Economic Indicators 158 Reading 19: Monetary and Fiscal Policy 171 Lesson 1: Monetary Policy (Part I) 171 Lesson 2: Monetary Policy (Part II) 177 Lesson 3: Fiscal Policy 182 Study Session 6: Economics in a Global Context Reading 20: International Trade and Capital Flows 193 Lesson 1: Basic Terminology, Absolute and Comparative Advantage 193 Lesson 2: Trade and Capital Flows: Restrictions and Agreements 199 Lesson 3: The Balance of Payments and Trade Organizations 206 Reading 21: Currency Exchange Rates 211 Lesson 1: The Foreign Exchange Market 211 Lesson 2: Currency Exchange Rate Calculations: Part 1 217 Lesson 3: Currency Exchange Rate Calculations: Part 2 221 Lesson 4: Exchange Rate Regimes and the Impact of Exchange Rates on Trade and Capital Flows 226