There are 500+ pages in CFAI readings for Econ which only weighs 10% of the total score, so I decided to study for it near the end. Now, I find there’s just not enough time to go through the readings. Any suggestion which part to focus on? Would Elan’s 11th hour be enough and the EOC questions or is there any necessary supplement that I could read? Thanks.
Things that have shown up over and over and over again in all the practice exams I have taken:
Exchange rates - calculating everything about them Oligolopolies Economies of Scale and single firm metrics (ATC, MC, MR) - shutdown point and all that jazz Trade deficit - that whole equation: I = S - (G-T) -(X-M) -> analyzing that in and out Utlity theory - curves, income effect, substitution effect Monetary and Fiscal policy: what would be expansionary vs contractionary Current, Capital, Financial Accounts
This is a good answer - but to be honest, I punted on Econ at L1. Too much stuff for too little reward. I shored up FRA, Equity, FI, and Ethics and had little worry in the exam. I don’t recommend this if you’re shaky in other areas as it is risky, but I despise Econ.
Thats helpful. You got something like this for quants?
Thank you all for you tips. I have a finance background so I am okay with the other subjects, except econ. It maybe because I have not read any section on it at all, thus I am having difficulty understanding the concepts.
How many pages is the Elan Study Notes for Econ? I am thinking if I should still purchase it at this time.
I’d also practice drawing pictures: supply, demand, equilibrium, changes in supply & demand, budget constraints, and so on.
If you can draw it, you’ll get it.