Economics: Study Session 4
Study Session Materials
Complete List of CFA Program Readings
Topic Overview
Microeconomic Analysis
This study session focuses on microeconomic concepts and how firms are affected by these concepts. One of the main concepts related to the equilibrium between demand and supply is elasticity, which measures the dependency between demand and supply and the impact of changes in either on the equilibrium price level. A second key concept is efficiency, which is measure of the firm's "optimal" output given its cost and revenue functions. Understanding these concepts enables analysts to differentiate among various companies on an individual level, and to determine their attractiveness for an investor.
View learning outcome statements (LOS) for reading objectives.
Complete List of CFA Program Readings
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“Elasticity” Ch. 4, Economics, 7th edition, Michael Parkin (Pearson Addison-Wesley, South-Western, 2005) |
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“Efficiency and Equity” Ch. 5, Economics, 7th edition, Michael Parkin (Pearson Addison-Wesley, South-Western, 2005) |
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“Markets in Action” Ch. 6, Economics, 7th edition, Michael Parkin (Pearson Addison-Wesley, South-Western, 2005) |
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“Organizing Production” Ch. 9, Economics, 7th edition, Michael Parkin (Pearson Addison-Wesley, South-Western, 2005) |
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“Output and Costs” Ch. 10, Economics, 7th edition, Michael Parkin (Pearson Addison-Wesley, South-Western, 2005) |
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