Economics: Study Session 6
Study Session Materials
Complete List of CFA Program Readings
Topic Overview
Monetary and Fiscal Economics
This study session focuses on the monetary sector of an economy. It examines the functions of money and how it is created, highlighting the special role of the central bank within an economy. Supply and demand for resources, such as labor and capital, and goods are strongly interrelated, and this study session describes circumstances when this may lead to inflation and the transmission mechanisms between the monetary sector and the real part of the economy. Finally, the goals and implications of fiscal and monetary policy are explored by examining some of the main models of macroeconomic theory (Keynesian, classical, and monetarist).
View learning outcome statements (LOS) for reading objectives.
Complete List of CFA Program Readings
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“Money, Banks, and the Federal
Reserve” Ch. 26, Economics, 7th edition, Michael Parkin (Pearson Addison-Wesley, South-Western, 2005) |
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“Money, Interest, Real GDP, and
the Price Level” Ch. 27, Economics, 7th edition, Michael Parkin (Pearson Addison-Wesley, South-Western, 2005) |
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“Inflation” Ch. 28, Economics, 7th edition, Michael Parkin (Pearson Addison-Wesley, South-Western, 2005) |
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“Fiscal Policy” Ch. 31, pp. 740 – 758, Economics, 7th edition, Michael Parkin (Pearson Addison-Wesley, South-Western, 2005) |
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“Monetary Policy” Ch. 32, Economics, 7th edition, Michael Parkin (Pearson Addison-Wesley, South-Western, 2005) |
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