MindMap Gallery CFA Level 1-Study Session Economics
CFA Level 1 - Economics, covering microeconomics, demand, supply, arc elasticity, total cost, break-even. Market structure, long-term equilibrium point. Hope it helps my friends~
Edited at 2023-03-12 11:49:48El cáncer de pulmón es un tumor maligno que se origina en la mucosa bronquial o las glándulas de los pulmones. Es uno de los tumores malignos con mayor morbilidad y mortalidad y mayor amenaza para la salud y la vida humana.
La diabetes es una enfermedad crónica con hiperglucemia como signo principal. Es causada principalmente por una disminución en la secreción de insulina causada por una disfunción de las células de los islotes pancreáticos, o porque el cuerpo es insensible a la acción de la insulina (es decir, resistencia a la insulina), o ambas cosas. la glucosa en la sangre es ineficaz para ser utilizada y almacenada.
El sistema digestivo es uno de los nueve sistemas principales del cuerpo humano y es el principal responsable de la ingesta, digestión, absorción y excreción de los alimentos. Consta de dos partes principales: el tracto digestivo y las glándulas digestivas.
El cáncer de pulmón es un tumor maligno que se origina en la mucosa bronquial o las glándulas de los pulmones. Es uno de los tumores malignos con mayor morbilidad y mortalidad y mayor amenaza para la salud y la vida humana.
La diabetes es una enfermedad crónica con hiperglucemia como signo principal. Es causada principalmente por una disminución en la secreción de insulina causada por una disfunción de las células de los islotes pancreáticos, o porque el cuerpo es insensible a la acción de la insulina (es decir, resistencia a la insulina), o ambas cosas. la glucosa en la sangre es ineficaz para ser utilizada y almacenada.
El sistema digestivo es uno de los nueve sistemas principales del cuerpo humano y es el principal responsable de la ingesta, digestión, absorción y excreción de los alimentos. Consta de dos partes principales: el tracto digestivo y las glándulas digestivas.
Study Session 4-5 Economics
Microeconomics
R8 Topics in Demand and Supply Analysis
1. Demand and Supply
Demand
Law of demand
Supply
Law of supply
Demand Curve and Supply Curve
Curve character
Movement alone
Shift
Demand Curve
Supply Curve
Market Equilibrium price/equilibrium quantity
Below or Above Equilibrium price
Consumer surplus/producer surplus
2. Elasticity
Price Elasticity of Demand
Calculation
point elasticity
Application
arc elasticity
Type
Elastic
Inelastic
unitary elastic
With Revenue
Perfectly elastic/inelastic
Influence factor
Substitutes
Income
time period
Cross elasticity of demand
Calculation
Type
positive for substitute goods
negative for complementary goods
Income elasticity of demand
Calculation
Application
Type
Normal goods
Necessities
Luxuries
Inferior goods
3. Substitution and Income Effects
Substitution effect
Income Effect
Normal good
Inferior good
Giffen goods
Veblen goods
Giffen goods Vs Veblen goods
4. Profit, Revenue, Product, and Cost
Profit
Accounting profit
Economic profit
Implicit cost
Economic cost(Opportunity cost)
Normal profit
Product
Total product(TP)
Average product(AP)
Marginal product(MP)
Law of Diminishing Returns
Revenue
Total revenue(TR)
Average revenue(AR)
Marginal revenue(MR)
Under perfect competition
Under imperfect competition
Cost
Long term & short term
Total cost(TC)
Total fixed cost(TFC)
Total variable cost(TVC)
Average total cost(ATC)
Average fixed cost(AFC)
Average variable cost(AVC)
Marginal cost(MC)
Profit Maximization
5. Breakeven Point and Shutdown Point
Under perfect competition
Under imperfect competition
6. Economies and Diseconomies of scale
R9 The Firm and Market Structures
1. Identification of market structure
2.Perfect competition
Feature
Short-run equilibrium
Long-run equilibrium
3. Monopolistic competition
Feature
Short-run equilibrium
Long-run equilibrium
4.Oligopoly
Feature
Model
Kinked Demand Curve Model
Cournot Model
Nash Equilibrium Model
Prisoners' Dilemma
Duopoly market
Collusion
Dominant Firm Model
5.Monopoly
Feature
Price Discrimination
First-degree price discrimination
Second-degree price discrimination
Third-degree price discrimination
Two-Part tariff
Government regulation
6. Concentration measures
The N-Firm Concentration Ratio
The Herfindahl-Hirschman Index(HHI)
Macroeconomics
R10 Aggregate Output, Prices, and Economic Growth
1.GDP
Definition
GDP and GNP
Nominal & Real GDP
GDP Deflator
GDP Measurement
The value-of-final-output method
The sum-of-value-added method
GDP Calculation
Expenditure approach
Components
Consumption
Marginal propensity to consume (MPC)
Marginal propensity to save (MPS)
Investment
Government purchases
Net export
Calculation
Income approach
Component(1)
Component(2)
Compensation of employees
Gross operating surplus
Gross mixed income
Taxes less subsidies on production
Taxes less subsidies on products and imports
Component(3)
Personal income (household primary income)
House hold disposable income (HDI)
Transfer payments
Household net saving
Balance
2.Aggregate demand and aggregate supply
AD Curves
Wealth effect
Interest rate effect
Money demand
Money supply
Real exchange rate effect
Movement&Shift
AS Curves
VSRAS curve
SRAS curve
LRAS curve
Movement&Shift
Effect of Combination of AD and AS
Long-Run Equilibrium Real Output
Recessionary
Inflationary
Stagflation
Decrease in input prices
3.Economic growth and sustainability
Production Function
Cobb-Douglas production function
Growth in potential GDP (1)
Growth in per-capita potential GDP
Growth in potential GDP (2)
Sources of Economic Growth
Labor supply
Human capital
Physical capital stock
Technology
Natural resources
Public infrastructure
Other factors driving growth
IS curve and LM curve (Old version)
IS Curves
LM Curves
Money Demand
Money Supply
Classification of money
Narrow&Broad money
M1&M2
R11 Understanding Business Cycles
Types of business cycles
Classical cycle
growth cycle
Growth rate cycle
Four phases of business cycle
Recovery
Expansion
Slowdown
Contraction
Credit Cycles
Applications of credit cycles
Consequences for policy
Business Cycle Fluctuations
Unemployment
Capital spending
Inventory to sales ratio
Theories of Business Cycle
Classical school
Neoclassical School
New Classical school
Austrian School
Monetarist School
Keynesian School
New Keynesians(Neo-Keynesians)
Economic Indicators
Leading economic indicators
Average weekly hours, manufacturing
Average weekly initial claims for unemployment insurance
Manufacturers' new orders for consumer goods and materials
ISM new order index
Manufacturers' new orders for non-defense capital goods
Average consumer expectations for business conditions
Building permits for new private housing units
S&P 500 Stock Index
Leading Credit Index
Interest rate spread
Coincident economic indicators
Industrial production index
Real personal incomes
Manufacturing and trade sales
Lagging economic indicators
Avg. duration of unemployment
Inventory to sales ratio
Change in unit labor costs
Inflation
Average prime lending rate
Ratio of consumer installation debt to income
Commercial and industrial loans outstanding loans
Unemployment
Definition
Labor force
Unemployment
Frictional unemployment
Structural unemployment
Cyclical unemployment
the nonaccelerating inflation rate of unemployment(NAIRU)
Underemployed
Discouraged worker
Voluntarily unemployed
Inflation
Definition
Inflation
Hyperinflation
Deflation
Disinflation
Inflation rate
Consumer price index (CPI)
GDP deflator
Headline inflation
Producer price index(PPI)
Wholesale price index(WPI)
Core inflation
CPI Calculation
Laspeyres index calculation
be biased upward
Hedenic Pricing
Paasche index calculation
Fisher index calculation
Special Inflation
Cost-push inflation
Demand-pull Inflation
R12 Monetary and Fiscal Policy
Monetary Policy
Money Multiplier
Classification of Money
Narrow money
M1
Broad money
M2
Central Bank
Role
Objectives
Qualities
Monetary Policy Tools
Policy Rate
Quantity Theory of Money
Fisher Effect
Neutral Interest Rate
Reserve requirements
Open market operations
Monetary Transmission Mechanism
Different Targets Used by Central Banks
Limitation of Monetary Policy
Bond market vigilantes
Liquidity trap
Failure of control
Monetary Policy in Developing Economies
Quantitative Easing (QE)
Developing economies's challenges
Fiscal Policy
Fiscal Policy Tools
Spending Tools
Transfer payments
Current spending
Capital spending
Revenue Tools
Direct taxes
Indirect taxes
Fiscal Multiplier
Application
Limitation of Fiscal Policy
Time Lag
Crowding-out effect
Misreading economic statistics
Supply shortages
Limits to deficits
Multiple targets
Ricardian Equivalence
The size of a national debt relative to GDP
Debt ratio
Interaction of Monetary and Fiscal Policy
international economics
R13 International Trade and Capital Flows
Comparative Advantage and Absolute Advantage
Absolute advantage
Comparative Advantage
The law of comparative advantage
Ricardian model
Heckscher—Ohlin Model
Trade Restrictions
Types of Trade Restrictions
Tariffs
Welfare Effects of an Import Tariff or Quota
Quotas
Minimum domestic content
Export subsidies
Voluntary export restraint(VER)
Capital Restrictions
Balance of Payments (BOP)
Current account
Merchandise trade and services
Income receipts
Unilateral transfers
Capital account
Financial account
International Organization
International Monetary Fund(IMF)
World Bank Group
World Trade Organization(WTO)
Trading Blocs
Free trade areas
Customs union
Common market
economic union
Monetary union
R14 Currency Exchange Rates
Basic Concept and Calculation
Base currency&Price currency
Direct Foreign Exchange Quotations
Indirect Foreign Exchange Quotations
AUD:USD
Application
Nominal and Real Exchange Rate
Application
Application
Buy side&Sell side
Cross Rate
Interest Rate Parity(IRP)
Spot Currency Exchange rate
Forward Currency Exchange rate
Forward Point
Application
Strong&Weak
Arbitrage
Paradox
Exchange Rate Regimes
Have Their Own Currency
Currency board arrangement
Conventional fixed peg arrangement
Target zone
Crawling peg
Passive crawling peg
Active crawling peg
Managed floating exchange rates
Independently floating
Do Not Have Their Own Currency
Dollarization
Monetary union
Impact of Exchange Rates
Elasticity Approach
J-Curve
Absorption Approach