The economics background investors need to interpret global
economic news distilled to the essential elements: A tool of choice
for investment decision-makers.
Written by a distinguished academics and practitioners selected
and guided by CFA Institute, the world’s largest association
of finance professionals, Economics for Investment Decision
Makers is unique in presenting microeconomics and
macroeconomics with relevance to investors and investment analysts
constantly in mind. The selection of fundamental topics
is comprehensive, while coverage of topics such as international
trade, foreign exchange markets, and currency exchange rate
forecasting reflects global perspectives of pressing investor
importance.
* Concise, plain-English introduction useful to investors and
investment analysts
* Relevant to security analysis, industry analysis, country
analysis, portfolio management, and capital market strategy
* Understand economic news and what it means
* All concepts defined and simply explained, no prior background
in economics assumed
* Abundant examples and illustrations
* Global markets perspective
Cuprins
PART I Learning Outcomes, Summary Overview, and Practice Problems
CHAPTER 1 Demand and Supply Analysis: Introduction 3
Learning Outcomes 3
Summary Overview 3
Practice Problems 5
CHAPTER 2 Demand and Supply Analysis: Consumer Demand 11
Learning Outcomes 11
Summary Overview 11
Practice Problems 12
CHAPTER 3 Demand and Supply Analysis: The Firm 15
Learning Outcomes 15
Summary Overview 15
Practice Problems 16
CHAPTER 4 The Firm and Market Structures 23
Learning Outcomes 23
Summary Overview 23
Practice Problems 24
CHAPTER 5 Aggregate Output, Prices, and Economic Growth 29
Learning Outcomes 29
Summary Overview 29
Practice Problems 32
CHAPTER 6 Understanding Business Cycles 39
Learning Outcomes 39
Summary Overview 39
Practice Problems 41
CHAPTER 7 Monetary and Fiscal Policy 45
Learning Outcomes 45
Summary Overview 45
Practice Problems 47
CHAPTER 8 International Trade and Capital Flows 53
Learning Outcomes 53
Summary Overview 53
Practice Problems 55
CHAPTER 9 Currency Exchange Rates 61
Learning Outcomes 61
Summary Overview 61
Practice Problems 63
CHAPTER 10 Currency Exchange Rates: Determination and Forecasting 67
Learning Outcomes 67
Summary Overview 68
Practice Problems 71
CHAPTER 11 Economic Growth and the Investment Decision 77
Learning Outcomes 77
Summary Overview 77
Practice Problems 79
CHAPTER 12 Economics of Regulation 87
Learning Outcomes 87
Summary Overview 87
Practice Problems 88
PART II Solutions
CHAPTER 1 Demand and Supply Analysis: Introduction 93
Solutions 93
CHAPTER 2 Demand and Supply Analysis: Consumer Demand 97
Solutions 97
CHAPTER 3 Demand and Supply Analysis: The Firm 99
Solutions 99
CHAPTER 4 The Firm and Market Structures 101
Solutions 101
CHAPTER 5 Aggregate Output, Prices, and Economic Growth 103
Solutions 103
CHAPTER 6 Understanding Business Cycles 107
Solutions 107
CHAPTER 7 Monetary and Fiscal Policy 109
Solutions 109
CHAPTER 8 International Trade and Capital Flows 111
Solutions 111
CHAPTER 9 Currency Exchange Rates 115
Solutions 115
CHAPTER 10 Currency Exchange Rates: Determination and Forecasting 119
Solutions 119
CHAPTER 11 Economic Growth and the Investment Decision 123
Solutions 123
CHAPTER 12 Economics of Regulation 127
Solutions 127
About the CFA Program 129
Despre autor
CHRISTOPHER D. PIROS, Ph D, CFA, is the Managing
Director of Investment Strategy and Chairman of the Investment
Policy Committee at Hawthorn, a member of the PNC Financial
Services Group, Inc., which is dedicated to serving the needs of
individuals and families with investable assets in excess of $20
million. Prior to joining PNC, Mr. Piros served on the team
responsible for the curriculum underlying the Chartered Financial
Analyst® designation. He also has served as Director of
Investment Strategy & Portfolio Management at Prudential
Investments LLC, the wealth management services arm of Prudential
Financial. He was a global fixed-income portfolio manager and head
of fixed-income quantitative analysis at MFS Investment
Management.
JERALD E. PINTO, Ph D, CFA, is Director, Curriculum
Projects, in the education division of the CFA Institute. Prior to
joining CFA Institute, he consulted with corporations, foundations,
and partnerships in investment planning, portfolio analysis,
valuation, and quantitative analysis. Pinto also worked in the
investment and banking industries in New York, and taught finance
at NYU Stern School of Business. He holds an MBA from Baruch
College, a Ph D in finance from the Stern School, and is a member of
CFA Virginia.
CFA INSTITUTE is a global, not-for-profit organization
comprising the world’s largest association of investment
professionals. With over 100, 000 members, and regional societies
around the world, CFA Institute is dedicated to developing and
promoting the highest educational, ethical, and professional
standards in the investment industry. CFA Institute offers a range
of educational and career resources, including the Chartered
Financial Analyst (CFA) and the Certificate in Investment
Performance Measurement (CIPM) designations, and is a leading voice
on global issues of fairness, market efficiency, and investor
protection.
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