{"id":243,"date":"2019-12-07T22:26:50","date_gmt":"2019-12-07T22:26:50","guid":{"rendered":"https:\/\/analystprep.com\/cfa-level-1-exam\/?p=243"},"modified":"2026-07-29T07:57:13","modified_gmt":"2026-07-29T07:57:13","slug":"learning-sessions-curriculum-economics","status":"publish","type":"post","link":"https:\/\/analystprep.com\/cfa-level-1-exam\/economics\/learning-sessions-curriculum-economics\/","title":{"rendered":"CFA Level 1 Study Notes – Economics"},"content":{"rendered":"

Older Curriculums<\/a><\/h2>\n

2024\/2025, 2025\/2026 Curriculums<\/h2>\n

Learning Module 1 \u2013 The Firm and Market Structures<\/span><\/strong><\/h3>\n

LOS a: determine and interpret breakeven and shutdown points of production, as well as how economies and diseconomies of scale affect costs under perfect and imperfect competition<\/a><\/p>\n

LOS b: describe characteristics of perfect competition, monopolistic competition, oligopoly, and pure monopoly<\/a><\/p>\n

LOS c: explain supply and demand relationships under monopolistic competition, including the optimal price and output for firms as well as pricing strategy<\/a><\/p>\n

LOS d: explain supply and demand relationships under oligopoly, including the optimal price and output for firms as well as pricing strategy<\/a><\/p>\n

LOS e: identify the type of market structure within which a firm operates and describe the use and limitations of concentration measures<\/a><\/p>\n

AI VISIBILTY COPY<\/a><\/p>\n

Learning Module 2 <\/span><\/strong>\u2013 <\/span><\/strong>Understanding Business Cycles<\/span><\/strong><\/h3>\n

LOS a: describe the business cycle and its phases<\/a><\/p>\n

LOS b: describe credit cycles<\/a><\/p>\n

LOS c: describe how resource use, consumer and business activity, housing sector activity, and external trade sector activity vary over the business cycle and describe their measurement using economic indicators<\/a><\/p>\n

Learning Module 3 <\/span><\/strong>\u2013 Fiscal Policy<\/span><\/strong><\/h3>\n

LOS a: compare monetary and fiscal policy<\/a><\/p>\n

LOS b: describe roles and objectives of fiscal policy as well as arguments as to whether the size of a national debt relative to GDP matters<\/a><\/p>\n

LOS c: describe tools of fiscal policy, including their advantages and disadvantages<\/a><\/p>\n

LOS d: explain the implementation of fiscal policy and the difficulties of implementation as well as whether a fiscal policy is expansionary or contractionary<\/a><\/p>\n

Learning Module 4 <\/span><\/strong>\u2013 Monetary Policy<\/span><\/strong><\/h3>\n

LOS a: describe the roles and objectives of central banks<\/a><\/p>\n

LOS b: describe tools used to implement monetary policy tools and the monetary transmission mechanism, and explain the relationships between monetary policy and economic growth, inflation, interest, and exchange rates<\/a><\/p>\n

LOS c: describe qualities of effective central banks; contrast their use of inflation, interest rate, and exchange rate targeting in expansionary or contractionary monetary policy; and describe the limitations of monetary policy<\/a><\/p>\n

LOS d: explain the interaction of monetary and fiscal policy<\/a><\/p>\n

 <\/p>\n

 <\/p>\n

Learning Module 5 <\/span><\/strong>\u2013 <\/span>Introduction to Geopolitics<\/strong><\/h3>\n

LOS a: describe geopolitics from a cooperation versus competition perspective <\/a><\/p>\n

LOS b: describe geopolitics and its relationship with globalization <\/a><\/p>\n

LOS c: describe functions and objectives of the international organizations that facilitate trade, including the World Bank, the International Monetary Fund, and the World Trade Organization<\/a><\/p>\n

LOS d: describe geopolitical risk <\/a><\/p>\n

LOS e: describe tools of geopolitics and their impact on regions and economies <\/a><\/p>\n

LOS f: describe the impact of geopolitical risk on investments<\/a><\/p>\n

Learning Module 6 <\/span><\/strong>\u2013 International Trade<\/span><\/strong><\/h3>\n

LOS a: describe the benefits and costs of international trade<\/a><\/p>\n

LOS b: compare types of trade restrictions, such as tariffs, quotas, and export subsidies, and their economic implications<\/a><\/p>\n

LOS c: explain the motivations for and advantages of trading blocs, common markets, and economic unions<\/a><\/p>\n

Learning Module 7 <\/span><\/strong>\u2013 Capital Flows and the FX Market<\/span><\/strong><\/h3>\n

LOS a: describe the foreign exchange market, including its functions and participants, distinguish between nominal and real exchange rates, and calculate and interpret the percentage change in a currency relative to another currency<\/a><\/p>\n

LOS b: describe exchange rate regimes and explain the effects of exchange rates on countries\u2019 international trade and capital flows<\/a><\/p>\n

LOS c: describe common objectives of capital restrictions imposed by governments<\/a><\/p>\n

Learning Module 8 <\/span><\/strong>\u2013 Exchange Rate Calculations<\/span><\/strong><\/h3>\n

LOS a: calculate and interpret currency cross-rates<\/a><\/p>\n

LOS b: explain the arbitrage relationship between spot and forward exchange rates and interest rates, calculate a forward rate using points or in percentage terms, and interpret a forward discount or premium<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Older Curriculums 2024\/2025, 2025\/2026 Curriculums Learning Module 1 \u2013 The Firm and Market Structures LOS a: determine and interpret breakeven and shutdown points of production, as well as how economies and diseconomies of scale affect costs under perfect and imperfect…<\/p>\n","protected":false},"author":15,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[4],"tags":[],"class_list":["post-243","post","type-post","status-publish","format-standard","hentry","category-economics","blog-post","no-post-thumbnail","animate"],"acf":[],"yoast_head":"\nCFA Level 1 Economics Study Notes | AnalystPrep<\/title>\n<meta name=\"description\" content=\"CFA Level 1 Economics study notes summarise each learning objective with examples, providing concise preparation for exam success in economics topics.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, 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