{"id":20752,"date":"2021-09-02T15:13:58","date_gmt":"2021-09-02T15:13:58","guid":{"rendered":"https:\/\/analystprep.com\/study-notes\/?p=20752"},"modified":"2022-12-29T10:38:55","modified_gmt":"2022-12-29T10:38:55","slug":"study-notes-for-cfa-level-ii-economics-offered-by-analystprep","status":"publish","type":"post","link":"https:\/\/analystprep.com\/study-notes\/cfa-level-2\/study-notes-for-cfa-level-ii-economics-offered-by-analystprep\/","title":{"rendered":"Study Notes for CFA\u00ae Level II \u2013 Economics \u2013 offered by AnalystPrep"},"content":{"rendered":"\r\n<h2>Reading 8: Currency Exchange Rates: Understanding Equilibrium Value<\/h2>\r\n<p><em><a href=\"https:\/\/analystprep.com\/study-notes\/cfa-level-2\/the-bid-offer-spread\/\" target=\"_blank\" rel=\"noopener\">-a. Calculate and interpret the bid-offer spread on a spot or forward currency quotation and describe the factors that affect the bid-offer spread;<\/a><\/em><\/p>\r\n<p><em><a href=\"https:\/\/analystprep.com\/study-notes\/cfa-level-2\/the-triangular-arbitrage-opportunity\/\" target=\"_blank\" rel=\"noopener\">-b. Identify a triangular arbitrage opportunity and calculate the profit, given the bid-offer quotations for three currencies;<\/a><\/em><\/p>\r\n<p><em><a href=\"https:\/\/analystprep.com\/study-notes\/cfa-level-2\/spot-rate-forward-rate-and-forward-premium-discount\/\" target=\"_blank\" rel=\"noopener\">-c. Explain spot and forward rates and calculate the forward premium\/discount for a given currency;<\/a><\/em><\/p>\r\n<p><em><span lang=\"EN-US\"><a href=\"https:\/\/analystprep.com\/study-notes\/cfa-level-2\/the-mark-to-market-value-of-a-forward-contract\/\" target=\"_blank\" rel=\"noopener\">-d. Calculate the Mark-to-Mark Value of a forward contract;<\/a><\/span><\/em><\/p>\r\n<p><em><a href=\"https:\/\/analystprep.com\/study-notes\/cfa-level-2\/international-parity-conditions\/\" target=\"_blank\" rel=\"noopener\">-e. Explain international parity conditions (covered and uncovered interest parity, forward rate parity, purchasing power parity, and the international Fisher effect);<\/a><\/em><\/p>\r\n<p><em><a href=\"https:\/\/analystprep.com\/study-notes\/cfa-level-2\/the-relationship-among-international-parity-conditions\/\" target=\"_blank\" rel=\"noopener\">-f. Describe the relations among the international parity conditions;<\/a><\/em><\/p>\r\n<p><em><a href=\"https:\/\/analystprep.com\/study-notes\/cfa-level-2\/future-exchange-rates-and-parity-conditions\/\" target=\"_blank\" rel=\"noopener\">-g. Evaluate the use of the current spot the rate, purchasing power parity and uncovered interest parity to forecast future spot rates of exchange;<\/a><\/em><\/p>\r\n<p><a href=\"https:\/\/analystprep.com\/study-notes\/cfa-level-2\/assessing-the-long-run-fair-values-of-an-exchange-rate\/\" target=\"_blank\" rel=\"noopener\"><em>-h. Explain approaches to assessing the long-run fair values of an exchange rate;<\/em><\/a><\/p>\r\n<p><em><span lang=\"EN-US\"><a href=\"https:\/\/analystprep.com\/study-notes\/cfa-level-2\/the-carry-trade\/\" target=\"_blank\" rel=\"noopener\">-i. Describe the carry trade and its relation to uncovered interest rate parity and calculate the profit from the carry trade;<\/a><\/span><\/em><\/p>\r\n<p><em><a href=\"https:\/\/analystprep.com\/study-notes\/cfa-level-2\/balance-of-payments-and-foreign-exchange\/\" target=\"_blank\" rel=\"noopener\">-j. Explain how flows in the balance of payment accounts affect currency exchange rates;<\/a><\/em><\/p>\r\n<p><em><a href=\"https:\/\/analystprep.com\/study-notes\/cfa-level-2\/the-monetary-and-fiscal-policies-and-determination-of-exchange-rates\/\" target=\"_blank\" rel=\"noopener\">-k. Explain the potential effects of monetary and fiscal policy on exchange rates;<\/a><\/em><\/p>\r\n<p><em><a href=\"https:\/\/analystprep.com\/study-notes\/cfa-level-2\/exchange-rate-intervention-and-controls\/\" target=\"_blank\" rel=\"noopener\">-l. Describe objectives of the central bank or government intervention and capital controls and describe the effectiveness of the intervention and capital controls;<\/a><\/em><\/p>\r\n<p><em><a href=\"https:\/\/analystprep.com\/study-notes\/cfa-level-2\/the-currency-crisis\/\" target=\"_blank\" rel=\"noopener\">-m. Describe warning signs of a currency crisis;<\/a><\/em><\/p>\r\n<h2>Reading 9: Economic Growth\u00a0<\/h2>\r\n<p><em><a href=\"https:\/\/analystprep.com\/study-notes\/cfa-level-2\/economic-growth-in-the-developed-and-developed-economies\/\" target=\"_blank\" rel=\"noopener\">-a. Compare factors favoring and limiting economic growth in developed and developing economies;<\/a><\/em><\/p>\r\n<p><em><a href=\"https:\/\/analystprep.com\/study-notes\/cfa-level-2\/relationship-between-long-run-rate-of-stock-market-appreciation-and-sustainable-growth-rate\/\" target=\"_blank\" rel=\"noopener\">-b. Describe the relationship between the long-run rate of stock market appreciation and the sustainable growth rate of the economy;<\/a><\/em><\/p>\r\n<p><em><a href=\"https:\/\/analystprep.com\/study-notes\/cfa-level-2\/effects-of-potential-gdp-growth-rate-on-equity-and-fixed-income\/\" target=\"_blank\" rel=\"noopener\">-c. Explain why potential GDP and its growth rate matter for equity and fixed income investors;<\/a><\/em><\/p>\r\n<p><em><a href=\"https:\/\/analystprep.com\/study-notes\/cfa-level-2\/capital-deepening-and-technological-progress\/\" target=\"_blank\" rel=\"noopener\">-d. Contrast capital deepening investment and technological progress and explain how each affects economic growth and labor productivity;<\/a><\/em><\/p>\r\n<p><em><a href=\"https:\/\/analystprep.com\/study-notes\/cfa-level-2\/growth-accounting-relations\/\" target=\"_blank\" rel=\"noopener\">-e. Demonstrate forecasting potential GDP based on growth accounting relations;<\/a><\/em><\/p>\r\n<p><em><a href=\"https:\/\/analystprep.com\/study-notes\/cfa-level-2\/effect-of-natural-resources-on-economic-growth\/\" target=\"_blank\" rel=\"noopener\">-f. Effect of Natural Resources on Economic Growth;<\/a><\/em><\/p>\r\n<p><em><a href=\"https:\/\/analystprep.com\/study-notes\/cfa-level-2\/effects-of-demographics-immigration-and-labor-force-participation-on-the-rate-and-sustainability-of-economic-growth\/\" target=\"_blank\" rel=\"noopener\">-g. Explain how demographics, immigration, and labor force participation affect the rate and sustainability of economic growth;<\/a><\/em><\/p>\r\n<p><em><a href=\"https:\/\/analystprep.com\/study-notes\/cfa-level-2\/effects-of-investment-in-physical-capital-human-capital-and-technological-development-on-economic-growth\/\" target=\"_blank\" rel=\"noopener\">-h. Explain how investment in physical capital, human capital, and technological development affects economic growth;<\/a><\/em><\/p>\r\n<p><em><a href=\"https:\/\/analystprep.com\/study-notes\/cfa-level-2\/theories-of-growth\/\" target=\"_blank\" rel=\"noopener\">-i. Compare classical growth theory, neoclassical growth theory, and endogenous growth theory;<\/a><\/em><\/p>\r\n<p><em><a href=\"https:\/\/analystprep.com\/study-notes\/cfa-level-2\/convergence-hypotheses\/\" target=\"_blank\" rel=\"noopener\">-j. Explain and evaluate convergence hypotheses;<\/a><\/em><\/p>\r\n<p><em><a href=\"https:\/\/analystprep.com\/study-notes\/cfa-level-2\/the-rationale-for-government-incentives\/\" target=\"_blank\" rel=\"noopener\">-k. Describe the economic rationale for governments to provide incentives to private investment in technology and knowledge;<\/a><\/em><\/p>\r\n<p><em><a href=\"https:\/\/analystprep.com\/study-notes\/cfa-level-2\/growth-in-an-open-economy\/\" target=\"_blank\" rel=\"noopener\">-l. Describe the expected impact of removing trade barriers on capital investment and profits, employment and wages, and growth in the economies involved.<\/a><\/em><\/p>\r\n<h2>Reading 10: Economics of Regulation<\/h2>\r\n<p><em><a href=\"https:\/\/analystprep.com\/study-notes\/cfa-level-2\/economic-rationale-for-regulatory-intervention\/\" target=\"_blank\" rel=\"noopener\">-a. Describe the economic rationale for regulatory intervention;<\/a><\/em><\/p>\r\n<p><em><a href=\"https:\/\/analystprep.com\/study-notes\/cfa-level-2\/regulation-of-commerce-and-financial-markets\/\" target=\"_blank\" rel=\"noopener\">-b. Explain the purposes of regulating commerce and financial markets;<\/a><\/em><\/p>\r\n<p><em><a href=\"https:\/\/analystprep.com\/study-notes\/cfa-level-2\/antitrust-regulation\/\" target=\"_blank\" rel=\"noopener\">-c. Describe anticompetitive behaviors targeted by antitrust laws globally and evaluate the antitrust risk associated with a given business strategy;<\/a><\/em><\/p>\r\n<p><em><a href=\"https:\/\/analystprep.com\/study-notes\/cfa-level-2\/classifications-of-regulations-and-regulators\/\" target=\"_blank\" rel=\"noopener\">-d. Describe classifications of regulations and regulators;<\/a><\/em><\/p>\r\n<p><em><a href=\"https:\/\/analystprep.com\/study-notes\/cfa-level-2\/uses-of-self-regulation\/\" target=\"_blank\" rel=\"noopener\">-e. Describe uses of self-regulation in financial markets;<\/a><\/em><\/p>\r\n<p><em><a href=\"https:\/\/analystprep.com\/study-notes\/cfa-level-2\/the-regulatory-interdependencies\/\" target=\"_blank\" rel=\"noopener\">-f. Describe regulatory interdependencies and their effects;<\/a><\/em><\/p>\r\n<p><em><a href=\"https:\/\/analystprep.com\/study-notes\/cfa-level-2\/the-regulatory-tools\/\" target=\"_blank\" rel=\"noopener\">-g. Describe tools of regulatory intervention in markets;<\/a><\/em><\/p>\r\n<p><em><a href=\"https:\/\/analystprep.com\/study-notes\/cfa-level-2\/benefits-and-costs-of-regulation\/\" target=\"_blank\" rel=\"noopener\">-h. Describe benefits and costs of regulation;<\/a><\/em><\/p>\r\n<p><em><a href=\"https:\/\/analystprep.com\/study-notes\/cfa-level-2\/considerations-when-evaluating-the-effects-of-regulation\/\" target=\"_blank\" rel=\"noopener\">-i. Describe the considerations when evaluating the effects of regulation on an industry.<\/a><\/em><\/p>\r\n","protected":false},"excerpt":{"rendered":"<p>Reading 8: Currency Exchange Rates: Understanding Equilibrium Value -a. Calculate and interpret the bid-offer spread on a spot or forward currency quotation and describe the factors that affect the bid-offer spread; -b. Identify a triangular arbitrage opportunity and calculate the&#8230;<\/p>\n","protected":false},"author":4,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[102,494],"tags":[216,502,503,520,538],"class_list":["post-20752","post","type-post","status-publish","format-standard","hentry","category-cfa-level-2","category-economics","tag-cfa-level-2","tag-economics","tag-reading-10-currency-exchange-rates","tag-reading-11-economic-growth-and-the-investment-decision","tag-reading-12-economics-of-regulation","blog-post","no-post-thumbnail","animate"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.9 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Study Notes for CFA\u00ae Level II \u2013 Economics \u2013 offered by AnalystPrep - CFA, FRM, and Actuarial Exams Study Notes<\/title>\n<meta name=\"description\" content=\"Reading 10, Reading 11, Reading 12\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/analystprep.com\/study-notes\/cfa-level-2\/study-notes-for-cfa-level-ii-economics-offered-by-analystprep\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Study Notes for CFA\u00ae Level II \u2013 Economics \u2013 offered by AnalystPrep - 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