{"product_id":"cfa-program-curriculum-2020-level-ii-volumes-1-6-box-set-isbn-9781946442956","title":"CFA Program Curriculum 2020 Level II, Volumes 1-6 Box Set","description":"\u003cp\u003e\u003cb\u003eAll CFA\u003c\/b\u003e\u003cb\u003e® Program exams through November 2021 will reflect the 2020 curriculum. Purchase your copy and begin studying for Level II now!\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eThe \u003ci\u003eCFA\u003c\/i\u003e\u003ci\u003e® Program Curriculum 2020 Level II Box Set \u003c\/i\u003eprovides candidates and other motivated investment professionals with the official curriculum tested on the Level II CFA exam. This set includes practical instruction on the 10 core topics covered in the Candidate Body of Knowledge (CBOK) to prepare readers for their 2020 or 2021 Level II exam windows. Beyond the fundamentals, this set also offers expert guidance on how the CBOK is applied in practice.\u003c\/p\u003e \u003cp\u003eThe Level II CFA® Program Curriculum focuses on complex analysis and asset valuation; it is designed to help candidates use essential investment concepts in real-world situations analysts encounter in the field. Topics explored in this box set include ethical and professional standards, quantitative analysis, economics, financial reporting and analysis, corporate finance, equities, fixed income, derivatives, alternative investments, and portfolio management.\u003c\/p\u003e \u003cp\u003eVisuals like charts, graphs, figures, and diagrams illustrate complex material covered on the Level II exam, and practice questions with answers help you understand your study progress while reinforcing important content.\u003c\/p\u003e \u003cp\u003eThe \u003ci\u003eCFA® Program Curriculum 2020 Level II Box Set \u003c\/i\u003ebuilds from the foundational investment skills covered in Level I. This set helps you:\u003c\/p\u003e \u003cul\u003e \u003cli\u003eIncorporate analysis skills into case evaluations\u003c\/li\u003e \u003cli\u003eMaster complex calculations and quantitative techniques\u003c\/li\u003e \u003cli\u003eUnderstand the international standards used for valuation and analysis\u003c\/li\u003e \u003cli\u003eGauge your skills and understanding against each Learning Outcome Statement\u003c\/li\u003e \u003c\/ul\u003e \u003cp\u003ePerfect for anyone considering the CFA® designation or currently preparing for a 2021 exam window, the 2\u003ci\u003e020 Level II Box Set\u003c\/i\u003e is a must-have resource for applying the skills required to become a Chartered Financial Analyst®.\u003c\/p\u003e \u003cp\u003eHow to Use the CFA Program Curriculum ix\u003c\/p\u003e \u003cp\u003eCurriculum Development Process ix\u003c\/p\u003e \u003cp\u003eOrganization of the Curriculum x\u003c\/p\u003e \u003cp\u003eFeatures of the Curriculum x\u003c\/p\u003e \u003cp\u003eDesigning Your Personal Study Program xi\u003c\/p\u003e \u003cp\u003eFeedback xiii\u003c\/p\u003e \u003cp\u003e\u003cb\u003eEthical and Professional Standards\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e\u003cb\u003eStudy Session 1 Ethical and Professional Standards (1) 3\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e\u003cb\u003eReading 1 Code of Ethics and Standards of Professional Conduct 5\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003ePreface 5\u003c\/p\u003e \u003cp\u003eEvolution of the CFA Institute Code of Ethics and Standards of Professional Conduct 6\u003c\/p\u003e \u003cp\u003e\u003ci\u003eStandards of Practice Handbook\u003c\/i\u003e 6\u003c\/p\u003e \u003cp\u003eSummary of Changes in the Eleventh Edition 7\u003c\/p\u003e \u003cp\u003eCFA Institute Professional Conduct Program 9\u003c\/p\u003e \u003cp\u003eAdoption of the Code and Standards 10\u003c\/p\u003e \u003cp\u003eAcknowledgments 10\u003c\/p\u003e \u003cp\u003eEthics and the Investment Industry 11\u003c\/p\u003e \u003cp\u003eWhy Ethics Matters 11\u003c\/p\u003e \u003cp\u003eCFA Institute Code of Ethics and Standards of Professional Conduct 15\u003c\/p\u003e \u003cp\u003ePreamble 15\u003c\/p\u003e \u003cp\u003eThe Code of Ethics 15\u003c\/p\u003e \u003cp\u003eStandards of Professional Conduct 16\u003c\/p\u003e \u003cp\u003e\u003cb\u003eReading 2 Guidance for Standards I–VII 21\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eStandard I: Professionalism 21\u003c\/p\u003e \u003cp\u003eStandard I(A) Knowledge of the Law 21\u003c\/p\u003e \u003cp\u003eGuidance 21\u003c\/p\u003e \u003cp\u003eRecommended Procedures for Compliance 26\u003c\/p\u003e \u003cp\u003eApplication of the Standard 27\u003c\/p\u003e \u003cp\u003eStandard I(B) Independence and Objectivity 30\u003c\/p\u003e \u003cp\u003eGuidance 30\u003c\/p\u003e \u003cp\u003eRecommended Procedures for Compliance 35\u003c\/p\u003e \u003cp\u003eApplication of the Standard 36\u003c\/p\u003e \u003cp\u003eStandard I(C) Misrepresentation 43\u003c\/p\u003e \u003cp\u003eGuidance 43\u003c\/p\u003e \u003cp\u003eRecommended Procedures for Compliance 46\u003c\/p\u003e \u003cp\u003eApplication of the Standard 48\u003c\/p\u003e \u003cp\u003eStandard I(D) Misconduct 53\u003c\/p\u003e \u003cp\u003eGuidance 53\u003c\/p\u003e \u003cp\u003eRecommended Procedures for Compliance 54\u003c\/p\u003e \u003cp\u003eApplication of the Standard 54\u003c\/p\u003e \u003cp\u003eStandard II: Integrity of Capital Markets 56\u003c\/p\u003e \u003cp\u003eStandard II(A) Material Nonpublic Information 56\u003c\/p\u003e \u003cp\u003eGuidance 56\u003c\/p\u003e \u003cp\u003eRecommended Procedures for Compliance 60\u003c\/p\u003e \u003cp\u003eApplication of the Standard 63\u003c\/p\u003e \u003cp\u003eStandard II(B) Market Manipulation 68\u003c\/p\u003e \u003cp\u003eGuidance 68\u003c\/p\u003e \u003cp\u003eApplication of the Standard 69\u003c\/p\u003e \u003cp\u003eStandard III: Duties to Clients 73\u003c\/p\u003e \u003cp\u003eStandard III(A) Loyalty, Prudence, and Care 73\u003c\/p\u003e \u003cp\u003eGuidance 73\u003c\/p\u003e \u003cp\u003eRecommended Procedures for Compliance 77\u003c\/p\u003e \u003cp\u003eApplication of the Standard 78\u003c\/p\u003e \u003cp\u003eStandard III(B) Fair Dealing 82\u003c\/p\u003e \u003cp\u003eGuidance 82\u003c\/p\u003e \u003cp\u003eRecommended Procedures for Compliance 84\u003c\/p\u003e \u003cp\u003eApplication of the Standard 86\u003c\/p\u003e \u003cp\u003eStandard III(C) Suitability 90\u003c\/p\u003e \u003cp\u003eGuidance 90\u003c\/p\u003e \u003cp\u003eRecommended Procedures for Compliance 93\u003c\/p\u003e \u003cp\u003eApplication of the Standard 94\u003c\/p\u003e \u003cp\u003eStandard III(D) Performance Presentation 97\u003c\/p\u003e \u003cp\u003eGuidance 97\u003c\/p\u003e \u003cp\u003eRecommended Procedures for Compliance 98\u003c\/p\u003e \u003cp\u003eApplication of the Standard 98\u003c\/p\u003e \u003cp\u003eStandard III(E) Preservation of Confidentiality 101\u003c\/p\u003e \u003cp\u003eGuidance 101\u003c\/p\u003e \u003cp\u003eRecommended Procedures for Compliance 103\u003c\/p\u003e \u003cp\u003eApplication of the Standard 103\u003c\/p\u003e \u003cp\u003eStandard IV: Duties to Employers 105\u003c\/p\u003e \u003cp\u003eStandard IV(A) Loyalty 105\u003c\/p\u003e \u003cp\u003eGuidance 105\u003c\/p\u003e \u003cp\u003eRecommended Procedures for Compliance 109\u003c\/p\u003e \u003cp\u003eApplication of the Standard 109\u003c\/p\u003e \u003cp\u003eStandard IV(B) Additional Compensation Arrangements 116\u003c\/p\u003e \u003cp\u003eGuidance 116\u003c\/p\u003e \u003cp\u003eRecommended Procedures for Compliance 116\u003c\/p\u003e \u003cp\u003eApplication of the Standard 116\u003c\/p\u003e \u003cp\u003eStandard IV(C) Responsibilities of Supervisors 118\u003c\/p\u003e \u003cp\u003eGuidance 118\u003c\/p\u003e \u003cp\u003eRecommended Procedures for Compliance 120\u003c\/p\u003e \u003cp\u003eApplication of the Standard 122\u003c\/p\u003e \u003cp\u003eStandard V: Investment Analysis, Recommendations, and Actions 126\u003c\/p\u003e \u003cp\u003eStandard V(A) Diligence and Reasonable Basis 126\u003c\/p\u003e \u003cp\u003eGuidance 126\u003c\/p\u003e \u003cp\u003eRecommended Procedures for Compliance 130\u003c\/p\u003e \u003cp\u003eApplication of the Standard 130\u003c\/p\u003e \u003cp\u003eStandard V(B) Communication with Clients and Prospective Clients 137\u003c\/p\u003e \u003cp\u003eGuidance 138\u003c\/p\u003e \u003cp\u003eRecommended Procedures for Compliance 140\u003c\/p\u003e \u003cp\u003eApplication of the Standard 141\u003c\/p\u003e \u003cp\u003eStandard V(C) Record Retention 146\u003c\/p\u003e \u003cp\u003eGuidance 146\u003c\/p\u003e \u003cp\u003eRecommended Procedures for Compliance 147\u003c\/p\u003e \u003cp\u003eApplication of the Standard 148\u003c\/p\u003e \u003cp\u003eStandard VI: Conflicts of Interest 149\u003c\/p\u003e \u003cp\u003eStandard VI(A) Disclosure of Conflicts 149\u003c\/p\u003e \u003cp\u003eGuidance 149\u003c\/p\u003e \u003cp\u003eRecommended Procedures for Compliance 152\u003c\/p\u003e \u003cp\u003eApplication of the Standard 152\u003c\/p\u003e \u003cp\u003eStandard VI(B) Priority of Transactions 157\u003c\/p\u003e \u003cp\u003eGuidance 157\u003c\/p\u003e \u003cp\u003eRecommended Procedures for Compliance 158\u003c\/p\u003e \u003cp\u003eApplication of the Standard 160\u003c\/p\u003e \u003cp\u003eStandard VI(C) Referral Fees 162\u003c\/p\u003e \u003cp\u003eGuidance 162\u003c\/p\u003e \u003cp\u003eRecommended Procedures for Compliance 162\u003c\/p\u003e \u003cp\u003eApplication of the Standard 162\u003c\/p\u003e \u003cp\u003eStandard VII: Responsibilities as a CFA Institute Member or CFA Candidate 165\u003c\/p\u003e \u003cp\u003eStandard VII(A) Conduct as Participants in CFA Institute Programs 165\u003c\/p\u003e \u003cp\u003eGuidance 165\u003c\/p\u003e \u003cp\u003eApplication of the Standard 167\u003c\/p\u003e \u003cp\u003eStandard VII(B) Reference to CFA Institute, the CFA Designation, and the CFA Program 170\u003c\/p\u003e \u003cp\u003eGuidance 170\u003c\/p\u003e \u003cp\u003eRecommended Procedures for Compliance 172\u003c\/p\u003e \u003cp\u003eApplication of the Standard 173\u003c\/p\u003e \u003cp\u003ePractice Problems 175\u003c\/p\u003e \u003cp\u003eSolutions 193\u003c\/p\u003e \u003cp\u003e\u003cb\u003eStudy Session 2 Ethical and Professional Standards (2) 205\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e\u003cb\u003eReading 3 Application of the Code and Standards 207\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eIntroduction 207\u003c\/p\u003e \u003cp\u003eEdvard Stark 208\u003c\/p\u003e \u003cp\u003eDuties to Clients 209\u003c\/p\u003e \u003cp\u003eDuties to Employers 210\u003c\/p\u003e \u003cp\u003eInvestment Analysis, Recommendations, and Actions 211\u003c\/p\u003e \u003cp\u003eConflicts of Interest 211\u003c\/p\u003e \u003cp\u003eSubath Agarway 212\u003c\/p\u003e \u003cp\u003eProfessionalism 214\u003c\/p\u003e \u003cp\u003eConflicts of Interest 215\u003c\/p\u003e \u003cp\u003ePeter Sherman 216\u003c\/p\u003e \u003cp\u003eLoyalty to One’s Employer 217\u003c\/p\u003e \u003cp\u003eSolicitation of Clients and Prospects 218\u003c\/p\u003e \u003cp\u003eMisappropriation of Employer Property 218\u003c\/p\u003e \u003cp\u003eDisclosure of Additional Compensation and Conflicts 219\u003c\/p\u003e \u003cp\u003ePreston Partners 220\u003c\/p\u003e \u003cp\u003eResponsibilities to Clients and Interactions with Clients 221\u003c\/p\u003e \u003cp\u003eAllocation of Trades 222\u003c\/p\u003e \u003cp\u003eResponsibilities of Supervisors 223\u003c\/p\u003e \u003cp\u003eSuper Selection 224\u003c\/p\u003e \u003cp\u003eResponsibilities of Supervisors 225\u003c\/p\u003e \u003cp\u003eEmployees and the Employer\/Supervisor 226\u003c\/p\u003e \u003cp\u003eReasonable Basis 227\u003c\/p\u003e \u003cp\u003eDuties to Clients 227\u003c\/p\u003e \u003cp\u003eInvestment Recommendations and Actions 227\u003c\/p\u003e \u003cp\u003ePriority of Transactions 228\u003c\/p\u003e \u003cp\u003e\u003cb\u003eReading 4 Trade Allocation: Fair Dealing and Disclosure 229\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e\u003cb\u003eReading 5 Changing Investment Objectives 233\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e\u003cb\u003eQuantitative Methods\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e\u003cb\u003eStudy Session 3 Quantitative Methods 237\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e\u003cb\u003eReading 6 Fintech in Investment Management 239\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eIntroduction 239\u003c\/p\u003e \u003cp\u003eWhat Is Fintech? 240\u003c\/p\u003e \u003cp\u003eBig Data 241\u003c\/p\u003e \u003cp\u003eSources of Big Data 242\u003c\/p\u003e \u003cp\u003eBig Data Challenges 244\u003c\/p\u003e \u003cp\u003eAdvanced Analytical Tools: Artificial Intelligence and Machine Learning 244\u003c\/p\u003e \u003cp\u003eTypes of Machine Learning 245\u003c\/p\u003e \u003cp\u003eData Science: Extracting Information from Big Data 247\u003c\/p\u003e \u003cp\u003eData Processing Methods 247\u003c\/p\u003e \u003cp\u003eData Visualization 247\u003c\/p\u003e \u003cp\u003eSelected Applications of Fintech to Investment Management 249\u003c\/p\u003e \u003cp\u003eText Analytics and Natural Language Processing 249\u003c\/p\u003e \u003cp\u003eRobo-Advisory Services 250\u003c\/p\u003e \u003cp\u003eRisk Analysis 252\u003c\/p\u003e \u003cp\u003eAlgorithmic Trading 253\u003c\/p\u003e \u003cp\u003eDistributed Ledger Technology 253\u003c\/p\u003e \u003cp\u003ePermissioned and Permissionless Networks 255\u003c\/p\u003e \u003cp\u003eApplications of Distributed Ledger Technology to Investment Management 256\u003c\/p\u003e \u003cp\u003eSummary 257\u003c\/p\u003e \u003cp\u003ePractice Problems 259\u003c\/p\u003e \u003cp\u003eSolutions 261\u003c\/p\u003e \u003cp\u003e\u003cb\u003eReading 7 Correlation and Regression 263\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eIntroduction 264\u003c\/p\u003e \u003cp\u003eCorrelation Analysis 264\u003c\/p\u003e \u003cp\u003eScatter Plots 264\u003c\/p\u003e \u003cp\u003eCorrelation Analysis 265\u003c\/p\u003e \u003cp\u003eCalculating and Interpreting the Correlation Coefficient 268\u003c\/p\u003e \u003cp\u003eLimitations of Correlation Analysis 270\u003c\/p\u003e \u003cp\u003eUses of Correlation Analysis 273\u003c\/p\u003e \u003cp\u003eTesting the Significance of the Correlation Coefficient 282\u003c\/p\u003e \u003cp\u003eLinear Regression 285\u003c\/p\u003e \u003cp\u003eLinear Regression with One Independent Variable 286\u003c\/p\u003e \u003cp\u003eAssumptions of the Linear Regression Model 289\u003c\/p\u003e \u003cp\u003eThe Standard Error of Estimate 292\u003c\/p\u003e \u003cp\u003eThe Coefficient of Determination 295\u003c\/p\u003e \u003cp\u003eHypothesis Testing 297\u003c\/p\u003e \u003cp\u003eAnalysis of Variance in a Regression with One Independent Variable 305\u003c\/p\u003e \u003cp\u003ePrediction Intervals 308\u003c\/p\u003e \u003cp\u003eLimitations of Regression Analysis 311\u003c\/p\u003e \u003cp\u003eSummary 311\u003c\/p\u003e \u003cp\u003ePractice Problems 314\u003c\/p\u003e \u003cp\u003eSolutions 323\u003c\/p\u003e \u003cp\u003e\u003cb\u003eReading 8 Multiple Regression and Machine Learning 327\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eIntroduction 328\u003c\/p\u003e \u003cp\u003eMultiple Linear Regression 328\u003c\/p\u003e \u003cp\u003eAssumptions of the Multiple Linear Regression Model 334\u003c\/p\u003e \u003cp\u003ePredicting the Dependent Variable in a Multiple Regression Model 339\u003c\/p\u003e \u003cp\u003eTesting whether All Population Regression Coefficients Equal Zero 341\u003c\/p\u003e \u003cp\u003eAdjusted \u003ci\u003eR\u003c\/i\u003e\u003csup\u003e2\u003c\/sup\u003e 343\u003c\/p\u003e \u003cp\u003eUsing Dummy Variables in Regressions 344\u003c\/p\u003e \u003cp\u003eViolations of Regression Assumptions 348\u003c\/p\u003e \u003cp\u003eHeteroskedasticity 349\u003c\/p\u003e \u003cp\u003eSerial Correlation 355\u003c\/p\u003e \u003cp\u003eMulticollinearity 359\u003c\/p\u003e \u003cp\u003eHeteroskedasticity, Serial Correlation, Multicollinearity: Summarizing the Issues 362\u003c\/p\u003e \u003cp\u003eModel Specification and Errors in Specification 363\u003c\/p\u003e \u003cp\u003ePrinciples of Model Specification 363\u003c\/p\u003e \u003cp\u003eMisspecified Functional Form 364\u003c\/p\u003e \u003cp\u003eTime-Series Misspecification (Independent Variables Correlated with Errors) 372\u003c\/p\u003e \u003cp\u003eOther Types of Time-Series Misspecification 376\u003c\/p\u003e \u003cp\u003eModels with Qualitative Dependent Variables 376\u003c\/p\u003e \u003cp\u003eMachine Learning 378\u003c\/p\u003e \u003cp\u003eMajor Focuses of Data Analytics 379\u003c\/p\u003e \u003cp\u003eWhat Is Machine Learning? 380\u003c\/p\u003e \u003cp\u003eTypes of Machine Learning 381\u003c\/p\u003e \u003cp\u003eMachine Learning Algorithms 383\u003c\/p\u003e \u003cp\u003eSupervised Machine Learning: Training 390\u003c\/p\u003e \u003cp\u003eSummary 391\u003c\/p\u003e \u003cp\u003ePractice Problems 396\u003c\/p\u003e \u003cp\u003eSolutions 421\u003c\/p\u003e \u003cp\u003eReading 9 Time-Series Analysis 433\u003c\/p\u003e \u003cp\u003eIntroduction to Time-Series Analysis 434\u003c\/p\u003e \u003cp\u003eChallenges of Working with Time Series 436\u003c\/p\u003e \u003cp\u003eTrend Models 437\u003c\/p\u003e \u003cp\u003eLinear Trend Models 437\u003c\/p\u003e \u003cp\u003eLog-Linear Trend Models 440\u003c\/p\u003e \u003cp\u003eTrend Models and Testing for Correlated Errors 446\u003c\/p\u003e \u003cp\u003eAutoregressive (AR) Time-Series Models 447\u003c\/p\u003e \u003cp\u003eCovariance-Stationary Series 448\u003c\/p\u003e \u003cp\u003eDetecting Serially Correlated Errors in an Autoregressive Model 449\u003c\/p\u003e \u003cp\u003eMean Reversion 452\u003c\/p\u003e \u003cp\u003eMultiperiod Forecasts and the Chain Rule of Forecasting 453\u003c\/p\u003e \u003cp\u003eComparing Forecast Model Performance 456\u003c\/p\u003e \u003cp\u003eInstability of Regression Coefficients 458\u003c\/p\u003e \u003cp\u003eRandom Walks and Unit Roots 461\u003c\/p\u003e \u003cp\u003eRandom Walks 461\u003c\/p\u003e \u003cp\u003eThe Unit Root Test of Nonstationarity 465\u003c\/p\u003e \u003cp\u003eMoving-Average Time-Series Models 469\u003c\/p\u003e \u003cp\u003eSmoothing Past Values with an \u003ci\u003en\u003c\/i\u003e-Period Moving Average 470\u003c\/p\u003e \u003cp\u003eMoving-Average Time-Series Models for Forecasting 472\u003c\/p\u003e \u003cp\u003eSeasonality in Time-Series Models 474\u003c\/p\u003e \u003cp\u003eAutoregressive Moving-Average Models 480\u003c\/p\u003e \u003cp\u003eAutoregressive Conditional Heteroskedasticity Models 481\u003c\/p\u003e \u003cp\u003eRegressions with More than One Time Series 484\u003c\/p\u003e \u003cp\u003eOther Issues in Time Series 488\u003c\/p\u003e \u003cp\u003eSuggested Steps in Time-Series Forecasting 489\u003c\/p\u003e \u003cp\u003eSummary 490\u003c\/p\u003e \u003cp\u003ePractice Problems 494\u003c\/p\u003e \u003cp\u003eSolutions 510\u003c\/p\u003e \u003cp\u003e\u003cb\u003eReading 10 Excerpt from “Probabilistic Approaches: Scenario Analysis, Decision Trees, and Simulations” 519\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eIntroduction 519\u003c\/p\u003e \u003cp\u003eSimulations 520\u003c\/p\u003e \u003cp\u003eSteps in Simulation 520\u003c\/p\u003e \u003cp\u003eAn Example of a Simulation 523\u003c\/p\u003e \u003cp\u003eUse in Decision Making 526\u003c\/p\u003e \u003cp\u003eSimulations with Constraints 527\u003c\/p\u003e \u003cp\u003eIssues 528\u003c\/p\u003e \u003cp\u003eRisk-Adjusted Value and Simulations 529\u003c\/p\u003e \u003cp\u003eAn Overall Assessment of Probabilistic Risk Assessment Approaches 530\u003c\/p\u003e \u003cp\u003eComparing the Approaches 530\u003c\/p\u003e \u003cp\u003eComplement or Replacement for Risk-Adjusted Value 531\u003c\/p\u003e \u003cp\u003eIn Practice 532\u003c\/p\u003e \u003cp\u003eConclusion 533\u003c\/p\u003e \u003cp\u003e\u003cb\u003eEconomics\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e\u003cb\u003eStudy Session 4 Economics 537\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e\u003cb\u003eReading 11 Currency Exchange Rates: Understanding Equilibrium Value 539\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eIntroduction 540\u003c\/p\u003e \u003cp\u003eForeign Exchange Market Concepts 540\u003c\/p\u003e \u003cp\u003eArbitrage Constraints on Spot Exchange Rate Quotes 544\u003c\/p\u003e \u003cp\u003eForward Markets 548\u003c\/p\u003e \u003cp\u003eThe Mark-to-Market Value of a Forward Contract 552\u003c\/p\u003e \u003cp\u003eA Long-Term Framework for Exchange Rates 556\u003c\/p\u003e \u003cp\u003eInternational Parity Conditions 557\u003c\/p\u003e \u003cp\u003eThe Carry Trade 572\u003c\/p\u003e \u003cp\u003eThe Impact of Balance of Payments Flows 575\u003c\/p\u003e \u003cp\u003eCurrent Account Imbalances and the Determination of Exchange Rates 576\u003c\/p\u003e \u003cp\u003eCapital Flows and the Determination of Exchange Rates 579\u003c\/p\u003e \u003cp\u003eMonetary and Fiscal Policies 585\u003c\/p\u003e \u003cp\u003eThe Mundell–Fleming Model 585\u003c\/p\u003e \u003cp\u003eMonetary Models of Exchange Rate Determination 587\u003c\/p\u003e \u003cp\u003eThe Portfolio Balance Approach 590\u003c\/p\u003e \u003cp\u003eExchange Rate Management: Intervention and Controls 593\u003c\/p\u003e \u003cp\u003eWarning Signs of a Currency Crisis 596\u003c\/p\u003e \u003cp\u003eSummary 600\u003c\/p\u003e \u003cp\u003eAppendix 605\u003c\/p\u003e \u003cp\u003ePractice Problems 606\u003c\/p\u003e \u003cp\u003eSolutions 614\u003c\/p\u003e \u003cp\u003e\u003cb\u003eReading 12 Economic Growth and the Investment Decision 619\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eIntroduction 620\u003c\/p\u003e \u003cp\u003eGrowth in the Global Economy: Developed vs. Developing Economies 620\u003c\/p\u003e \u003cp\u003eSavings and Investment 623\u003c\/p\u003e \u003cp\u003eFinancial Markets and Intermediaries 623\u003c\/p\u003e \u003cp\u003ePolitical Stability, Rule of Law, and Property Rights 624\u003c\/p\u003e \u003cp\u003eEducation and Health Care Systems 624\u003c\/p\u003e \u003cp\u003eTax and Regulatory Systems 625\u003c\/p\u003e \u003cp\u003eFree Trade and Unrestricted Capital Flows 625\u003c\/p\u003e \u003cp\u003eSummary of Factors Limiting Growth in Developing Countries 626\u003c\/p\u003e \u003cp\u003eWhy Potential Growth Matters to Investors 628\u003c\/p\u003e \u003cp\u003eDeterminants of Economic Growth 633\u003c\/p\u003e \u003cp\u003eProduction Function 633\u003c\/p\u003e \u003cp\u003eCapital Deepening vs. Technological Progress 635\u003c\/p\u003e \u003cp\u003eGrowth Accounting 637\u003c\/p\u003e \u003cp\u003eExtending the Production Function 639\u003c\/p\u003e \u003cp\u003eNatural Resources 639\u003c\/p\u003e \u003cp\u003eLabor Supply 641\u003c\/p\u003e \u003cp\u003eLabor Quality: Human Capital 646\u003c\/p\u003e \u003cp\u003eCapital: ICT and Non-ICT 647\u003c\/p\u003e \u003cp\u003eTechnology 649\u003c\/p\u003e \u003cp\u003ePublic Infrastructure 653\u003c\/p\u003e \u003cp\u003eSummary 653\u003c\/p\u003e \u003cp\u003eTheories of Growth 658\u003c\/p\u003e \u003cp\u003eClassical Model 659\u003c\/p\u003e \u003cp\u003eNeoclassical Model 659\u003c\/p\u003e \u003cp\u003eEndogenous Growth Theory 671\u003c\/p\u003e \u003cp\u003eConvergence Debate 674\u003c\/p\u003e \u003cp\u003eGrowth in an Open Economy 678\u003c\/p\u003e \u003cp\u003eSummary 686\u003c\/p\u003e \u003cp\u003ePractice Problems 690\u003c\/p\u003e \u003cp\u003eSolutions 697\u003c\/p\u003e \u003cp\u003e\u003cb\u003eReading 13 Economics of Regulation 701\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eIntroduction 701\u003c\/p\u003e \u003cp\u003eOverview of Regulation 702\u003c\/p\u003e \u003cp\u003eClassification of Regulations and Regulators 702\u003c\/p\u003e \u003cp\u003eEconomic Rationale for Regulation 705\u003c\/p\u003e \u003cp\u003eRegulatory Tools 708\u003c\/p\u003e \u003cp\u003eRegulation of Commerce 713\u003c\/p\u003e \u003cp\u003eRegulation of Financial Markets 717\u003c\/p\u003e \u003cp\u003eCost–Benefit Analysis of Regulation 718\u003c\/p\u003e \u003cp\u003eAnalysis of Regulation 720\u003c\/p\u003e \u003cp\u003eEffects of Regulations 722\u003c\/p\u003e \u003cp\u003eSummary 725\u003c\/p\u003e \u003cp\u003ePractice Problems 728\u003c\/p\u003e \u003cp\u003eSolutions 732\u003c\/p\u003e \u003cp\u003eAppendices 734\u003c\/p\u003e \u003cp\u003eGlossary G-1\u003c\/p\u003e \u003cp\u003eIndex I-1\u003c\/p\u003e \u003cb\u003eCFA Institute\u003c\/b\u003e is the global association of investment professionals that sets the standard for professional excellence and credentials. The organization is a champion for ethical behavior in investment markets and a respected source of knowledge in the global financial community. The end goal: to create an environment where investors’ interests come first, markets function at their best, and economies grow. CFA Institute has more than 155,000 members in 165 countries and territories, including 150,000 CFA® charterholders, and 148 member societies. For more information, visit www.cfainstitute.org.","brand":"Wiley","offers":[{"title":"Default Title","offer_id":47988899774693,"sku":"NP9781946442956","price":232.0,"currency_code":"USD","in_stock":false}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/1842\/7735\/files\/9781946442956.jpg?v=1761781975","url":"https:\/\/k12savings.com\/es\/products\/cfa-program-curriculum-2020-level-ii-volumes-1-6-box-set-isbn-9781946442956","provider":"K12savings","version":"1.0","type":"link"}