Hi, I do not have financial background. I am feeling very weak in economics. I am having hard time to understand the curves ATC, MR, MC etc for perfect competition, Monopoly. I am going to read again to try to understand. I appreciate for any tips on any useful links to get basic understanding on the graphs and concepts. Thanks, Chinni
Try reading a micro-economics book, or the study notes from Schweser.
chinni, try to post specific questions and we’ll do our best to help. This is too general a statement and I’m not sure what in particular you’re having problems with. Try to understand the concepts, rather than memorize them, it’s all very logical when you think about it.
first try to read session 6 ,it is straight forward with foreign exchange,if you have little interest it is easier,then slowly cover up sessions 4 and 5
CFAI text is way too better than the schweser notes. Schweser are only good for revision. CFAI explains economics quite well. Even I had problems understanding the curves. But I think the problem is not understanding, but remembering those zillion graphs !
again, if you understand the concepts, you shouldn’t have to memorize all ‘those zillion graphs’. For example, why is perfectly inelastic supply a vertical line, or why is AFC flatter for larger quantities produced, etc.
Appreciate for replies. I am reviewing the economics CFA institute material and also listening Scheweser mp3 files. I felt movements in graphs little difficult to understand. I agree that remembering shifts etc also takes more time Anyway, I will post questions again after reviewing the concepts as separate thread.
I do not have much of an econ background and I have found the CFAI texts to be somewhat confusing. Much of it may be attributed to the “assumptions” of pre-req econ knowledge presented at the front, many of which I do not meet. That said, I have found the end of chapter questions to be rather easy. So perhaps try to not to get too caught up in all the jargon and rather think logically about the questions presented. Moreover, a friend of mine passed LI in june and he said not to spend much time on econ. He is familiar with my background. Can anyone shed light on the degree of knowledge the test commands versus the ad nauseum nature of the text?