Browse CFA Level 1 Essentials

Chapter 3: Economics

Chapter 3: Economics explains the core concepts, key definitions, and practical implications you need for solid analysis. It highlights common pitfalls and the intuition behind the methods so the results are interpreted correctly.

In this section

  • The Firm and Market Structures
    The Firm and Market Structures: Explains Understanding Market Structures and Perfect Competition with clear explanations, key formulas, and worked examples, plus practice questions with explanations for CFA Level 1.
  • Understanding Business Cycles
    Understanding Business Cycles: Explains The Phases of the Business Cycle and Typical Characteristics of Each Phase with clear explanations, key formulas, and worked examples, plus practice questions with explanations for CFA Level 1.
  • Fiscal Policy
    Fiscal Policy: Exam-style multiple-choice practice with detailed explanations to reinforce key definitions, decision steps, and common traps for CFA Level 1.
  • Monetary Policy
    Monetary Policy: Explains The Objectives and Roles of Central Banks and Tools of Monetary Policy with clear explanations, key formulas, and worked examples, plus practice questions with explanations for CFA Level 1.
  • Introduction to Geopolitics
    Introduction to Geopolitics: Explains Defining Geopolitics: Cooperation vs. Competition and Globalization and Interdependence with clear explanations, key formulas, and worked examples, plus practice questions with explanations for CFA Level 1.
  • International Trade
    International Trade: Explains Why Trade Matters and Comparative Advantage and Specialization with clear explanations, key formulas, and worked examples, plus practice questions with explanations for CFA Level 1.
  • Capital Flows and the FX Market: Key Drivers of Global Currency Flows
    Capital Flows and the FX Market: Key Drivers of Global Currency Flows: Explains The Foreign Exchange Market: An Overview and Nominal vs. Real Exchange Rates with clear explanations, key formulas, and worked examples, plus practice questions with explanations for CFA Level 1.
  • Exchange Rate Calculations
    Exchange Rate Calculations: Explains Why Exchange Rates Matter and Understanding Cross-Rates with clear explanations, key formulas, and worked examples, plus practice questions with explanations for CFA Level 1.

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Chapter 2: Quantitative Methods
Chapter 4: Financial Statement Analysis