经济学
变化集中在Reading 13 Currency Exchange Rates:Determination and Forecasting。删除3个考点(考点k、考点l和考点p),不再考察决定汇率的三大模型及使用技术分析来预测汇率的方法。新增2个点,forward rate parity远期汇率平价和政府对汇率的干预目标。
删除:
考点k :describe the Mundell–Fleming model, the monetary approach, and the asset market (portfolio balance) approach to exchange rate determination;
考点l :forecast the direction of the expected change in an exchange rate based on balance of payment, Mundell–Fleming, monetary, and asset market approaches to exchange rate determination;
考点p :describe uses of technical analysis in forecasting exchange rates.
变化与新增(加粗部分为变化内容)
考点e :explain international parity conditions (covered and uncovered interest rate parity, forward rate parity, purchasing power parity, and the international Fisher effect);
考点l:describe objectives of central bank or government intervention and capital controls and describe the effectiveness of intervention and capital controls;
公司金融
变化集中在Reading 23 Dividends and Share Repurchases: Analysis。新增4个考点(考点a,考点h,考点i和考点j,为原一级删除的内容并入二级),2个考点(考点d与考点e)表述发生变化,但无实质影响。
新增与变化
考点a:describe the expected effect of regular cash dividends, extra dividends, liquidating dividends, stock dividends, stock splits, and reverse stock splits on shareholders’ wealth and a company’s financial ratios;
考点h:compare share repurchase methods;
考点i:calculate and compare the effect of a share repurchase on earnings per share when 1) the repurchase is financed with the company’s surplus cash and 2) the company uses debt to finance the repurchase;
考点j:calculate the effect of a share repurchase on book value per share;
考点d:explain how clientele effects and agency costs may affect a company’s payout policy;(原为agency issues)
考点e:explain factors that affect dividend policy in practice;(原无in practice)