ECON everyone, putting

suxiaoxiao

How much time is everyone putting into the econ section?

mnieman

Did you already do all the practice problems for this section or was that just on reading and taking notes? I just finished the first section of econ and about to start the problems....should i focus more on concepts or solving problems with formulas?

farrukhsadiq

econ KILLED me in June. And while I was reading it I was comfortable, did questions, etc. I actually enjoyed the material - you'll see some AF posts cursing its name.

what you have to watch out for in eco is retention. SO MANY graphs, what makes who go up and down when and why, all the theories, and nothing is INSIGNIFICANT. the topic that they only go over for one paragraph - will haunt you.

For now just make sure you're comfortable with the main topics, do the questions, understand the graphs/relationships and be sure to leave room at the end of your studies for eco. Come November, you will see a question about the LRAC curve and swear its written in a foreign language....

rkapoor

slorte Wrote:
-------------------------------------------------------
Come November,
> you will see a question about the LRAC curve and
> swear its written in a foreign language....


LOL but so true!

I don't think there are two many economics questions in the CFAI text. Try the end of chapter ones from Schweser, they are very simplified though.

The main thing is don't get hung up on it. You still have five months. Just read the material, make sure you understand it and then you will be well positioned for review time.

ramzes

The answer to any econ question is the one with the word marginal in it.

scr879

I agree with the posters here. Economics, while fairly short in terms of reading material, is full of graphs and relationships that you have to know cold. If not, you will easily miss questions. Anything I did not know, if it had marginal as one of the answer choices, I went with that one.

ajpheif16

ECON is a killer, no matter how much you do there will always be a question which you cannot deduce from whatever you have studied.
That being said, I was scared as hell before the June exam, but I found exam economics section very easy, it took me less then 5 mins to complete the morning and afternoon session of the econ exam. I only used CFAI ECon book and Schweser QBANK for economics.

Concentrate on understanding the core concepts like taxes/susidies/Monopoly/Fed tools to counter recession and inflation. I will give CFAI a thumbs up for the Econ book, it explains concepts very well. But QBank is the key, drill it as hard as you can.

shootingstar

fed funds rate is the rate at which fed makes loans to the banks, interbank rate is the rate at which banks borrow and lend from each other

JGovender

I graduated with an econ degree from a pretty solid econ school and still found the econ questions on exam to some of the most challenging. If you don't have an extensive econ background, I would consider spending a large chunk of time on the econ material. The book may seem smaller than some other sections, but the graphs alone take much memorization to grasp the concepts. Sometimes these graphs may only take one page in the CFAI book, so the smaller size of the econ book is very deceptive. Take extra care to know about monopolies and the banking system....spend so much time that you actually dream about the Fed's policy tools and you should be okay.

spartanag07

My sense/experience is that "taking notes" is not the best way to go. Much better to make flashcards. Best way to do that is to do it by LOS. LOS written out on one side, answer on the other. If answer won't fit on the one side, allow it to overflow back onto the LOS side of the card. Try not to exceed one card per LOS, thus helping prevent you from going into too much detail vis-a-vis your purpose of quickly refreshing your recall of core concepts.

Flashcards are perfect for the brain-bending econ stuff, I've found for myself. Also especially good for the quant stuff.

HTH



Edited 1 time(s). Last edit at Saturday, July 18, 2009 at 02:24PM by pryan.