Economics: CFAI or Schweser shortcut, reference, material, course, result

mamuka12

Hi Everyone:
I would just like some input with regards to the CFAI book vs. Schweser’s for economics level 1.
Is it recommended to take a shortcut and read economics only from Schweser and have the CFA book as a reference  or does Schweser miss a lot of material? I found this to be the case with FSA and as a result, did FSA almost exclusively from the CFAI book. I have taken only one macroeconomics course (I am an engineer).
Thx and GTLA Dec. ‘08 Level I writers!
Ali

MarginofSafety

It depends upon the background, if you are not an economics major then study from CFAI textbook. It will help in better understanding of topics.

JGovender

use both if you are serious about getting cfa

ap0258

You’ve got until december so why not both. Lots of time left.

lucasg85

I’d suggest you use Schweser and aim to start practice exams 1 month before the exam. Then revert to CFAI for areas where you need more detail.

waldziuchna

personal advice, do cfa especially for eco as u wont get anything from sch

willsucceed

Econ is worth 10% of the exam, but has one HUGE book it’s a lot of material.
If you’re pressed for time go through Schweser, pay particular attention to the graphs, make sure you understand each one and how to manipulate each on under certain conditions.
If you’re not worried about time constraints, CFAI is the way to go. Either way, do all the questions at the back of each reading.

studyn

Thanks for all the replies everyone.
When I did FSA and Quant/Ethics, I took a lot of notes for each reading and it was time consuming  at least 5 to 7 pages per reading + CFA question answers. Just wondering what other people’s methods are and if what I am doing is maybe overkill. Perhaps I should just read and highlight through the econ cfai book and only jot down words on cue cards? Otherwise it may be too time consuming…
Thx and GTLA
Ali

hw0799

I prefer writing on my cfai books… i normally never take notes, but if it comes down to it, i will scribble (highlight, underline, write comments, etc) all over the books. I suggest start w/ the cfai books on areas that you’re not comfortable so you can develop a more comprehensive understanding/knowledge of those subjects. Do the schweser if you have enough time afterwards, then do LOTS and LOTS of practice problems. At least 1/3 of the qbank (~1,000 questions) + book6 and sample/mock exams from cfai.

fishmarket

This time around I read CFAi books, highlighted and then went back and made flashcards. Then I did the readings at the end. One month prior, I did Qbank and questions on here and the sample and mock exams.
Doing it over, I would have read CFAi, highlighted, then would have gone to Schweser to get a better understand of hard basic topics that they simplify. And then go back and make flash cards from CFAi books and reread stuff that Schweser doesn’t cover.
I feel like I should have used a 3rd party system to get a better understanding of the basics earlier on that CFAi gave too much detail on.