Economics CFA Level 1: Smart Tips To Pass Your CFA Exam

This training is extremely different from the other programs and has been battle tested by thousands of CFA Candidates.

No matter where you stand in your preparation this program is powerful and will give you the confidence and the elements you are missing.

The program has been designed to make complicated concepts easy. It is especially intended for those who have difficulties going through the material alone.

Whatever the material you like and picked for your preparation, this program will help you take the most out of your investment and time spent actually studying.

Investing in this training is like getting a personal one-on-one helicopter ride to the top of the mountain. You don't have to climb it yourself.

Throughout this course, we will celebrate your progress at 25%, 50%, 75%, and 100%. I really want you to succeed but you need to take action and keep going so look forward to these milestones of progress. I will see you there and cheer you on as you keep going from one milestone to the next >>

This is an introductory lecture to the CFA Level 1 Exam Topic Area: Economics. A must-watch lecture. Jhan shares a plan to tackle this incredibly voluminous section of the CFA Level 1 Exam. Economics content can be divided into three different segments:

1. Micro Economics

2. Macro Economics (The BIG Five Concepts)

3. International Economics

Watch and Learn:

• Aggregate Demand Curve

• Aggregate Supply Curve

• GDP

• Income Approach to measure GDP

• Expenditure Approach to measure GDP

• Fundamental Relationship between Savings and Investments, Fiscal Balance, Trade Balance

Watch and Learn:

• Aggregate Demand Curve

• Aggregate Supply Curve

• GDP

• Income Approach to measure GDP

• Expenditure Approach to measure GDP

• Fundamental Relationship between Savings and Investments, Fiscal Balance, Trade Balance

Watch and learn the following concepts from this lecture:

• Very Short-Run Aggregate Supply Curve

• Short-Run Aggregate Supply Curve

• Long-Run Aggregate Supply Curve

• Aggregate Demand Curve

Jhan in this lecture shares a mnemonic to memorise the four factors that can shift the Long-Run Aggregate Supply Curve (Potential Full Employment GDP): Tender Love Care mean gifting Roses to your GF which transforms into:

Technology

Labour

Capital

Resources

Unemployment is one of the most important leading indicators of an Economy.  A very important concept for the CFA Level 1 Exam. Make sure you understand the difference between the four different types of Unemployment:

1. Seasonal

2. Structural

3. Frictional

4. Cyclical

In this lecture, you will learn the different theoretical explanations for business cycles, including:

1. Neoclassical school

2. Keynesian school

3. The New Keynesian school

4. Monetarist school

5. Austrian school

This lecture highlights another very important concept from Macro-Economics i.e. Output Gap. Remember the output gap can be positive (Inflationary) or Negative (Recessionary).

This lecture discusses the factors that can shift the Aggregate Demand (AD) curve.

After watching this lecture, you will be able to understand the following concepts:

• Monetary Policy

• Tools used for Monetary Policy Implementation

Watch and Learn:

• Impact of Expansionary and Contractionary Monetary Policy on Aggregate Demand and Supply

Throughout this course, we will celebrate your progress at 25%, 50%, 75%, and 100%. I really want you to succeed but you need to take action and keep going so look forward to these milestones of progress. I will see you there and cheer you on as you keep going from one milestone to the next >>

This lecture discusses the following topics:

• Fiscal Policy

• Fiscal Policy Implementation Tools

• Impact of Expansionary and Contractionary Fiscal Policy on Aggregate Demand and Aggregate Supply

This lecture proposes a solution to a situation where the economy has a positive output gap (inflationary). Jhan discusses the use of appropriate monetary and fiscal policy to eliminate this output gap.

Watch this lecture and understand the following very important topics for the CFA Level 1 Exam:

• Inflation

• GDP Deflator

• Consumer Price Index (CPI)

• Producer Price Index (PPI)

• Laspeyres Index

• Paasche Index

The third section of CFA Level 1 Economics starts here. An introductory lecture on currencies, which includes the following topics:

• Price Currency

• Base Currency

• Direct Quote

• Indirect Quote

• Dealer Bid-Ask Spread

Learn how to calculate the percentage appreciation or depreciation of a currency against another currency. Remember, the currency you want to calculate appreciation or depreciation for should always be in the denominator or in other words the base currency.

Jhan discusses an example of calculating the appreciation/depreciation of the ZAR (South African Rand) against the Pound Sterling. Watch and learn the basics.

Learn the X-Rules of calculating the currency cross rate, given three different parities and currencies.

Jhan discusses how to price a currency forward contract with a comprehensive example. Covered Interest Rate Parity (CIRP) and other important concepts are discussed, as well.

This lecture is a continuation of the comprehensive example started in the previous lecture.

This lecture completes the comprehensive example started and discussed in the previous two lectures.

Throughout this course, we will celebrate your progress at 25%, 50%, 75%, and 100%. I really want you to succeed but you need to take action and keep going so look forward to these milestones of progress. I will see you there and cheer you on as you keep going from one milestone to the next >>

Micro-Economics: The third section of 'Economics' starts from this lecture. Jhan at the start of the lecture says that there are not many pain points in this section and he is going to focus only on 'Market Structures'. The concept of market structures is not only important for the exam but it has a lot of technical points to understand and comprehend.

The lecture discusses the four types of market structures and their characteristics:

1. Monopoly

2. Oligopoly

3. Monopolistic

4. Pure Competition

The demand curves for the following type of market structures are discussed in this lecture:

• Pure Competition

• Monopolistic

The demand curves for the following type of market structures are discussed in this lecture:

• Monopoly

• Oligopoly

Lastly, marginal revenue, marginal cost, price, and average total cost curves are discussed. Using these curves, Jhan explains the concept of Economic Profit.

Throughout this course, we will celebrate your progress at 25%, 50%, 75%, and 100%. I really want you to succeed but you need to take action and keep going so look forward to these milestones of progress. I will see you there and cheer you on as you keep going from one milestone to the next >>

In this introduction to the webinar interview, Jhan explains his background as a CFA trainer. He explains what the CFA is, as well as other, similar qualifications that people consider. Jhan calls CFA the "gold standard" in the finance industry, especially with the top firms at which he has been spending many years training employees.

Jhan gives advice for people thinking about getting into CFA and he emphasizes the investment in time that it will require. He compares CFA to the other qualifications which are more expensive but require less time and are less well known. Jhan talks about the number of hours required and the different levels of the CFA.

An audience member asks about how university finance degrees fit with the CFA curriculum. Jhan explains that he does a lot of work with universities and although CFA is a post graduate qualification, often universities will give students time and support towards their CFA exams. Another student asked what advice Jhan would give to be prepared for their Level 1 exam in a few months time.

Peter asks Jhan about his unique teaching style for CFA and why he started recording all his teaching lessons. Jhan talks about how he had a non-financial background and has developed very interesting and memorable ways of teaching, precisely because he had to work it all out for himself. His lessons focus on a way of of learning rather than adding to the high volume of material that CFA students already have to deal with.

An audience member with a BCom in Financial Management asks if CFA would be useful in pursuing a career in financial crime. Jhan explains that CFA has such huge credibility in the industry and it's the world's largest and most recognised financial literacy qualification which would definitely prepare a student for many financial careers.

Jhan answers a question and provides the career options for CFA; wholesale finance, portfolio analysts and roles on the "buy side". He emphasizes that any financial centre such as London, New York or Shanghai will recognise the CFA "passport".

An engineer asks about how complex the accountancy is in the exam and how long it would take to cover that aspect of the exam. Jhan explains that there are many engineers who have done CFA and that engineering is also an analytical career, just like CFA. Jhan doesn't teach in the traditional accountancy format, like a book keeper, he uses real life examples and helps people make sense of the economic realities of investment decisions.

Peter talks about how he found Jhan's accountancy lecture to be very authentic, which uses the "ALE" mnemonic (Assets = Liabilities + Equity). An audience member asks whether Jhan would recommend a CFA over finance honours. Watch to find out Jhan's answer.

Peter quizzes Jhan on the support that he plans to provide students. Jhan explained:

(1) It's all about community, which is available in the CFA Secrets Facebook group and how people will be able get more help and also help each other.

(2) Support and access to experts through the group and online courses which will be rolled out in the coming months to give CFA students the topic based teaching they need.

Jhan explains how his courses are not "cover to cover" but rather focus on the critical areas that will ensure you pass.

An audience member explains that he failed the CFA Level 1 5 years ago and Peter asks Jhan if he can help this person. Jhan gives the data on the very low pass rates for CFA but is very proud of his own student pass rates which is very high in the industry. Peter mentions the endorsements that Jhan has on his LinkedIn page which are an indication of the credibility that Jhan has in the industry. Jhan offers everyone to connect with him on LinkedIn.

Jhan explains the options after passing each of the levels of CFA. Tracey Ashington joined the webinar interview; she is a graduate recruiter for large international banks and explained that CFA is always the most reliable finance qualification that banks look for.

Peter and Tracey announce the winner of the laptop and there was a big surprise: another laptop had become available so Tracey was able to give another one away, based on the rules of the competition. Then Jhan gives a laptop away to the first person who was able to answer the question about how many levels there are in CFA.

The CFA exams are 6 weeks away and we are here to help. Jhan Burger is one of the industry's leading CFA instructors with satisfied students all around the world. Make sure you have the right plan to pass, join us in this webinar and get the best advice and support for your success!