Study Session Discussions

[KBREHM]

Thanks for setting this group up! Great idea! If anyone is
interested, I'm in a small group (virtual) and we are just starting
our discussions on the study sessions. We covered SS3 last weekend
and will cover SS4 this weekend (~noon CST). Our process is to have
two of us fully understand the information and hold a discussion that
anyone can listen in on and contribute to. Let me know if you are
interested in listening or joining and I can post the conference
information. Otherwise, I'll keep an eye on this group and contribute
all I can. Thanks again and good luck with your studying!

[swt326]

I'd like to join for this weekend's session. I went through SS4 last
week, but would like to hear other people's thoughts since it covers
many topics.
Thanks!

[Jordan Wang]

Hi there, 

Great idea on the web conference! Please add me to the list. I'll contribute anyway I can.

I started my studies on Quants, and I'll get back to Ethics last. From what I see so far, I don't see level 2 being much harder than level one. The fact that it's not nearly as broad is actually easier in my opinion. Hopefully that's still the case later on. 

Good luck to everywhere here, and congrats on passing level one!

[swt326]

KBREHM,
Can you please post the details for the conference or at least email
it to us? Is it on both Saturday and Sunday at 12 CST?
Thanks!

[KBREHM]

Yes, it will be on Sunday only at 12 CST for SS4. We used skype last
call w/out video instead of google+ hangout. (Would like to use
hangout in the future.) For now,send me your skype name and I'll make
sure to bring you in. Otherwise, mine is kandm...@yahoo.com.

Hope to talk to you this weekend!

[Sonal Thakor]

My skype name is sonal326. Please add me to the conference. Thanks!

[KBREHM]

Will do! I haven't gotten the topics for readings 17 & 18 yet, but
for 19 & 20 we will try to cover the list below.

(Also, just to set expectations, this discussion is not a deep dive
into the material; so please do not expect to come away from it an
expert. The one last week simply familiarized us with the material
and made it more comfortable in our future studies. That being said,
I look forward to having you join us on Sunday!):

19:
*Components of BOP - (Current, Financial, Reserves Account)
*Effect of Deficit and Surpluses

*Currency Movement Factors

*Expansionary Policy & E-Rate Impact

*Absolute Purchase Price Parity vs Relative Purchase Power Parity (w/
calc)

*Fischer Relation (Nominal vs Real Rates) * International Fischer
*Uncovered vs Covered I-Rate Pariety & Forecasting Spot Rates

*Foreign Excahnge Expectation Invalid

20:
*Economic Activity Net Income Summation
*Measurements of GDP
*Computing GDP at Factor Prices

On Feb 3, 3:05 pm, Sonal Thakor <sonalw...@gmail.com> wrote:
> My skype name is sonal326. Please add me to the conference. Thanks!
>
>
>
> On Fri, Feb 3, 2012 at 2:57 PM, KBREHM <brehmke...@gmail.com> wrote:
> > Yes, it will be on Sunday only at 12 CST for SS4.  We used skype last
> > call w/out video instead of google+ hangout.  (Would like to use
> > hangout in the future.)  For now,send me your skype name and I'll make

> > sure to bring you in.  Otherwise, mine is kandmbr...@yahoo.com.

> > > > > all I can.  Thanks again and good luck with your studying!- Hide quoted text -
>
> - Show quoted text -

[Sonal Thakor]

Sounds good to me, I've gone through econ once and taken notes, but really want to cement the concepts even though its a small portion of the exam. This is my 2nd time and last time the econ questions were tricky!

[Frank Jiang]

Do you mind shedding some lights? Is the cross bid/ask rate tricky or some concepts tricky? How many questions you had last time?  TIA

[Sonal Thakor]

It's about 5-10% of the exam, which means there can be 1 or 2 item sets. I had one but this was a couple years ago. As far as topics covered, it will change from year to year, but the reason it's tricky is because one item set will encompass all the topics and conceptual understanding is important. IMO it's relatively easy to memorize a formula and compute an answer, but it's the understanding of the relationships and cause & effects that is most important which might trip you up. 

For example, understanding tariffs and quotas is one thing, but then knowing how the implementation affects supply/demand/prices will be most important. Or, understanding how fiscal/monetary policies affect the economy based on the changes in the LT and ST. These are just examples, but that's how level 2 works. Level 1 you could manage by knowing the topics, but level 2 goes deeper and makes you link everything together. 

[Frank Jiang]

I see, thanks for sharing your thoughts. I am a little worry about balance of payment and current account analysis. The last question in CFAI econ chapter, question 6 on P697 is very tricky, kind of along the same line you describe. I still don't quite get it after reading the answer. :(  Hopefully I will get more practice later on to reinforce the concepts.