{"product_id":"economics-for-investment-decision-makers-9781118105368","title":"Economics for Investment Decision Makers","description":"\u003cb\u003eBook Synopsis\u003c\/b\u003e\u003cbr\u003eThe economics background investors need to interpret global economic news distilled to the essential elements: A tool of choice for investment decision-makers.\u003cbr\u003e\u003cbr\u003e\u003cb\u003eTable of Contents\u003c\/b\u003e\u003cbr\u003e\u003cp\u003eForeword xiii\u003c\/p\u003e \u003cp\u003eAcknowledgments xvii\u003c\/p\u003e \u003cp\u003eAbout the CFA Institute Investment Series xix\u003c\/p\u003e \u003cp\u003e\u003cb\u003eCHAPTER 1 Demand and Supply Analysis: Introduction 1\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eLearning Outcomes 1\u003c\/p\u003e \u003cp\u003e1. Introduction 2\u003c\/p\u003e \u003cp\u003e2. Types of Markets 3\u003c\/p\u003e \u003cp\u003e3. Basic Principles and Concepts 4\u003c\/p\u003e \u003cp\u003e3.1. The Demand Function and the Demand Curve 5\u003c\/p\u003e \u003cp\u003e3.2. Changes in Demand versus Movements along the Demand Curve 7\u003c\/p\u003e \u003cp\u003e3.3. The Supply Function and the Supply Curve 10\u003c\/p\u003e \u003cp\u003e3.4. Changes in Supply versus Movements along the Supply Curve 11\u003c\/p\u003e \u003cp\u003e3.5. Aggregating the Demand and Supply Functions 13\u003c\/p\u003e \u003cp\u003e3.6. Market Equilibrium 17\u003c\/p\u003e \u003cp\u003e3.7. The Market Mechanism: Iterating toward Equilibrium—or Not 19\u003c\/p\u003e \u003cp\u003e3.8. Auctions as a Way to Find Equilibrium Price 24\u003c\/p\u003e \u003cp\u003e3.9. Consumer Surplus—Value minus Expenditure 28\u003c\/p\u003e \u003cp\u003e3.10. Producer Surplus—Revenue minus Variable Cost 30\u003c\/p\u003e \u003cp\u003e3.11. Total Surplus—Total Value minus Total Variable Cost 32\u003c\/p\u003e \u003cp\u003e3.12. Markets Maximize Society’s Total Surplus 32\u003c\/p\u003e \u003cp\u003e3.13. Market Interference: The Negative Impact on Total Surplus 34\u003c\/p\u003e \u003cp\u003e4. Demand Elasticities 40\u003c\/p\u003e \u003cp\u003e4.1. Own-Price Elasticity of Demand 41\u003c\/p\u003e \u003cp\u003e4.2. Own-Price Elasticity of Demand: Impact on Total Expenditure 46\u003c\/p\u003e \u003cp\u003e4.3. Income Elasticity of Demand: Normal and Inferior Goods 47\u003c\/p\u003e \u003cp\u003e4.4. Cross-Price Elasticity of Demand: Substitutes and Complements 48\u003c\/p\u003e \u003cp\u003e4.5. Calculating Demand Elasticities from Demand Functions 49\u003c\/p\u003e \u003cp\u003e5. Summary 51\u003c\/p\u003e \u003cp\u003ePractice Problems 53\u003c\/p\u003e \u003cp\u003e\u003cb\u003eCHAPTER 2 Demand and Supply Analysis: Consumer Demand 59\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eLearning Outcomes 59\u003c\/p\u003e \u003cp\u003e1. Introduction 59\u003c\/p\u003e \u003cp\u003e2. Consumer Theory: From Preferences to Demand Functions 60\u003c\/p\u003e \u003cp\u003e3. Utility Theory: Modeling Preferences and Tastes 60\u003c\/p\u003e \u003cp\u003e3.1. Axioms of the Theory of Consumer Choice 61\u003c\/p\u003e \u003cp\u003e3.2. Representing the Preference of a Consumer: The Utility Function 62\u003c\/p\u003e \u003cp\u003e3.3. Indifference Curves: The Graphical Portrayal of the Utility Function 63\u003c\/p\u003e \u003cp\u003e3.4. Indifference Curve Maps 66\u003c\/p\u003e \u003cp\u003e3.5. Gains from Voluntary Exchange: Creating Wealth through Trade 66\u003c\/p\u003e \u003cp\u003e4. The Opportunity Set: Consumption, Production, and Investment Choice 70\u003c\/p\u003e \u003cp\u003e4.1. The Budget Constraint 70\u003c\/p\u003e \u003cp\u003e4.2. The Production Opportunity Set 72\u003c\/p\u003e \u003cp\u003e4.3. The Investment Opportunity Set 74\u003c\/p\u003e \u003cp\u003e5. Consumer Equilibrium: Maximizing Utility Subject to the Budget Constraint 75\u003c\/p\u003e \u003cp\u003e5.1. Determining the Consumer’s Equilibrium Bundle of Goods 75\u003c\/p\u003e \u003cp\u003e5.2. Consumer Response to Changes in Income: Normal and Inferior Goods 76\u003c\/p\u003e \u003cp\u003e5.3. How the Consumer Responds to Changes in Price 77\u003c\/p\u003e \u003cp\u003e6. Revisiting the Consumer’s Demand Function 78\u003c\/p\u003e \u003cp\u003e6.1. Consumer’s Demand Curve from Preferences and Budget Constraints 78\u003c\/p\u003e \u003cp\u003e6.2. Substitution and Income Effects for a Normal Good 79\u003c\/p\u003e \u003cp\u003e6.3. Income and Substitution Effects for an Inferior Good 82\u003c\/p\u003e \u003cp\u003e6.4. Negative Income Effect Larger than Substitution Effect: Giffen Goods 83\u003c\/p\u003e \u003cp\u003e6.5. Veblen Goods: Another Possibility for a Positively Sloped Demand Curve 85\u003c\/p\u003e \u003cp\u003e7. Summary 86\u003c\/p\u003e \u003cp\u003ePractice Problems 87\u003c\/p\u003e \u003cp\u003e\u003cb\u003eCHAPTER 3 Demand and Supply Analysis: The Firm 89\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eLearning Outcomes 89\u003c\/p\u003e \u003cp\u003e1. Introduction 89\u003c\/p\u003e \u003cp\u003e2. Objectives of the Firm 90\u003c\/p\u003e \u003cp\u003e2.1. Types of Profit Measures 91\u003c\/p\u003e \u003cp\u003e2.2. Comparison of Profit Measures 95\u003c\/p\u003e \u003cp\u003e3. Analysis of Revenue, Costs, and Profits 96\u003c\/p\u003e \u003cp\u003e3.1. Profit Maximization 97\u003c\/p\u003e \u003cp\u003e3.2. Productivity 127\u003c\/p\u003e \u003cp\u003e4. Summary 135\u003c\/p\u003e \u003cp\u003ePractice Problems 136\u003c\/p\u003e \u003cp\u003e\u003cb\u003eCHAPTER 4 The Firm and Market Structures 143\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eLearning Outcomes 143\u003c\/p\u003e \u003cp\u003e1. Introduction 143\u003c\/p\u003e \u003cp\u003e2. Analysis of Market Structures 144\u003c\/p\u003e \u003cp\u003e2.1. Economists’ Four Types of Structure 144\u003c\/p\u003e \u003cp\u003e2.2. Factors That Determine Market Structure 146\u003c\/p\u003e \u003cp\u003e3. Perfect Competition 149\u003c\/p\u003e \u003cp\u003e3.1. Demand Analysis in Perfectly Competitive Markets 149\u003c\/p\u003e \u003cp\u003e3.2. Supply Analysis in Perfectly Competitive Markets 158\u003c\/p\u003e \u003cp\u003e3.3. Optimal Price and Output in Perfectly Competitive Markets 159\u003c\/p\u003e \u003cp\u003e3.4. Factors Affecting Long-Run Equilibrium in Perfectly Competitive Markets 161\u003c\/p\u003e \u003cp\u003e4. Monopolistic Competition 163\u003c\/p\u003e \u003cp\u003e4.1. Demand Analysis in Monopolistically Competitive Markets 166\u003c\/p\u003e \u003cp\u003e4.2. Supply Analysis in Monopolistically Competitive Markets 166\u003c\/p\u003e \u003cp\u003e4.3. Optimal Price and Output in Monopolistically Competitive Markets 167\u003c\/p\u003e \u003cp\u003e4.4. Factors Affecting Long-Run Equilibrium in Monopolistically Competitive Markets 168\u003c\/p\u003e \u003cp\u003e5. Oligopoly 169\u003c\/p\u003e \u003cp\u003e5.1. Demand Analysis and Pricing Strategies in Oligopoly Markets 169\u003c\/p\u003e \u003cp\u003e5.2. Supply Analysis in Oligopoly Markets 176\u003c\/p\u003e \u003cp\u003e5.3. Optimal Price and Output in Oligopoly Markets 178\u003c\/p\u003e \u003cp\u003e5.4. Factors Affecting Long-Run Equilibrium in Oligopoly Markets 178\u003c\/p\u003e \u003cp\u003e6. Monopoly 179\u003c\/p\u003e \u003cp\u003e6.1. Demand Analysis in Monopoly Markets 181\u003c\/p\u003e \u003cp\u003e6.2. Supply Analysis in Monopoly Markets 182\u003c\/p\u003e \u003cp\u003e6.3. Optimal Price and Output in Monopoly Markets 184\u003c\/p\u003e \u003cp\u003e6.4. Price Discrimination and Consumer Surplus 185\u003c\/p\u003e \u003cp\u003e6.5. Factors Affecting Long-Run Equilibrium in Monopoly Markets 187\u003c\/p\u003e \u003cp\u003e7. Identification of Market Structure 188\u003c\/p\u003e \u003cp\u003e7.1. Econometric Approaches 189\u003c\/p\u003e \u003cp\u003e7.2. Simpler Measures 189\u003c\/p\u003e \u003cp\u003e8. Summary 191\u003c\/p\u003e \u003cp\u003ePractice Problems 192\u003c\/p\u003e \u003cp\u003e\u003cb\u003eCHAPTER 5 Aggregate Output, Prices, and Economic Growth 197\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eLearning Outcomes 197\u003c\/p\u003e \u003cp\u003e1. Introduction 198\u003c\/p\u003e \u003cp\u003e2. Aggregate Output and Income 198\u003c\/p\u003e \u003cp\u003e2.1. Gross Domestic Product 200\u003c\/p\u003e \u003cp\u003e2.2. The Components of GDP 208\u003c\/p\u003e \u003cp\u003e2.3. GDP, National Income, Personal Income, and Personal Disposable Income 211\u003c\/p\u003e \u003cp\u003e3. Aggregate Demand, Aggregate Supply, and Equilibrium 217\u003c\/p\u003e \u003cp\u003e3.1. Aggregate Demand 217\u003c\/p\u003e \u003cp\u003e3.2. Aggregate Supply 230\u003c\/p\u003e \u003cp\u003e3.3. Shifts in Aggregate Demand and Supply 232\u003c\/p\u003e \u003cp\u003e3.4. Equilibrium GDP and Prices 245\u003c\/p\u003e \u003cp\u003e4. Economic Growth and Sustainability 256\u003c\/p\u003e \u003cp\u003e4.1. The Production Function and Potential GDP 257\u003c\/p\u003e \u003cp\u003e4.2. Sources of Economic Growth 259\u003c\/p\u003e \u003cp\u003e4.3. Measures of Sustainable Growth 264\u003c\/p\u003e \u003cp\u003e5. Summary 270\u003c\/p\u003e \u003cp\u003ePractice Problems 273\u003c\/p\u003e \u003cp\u003e\u003cb\u003eCHAPTER 6 Understanding Business Cycles 279\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eLearning Outcomes 279\u003c\/p\u003e \u003cp\u003e1. Introduction 279\u003c\/p\u003e \u003cp\u003e2. Overview of the Business Cycle 280\u003c\/p\u003e \u003cp\u003e2.1. Phases of the Business Cycle 280\u003c\/p\u003e \u003cp\u003e2.2. Resource Use through the Business Cycle 284\u003c\/p\u003e \u003cp\u003e2.3. Housing Sector Behavior 292\u003c\/p\u003e \u003cp\u003e2.4. External Trade Sector Behavior 293\u003c\/p\u003e \u003cp\u003e3. Theories of the Business Cycle 294\u003c\/p\u003e \u003cp\u003e3.1. Neoclassical and Austrian Schools 295\u003c\/p\u003e \u003cp\u003e3.2. Keynesian and Monetarist Schools 296\u003c\/p\u003e \u003cp\u003e3.3. The New Classical School 299\u003c\/p\u003e \u003cp\u003e4. Unemployment and Inflation 303\u003c\/p\u003e \u003cp\u003e4.1. Unemployment 304\u003c\/p\u003e \u003cp\u003e4.2. Inflation 307\u003c\/p\u003e \u003cp\u003e5. Economic Indicators 319\u003c\/p\u003e \u003cp\u003e5.1. Popular Economic Indicators 320\u003c\/p\u003e \u003cp\u003e5.2. Other Variables Used as Economic Indicators 325\u003c\/p\u003e \u003cp\u003e6. Summary 327\u003c\/p\u003e \u003cp\u003ePractice Problems 328\u003c\/p\u003e \u003cp\u003e\u003cb\u003eCHAPTER 7 Monetary and Fiscal Policy 333\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eLearning Outcomes 333\u003c\/p\u003e \u003cp\u003e1. Introduction 334\u003c\/p\u003e \u003cp\u003e2. Monetary Policy 335\u003c\/p\u003e \u003cp\u003e2.1. Money 336\u003c\/p\u003e \u003cp\u003e2.2. Roles of Central Banks 348\u003c\/p\u003e \u003cp\u003e2.3. Objectives of Monetary Policy 351\u003c\/p\u003e \u003cp\u003e2.4. Contractionary and Expansionary Monetary Policies and the Neutral Rate 367\u003c\/p\u003e \u003cp\u003e2.5. Limitations of Monetary Policy 369\u003c\/p\u003e \u003cp\u003e3. Fiscal Policy 374\u003c\/p\u003e \u003cp\u003e3.1. Roles and Objectives of Fiscal Policy 374\u003c\/p\u003e \u003cp\u003e3.2. Fiscal Policy Tools and the Macroeconomy 382\u003c\/p\u003e \u003cp\u003e3.3. Fiscal Policy Implementation: Active and Discretionary Fiscal Policy 388\u003c\/p\u003e \u003cp\u003e4. The Relationship between Monetary and Fiscal Policy 392\u003c\/p\u003e \u003cp\u003e4.1. Factors Influencing the Mix of Fiscal and Monetary Policy 393\u003c\/p\u003e \u003cp\u003e4.2. Quantitative Easing and Policy Interaction 394\u003c\/p\u003e \u003cp\u003e4.3. The Importance of Credibility and Commitment 395\u003c\/p\u003e \u003cp\u003e5. Summary 396\u003c\/p\u003e \u003cp\u003ePractice Problems 397\u003c\/p\u003e \u003cp\u003e\u003cb\u003eCHAPTER 8 International Trade and Capital Flows 403\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eLearning Outcomes 403\u003c\/p\u003e \u003cp\u003e1. Introduction 403\u003c\/p\u003e \u003cp\u003e2. International Trade 404\u003c\/p\u003e \u003cp\u003e2.1. Basic Terminology 404\u003c\/p\u003e \u003cp\u003e2.2. Patterns and Trends in International Trade and Capital Flows 407\u003c\/p\u003e \u003cp\u003e2.3. Benefits and Costs of International Trade 411\u003c\/p\u003e \u003cp\u003e2.4. Comparative Advantage and the Gains from Trade 415\u003c\/p\u003e \u003cp\u003e3. Trade and Capital Flows: Restrictions and Agreements 424\u003c\/p\u003e \u003cp\u003e3.1. Tariffs 424\u003c\/p\u003e \u003cp\u003e3.2. Quotas 427\u003c\/p\u003e \u003cp\u003e3.3. Export Subsidies 427\u003c\/p\u003e \u003cp\u003e3.4. Trading Blocs, Common Markets, and Economic Unions 430\u003c\/p\u003e \u003cp\u003e3.5. Capital Restrictions 435\u003c\/p\u003e \u003cp\u003e4. The Balance of Payments 436\u003c\/p\u003e \u003cp\u003e4.1. Balance of Payments Accounts 438\u003c\/p\u003e \u003cp\u003e4.2. Balance of Payments Components 438\u003c\/p\u003e \u003cp\u003e4.3. Paired Transactions in the Balance of Payments Bookkeeping System 440\u003c\/p\u003e \u003cp\u003e4.4. National Economic Accounts and the Balance of Payments 445\u003c\/p\u003e \u003cp\u003e5. Trade Organizations 451\u003c\/p\u003e \u003cp\u003e5.1. International Monetary Fund 451\u003c\/p\u003e \u003cp\u003e5.2. World Bank Group 453\u003c\/p\u003e \u003cp\u003e5.3. World Trade Organization 454\u003c\/p\u003e \u003cp\u003e6. Summary 457\u003c\/p\u003e \u003cp\u003ePractice Problems 459\u003c\/p\u003e \u003cp\u003e\u003cb\u003eCHAPTER 9 Currency Exchange Rates 465\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eLearning Outcomes 465\u003c\/p\u003e \u003cp\u003e1. Introduction 465\u003c\/p\u003e \u003cp\u003e2. The Foreign Exchange Market 467\u003c\/p\u003e \u003cp\u003e2.1. Market Functions 473\u003c\/p\u003e \u003cp\u003e2.2. Market Participants 478\u003c\/p\u003e \u003cp\u003e2.3. Market Size and Composition 482\u003c\/p\u003e \u003cp\u003e3. Currency Exchange Rate Calculations 484\u003c\/p\u003e \u003cp\u003e3.1. Exchange Rate Quotations 484\u003c\/p\u003e \u003cp\u003e3.2. Cross-Rate Calculations 488\u003c\/p\u003e \u003cp\u003e3.3. Forward Calculations 492\u003c\/p\u003e \u003cp\u003e4. Exchange Rate Regimes 500\u003c\/p\u003e \u003cp\u003e4.1. The Ideal Currency Regime 500\u003c\/p\u003e \u003cp\u003e4.2. Historical Perspective on Currency Regimes 501\u003c\/p\u003e \u003cp\u003e4.3. A Taxonomy of Currency Regimes 503\u003c\/p\u003e \u003cp\u003e5. Exchange Rates, International Trade, and Capital Flows 511\u003c\/p\u003e \u003cp\u003e5.1. Exchange Rates and the Trade Balance: The Elasticities Approach 512\u003c\/p\u003e \u003cp\u003e5.2. Exchange Rates and the Trade Balance: The Absorption Approach 517\u003c\/p\u003e \u003cp\u003e6. Summary 521\u003c\/p\u003e \u003cp\u003ePractice Problems 524\u003c\/p\u003e \u003cp\u003e\u003cb\u003eCHAPTER 10 Currency Exchange Rates: Determination and Forecasting 527\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eLearning Outcomes 527\u003c\/p\u003e \u003cp\u003e1. Introduction 528\u003c\/p\u003e \u003cp\u003e2. Foreign Exchange Market Concepts 530\u003c\/p\u003e \u003cp\u003e2.1. Arbitrage Constraints on Spot Exchange Rate Quotes 533\u003c\/p\u003e \u003cp\u003e2.2. Forward Markets 538\u003c\/p\u003e \u003cp\u003e3. A Long-Term Framework for Exchange Rates 547\u003c\/p\u003e \u003cp\u003e3.1. International Parity Conditions 549\u003c\/p\u003e \u003cp\u003e3.2. Assessing an Exchange Rate’s Equilibrium Level 565\u003c\/p\u003e \u003cp\u003e3.3. Tying It Together: A Model That Includes Long-Term Equilibrium 568\u003c\/p\u003e \u003cp\u003e4. The Carry Trade 569\u003c\/p\u003e \u003cp\u003e5. The Impact of Balance of Payments Flows 573\u003c\/p\u003e \u003cp\u003e5.1. Current Account Imbalances and the Determination of Exchange Rates 574\u003c\/p\u003e \u003cp\u003e5.2. Capital Flows and the Determination of Exchange Rates 577\u003c\/p\u003e \u003cp\u003e6. Monetary and Fiscal Policies 585\u003c\/p\u003e \u003cp\u003e6.1. The MundellFleming Model 585\u003c\/p\u003e \u003cp\u003e6.2. Monetary Models of Exchange Rate Determination 588\u003c\/p\u003e \u003cp\u003e6.3. The Taylor Rule and the Determination of Exchange Rates 589\u003c\/p\u003e \u003cp\u003e6.4. Monetary Policy and Exchange Rates—The Historical Evidence 591\u003c\/p\u003e \u003cp\u003e6.5. Fiscal Policy and the Determination of Exchange Rates 595\u003c\/p\u003e \u003cp\u003e7. Exchange Rate Management: Intervention and Controls 597\u003c\/p\u003e \u003cp\u003e8. Currency Crises 602\u003c\/p\u003e \u003cp\u003e9. Shorter-Term Forecasting Tools 605\u003c\/p\u003e \u003cp\u003e9.1. Technical Analysis 606\u003c\/p\u003e \u003cp\u003e9.2. Order Flow, Sentiment, and Positioning 608\u003c\/p\u003e \u003cp\u003e10. Summary 611\u003c\/p\u003e \u003cp\u003e11. Appendix: Currency Codes Used in This Chapter 615\u003c\/p\u003e \u003cp\u003ePractice Problems 615\u003c\/p\u003e \u003cp\u003e\u003cb\u003eCHAPTER 11 Economic Growth and the Investment Decision 621\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eLearning Outcomes 621\u003c\/p\u003e \u003cp\u003e1. Introduction 622\u003c\/p\u003e \u003cp\u003e2. Growth in the Global Economy: Developed versus Developing Countries 622\u003c\/p\u003e \u003cp\u003e2.1. Savings and Investment 625\u003c\/p\u003e \u003cp\u003e2.2. Financial Markets and Intermediaries 626\u003c\/p\u003e \u003cp\u003e2.3. Political Stability, Rule of Law, and Property Rights 626\u003c\/p\u003e \u003cp\u003e2.4. Education and Health Care Systems 626\u003c\/p\u003e \u003cp\u003e2.5. Tax and Regulatory Systems 627\u003c\/p\u003e \u003cp\u003e2.6. Free Trade and Unrestricted Capital Flows 627\u003c\/p\u003e \u003cp\u003e2.7. Summary of Factors Limiting Growth in Developing Countries 628\u003c\/p\u003e \u003cp\u003e3. Why Potential Growth Matters to Investors 631\u003c\/p\u003e \u003cp\u003e4. Determinants of Economic Growth 635\u003c\/p\u003e \u003cp\u003e4.1. Production Function 635\u003c\/p\u003e \u003cp\u003e4.2. Capital Deepening versus Technological Progress 637\u003c\/p\u003e \u003cp\u003e4.3. Growth Accounting 640\u003c\/p\u003e \u003cp\u003e4.4. Extending the Production Function 641\u003c\/p\u003e \u003cp\u003e4.5. Natural Resources 642\u003c\/p\u003e \u003cp\u003e4.6. Labor Supply 645\u003c\/p\u003e \u003cp\u003e4.7. Labor Quality: Human Capital 649\u003c\/p\u003e \u003cp\u003e4.8. Capital: ICT and Non-ICT 650\u003c\/p\u003e \u003cp\u003e4.9. Technology 653\u003c\/p\u003e \u003cp\u003e4.10. Public Infrastructure 657\u003c\/p\u003e \u003cp\u003e4.11. Summary 657\u003c\/p\u003e \u003cp\u003e5. Theories of Growth 663\u003c\/p\u003e \u003cp\u003e5.1. Classical Model 664\u003c\/p\u003e \u003cp\u003e5.2. Neoclassical Model 664\u003c\/p\u003e \u003cp\u003e5.3. Endogenous Growth Theory 677\u003c\/p\u003e \u003cp\u003e5.4. Convergence Debate 680\u003c\/p\u003e \u003cp\u003e6. Growth in an Open Economy 684\u003c\/p\u003e \u003cp\u003e7. Summary 694\u003c\/p\u003e \u003cp\u003ePractice Problems 696\u003c\/p\u003e \u003cp\u003e\u003cb\u003eCHAPTER 12 Economics of Regulation 703\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eLearning Outcomes 703\u003c\/p\u003e \u003cp\u003e1. Introduction 703\u003c\/p\u003e \u003cp\u003e2. Overview of Regulation 704\u003c\/p\u003e \u003cp\u003e2.1. Classification of Regulations and Regulators 704\u003c\/p\u003e \u003cp\u003e2.2. Economic Rationale for Regulation 707\u003c\/p\u003e \u003cp\u003e2.3. Regulatory Tools 710\u003c\/p\u003e \u003cp\u003e3. Regulation of Commerce 715\u003c\/p\u003e \u003cp\u003e4. Regulation of Financial Markets 719\u003c\/p\u003e \u003cp\u003e5. Cost-Benefit Analysis of Regulation 720\u003c\/p\u003e \u003cp\u003e6. Analysis of Regulation 722\u003c\/p\u003e \u003cp\u003e6.1. Effects of Regulations 724\u003c\/p\u003e \u003cp\u003e7. Summary 728\u003c\/p\u003e \u003cp\u003ePractice Problems 729\u003c\/p\u003e \u003cp\u003eGlossary 731\u003c\/p\u003e \u003cp\u003eReferences 745\u003c\/p\u003e \u003cp\u003eAbout the Editors 751\u003c\/p\u003e \u003cp\u003eAbout the CFA Program 753\u003c\/p\u003e \u003cp\u003eIndex 755\u003c\/p\u003e","brand":"John Wiley \u0026 Sons Inc","offers":[{"title":"Default Title","offer_id":49406830510423,"sku":"9781118105368","price":75.6,"currency_code":"GBP","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0817\/1739\/5799\/files\/9781118105368.jpg?v=1730497262","url":"https:\/\/bookcurl.com\/products\/economics-for-investment-decision-makers-9781118105368","provider":"Book Curl","version":"1.0","type":"link"}