APSN CFA 2013 Level 1 Study Session

This study session covers fundamental macroeconomic concepts. The first reading provides the building blocks of aggregate output and income measurement, aggregate demand and supply analysis, and the analysis of the factors affecting economic growth. The second reading explains fluctuations in economic activity, known as business cycles, which have important impacts on businesses and investment markets. Monetary and fiscal policy, the subject of the third reading, are the major approaches of governments and governmental agencies to mitigating the severity of economic fluctuations and achieving other policy goals.