Today was a great day because I finished reading 28, the end of economics, and the end of book 2! The economics section is very broad and covers material from econ101 to econ211. The last couple of readings covered topics we haven't studied for econ211 yet, so I am slightly ahead with my university work :)
The last study session was concerned with the U.S. Federal Reserve Bank. They are primarily responsible for maintaining price stability and promoting sustainable real GDP growth. It was quite interesting studying this in detail because the Business section in the newspaper often has articles relating to the Reserve Bank and prediction of whether they will change the OCR or not.
Another interesting topic covered was fiscal policy and how government spending affects the economy. With the elections coming up this year, I will be able to use what I've learnt to analyze the parties' policies use it to make my decision of who to vote for.
One thing I noticed was the economics section did not delve deep into the mathematical side. It seemed to focus more on the basic concepts. This could be a reason why many people do poorly in the economics section when they majored in it at university; they remember all the equations but didn't take the time to understand the concepts clearly. I'm just guessing though, that's probably not it at all.
Tomorrow I start financial statement analysis which is the biggest topic for level one; it makes up around 20% of the exam so taking it slow and understanding it all is very important. The good news is from next week I have a 2 week mid-term break. I need to use some of this time to study for a test, do a couple of assignments, and start planning an essay, but I will use the time wisely and aim for doing 2 readings a day.
How are your studies going? Are you on track or are you falling behind? I have found it tough to keep up with the high pace and will finish a couple of weeks after I planned to (which was the beginning of October), but I believe it's important to thoroughly understand the concepts before moving to the next section. This will make revision easier.
103 days until the level 1 exam.
1 comments:
I can't stress enough. Become intimate with FSA. It will be your worst enemy if you aren't ready on exam day. It will be your best friend if you are. It is easier than quants and is second only to ethics in terms of exam weight.
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