CFA考试科目中的经济学考点有哪些?考题易错点在哪?

CFA考试科目中的经济学的考点有哪些呢?小编告诉你相当多的,今天我们先来讲一讲其中的几个,学习不是一蹴而就的,需要的是慢慢消化,当你知道了这些知识后,再学之后的问题就简单多了!
CFA考点一:Breakeven Point

The demand schedule in a perfectly competitive market is given by P=93-1.5Q (for Q≤62)and the long-run cost structure of each company is:

Total cost: 256+2Q+4Q2
Average cost: 256/Q+2+4Q
Marginal cost: 2+8Q
New companies will enter the market at any price greater than:

A 8          B 66         C 81

答案:B is correct. The long-run competitive equilibrium occurs where MC=AC=P for each company. Equating MC and AC implies 2+8Q=256/Q+2+4Q.
Solving for Q gives Q=8. Equating MC with price gives P=2+8Q=66. Any price above 66 yields an economic profit because P=MC>AC, so new companies will enter the market.
CFA考试解题思路:这题主要考察以下两个考点,*个是是盈亏平衡点(breakeven point)。在完全竞争市场上,P=ATC是厂商的盈亏平衡点。而在P>ATC时,利润会吸引新厂商进入。第二个考点:单个厂商在完全竞争市场上均衡条件下有P =MR =MC=AC;根据此公式,本题联立MC=AC 即可求出答案。
易错点分析:很多同学都有这样的疑问:为什么不可以联立P=MC或者P=AC直接来求解。那是因为我们算盈亏平衡点时,需要用到单个厂商的需求曲线,而非整个市场的需求曲线。但是题目中给的需求曲线公式却是整个市场的,因此不可选用。所以本题中均衡条件下的完全竞争市场满足P=AC,所以可直接用MC=AC来计算此题。本题需要注意区分单个厂商和整个市场的需求曲线。

CFA考点二:Economies of Scale

A firm that increases its quantity produced without any change in per-unit cost is experiencing:

A economies of scale
B diseconomies of scale
C constant returns to scale

答案:C is correct. Output increases in the same proportion as input increases occur at constant returns to scale.
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解题思路:题目中说到产量增加,“单位成本”不变,那么它就是指规模报酬不变。换言之,成本和产量等比例地增加。


易错点分析:很多同学都选了A。A选项错在规模经济下,单位成本是下降的。 如果A选项说“总成本”不变。总产出增加,单位成本不变是指规模经济(如下图所示)。所以在做类似题目的时候,大家需要看清题目究竟问的是“单位成本”还是总成本。

CFA考点三:Profit Maximum
A profit maximum is least likely to occur when:
A average total cost is minimized
B marginal revenue equals marginal cost
C the difference between total revenue and total cost is maximized
答案:A is correct. The quantity at which average total cost is minimized does not necessarily correspond to a profit maximum.

解题思路:Profit=TR-TC; ①当两者之差达到*值时,说明此时的profit为*值;②求导方法,TR'-TC'=0时,此时profit达到*值,即MR=MC
易错点分析:

这道题不少同学都没有看清least likely,*选择错误。选择A是因为判断profit大小时,不能单由cost判断,还要考虑revenue和产量。Cost*的时候,Revenue和产量可能同时比较小,如此总的Revenue就很低,那么利润也很低。
所以CFA考试科目中的经济学你这几道题会吗?知道其中的知识点吗?