## Overview

Our free CFA Level II Economics notes cover everything you need to know for this module. From currency exchange and valuation, economic growth and cycles, to international trade and capital flows, we've got you covered. Whether you're in a classroom or taking the self-study route, these notes provide added peace of mind, knowing that you have everything you need to help consolidate and revise effectively for CFA Level II exam. Think something could be better? [Give us a shout on our contact page](/contact), and we'll take a look.

We've created comprehensive study guides for all CFA Level II topics. Check out our other free notes below:

- [Ethical and Professional Standards](./cfa-level2-ethical-and-professional-standards)
- [Quantitative Methods](./cfa-level2-quantitative-methods)
- [Economics](./cfa-level2-economics)
- [Financial Statement Analysis](./cfa-level2-financial-statement-analysis)
- [Corporate Issuers](./cfa-level2-corporate-issuers)
- [Equity Investments](./cfa-level2-equity-investments)
- [Fixed Income](./cfa-level2-fixed-income)
- [Derivatives](./cfa-level2-derivatives)
- [Alternative Investments](./cfa-level2-alternative-investments)
- [Portfolio Management and Wealth Planning](./cfa-level2-portfolio-management-and-wealth-planning)

## 1. Currency exchange and valuation

- [PPP IRP and carry trade fundamentals](./cfa-level2-currency-exchange-and-valuation-ppp-irp-and-carry-trade-fundamentals)
- [FX regimes and central bank intervention](./cfa-level2-currency-exchange-and-valuation-fx-regimes-and-central-bank-intervention)
- [Currency risk exposures and hedging approaches](./cfa-level2-currency-exchange-and-valuation-currency-risk-exposures-and-hedging-approaches)

## 2. Economic growth and cycles

- [Neoclassical and endogenous growth models](./cfa-level2-economic-growth-and-cycles-neoclassical-and-endogenous-growth-models)
- [Output gaps inflation dynamics and expectations](./cfa-level2-economic-growth-and-cycles-output-gaps-inflation-dynamics-and-expectations)
- [Policy interactions fiscal monetary and exchange rate](./cfa-level2-economic-growth-and-cycles-policy-interactions-fiscal-monetary-and-exchange-rate)

## 3. International trade and capital flows

- [Comparative advantage trade barriers and terms of trade](./cfa-level2-international-trade-and-capital-flows-comparative-advantage-trade-barriers-and-terms-of-trade)
- [Balance of payments current account sustainability](./cfa-level2-international-trade-and-capital-flows-balance-of-payments-current-account-sustainability)
- [Country risk sovereign debt and external imbalances](./cfa-level2-international-trade-and-capital-flows-country-risk-sovereign-debt-and-external-imbalances)


Free CFA Level II Economics Study Guide