Economics
The following are the topics I have studied (and will be planning to study) during my time in the Korean military until November 2022. As these notes are primarily for my personal use, I did not spend as much time writing them in a manner that is clear for all readers. But since it would be a waste not to share them, I uploaded them on this website. All of my personal notes are free to download, use, and distrbute under the Creative Commons "Attribution- NonCommercial-ShareAlike 4.0 International" license. Please contact me if you find any errors in my notes or have any further questions. I have used the LaTeX editing program Overleaf to create my notes; diagrams are often drawn using the tikz package or iPad Notes.
Microeconomics
- Supply and Demand: Equilibrium, Elasticities, Marginal Cost/Value, Producer Theory
Macroeconomics
- Fiscal Policy: Discretionary & Mandatory Spending, Federal Income (Taxes), Budget Deficits, National (Domestic, Foreign, Intragovernmental) Debt w/ GDP Ratio, Debt Monetization, Debt Ceilings, Historical Events affecting Income/Spending
- Monetary Policy: M1/M2 Supply, Inflation, Interest Rates, Central & Commercial Banks, Open Market Operations
- Global Trade & Supply Chains: Workforce, Employment Rate, Trade, Domestic/International Supply Chains, Imports & Exports, Suppliers, Manufacturers, Distributors/Wholesalers, Retailers, Trade Policies (Tariffs, Subsidies, Quotas), GDP (Expenditure Approach), Currency & Foreign Exchange, Forex Markets, Currency Pegging
- International: Forex Markets, Global Supply Chains
Fundamental Investing
- Private Investment: Stocks, Angel Investors, Venture Capital, Dividends
- Accounting: Annual and Quarterly Statements, Balance Sheet, Income Statement, Cash-Flow Statement, 8-Ks
- Corporate Structure: Management Hierarchy, Sectors and Industries, Business Models, Departments, Lifecycle, Expansion and Integration
- Public Investment: Initial Public Offerings, Direct Listings, SPACs, Seasoned Issues, Rights Offerings
- Corporate Restructuring: Private Equity, Mergers and Acquisitions, Sister and Parent Companies, Shell Companies, Bankruptcy
- Company Valuation: Ratio Measures, Discounted Cash Flows, Comparables
- Primary Debt Markets: Interest Rates, Inflation, Treasury Auctions, Daycount Conventions, Corporate Debt
- Bond Valuation: DCF, Yields, Relation to Other Markets
- Forwards and Futures: Settlement, Delivery
- Swaps: Interest Rate Swaps, Forex Swaps
- Options: Basic Heding Strategies
- Funds: Mutual Funds, Index Funds, ETFs, Growth Funds, Hedge Funds
Quantitative Finance
- Secondary Markets: Counterparties, Clearing Houses, Market Makers, Exchanges vs OTC Markets, Stock Prices, Limit Order Books, Types of Stock Orders, Dark Pools, Market Manipulation, HFTs, Efficient Market Hypothesis
- Stocks: Model, Dividends, Short Selling
- Momentum: Mean Reversion, RSI, Bollinger Bands, Moving Averages
- Statistical Arbitrage: Pairs Trading, multiple securities
- Portfolios: Markowitz Optimization, Capital Asset Pricing Model (CAPM)
- Derivatives: Fowards, Futures, Options Valuation, Greeks, Black-Scholes, Implied Volatility, Dispersion Signals