Class Notes (835,376)
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POLC99H3 (33)
Lecture

Lecutre 03 Notes

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Department
Political Science
Course
POLC99H3
Professor
Norla Carloff
Semester
Fall

Description
Lecture 03 The Demand for Financial Markets & the International Monetary System Theorizing Financial Markets Will investors make more money than the average investor? Most information is contained in the price of a stock o Try to figure out the future stock price anticipate future information (only new information will alter the price of the stock) Random Walk model only some form of error can be used to determine future stock prices o Cannot use past prices to determine future prices Markets are efficient because they absorb all current information into the stock price Several different conditions of efficiency: o Weak versus strong efficiency o Weak efficie
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