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What is the economic process that produces a random walk?
What is an efficient market?
Distinguish the three levels of market efficiency.
Discuss the common misconceptions surrounding the efficient market hypothesis.
Describe the types of tests that have been commonly employed to verify the weak-form efficient market hypothesis.
Discuss the evidence of event studies.
Discuss the evidence of portfolio studies.
Evaluate the empirical evidence on strong-form efficient market hypothesis.
What calendar anomalies have been found?
What is the evidence on the interest rate behaviour?
Comment on the crash of 1987.
What is the verdict on efficient market hypothesis?
Discuss the lessons that can be drawn from what we have learnt about market efficiency or the lack of it.
Why does the debate of market efficiency persist?
Why do Crossman and Stiglitz believe in the impossibility of informationally efficient markets.