This course provides a structured introduction to Equity Markets and Market Efficiency as part of the CFA Level I Equity Investments curriculum. It is designed for finance students, equity analysts, and CFA candidates who want to understand how equity markets operate and how prices reflect available information.

The course explains how financial markets are organized, including primary and secondary markets, exchanges, and alternative trading systems. Learners will explore different market participants and the role they play in providing liquidity and price discovery.

In addition, the course covers security market indexes, including how indexes are constructed, weighted, and maintained. You will learn how indexes are used as benchmarks for portfolio performance and as the basis for passive investment strategies.

A key part of the course focuses on market efficiency and the Efficient Market Hypothesis. Topics include weak, semi-strong, and strong forms of market efficiency, behavioral finance challenges, and the implications of efficiency for active and passive investing.

By the end of this course, students will understand equity market structure, index-based investing, and how market efficiency affects investment decisions in real financial markets.