Market efficiency can be defined using three differing strengths; weak form, semi strong form, and strong form. Critically analyse and evaluate the three differing strengths of market efficiency, ensuring the response integrates relevant empirical research within this area of study.(35 marks)

In this section students should demonstrate an understanding and knowledge of the theoretical aspects that underpin the differing strengths of market efficiency. The evaluation should be supported with relevant, contemporary, academic research that has been undertaken within this field and should be referenced accordingly. Ensure the response does not become overly descriptive within its approach, rather attempts to incorporate a critical perspective integrating relevant academic literature, allowing logical conclusions to be proposed.

Total for Part A - 50 marks