(a) Your company is looking at investing in a new market and is concerned about the level of information efficiency. Explain to your Managing Director the Efficient Market Hypothesis and how it may impact the ability of the company to earn supernormal profits. [10 marks]

(b) What are the economic implications if the Caribbean markets are less than weak form efficient? [4 marks]

(c) Briefly discuss the implications EMH for investment policy as it applies to Technical Analysis and Fundamental Analysis. [6 marks]