An online self-pace course powered by Fintelligence.

Learning content

The subject of macroeconomics explains key concepts of an economy at an aggregate level. In particular, important aspects of economic and fiscal policies are highlighted.
Furthermore, the nature of money and inflation as well as the monetary policy of central banks is discussed. In addition, issues of public accounts and government debt are highlighted. Within the framework of the external economy, balance of payments and different exchange rate systems are in the foreground.

Target Audience

Asset managers, portfolio managers, investment analysts, traders, market specialists, treasury managers, client advisors, product specialists.

Learning agenda and time 

1. Introduction (35 minutes)
2. Money, inflation, monetary policy (40 minutes)
3. Fiscal policy and government debt (35 minutes)
4. Balance of payments (35 minutes)
5. Exchange rates (30 minutes)
6. Learning control (15 minutes)

Learning agenda and time 

'Introduction'
By studying this module, you will achieve the following learning goals:

• You understand the importance of the macroeconomy and the economic money and goods cycle.
• You understand the concept of the Gross Domestic Product (national income) and know about the different methods to determine it.
• You know about inflation and purchasing power as well as their measurement and can distinguish nominal and real variables.
• You are familiar with the context of macroeconomic saving and investment.

'Money, inflation, monetary policy'
By studying this module, you will achieve the following learning goals:

• You will be able to explain the functions of money and know the basic demarcation of different measures of money supply.
• You will know the main determinants of money supply and demand.
• You will understand the process of money creation in a national economy and the mechanisms of monetary policy instruments.
• You will be aware of the monetary policy concept of central banks.
• You will understand the phenomenon of inflation and deflation as well as the accompanying implications for the national economy.

'Fiscal policy and government debt'
By studying this module, you will achieve the following learning goals:

• You will be able to distinguish the difference between economy and growth, as well as the different phases of the economic cycle.
• You will understand the difference as well as the orientation of supply-driven and demand-driven fiscal policy.
• You will know the connection between government finances and debt, and also understand the debt situation of relevant countries.
• You will understand the various implications that result from government debt.
• You will grasp the relationship and interdependence between government and private debt.

'Balance of payments'
By studying this module, you will achieve the following learning goals:

• You will understand the structure and component balances of the balance of payment in a national economy.
• You will be familiar with the economic significance of the current account and its relation to national savings and investments.
• You understand the differences between fiscal and current account deficits.
• You can identify the options available for financing deficits in the current account.

'Exchange rates'
By studying this module, you will achieve the following learning goals:

• You are aware of the key factors that determine the exchange rates.
• You understand the economic consequences of exchange rate movements.
• You are familiar with important currency systems and you are particularly aware of the disadvantages of fixed exchange rates or a currency union.

Method

Self-study via interactive e-learning module with discoverable content and videos plus final learning control via online test.

Learning control

Your online self-control test consists of 15 to 20 multiple choice questions. You will pass the test if you reach at least 70% of the maximum score.

Accreditation

You will receive CPD hours from CISI related to the number of training hours.

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