Fundamentals of Economics and Financial Markets
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This course provides an assessment of the current economic scenarios of the G7 nations and the implications on the financial markets, for policy makers and investors alike.
Key Learning Outcomes:
- Understand macroeconomic fundamentals
- See the big picture - drivers, key indicators, issues of the day
- Acknowledge economics as the science of manipulating macro wealth - for what reason?
- Be able to apply the knowledge practically to their role
- Understand how macro factors might have an effect on different asset classes
- Analyse real, current data and explain its impact on the financial markets
Overview of the G7 Economies
- What is the current state of the major economies?
- To what extent are we dependent upon the US and Chinese consumer?
- What should the economies look like?
- What is the trend growth rate?
Macro-economic Policy Tools
- Fiscal Policy - Is there a limit to how much governments can spend?
- Who will be the next Greece?
- How sustainable are the developed world deficits?
- Monetary Policy
- Traditional vs. unconventional methods
- What else can central banks do when interest rates are zero?
Analysis of Asset Bubbles and the Credit Crunch
- How common are asset bubbles and what are the similarities?
- What links an equity bubble in 18th century France to the credit bubble of 2007?
- Why do investors not realize a bubble is forming?
- Exercise: Using behavioral finance tests we can explore the extent to which participants are rational
- What lessons can we learn from previous bubbles?
Monetary Policy Committee Exercise
- Using extensive economic data from the Bank of England Inflation report and analysis of current state of the economy
- Predictions as to the future path of interest rates as part of an exercise
- Comparison of delegate predictions with market forecasts