“This program helps bring you in line with the current economic environment.”
FX & IR Trader,
ING Bank (Eurasia), Russia


Understanding Global Macroeconomics
Get the BIG picture
Overview

Managers, especially those working in the finance sector, are bombarded by macroeconomics and financial news from around the world. Since almost all decisions in this increasingly interconnected world depend on both macro and foreign developments, it is important for managers to understand how to integrate this information into a coherent framework, especially during turbulent times.

Understanding Global Macroeconomics is a brief refresher program in macroeconomics, with a strong emphasis on international and financial applications. Understanding macroeconomic developments and their effect on business and finance is crucial in today’s world.

During the program we do two things simultaneously. First, we develop/review simple models of the goods and services, asset, capital, and labor markets, to be able to generate realistic predictions about the behavior of macroeconomic variables such as output, employment, inflation, the trade balance, and interest and exchange rates. At the same time, we apply these models to understand and interpret current and historical macroeconomic developments. There is a particular emphasis on understanding contemporary issues of global significance such as the consequences of Brexit, the impact of Trump, the Global Financial Crisis of 2008-09 and subsequent Euro crisis, and the Asian growth slowdown.

 
How you will benefit
 
  • Understand the economic forces that are driving growth and business cycles around the world
  • Acquire a clearer understanding of the linkages between the real economy and the movements of major exchange rates, interest rates and the stock market 
  • Understand an analytic framework with the ability to understand the causes and consequences of major current events such as Brexit, Trump’s fiscal policy, the global financial crisis, and the drop-off in Chinese growth
  • Decipher the motivation and the actions of policy-makers as the United States moves away from zero interest rates while Europe and Japan do not
  • Understand the factors behind currency and financial crises in developing and developed countries

 

This program is offered in association with:
UC Berkeley - Center for Executive Education

Content

Introduction to Aggregate Demand and Aggregate Supply 

  • Global business cycles: monetary and productivity shocks 
    - Lift-off, oil prices and Brexit

The Multiplier Model 

  • Fiscal policy: government spending, taxes, and implicit liabilities
    - Trump, banking crises, and debt

Asset Markets and the Nominal Side: Inflation, Money, and Interest Rates

  • Money demand and supply: Central banks and monetary independence
  • The quantity theory, money multipliers and the transmission mechanism
  • Nominal and real interest rates
    - Quantitative Easing
    - the Liquidity Trap
    - Negative Interest Rates – a return to normal?

Case Study: The subprime crisis – can it happen again?

Opening the Economy: Capital Flows, Exchange Rates, and the Current Account 

  • Capital flows and country characteristics
  • The real exchange rate and the current account
    - Global imbalances
  • Theory and evidence on purchasing power parity

The Open Economy “Mundell-Fleming” Model of Capital Mobility 

  • Monetary policy and Mundell’s “Holy Trinity”
  • Exchange rate regimes, currency crises

Case Study: What should China do with the yuan?

 
Who should attend

Understanding Global Macroeconomics is applicable to any business professionals, coming from a broad range of disciplines in finance, corporate and strategic planning, advisory work, and financial regulatory bodies.

Faculty
Andrew K. Rose 

Andrew K. Rose is the B.T. Rocca Jr. Professor of International Business in the Economic Analysis and Policy Group, Haas School of Business at the University of California, Berkeley.  He is a Research Associate of the National Bureau of Economic Research (based in Cambridge, MA), a Research Fellow of the Centre for Economic Policy Research (based in London, England).  He received his PhD from the Massachusetts Institute of Technology (MIT), his M.Phil. from Nuffield College, University of Oxford, and his BA from Trinity College, University of Toronto.

Accreditation

CFA Institute - CE credit hours
Amsterdam Institute of Finance is registered with CFA Institute as an Approved Provider of continuing education programs. This program is eligible for 12 CE credit hours as granted by CFA Institute. If you are a CFA Institute member, CE credit for your attendance at this event will be automatically recorded in your CE Diary.
CFA Institute_CE Qualified Activity

 

VBA - PE points
The VBA in the Netherlands is the association for investment professionals and their customers.  For members of the VBA, this program has been granted 20 PE points as part of their continuing education (PE - Permanente Educatie) program.

VBA_20_PE

 


Dates & fees
12 - 13 October 2017 € 2,500

Program fee includes all study materials, books and software that are required for the program as well as daily luncheons.
Program fee is exempt from VAT for clients located in the Netherlands. For other EU and Non-EU clients, VAT may be due by client and will not be charged by AIF. Fees may be subject to change.
Testimonials

100% of the attendees in the May 2016 session would recommend this program to their colleagues. (Note: the program was called Macroeconomics and Global Financial Markets)

 ________________


“Program gives a good overview on the subject and is relevant in the current economic scenario.”
Quantitative Strategist
NN Investment Partners
The Netherlands

 

“Very insightful both on macroeconomic topics as on country and large economies insight.”
Business Manager
Rabobank
The Netherlands

 

"I would recommend this course to those who need to understand international economics and finance.”
Chief Consultant
Eksport Kredit Fonden
Denmark

 

“The material is clearly explained with a lot of practical examples.”
Associate Director, Treasury
NIBC Bank
The Netherlands

 

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