Twicet

This two day course will examine all aspects of global economics in relation to the global financial markets. By examining how economic fundamentals impact on financial assets such as equities, bonds and currencies, delegates will gain a better understanding of how to interpret economic news and anticipate market reaction. As well as an introduction to basic economic principles that impact the markets, the course will also discuss the role of monetary and fiscal policy and the more recent developments such as cryptocurrencies and Brexit.

	TBC
	Duration: Two days (9.00am to 5.00pm)
	Location: The Tower Hotel – London, UK
	Trainer: James Sharpe
	Course fee: £1890 + VAT – Register online

Course Outline

Introduction

+ What is Economics?
+ Economic Growth and the business cycle
+ Aggregate demand and the flow of income
+ What is GDP?
+ How is GDP measured
+ Determinants of relative economic growth?
+ Determining Consumption, Investment, Savings
+ Productivity
+ Output gap
+ Demographics
+ Impact of Globalisation
+ Outlook
+ What causes recessions?
+ Debt

Bubbles and Crises

+ General Models
+ What are currency crises?
+ 1st Generation to 3rd Generation Models
+ Twin Crises-currency/banking
+ Sudden ‘stops’
+ Effects

The Problem with Data

+ The need for statistics
+ Inaccurate data and revisions. Why?
+ The world has changed! It is a digital world
+ A new labour market
+ Reporting errors and their impact
+ The problem with surveys
+ What data matters?
+ Media obsessions

Inflation

+ Inflation defined
+ How do we measure, problems with indices
+ Causes and Consequences
+ Phillips Curve
+ Deflation
+ Inflation Management-what to watch
+ Inflation and the exchange rate
+ Inflation and Asset prices
+ Outlook

Fiscal Policy

+ Fiscal policy
+ Role in demand management
+ Deficits, fiscal drag and automatic stabilisers
+ Do deficits matter- things to watch
+ Fiscal policy and interest rates
+ Fiscal vs. monetary policy

Balance of Payments

+ Balance of Payments accounting
+ Define current account, do deficits matter
+ Problems with surpluses and deficits
+ Absorption Approach
+ Devaluation

Foreign Exchange

+ Foreign exchange determination
+ Foreign exchange crisis models
+ PPP, relative PPP, uncovered interest parity, covered interest parity
+ Carry trades
+ Role of government
+ Hedging and overlay
+ Volatility and liquidity
+ Cryptocurrencies

Monetary Policy

+ What is money?
+ Role of money and economic activity
+ Money and credit
+ Role of central banks
+ Fixing the price versus fixing the quantity
+ Transmission mechanism
+ Money supply targeting vs. inflation targeting
+ Equilibrium interest rates
+ Taylor Rule
+ QE and its impact
+ Monitoring central banks- forward guidance/expectations