This course provides an in-depth analysis of Macroeconomic Financial Accounts. Each module will delve into one specific Institutional Sector of the National Economy i.e., Financial and non-Financial Corporations, Households, the Government. The Rest of the World is also covered. Students are expected to have a basic understanding of macroeconomic principles and financial accounting. Course 1 or equivalent knowledge is recommended for those with limited experience in macroeconomic financial accounting. Proficiency in using spreadsheets for data analysis is also beneficial. Undergraduates in their final year or university students interested in monetary and financial economics, international macroeconomics, and data mining can benefit from this course. Professionals in government institutions, central banks, business, and the financial industry, along with other individuals interested in finance and macroeconomics, may also find this course valuable. By the end of this course, students will gain a deeper understanding of the financial connections among and within the institutional sectors in market economies.
This course provides an in-depth analysis of Macroeconomic Financial Accounts. Each module will delve into one specific Institutional Sector of the National Economy i.e., Financial and non-Financial Corporations, Households, the Government. Altough not considered an Institutional Sector but the complement to the Domestic Economy, the Rest of the World is also covered. Students are expected to have a basic understanding of macroeconomic principles and financial accounting. Course 1 or equivalent knowledge is recommended for those with limited experience in macroeconomic financial accounting. Proficiency in using spreadsheets for data analysis is also beneficial. Undergraduates in their final year or university students interested in monetary and financial economics, international macroeconomics, and data mining can benefit from this advanced course. Professionals in government institutions, central banks, business, and the financial industry, along with other individuals interested in finance and macroeconomics, may also find this course valuable. The lectures, tutorials, and activities guide participants step-by-step through the characteristics of the Institutional Sectors. References to the macroeconomic databanks of major national and international institutions (OECD, European Central Bank, US Federal Reserve System, Bank for International Settlements, IMF) are included. By the end of this course, students will gain a deeper understanding of the financial connections among and within the Institutional Sectors in market economies. Student activities include manipulating data downloaded from institutional websites with spreadsheets to construct tables and graphs.
What's included
10 videos12 readings1 peer review
Show info about module content
10 videos•Total 154 minutes
Welcome to Course 2•5 minutes
1.1 Introduction to the topics of week 1- Giuseppe De Arcangelis•2 minutes
Lesson 2.1.1. Financial figures and the never-ending challenge of staying ahead of events•9 minutes
Lesson 2.1.2. Sectors in current macroeconomics and in the sequence of accounts -a recap•14 minutes
Lesson 2.1.3. Same key figures, different macro databases, different highlights•5 minutes
Lesson 2.1.4. Special databases and micro-data•4 minutes
Podcast: Peter van de Ven (Head of SNA Review Committee)•21 minutes
Podcast: Bruno Tissot (Bank for International Settlements)•30 minutes
Podcast: Henning Ahnert (European Central Bank)•22 minutes
Podcast: Jorrit Zwijnenburg (OECD)•42 minutes
12 readings•Total 295 minutes
Contents of Week 1•30 minutes
You are ready for Topic 1•5 minutes
Slides 2.1.1 Financial figures and the never-ending challenge of staying ahead of events•30 minutes
You are ready for Topic 2•30 minutes
Slides 2.1.2. Sectors in current macroeconomics and in the sequence of accounts -a recap•30 minutes
You are ready for Topic 3•30 minutes
Slides 2.1.3. Same key figures, different macro databases, different highlights•30 minutes
You are ready for Topic 4•10 minutes
Slides 2.1.4. Special databases and micro-data•30 minutes
The historical context•10 minutes
Reference Reading Week1•30 minutes
Presentation of the podcasts•30 minutes
1 peer review•Total 60 minutes
The role of institutional units in the economy•60 minutes
Week 2 -- Financial corporations in the financial system
Module 2•8 hours to complete
Module details
This week’s lectures will provide a comprehensive understanding of financial corporations, their global economic roles, and their impact on monetary policy. Prepare to engage with Andreas, Gabriele, and Miguel to deepen your knowledge of this vital sector
What's included
6 videos13 readings1 peer review
Show info about module content
6 videos•Total 55 minutes
1.2 Introduction to the topics of week 2 - Giuseppe De Arcangelis•2 minutes
Lesson 2.2.1. Overview of Financial institutions and their roles in the financial system•11 minutes
Lesson 2.2.2. Captive financial institutions and money lenders (CFIs, sector S.127)
- Part I•14 minutes
Lesson 2.2.2. Captive financial institutions and money lenders (CFIs, sector S.127)
- Part II•9 minutes
Lesson 2.2.3 The analysis of financial corporations at the ECB•16 minutes
Lesson 2.2.4 Analysing the financial sector – key indicators•3 minutes
13 readings•Total 390 minutes
Contents of Week 2•30 minutes
You are ready for Topic 1•30 minutes
Slides 2.2.1. Overview of Financial institutions and their roles in the financial system•30 minutes
Slides 2.2.2. Captive financial institutions and money lenders (CFIs, sector S.127)
- Part I•30 minutes
Slides 2.2.2. Captive financial institutions and money lenders (CFIs, sector S.127)
- Part II•30 minutes
You are ready for Topic 3•30 minutes
Slides 2.2.3 The analysis of financial corporations at the ECB - Intro•30 minutes
Slides 2.2.3 The analysis of financial corporations at the ECB•30 minutes
You are ready for Topic 4•30 minutes
Slides 2.2.4 Analysing the financial sector – key indicators•30 minutes
Reference Reading Week 2•30 minutes
1 peer review•Total 60 minutes
Assignment 2•60 minutes
Week 3 - Households and their financial behavior
Module 3•6 hours to complete
Module details
This week Riccardo De Bonis from the Bank of Italy will help us understand the financial behaviour of households, a central theme in economic analysis.
What's included
5 videos10 readings1 peer review
Show info about module content
5 videos•Total 28 minutes
1.3 Introduction to the topics of week 3 - Giuseppe De Arcangelis•2 minutes
Lesson 2.3.1. Household financial behaviour in context•4 minutes
Lesson 2.3.2. Why wealth matters•7 minutes
Lesson 2.3.3. How economies differ as far as household wealth is concerned•12 minutes
2.3.4 Some Conclusions•3 minutes
10 readings•Total 260 minutes
Contents of Week 3 - Financial Transactions. Instruments and interconnections•30 minutes
You are ready for Topic 1•30 minutes
Slides 2.3.1. Household financial behaviour in context•30 minutes
You are ready for Topic 2•30 minutes
Slides 2.3.2. Why wealth matters•30 minutes
You are ready for Topic 3•30 minutes
Slides 2.3.3. How economies differ as far as household wealth is concerned•30 minutes
Conclusions Summary•10 minutes
2.3.4 Some Conclusions•10 minutes
Reference Reading Week 3•30 minutes
1 peer review•Total 60 minutes
Assignment 3•60 minutes
Week 4 -The changing role of Non-financial Corporations
Module 4•6 hours to complete
Module details
This week we focus on the financial behaviour of non-financial corporations
What's included
4 videos8 readings1 peer review
Show info about module content
4 videos•Total 44 minutes
1.4 Introduction to the topics of week 4 - Giuseppe De Arcangelis•2 minutes
Lesson 2.4.1 Non-financial corporation funding and leverage•11 minutes
Lesson 2.4.2 Business accounting and national accounting: the case of capital•18 minutes
Lesson 2.4.3 From net borrowers to net lenders•12 minutes
8 readings•Total 240 minutes
Contents of Week 4 - The changing role of Non-financial Corporations•30 minutes
You are ready for Topic 1•30 minutes
Slides 2.4.1 Non-financial corporation funding and leverage•30 minutes
You are ready for Topic 2•30 minutes
Slides 2.4.2 Business accounting and national accounting: the case of capital•30 minutes
You are ready for Topic 3•30 minutes
Slides 2.4.3 From net borrowers to net lenders•30 minutes
Reference Reading Week 4•30 minutes
1 peer review•Total 60 minutes
Assignments 4•60 minutes
Week 5 - Deficit and Debt of General Government and of Public Sector
Module 5•5 hours to complete
Module details
The role of governments in the financial functions of market economies
What's included
4 videos7 readings1 peer review
Show info about module content
4 videos•Total 43 minutes
1.5 Introduction to the topics of week 5 Giuseppe De Arcangelis•2 minutes
Lesson 2.5.1 Delineating the government sector•13 minutes
Lesson 2.5.2 General Government: Key Financial Account Indicators•18 minutes
Lesson 2.5.3 Differences with other sectors’ Financial Accounts•10 minutes
7 readings•Total 210 minutes
Contents of Week 5 - Deficit and Debt of General Government and of Public Sector•30 minutes
You are ready for Topic 1•30 minutes
Slides 2.5.1 Delineating the government sector•30 minutes
You are ready for Topic 2•30 minutes
Slides 2.5.2 General Government: Key Financial Account Indicators•30 minutes
You are ready for Topic 3•30 minutes
Slides 2.5.3 Differences with other sectors’ Financial Accounts•30 minutes
1 peer review•Total 60 minutes
Assignment 5•60 minutes
Week 6 - The Rest of the World and the domestic economy
Module 6•11 hours to complete
Module details
The Balance of Payments and the International Investment Position.
What's included
6 videos11 readings1 assignment1 peer review
Show info about module content
6 videos•Total 68 minutes
2.6 Introduction to the topics of week 6 - Claudio Sardoni•3 minutes
Lesson 2.6.1. On the balance of payments and the Rest of the World once more•13 minutes
Lesson 2.6.2. The financial account of the balance of payments and the international investment position. (Part I)•10 minutes
Lesson 2.6.2. The financial account of the balance of payments and the international investment position. (Part II)•8 minutes
Lesson 2.6.3. Migrants’ Remittances: a goldmine for developing countries•13 minutes
Podcast with Dean Yang (University of Michigan) on Migrants' Remittances•23 minutes
11 readings•Total 330 minutes
Contents of week 6 - The Rest of the World and the domestic economy•30 minutes
You are ready for Topic 1•30 minutes
Slides 2.6.1. On the balance of payments and the Rest of the World once more•30 minutes
You are ready for Topic 2•30 minutes
Slides 2.6.2. The financial account of the balance of payments and the international investment position. (Part I)•30 minutes
Slides 2.6.2. The financial account of the balance of payments and the international investment position. (Part II)•30 minutes
You are ready for Topic 3•30 minutes
Slides 2.6.3. Migrants’ Remittances: a goldmine for developing countries•30 minutes
Sapienza University of Rome, founded in 1303 by Pope Boniface VIII, is the oldest University in Rome and the largest in Europe.
Since its founding over 700 years ago, Sapienza has played an important role in Italian history and has been directly involved in key changes and developments in society, economics and politics. It has contributed to the development of Italian and European science and culture in all areas of knowledge.
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