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Macroeconomic Financial Accounts

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Macroeconomic Financial Accounts

Instructors: Giuseppe De Arcangelis

3,860 already enrolled

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6 modules

Gain insight into a topic and learn the fundamentals.

14 reviews

Intermediate level

Recommended experience

3 weeks to complete

at 10 hours a week

Flexible schedule

Learn at your own pace

6 modules

Gain insight into a topic and learn the fundamentals.

14 reviews

Intermediate level

Recommended experience

3 weeks to complete

at 10 hours a week

Flexible schedule

Learn at your own pace

Skills you'll gain

Tools you'll learn

Microsoft Excel

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Add to your LinkedIn profile

Assessments

23 assignments¹

AI Graded see disclaimer

Taught in English

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There are 6 modules in this course

This course is primarily aimed at undergraduates attending their final year or University students in monetary and financial economics, international macroeconomics and data mining. Professionals in Government institutions, Central Banks, business and the financial industry, along with other professionals interested in finance and macroeconomics, may also benefit from this course. The lectures, the tutorials and the activities lead the participants, step-by-step, through the system of financial accounts and provide unique hands-on guides to the macroeconomic databanks of the major national and international institutions (OECD, European Central Bank, US Federal Reserve System, Bank for International Settlements, IMF). At the end of the course students will gain a clear overview of the financial connections among the institutional sectors in market economies. Student activities include manipulations of data obtained from institutional websites with spreadsheets in order to construct tables and graphs.

This course is primarily designed for undergraduates attending their final year or Master’s students in monetary and financial economics, international macroeconomics and data mining. Professionals in Government institutions, Central Banks, business and the financial industry, along with other professionals interested in finance and macroeconomics, may also benefit from this course. The lectures, the tutorials and the activities lead the participants step-by-step through the system of financial accounts and provide unique hands-on guides to the macroeconomic databanks of the major national and international institutions (OECD, European Central Bank, US Federal Reserve System, Bank for International Settlements, IMF). At the end of the course students will gain a clear overview of the financial connections among the institutional sectors in market economies. Student activities include manipulations of data obtained from institutional websites with spreadsheets in order to construct tables and graphs.

What's included

11 videos16 readings5 assignments1 peer review

11 videos Total 76 minutes

Introduction Sofia Poggi 3 minutes
Introduction Francesco Ruggeri 0 minutes
Contents of Course 1 - Giuseppe De Arcangelis 3 minutes
Introduction to the Course - Daniele Fano 1 minute
1.1 Introduction to the topics of week 1- Giuseppe De Arcangelis 2 minutes
Introduction to week 1- Daniele Fano 4 minutes
Lesson 1.1.1 Financial Transactions the end of one story, the beginning of another one. 13 minutes
Lesson 1.1.2 The Identity relating net lending/net borrowing across the five institutional sectors 8 minutes
Lesson 1.1.3 Heuristic Aspects of the balancing logic and the current account balance as a proxy 7 minutes
How to select and download data from the OECD website 12 minutes
Podcast: Peter van de Ven (Head of National Accounts, OECD) 22 minutes

16 readings Total 112 minutes

Contents of Week 1 - Figures at a Glance 5 minutes
Welcome 1 minute
Introduction - Slides 10 minutes
Table 1.1.1 Figures at a Glance 5 minutes
You are ready for Topic 1 1 minute
Slides 1.1.1 Financial Transactions: the end of one story, the beginning of another one. 10 minutes
You are ready for Topic 2 1 minute
Slides 1.1.2 The Identity relating net lending/net borrowing across the five institutional sectors 10 minutes
Table 1.1.2 b net lending/net borrowing across sectors 10 minutes
You are ready for Topic 3 1 minute
Slides 1.1.3 Heuristic Aspects of the balancing logic and the current account balance as a proxy 10 minutes
Table 1.1.1 Figures at a Glance 10 minutes
SNA definitions: Institutional Sectors 15 minutes
Reference Reading 0 minutes
Daniele Fano and Peter van de Ven 1 minute
Podcast audio Peter van de Ven (Head of National Accounts, OECD) 22 minutes

5 assignments Total 70 minutes

1.1.1 Figures at a Glance 15 minutes
1.1.2 - Net lenders and net borrowers 15 minutes
1.1.3 The "private sector" as a proxy 10 minutes
1.1.4 - Private Sector Lending/Borrowing (as % of GDP) 15 minutes
1.1.5 - Exercise your algebra with table 1.1.1 15 minutes

1 peer review Total 60 minutes

Using the OECD as a Data Source 60 minutes

1.2 Deriving net lending/net borrowing : national economy vs. rest of the world, balancing items, sectoral breakdowns

What's included

6 videos16 readings5 assignments1 peer review

6 videos Total 58 minutes

1.2 Introduction to the topics of week 2 - Giuseppe De Arcangelis 2 minutes
Lesson 1.2.1 Insights from a national economy vs rest of the world framework 10 minutes
Lesson 1.2.2 - The sequence of accounts, the rest of the world and the balance of payments 7 minutes
Lesson 1.2.3 From the balancing items to the institutional sectors breakdowns. 13 minutes
How to select and download data from the IMF website and from the Eurostat website 9 minutes
Podcast Henning Ahnert (Head of the Financial Accounts and Fiscal Statistics section at ECB) 18 minutes

16 readings Total 120 minutes

Contents of Week 2 - Deriving net lending/net borrowing : national economy vs. rest of the world, balancing items, sectoral breakdowns 5 minutes
You are ready for Topic 1 1 minute
Slides 1.2.1 Insights from a national economy vs rest of the world framework 10 minutes
Table 1.2.1 The goods and services account 10 minutes
Tables 1.2.1 b and 1.2.1 c Value Added (GDP) appears 10 minutes
You are ready for Topic 2 1 minute
Slides 1.2.2 The Sequence of Accounts, the Rest of the World and the Balance of Payments 10 minutes
Table 1.2.2 Simplified view of the sequence of current and capital accounts 10 minutes
You are ready for Topic 3 0 minutes
Slides 1.2.3 From the balancing items to the institutional sector breakdowns 10 minutes
Tables 1.2.5 - European countries in 2018 10 minutes
USA 1952-2011- Chart 10 minutes
SNA definitions: Transactions, accounting identities, netting and consolidating 10 minutes
Reference Reading 0 minutes
Giuseppe De Arcangelis and Henning Ahnert Part 1 5 minutes
Podcast audio Henning Ahnert (Head of the Financial Accounts and Fiscal Statistics section at ECB) Part 1 18 minutes

5 assignments Total 70 minutes

1.2.1 The goods and services account 15 minutes
1.2.2 Value Added (GDP) appears 15 minutes
1.2.3 - balance of payments current and capital account items 15 minutes
1.2.4 - European countries in 2018 15 minutes
1.2.5 - USA 1952-2011- 10 minutes

1 peer review Total 60 minutes

IMF and Eurostat website 60 minutes

1.3 Financial Transactions. Instruments and interconnections

What's included

9 videos15 readings4 assignments1 peer review

9 videos Total 61 minutes

1.3 Introduction to the topics of week 3 - Giuseppe De Arcangelis 2 minutes
Lesson 1.3.1. The logic of the Financial Account and its informational content 7 minutes
Lesson 1.3.2. "From whom to whom"? 6 minutes
Lesson 1.3.3. Risk, securitization and institutionalization 16 minutes
Discrepancies between the Capital Account and the Financial Account 5 minutes
Tutorial 3.1 Financial Instruments 3 minutes
Tutorial 3.2 The FED documentation 1 minute
Tutorial 3.3 Shakespeare in Finance 0 minutes
Podcast Henning Ahnert (Head of the Financial Accounts and Fiscal Statistics section at ECB) Part 2 20 minutes

15 readings Total 122 minutes

Contents of Week 3 - Financial Transactions. Instruments and interconnections 5 minutes
You are ready for Topic 1 1 minute
Slides 1.3.1. The logic of the Financial Account and its informational content 10 minutes
Table 1.3.1 10 minutes
Table 1.3.2- An example - this is our "worksheet"! 10 minutes
You are ready for Topic 2 0 minutes
Slides 1.3.2. "From whom to whom"? 10 minutes
Table 1.3.3-From whom to whom transactions 10 minutes
Table 1.3.4. Canada - Who are the creditors of Provincial and territorial governments ? 10 minutes
You are ready for Topic 3 1 minute
Slides 1.3.3 Risk, securitization and institutionalization 10 minutes
Slides - Discrepancies between the Capital Account and the Financial Account 10 minutes
Reference Reading 10 minutes
Giuseppe De Arcangelis and Henning Ahnert Part 2 5 minutes
Podcast audio Henning Ahnert (Head of the Financial Accounts and Fiscal Statistics section at ECB) Part 2 20 minutes

4 assignments Total 55 minutes

1.3.1-Terminology 10 minutes
Quiz 1.3.2 Financial Accounts USA 2019 15 minutes
Quiz 1.3.3 Equities From whom to whom Euro area Q1 2020 15 minutes
Quiz 1.3.4 - From whom to whom Statistics Canada 15 minutes

1 peer review Total 60 minutes

Financial Instruments 60 minutes

1.4 Stocks. Net Worth. Financial Wealth

What's included

6 videos11 readings2 assignments1 peer review

6 videos Total 39 minutes

1.4 Introduction to the topics of week 4 - Giuseppe De Arcangelis 2 minutes
Lesson 1.4.1. The Balance Sheet and its logic 11 minutes
Lesson 1.4.2. Highlights on the Institutional Sectors and Financial Net Worth 10 minutes
Lesson 1.4.3.Considerations on Households' Wealth 10 minutes
Using the OECD website for analyzing figures about levels : Financial Net Worth, International Investment Position 3 minutes
Using the IMF website for analyzing figures about levels : Financial Net Worth, International Investment Position 3 minutes

11 readings Total 77 minutes

Contents of Week 4 - Stocks. Net Worth. Financial Wealth 5 minutes
You are ready for Topic 1 1 minute
Slides 1.4.1. The Balance Sheet and its logic 10 minutes
You are ready for Topic 2 1 minute
Slides 1.4.2. Highlights on the Institutional Sectors and Financial Net Worth 10 minutes
Table 1.4.2 Financial Net Worth across Sectors 10 minutes
Tables Financial Net Worth The case of Australia Germany and Italy 10 minutes
You are ready for Topic 3 0 minutes
Slides 1.4..3 Considerations on Households' Wealth 10 minutes
SNA definitions: Quadruple accounting 10 minutes
Reference Reading 10 minutes

2 assignments Total 35 minutes

Quiz 1.4.1- Financial Net Worth Across Sectors European Countries 15 minutes
Quiz 1.4.2- Australia, Italy, Germany Net worth and its components 20 minutes

1 peer review Total 60 minutes

Financial Net Worth, IIP - From the IMF database 60 minutes

1.5 Accumulation

What's included

5 videos13 readings4 assignments1 peer review

5 videos Total 36 minutes

1.5 Introduction to the topics of week 5 Giuseppe De Arcangelis 2 minutes
Lesson 1.5.1 Accumulation Accounts in the SNA 8 minutes
Lesson 1.5.2 The relative importance of factors affecting Net Worth 9 minutes
Lesson 1.5.3 About stocks and flows across growth and cycles 15 minutes
How to update a table going to the original source. 2 minutes

13 readings Total 89 minutes

Contents of Week 5 - Accumulation 5 minutes
You are ready for Topic 1 1 minute
Slides 1.5.1 Accumulation Accounts in the SNA 10 minutes
Table 1.5.1 - The accumulation accounts at a glance... 10 minutes
Table - 1.5.2 a summary of concepts and sequences 10 minutes
You are ready for Topic 2 1 minute
Slides 1.5.2 The relative importance of factors affecting Net Worth 10 minutes
Table - 1.5.6 look further into the details 10 minutes
You are ready for Topic 3 1 minute
Slides 1.5.3 About stocks and flows across growth and cycles 10 minutes
SNA definitions: Net lending net borrowing redefined; nominal vs. real holding gains 10 minutes
Reference Reading 1 minute
"Selected Questions sent to the OECD National Statistics Department...and Answers" by Isabelle Ynesta, OECD". 10 minutes

4 assignments Total 60 minutes

1.5.1 Accumulation Accounts at a glance 15 minutes
1.5.2 a summary of concepts and sequences 15 minutes
1.5.3 Changes in net worth 15 minutes
Quiz 1.5.4 – Stocks and flows 15 minutes

1 peer review Total 60 minutes

Changes in valuations 60 minutes

1.6 Financial Accounts, Economic and Monetary Policy, Stability

What's included

7 videos17 readings3 assignments

7 videos Total 86 minutes

1.6 Introduction to the topics of week 6 - Giuseppe De Arcangelis 2 minutes
Lesson 1.6.1. Macro-financial tools for evaluating stability 18 minutes
Lesson 1.6.2. Past and present: from the 2007-2009 crisis to Covid-19 11 minutes
Lesson 1.6.3. The main available reports and documents. 7 minutes
Podcast Part 1 Bruno Tissot (Head of Statistics and Research Support at the BIS and Head of the Secretariat of the Irving Fisher Committee on Central Bank Statistics (IFC) 14 minutes
Podcast Part 2 Bruno Tissot (Head of Statistics and Research Support at the BIS and Head of the Secretariat of the Irving Fisher Committee on Central Bank Statistics (IFC) 15 minutes
Podcast Part 3 Bruno Tissot (Head of Statistics and Research Support at the BIS and Head of the Secretariat of the Irving Fisher Committee on Central Bank Statistics (IFC) 19 minutes

17 readings Total 116 minutes

CONTENTS of WEEK 6 - Financial Accounts, Economic and Monetary Policy, Stability 5 minutes
You are ready for Topic 1 1 minute
Slides 1.6.1 Macro-financial tools for evaluating stability 15 minutes
You are ready for Topic 2 1 minute
Slides 1.6.2. Past and present: from the 2007-2009 crisis to Covid-19 10 minutes
You are ready for Topic 3 1 minute
Slides 1.6.3. The main available reports and documents 10 minutes
Correspondence table between US flow of funds and SNA Financial accounts 10 minutes
Reference Reading 1 minute
"Selected Questions sent to the OECD National Statistics Department...and Answers" by Isabelle Ynesta, OECD". 10 minutes
Daniele Fano and Bruno Tissot Part 1 0 minutes
Podcast audio Part 1 13 minutes
Daniele Fano and Bruno Tissot Part 2 1 minute
Podcast audio Part 2 14 minutes
Daniele Fano and Bruno Tissot Part 3 1 minute
Podcast audio Part 3 18 minutes
Multiple-choice quiz 5 minutes

3 assignments Total 120 minutes

Quiz 1.6.1 – The Operational Deficit 15 minutes
Quiz 1.6.2 - Stability and sustainability 15 minutes
Final test 90 minutes

Instructors

Instructor ratings

(10 ratings)

Giuseppe De Arcangelis

Sapienza University of Rome

2 Courses 3,981 learners

Daniele Fano

Sapienza University of Rome

2 Courses 3,981 learners

Offered by

Sapienza University of Rome

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Reviewed on Feb 25, 2022

The course was well-prepared and the objective was successfully addressed. The speakers did their best in explaining all the concepts related to the course. Well done!

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