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FINANCIAL MARKET COURSES

Introduction to Macroeconomics

Courses In This Course

This course will provide you with a solid understanding of the key concepts in macroeconomics. It covers the measurement and determinants of GDP, the most widely used indicator of economic activity. The subjects of inflation and unemployment and the relationship between them are described in detail. The course also covers the balance of payments, and the use of monetary and fiscal policy to influence the level of economic activity.

Objectives

In this course, you will explore:

The key principles of Islam as they apply to banking and finance activities

The fundamentals of GDP as an indicator of economic activity

The importance of inflation, unemployment, and the balance of payments in relation to the financial markets

The use of monetary and fiscal policy as macroeconomic stabilization tools, and why one policy is generally favored over the other

Prerequisite Knowledge

A basic understanding of financial markets is assumed.

Learner Profile

This course is designed for:

New recruits to banking and financial organizations

Trainee dealers and traders

Sales and marketing executives

Operations and support staff

Finance and accounting staff

IT staff

Compliance and regulatory staff

Personnel managers and recruitment staff

  •    MACROECONOMICS - GROSS DOMESTIC

       PRODUCT (GDP)

    Overview

    Gross domestic product, or GDP for short, is the most widely used indicator of economic activity. It holds extraordinary importance in terms of measuring the health of an economy, and is frequently quoted even in mainstream media.

     

    This course describes how GDP can be measured, using the expenditure, income, and production approaches. It shows how to calculate real GDP from nominal GDP figures, and outlines the chain-weighted technique now adopted in many countries for measuring real GDP. The course also explains the Theory of Income Determination, which focuses on the most important factors that determine the level of GDP.

    Course Duration

    90 mins

    Prerequisite Knowledge

    No prior knowledge is assumed for this course.

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  •    MACROECONOMICS - MONETARY POLICY

    Overview

    The decision to raise (or lower) interest rates affects many people directly. In the media, mortgage holders are often singled out as those with most to worry about. However, monetary policy decisions have far wider implications than merely hitting the pockets of homeowners.

     

    Monetary policy refers to actions undertaken by a central bank to influence the availability and cost of money and credit in an attempt to achieve national economic objectives. This course explains the fundamentals of monetary policy, the instruments used by central bankers to implement it, and how its effects seep through to the entire economy.

    Course Duration

    90 mins

    Prerequisite Knowledge

    Macroeconomics – Gross Domestic Product (GDP)

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  •    MACROECONOMICS - FISCAL POLICY

    Overview

    Fiscal policy is concerned with changes in government expenditure and taxation, with the primary objective of stabilizing the economy at an acceptable level of economic activity. This course describes the fundamentals of fiscal policy, the overall stance of which can be described by a government’s budget deficit policy. It covers the calculation of the budget deficit, and analyzes the role played by automatic fiscal stabilizers in addition to discretionary fiscal policy. The course also looks at how fiscal policy has fallen out of favor in recent years, with the economics mainstream promoting activist monetary policy as a more effective stabilization tool.

    Course Duration

    75 mins

    Prerequisite Knowledge

    Macroeconomics – Gross Domestic Product (GDP)

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  •    MACROECONOMICS - INFLATION

    Overview

    Inflation is a global phenomenon that impacts everyone. For example, one of its consequences is that central banks (whose primary objective is generally to control inflation) increase the cost of borrowing in order to curb inflation. This makes mortgage holders and other borrowers more nervous, as repayments become more problematic in a higher interest rate environment.

     

    This course deals with the phenomenon of inflation. It looks at the definition of inflation and various methods of measuring inflation. It provides information on important consumer price indexes world wide, and examines the causes of inflation and theories that explain the causes. The course also looks at the various costs to the economy associated with inflation.

    Course Duration

    60 mins

    Prerequisite Knowledge

    Macroeconomics – Gross Domestic Product (GDP)

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  •    MACROECONOMICS - UNEMPLOYMENT

    Overview

    High and prolonged unemployment is a sign of a malfunctioning economy. The consequences of unemployment affect business in several ways – it imposes large social welfare costs that have to be financed by taxation, it places strain on government’s economic policy, and it can cause political instability.

     

    This course takes a look at the different types of unemployment that occur in global economies and also explains in detail the various theories of unemployment.

    Course Duration

    50 mins

    Prerequisite Knowledge

    Macroeconomics – Inflation

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  •    MACROECONOMICS - BALANCE OF

       PAYMENTS

    Overview

    The balance of payments is a statement that summarizes the economic transactions of a country with the rest of the world during a specific time period, usually a year or quarter. It records all payments made to other economies as well as all payments received from other economies.

     

    This course introduces the concept of the balance of payments. Beginning by looking at the sub-components of this statement – the current and capital and financial accounts – the course then moves on to explain how transactions are recorded in the balance of payments, and why it must always balance. The course concludes by looking at the politically-charged issue of funding balance of payments deficits.

    Course Duration

    60 mins

    Prerequisite Knowledge

    Macroeconomics – Gross Domestic Product (GDP)

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