Macroeconomic Financial Accounts

Instructors: Giuseppe De Arcangelis

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6 modules

Gain insight into a topic and learn the fundamentals.

4.4

(11 reviews)

Intermediate level

Recommended experience

28 hours to complete

3 weeks at 9 hours a week

Flexible schedule

Learn at your own pace

6 modules

Gain insight into a topic and learn the fundamentals.

4.4

(11 reviews)

Intermediate level

Recommended experience

28 hours to complete

3 weeks at 9 hours a week

Flexible schedule

Learn at your own pace

Details to know

Shareable certificate

Add to your LinkedIn profile

Assessments

23 assignments

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 videosTotal 75 minutes

Introduction Sofia Poggi2 minutesPreview module
Introduction Francesco Ruggeri0 minutes
Contents of Course 1 - Giuseppe De Arcangelis2 minutes
Introduction to the Course - Daniele Fano0 minutes
1.1 Introduction to the topics of week 1- Giuseppe De Arcangelis2 minutes
Introduction to week 1- Daniele Fano4 minutes
Lesson 1.1.1 Financial Transactions the end of one story, the beginning of another one.12 minutes
Lesson 1.1.2 The Identity relating net lending/net borrowing across the five institutional sectors7 minutes
Lesson 1.1.3 Heuristic Aspects of the balancing logic and the current account balance as a proxy7 minutes
How to select and download data from the OECD website12 minutes
Podcast: Peter van de Ven (Head of National Accounts, OECD)22 minutes

16 readingsTotal 112 minutes

Contents of Week 1 - Figures at a Glance5 minutes
Welcome1 minute
Introduction - Slides10 minutes
Table 1.1.1 Figures at a Glance5 minutes
You are ready for Topic 11 minute
Slides 1.1.1 Financial Transactions: the end of one story, the beginning of another one.10 minutes
You are ready for Topic 21 minute
Slides 1.1.2 The Identity relating net lending/net borrowing across the five institutional sectors10 minutes
Table 1.1.2 b net lending/net borrowing across sectors10 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 proxy10 minutes
Table 1.1.1 Figures at a Glance10 minutes
SNA definitions: Institutional Sectors15 minutes
Reference Reading0 minutes
Daniele Fano and Peter van de Ven1 minute
Podcast audio Peter van de Ven (Head of National Accounts, OECD)22 minutes

5 assignmentsTotal 70 minutes

1.1.1 Figures at a Glance15 minutes
1.1.2 - Net lenders and net borrowers 15 minutes
1.1.3 The "private sector" as a proxy10 minutes
1.1.4 - Private Sector Lending/Borrowing (as % of GDP)15 minutes
1.1.5 - Exercise your algebra with table 1.1.115 minutes

1 peer reviewTotal 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 videosTotal 57 minutes

1.2 Introduction to the topics of week 2 - Giuseppe De Arcangelis1 minutePreview module
Lesson 1.2.1 Insights from a national economy vs rest of the world framework9 minutes
Lesson 1.2.2 - The sequence of accounts, the rest of the world and the balance of payments6 minutes
Lesson 1.2.3 From the balancing items to the institutional sectors breakdowns.12 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 readingsTotal 120 minutes

Contents of Week 2 - Deriving net lending/net borrowing : national economy vs. rest of the world, balancing items, sectoral breakdowns5 minutes
You are ready for Topic 11 minute
Slides 1.2.1 Insights from a national economy vs rest of the world framework10 minutes
Table 1.2.1 The goods and services account10 minutes
Tables 1.2.1 b and 1.2.1 c Value Added (GDP) appears10 minutes
You are ready for Topic 21 minute
Slides 1.2.2 The Sequence of Accounts, the Rest of the World and the Balance of Payments10 minutes
Table 1.2.2 Simplified view of the sequence of current and capital accounts10 minutes
You are ready for Topic 30 minutes
Slides 1.2.3 From the balancing items to the institutional sector breakdowns10 minutes
Tables 1.2.5 - European countries in 201810 minutes
USA 1952-2011- Chart10 minutes
SNA definitions: Transactions, accounting identities, netting and consolidating10 minutes
Reference Reading0 minutes
Giuseppe De Arcangelis and Henning Ahnert Part 15 minutes
Podcast audio Henning Ahnert (Head of the Financial Accounts and Fiscal Statistics section at ECB) Part 1 18 minutes

5 assignmentsTotal 70 minutes

1.2.1 The goods and services account15 minutes
1.2.2 Value Added (GDP) appears15 minutes
1.2.3 - balance of payments current and capital account items15 minutes
1.2.4 - European countries in 201815 minutes
1.2.5 - USA 1952-2011-10 minutes

1 peer reviewTotal 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 videosTotal 61 minutes

1.3 Introduction to the topics of week 3 - Giuseppe De Arcangelis1 minutePreview module
Lesson 1.3.1. The logic of the Financial Account and its informational content7 minutes
Lesson 1.3.2. "From whom to whom"?6 minutes
Lesson 1.3.3. Risk, securitization and institutionalization15 minutes
Discrepancies between the Capital Account and the Financial Account5 minutes
Tutorial 3.1 Financial Instruments 3 minutes
Tutorial 3.2 The FED documentation1 minute
Tutorial 3.3 Shakespeare in Finance0 minutes
Podcast Henning Ahnert (Head of the Financial Accounts and Fiscal Statistics section at ECB) Part 220 minutes

15 readingsTotal 122 minutes

Contents of Week 3 - Financial Transactions. Instruments and interconnections5 minutes
You are ready for Topic 11 minute
Slides 1.3.1. The logic of the Financial Account and its informational content10 minutes
Table 1.3.110 minutes
Table 1.3.2- An example - this is our "worksheet"!10 minutes
You are ready for Topic 20 minutes
Slides 1.3.2. "From whom to whom"?10 minutes
Table 1.3.3-From whom to whom transactions10 minutes
Table 1.3.4. Canada - Who are the creditors of Provincial and territorial governments ?10 minutes
You are ready for Topic 31 minute
Slides 1.3.3 Risk, securitization and institutionalization10 minutes
Slides - Discrepancies between the Capital Account and the Financial Account10 minutes
Reference Reading10 minutes
Giuseppe De Arcangelis and Henning Ahnert Part 25 minutes
Podcast audio Henning Ahnert (Head of the Financial Accounts and Fiscal Statistics section at ECB) Part 2 20 minutes

4 assignmentsTotal 55 minutes

1.3.1-Terminology10 minutes
Quiz 1.3.2 Financial Accounts USA 201915 minutes
Quiz 1.3.3 Equities From whom to whom Euro area Q1 202015 minutes
Quiz 1.3.4 - From whom to whom Statistics Canada15 minutes

1 peer reviewTotal 60 minutes

Financial Instruments60 minutes

1.4 Stocks. Net Worth. Financial Wealth

What's included

6 videos11 readings2 assignments1 peer review

6 videosTotal 39 minutes

1.4 Introduction to the topics of week 4 - Giuseppe De Arcangelis1 minutePreview module
Lesson 1.4.1. The Balance Sheet and its logic10 minutes
Lesson 1.4.2. Highlights on the Institutional Sectors and Financial Net Worth10 minutes
Lesson 1.4.3.Considerations on Households' Wealth10 minutes
Using the OECD website for analyzing figures about levels : Financial Net Worth, International Investment Position3 minutes
Using the IMF website for analyzing figures about levels : Financial Net Worth, International Investment Position2 minutes

11 readingsTotal 77 minutes

Contents of Week 4 - Stocks. Net Worth. Financial Wealth5 minutes
You are ready for Topic 11 minute
Slides 1.4.1. The Balance Sheet and its logic 10 minutes
You are ready for Topic 21 minute
Slides 1.4.2. Highlights on the Institutional Sectors and Financial Net Worth10 minutes
Table 1.4.2 Financial Net Worth across Sectors10 minutes
Tables Financial Net Worth The case of Australia Germany and Italy10 minutes
You are ready for Topic 30 minutes
Slides 1.4..3 Considerations on Households' Wealth10 minutes
SNA definitions: Quadruple accounting10 minutes
Reference Reading10 minutes

2 assignmentsTotal 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 components20 minutes

1 peer reviewTotal 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 videosTotal 36 minutes

1.5 Introduction to the topics of week 5 Giuseppe De Arcangelis2 minutesPreview module
Lesson 1.5.1 Accumulation Accounts in the SNA7 minutes
Lesson 1.5.2 The relative importance of factors affecting Net Worth8 minutes
Lesson 1.5.3 About stocks and flows across growth and cycles15 minutes
How to update a table going to the original source.2 minutes

13 readingsTotal 89 minutes

Contents of Week 5 - Accumulation5 minutes
You are ready for Topic 11 minute
Slides 1.5.1 Accumulation Accounts in the SNA10 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 21 minute
Slides 1.5.2 The relative importance of factors affecting Net Worth10 minutes
Table - 1.5.6 look further into the details10 minutes
You are ready for Topic 31 minute
Slides 1.5.3 About stocks and flows across growth and cycles10 minutes
SNA definitions: Net lending net borrowing redefined; nominal vs. real holding gains10 minutes
Reference Reading1 minute
"Selected Questions sent to the OECD National Statistics Department...and Answers" by Isabelle Ynesta, OECD".10 minutes

4 assignmentsTotal 60 minutes

1.5.1 Accumulation Accounts at a glance 15 minutes
1.5.2 a summary of concepts and sequences15 minutes
1.5.3 Changes in net worth15 minutes
Quiz 1.5.4 – Stocks and flows15 minutes

1 peer reviewTotal 60 minutes

Changes in valuations60 minutes

1.6 Financial Accounts, Economic and Monetary Policy, Stability

What's included

7 videos17 readings3 assignments

7 videosTotal 86 minutes

1.6 Introduction to the topics of week 6 - Giuseppe De Arcangelis2 minutesPreview module
Lesson 1.6.1. Macro-financial tools for evaluating stability18 minutes
Lesson 1.6.2. Past and present: from the 2007-2009 crisis to Covid-1911 minutes
Lesson 1.6.3. The main available reports and documents.6 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) 13 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) 14 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) 18 minutes

17 readingsTotal 116 minutes

CONTENTS of WEEK 6 - Financial Accounts, Economic and Monetary Policy, Stability5 minutes
You are ready for Topic 11 minute
Slides 1.6.1 Macro-financial tools for evaluating stability15 minutes
You are ready for Topic 21 minute
Slides 1.6.2. Past and present: from the 2007-2009 crisis to Covid-1910 minutes
You are ready for Topic 31 minute
Slides 1.6.3. The main available reports and documents 10 minutes
Correspondence table between US flow of funds and SNA Financial accounts10 minutes
Reference Reading1 minute
"Selected Questions sent to the OECD National Statistics Department...and Answers" by Isabelle Ynesta, OECD".10 minutes
Daniele Fano and Bruno Tissot Part 10 minutes
Podcast audio Part 113 minutes
Daniele Fano and Bruno Tissot Part 21 minute
Podcast audio Part 214 minutes
Daniele Fano and Bruno Tissot Part 31 minute
Podcast audio Part 318 minutes
Multiple-choice quiz5 minutes

3 assignmentsTotal 120 minutes

Quiz 1.6.1 – The Operational Deficit15 minutes
Quiz 1.6.2 - Stability and sustainability15 minutes
Final test90 minutes

Instructors

Instructor ratings

3.9 (7 ratings)

Giuseppe De Arcangelis

Sapienza University of Rome

2 Courses3,394 learners

Daniele Fano

Sapienza University of Rome

2 Courses3,394 learners

Offered by

Sapienza University of Rome

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4.4

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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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macrofinac.sapienza@uniroma1.it

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