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Macroeconomic Financial Accounts

Sapienza University of Rome

About this Course

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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.

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Intermediate Level

Participants should have basic notions of statistics and of economics . No mathematical requirements are needed.

Approx. 28 hours to complete

English

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Flexible deadlines

Reset deadlines in accordance to your schedule.

Shareable Certificate

Earn a Certificate upon completion

100% online

Start instantly and learn at your own schedule.

Coursera Labs

Includes hands on learning projects.

Learn more about Coursera Labs

Intermediate Level

Participants should have basic notions of statistics and of economics . No mathematical requirements are needed.

Approx. 28 hours to complete

English

Could your company benefit from training employees on in-demand skills?

Try Coursera for Business

Instructors

Instructor rating

4.2/5 (5 Ratings)

Giuseppe De Arcangelis

Professor of International Economics

Department of Social Sciences and Economics

1,684 Learners

1 Course

Daniele Fano

Economist, co-author, Understanding Financial Accounts, Oecd

Social Sciences and Economics

1,684 Learners

1 Course

Offered by

Sapienza University of Rome

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. The main campus, designed by Marcello Piacentini, was opened in 1935. It is situated close to the city centre, and is the largest in Europe - a real city within a city where teaching activities are integrated with libraries and museums as well as comprehensive student services. Faculties and Departments also carry out their activities in decentralized locations in different parts of the city. There are two other university campuses elsewhere in Lazio. Sapienza offers a vast array of courses including degree programmes, PhD courses, one to two year professional courses, and Specialization Schools in many disciplines, run by 63 Departments and 11 Faculties.

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Syllabus - What you will learn from this course

Week1

Week 1

5 hours to complete

Introduction to Course 1 on Macroeconomic Financial Accounts and Week 1 - Financial Systems at a Glance

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.

5 hours to complete

11 videos (Total 71 min), 16 readings, 6 quizzes

11 videos

Introduction Sofia Poggi2mIntroduction Francesco Ruggeri25sContents of Course 1 - Giuseppe De Arcangelis2mIntroduction to the Course - Daniele Fano54s1.1 Introduction to the topics of week 1- Giuseppe De Arcangelis2mIntroduction to week 1- Daniele Fano4mLesson 1.1.1 Financial Transactions the end of one story, the beginning of another one.12mLesson 1.1.2 The Identity relating net lending/net borrowing across the five institutional sectors7mLesson 1.1.3 Heuristic Aspects of the balancing logic and the current account balance as a proxy7mHow to select and download data from the OECD website8mPodcast: Peter van de Ven (Head of National Accounts, OECD)22m

16 readings

Contents of Week 1 - Figures at a Glance5mWelcome1mIntroduction - Slides10mTable 1.1.1 Figures at a Glance5mYou are ready for Topic 11mSlides 1.1.1 Financial Transactions: the end of one story, the beginning of another one.10mYou are ready for Topic 21mSlides 1.1.2 The Identity relating net lending/net borrowing across the five institutional sectors10mTable 1.1.2 b net lending/net borrowing across sectors10mYou are ready for Topic 3 1mSlides 1.1.3 Heuristic Aspects of the balancing logic and the current account balance as a proxy10mTable 1.1.1 Figures at a Glance10mSNA definitions: Institutional Sectors15mReference ReadingDaniele Fano and Peter van de Ven1mPodcast audio Peter van de Ven (Head of National Accounts, OECD)22m

5 practice exercises

1.1.1 Figures at a Glance15m1.1.2 - Net lenders and net borrowers 15m1.1.3 The "private sector" as a proxy10m1.1.4 - Private Sector Lending/Borrowing (as % of GDP)15m1.1.5 - Exercise your algebra with table 1.1.115m

Week2

Week 2

5 hours to complete

Week 2 - Deriving net lending/net borrowing : national economy vs. rest of the world, balancing items, sectoral breakdowns

5 hours to complete

6 videos (Total 58 min), 16 readings, 6 quizzes

6 videos

1.2 Introduction to the topics of week 2 - Giuseppe De Arcangelis1mLesson 1.2.1 Insights from a national economy vs rest of the world framework9mLesson 1.2.2 - The sequence of accounts, the rest of the world and the balance of payments6mLesson 1.2.3 From the balancing items to the institutional sectors breakdowns.12mHow to select and download data from the IMF website and from the Eurostat website 9mPodcast Henning Ahnert (Head of the Financial Accounts and Fiscal Statistics section at ECB) 18m

16 readings

Contents of Week 2 - Deriving net lending/net borrowing : national economy vs. rest of the world, balancing items, sectoral breakdowns5mYou are ready for Topic 11mSlides 1.2.1 Insights from a national economy vs rest of the world framework10mTable 1.2.1 The goods and services account10mTables 1.2.1 b and 1.2.1 c Value Added (GDP) appears10mYou are ready for Topic 21mSlides 1.2.2 The Sequence of Accounts, the Rest of the World and the Balance of Payments10mTable 1.2.2 Simplified view of the sequence of current and capital accounts10mYou are ready for Topic 3Slides 1.2.3 From the balancing items to the institutional sector breakdowns10mTables 1.2.5 - European countries in 201810mUSA 1952-2011- Chart10mSNA definitions: Transactions, accounting identities, netting and consolidating10mReference ReadingGiuseppe De Arcangelis and Henning Ahnert Part 15mPodcast audio Henning Ahnert (Head of the Financial Accounts and Fiscal Statistics section at ECB) Part 1 18m

5 practice exercises

1.2.1 The goods and services account15m1.2.2 Value Added (GDP) appears15m1.2.3 - balance of payments current and capital account items15m1.2.4 - European countries in 201815m1.2.5 - USA 1952-2011-10m

Week3

Week 3

5 hours to complete

Week 3 - Financial Transactions. Instruments and interconnections

5 hours to complete

9 videos (Total 61 min), 15 readings, 5 quizzes

9 videos

1.3 Introduction to the topics of week 3 - Giuseppe De Arcangelis1mLesson 1.3.1. The logic of the Financial Account and its informational content7mLesson 1.3.2. "From whom to whom"?6mLesson 1.3.3. Risk, securitization and institutionalization15mDiscrepancies between the Capital Account and the Financial Account5mTutorial 3.1 Financial Instruments 3mTutorial 3.2 The FED documentation1mTutorial 3.3 Shakespeare in Finance29sPodcast Henning Ahnert (Head of the Financial Accounts and Fiscal Statistics section at ECB) Part 220m

15 readings

Contents of Week 3 - Financial Transactions. Instruments and interconnections5mYou are ready for Topic 11mSlides 1.3.1. The logic of the Financial Account and its informational content10mTable 1.3.110mTable 1.3.2- An example - this is our "worksheet"!10mYou are ready for Topic 2Slides 1.3.2. "From whom to whom"?10mTable 1.3.3-From whom to whom transactions10mTable 1.3.4. Canada - Who are the creditors of Provincial and territorial governments ?10mYou are ready for Topic 31mSlides 1.3.3 Risk, securitization and institutionalization10mSlides - Discrepancies between the Capital Account and the Financial Account10mReference Reading10mGiuseppe De Arcangelis and Henning Ahnert Part 25mPodcast audio Henning Ahnert (Head of the Financial Accounts and Fiscal Statistics section at ECB) Part 2 20m

4 practice exercises

1.3.1-Terminology10mQuiz 1.3.2 Financial Accounts USA 201915mQuiz 1.3.3 Equities From whom to whom Euro area Q1 202015mQuiz 1.3.4 - From whom to whom Statistics Canada15m

Week4

Week 4

4 hours to complete

Week 4 - Stocks. Net Worth. Financial Wealth

4 hours to complete

6 videos (Total 39 min), 11 readings, 3 quizzes

6 videos

1.4 Introduction to the topics of week 4 - Giuseppe De Arcangelis1mLesson 1.4.1. The Balance Sheet and its logic10mLesson 1.4.2. Highlights on the Institutional Sectors and Financial Net Worth10mLesson 1.4.3.Considerations on Households' Wealth10mUsing the OECD website for analyzing figures about levels : Financial Net Worth, International Investment Position3mUsing the IMF website for analyzing figures about levels : Financial Net Worth, International Investment Position2m

11 readings

Contents of Week 4 - Stocks. Net Worth. Financial Wealth5mYou are ready for Topic 11mSlides 1.4.1. The Balance Sheet and its logic 10mYou are ready for Topic 21mSlides 1.4.2. Highlights on the Institutional Sectors and Financial Net Worth10mTable 1.4.2 Financial Net Worth across Sectors10mTables Financial Net Worth The case of Australia Germany and Italy10mYou are ready for Topic 3Slides 1.4..3 Considerations on Households' Wealth10mSNA definitions: Quadruple accounting10mReference Reading10m

2 practice exercises

Quiz 1.4.1- Financial Net Worth Across Sectors European Countries 15mQuiz 1.4.2- Australia, Italy, Germany Net worth and its components20m

Week5

Week 5

4 hours to complete

Week 5 - Accumulation

4 hours to complete

5 videos (Total 36 min), 13 readings, 5 quizzes

5 videos

1.5 Introduction to the topics of week 5 Giuseppe De Arcangelis2mLesson 1.5.1 Accumulation Accounts in the SNA7mLesson 1.5.2 The relative importance of factors affecting Net Worth8mLesson 1.5.3 About stocks and flows across growth and cycles15mHow to update a table going to the original source.2m

13 readings

Contents of Week 5 - Accumulation5mYou are ready for Topic 11mSlides 1.5.1 Accumulation Accounts in the SNA10mTable 1.5.1 - The accumulation accounts at a glance...10mTable - 1.5.2 a summary of concepts and sequences 10mYou are ready for Topic 21mSlides 1.5.2 The relative importance of factors affecting Net Worth10mTable - 1.5.6 look further into the details10mYou are ready for Topic 31mSlides 1.5.3 About stocks and flows across growth and cycles10mSNA definitions: Net lending net borrowing redefined; nominal vs. real holding gains10mReference Reading1m"Selected Questions sent to the OECD National Statistics Department...and Answers" by Isabelle Ynesta, OECD".10m

4 practice exercises

1.5.1 Accumulation Accounts at a glance 15m1.5.2 a summary of concepts and sequences15m 1.5.3 Changes in net worth15mQuiz 1.5.4 – Stocks and flows15m

Week6

Week 6

5 hours to complete

Week 6 - Financial Accounts, Economic and Monetary Policy, Stability

5 hours to complete

7 videos (Total 86 min), 17 readings, 3 quizzes

7 videos

1.6 Introduction to the topics of week 6 - Giuseppe De Arcangelis2mLesson 1.6.1. Macro-financial tools for evaluating stability18mLesson 1.6.2. Past and present: from the 2007-2009 crisis to Covid-1911mLesson 1.6.3. The main available reports and documents.6mPodcast 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) 13mPodcast 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) 14mPodcast 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) 18m

17 readings

CONTENTS of WEEK 6 - Financial Accounts, Economic and Monetary Policy, Stability5mYou are ready for Topic 11mSlides 1.6.1 Macro-financial tools for evaluating stability15mYou are ready for Topic 21mSlides 1.6.2. Past and present: from the 2007-2009 crisis to Covid-1910mYou are ready for Topic 31mSlides 1.6.3. The main available reports and documents 10mCorrespondence table between US flow of funds and SNA Financial accounts10mReference Reading1m"Selected Questions sent to the OECD National Statistics Department...and Answers" by Isabelle Ynesta, OECD".10mDaniele Fano and Bruno Tissot Part 1Podcast audio Part 113mDaniele Fano and Bruno Tissot Part 21mPodcast audio Part 214mDaniele Fano and Bruno Tissot Part 31mPodcast audio Part 318mMultiple-choice quiz5m

3 practice exercises

Quiz 1.6.1 – The Operational Deficit15mQuiz 1.6.2 - Stability and sustainability15mFinal test1h 30m

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Course email
macrofinac.sapienza@uniroma1.it

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Macroeconomic Financial Accounts

Macroeconomic Financial Accounts

About this Course