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Macroeconomic Financial Accounts
  • Level Professional
  • Duration 28 hours
  • Course by Sapienza University of Rome
  • Offered by

About

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.

Modules

Introduction to the Course

    • 4 Videos
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4 Videos

  • Introduction Sofia Poggi
  • Introduction Francesco Ruggeri
  • Contents of Course 1 - Giuseppe De Arcangelis
  • Introduction to the Course - Daniele Fano

Contents of Week 1

    • 1 Readings
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1 Readings

  • Contents of Week 1 - Figures at a Glance

Introduction to Week 1

    • 2 Videos
    • 3 Readings
    • 1 Assignment
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1 Assignment

  • 1.1.1 Figures at a Glance

2 Videos

  • 1.1 Introduction to the topics of week 1- Giuseppe De Arcangelis
  • Introduction to week 1- Daniele Fano

3 Readings

  • Welcome
  • Introduction - Slides
  • Table 1.1.1 Figures at a Glance

Topic 1 Week 1

    • 1 Videos
    • 2 Readings
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1 Videos

  • Lesson 1.1.1 Financial Transactions the end of one story, the beginning of another one.

2 Readings

  • You are ready for Topic 1
  • Slides 1.1.1 Financial Transactions: the end of one story, the beginning of another one.

Topic 2 Week 1

    • 1 Videos
    • 3 Readings
    • 1 Assignment
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1 Assignment

  • 1.1.2 - Net lenders and net borrowers

1 Videos

  • Lesson 1.1.2 The Identity relating net lending/net borrowing across the five institutional sectors

3 Readings

  • You are ready for Topic 2
  • Slides 1.1.2 The Identity relating net lending/net borrowing across the five institutional sectors
  • Table 1.1.2 b net lending/net borrowing across sectors

Topic 3 Week1

    • 1 Videos
    • 3 Readings
    • 3 Assignment
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3 Assignment

  • 1.1.3 The "private sector" as a proxy
  • 1.1.4 - Private Sector Lending/Borrowing (as % of GDP)
  • 1.1.5 - Exercise your algebra with table 1.1.1

1 Videos

  • Lesson 1.1.3 Heuristic Aspects of the balancing logic and the current account balance as a proxy

3 Readings

  • You are ready for Topic 3
  • Slides 1.1.3 Heuristic Aspects of the balancing logic and the current account balance as a proxy
  • Table 1.1.1 Figures at a Glance

Appendix 1.1

    • 1 Readings
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1 Readings

  • SNA definitions: Institutional Sectors

Optional Recommended Reading 1.1

    • 1 Readings
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1 Readings

  • Reference Reading

Tutorial 1

    • 1 Videos
    • 1 PeerReview
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1 Peer Review

  • Using the OECD as a Data Source

1 Videos

  • How to select and download data from the OECD website

Podcast

    • 1 Videos
    • 2 Readings
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1 Videos

  • Podcast: Peter van de Ven (Head of National Accounts, OECD)

2 Readings

  • Daniele Fano and Peter van de Ven
  • Podcast audio Peter van de Ven (Head of National Accounts, OECD)

Contents of Week 2

    • 1 Readings
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1 Readings

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

Introduction Week 2

    • 1 Videos
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1 Videos

  • 1.2 Introduction to the topics of week 2 - Giuseppe De Arcangelis

Topic 1 Week 2

    • 1 Videos
    • 4 Readings
    • 2 Assignment
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2 Assignment

  • 1.2.1 The goods and services account
  • 1.2.2 Value Added (GDP) appears

1 Videos

  • Lesson 1.2.1 Insights from a national economy vs rest of the world framework

4 Readings

  • You are ready for Topic 1
  • Slides 1.2.1 Insights from a national economy vs rest of the world framework
  • Table 1.2.1 The goods and services account
  • Tables 1.2.1 b and 1.2.1 c Value Added (GDP) appears

Topic 2 Week 2

    • 1 Videos
    • 3 Readings
    • 1 Assignment
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1 Assignment

  • 1.2.3 - balance of payments current and capital account items

1 Videos

  • Lesson 1.2.2 - The sequence of accounts, the rest of the world and the balance of payments

3 Readings

  • You are ready for Topic 2
  • Slides 1.2.2 The Sequence of Accounts, the Rest of the World and the Balance of Payments
  • Table 1.2.2 Simplified view of the sequence of current and capital accounts

Topic 3 Week 2

    • 1 Videos
    • 4 Readings
    • 2 Assignment
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2 Assignment

  • 1.2.4 - European countries in 2018
  • 1.2.5 - USA 1952-2011-

1 Videos

  • Lesson 1.2.3 From the balancing items to the institutional sectors breakdowns.

4 Readings

  • You are ready for Topic 3
  • Slides 1.2.3 From the balancing items to the institutional sector breakdowns
  • Tables 1.2.5 - European countries in 2018
  • USA 1952-2011- Chart

Appendix 1.2

    • 1 Readings
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1 Readings

  • SNA definitions: Transactions, accounting identities, netting and consolidating

Optional Recommended Reading 1.2

    • 1 Readings
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1 Readings

  • Reference Reading

Tutorial 2

    • 1 Videos
    • 1 PeerReview
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1 Peer Review

  • IMF and Eurostat website

1 Videos

  • How to select and download data from the IMF website and from the Eurostat website

Podcast

    • 1 Videos
    • 2 Readings
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1 Videos

  • Podcast Henning Ahnert (Head of the Financial Accounts and Fiscal Statistics section at ECB)

2 Readings

  • Giuseppe De Arcangelis and Henning Ahnert Part 1
  • Podcast audio Henning Ahnert (Head of the Financial Accounts and Fiscal Statistics section at ECB) Part 1

Contents of Week 3

    • 1 Readings
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1 Readings

  • Contents of Week 3 - Financial Transactions. Instruments and interconnections

Introduction Week 3

    • 1 Videos
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1 Videos

  • 1.3 Introduction to the topics of week 3 - Giuseppe De Arcangelis

Topic 1 Week 3

    • 1 Videos
    • 4 Readings
    • 2 Assignment
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2 Assignment

  • 1.3.1-Terminology
  • Quiz 1.3.2 Financial Accounts USA 2019

1 Videos

  • Lesson 1.3.1. The logic of the Financial Account and its informational content

4 Readings

  • You are ready for Topic 1
  • Slides 1.3.1. The logic of the Financial Account and its informational content
  • Table 1.3.1
  • Table 1.3.2- An example - this is our "worksheet"!

Topic 2 Week 3

    • 1 Videos
    • 4 Readings
    • 2 Assignment
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2 Assignment

  • Quiz 1.3.3 Equities From whom to whom Euro area Q1 2020
  • Quiz 1.3.4 - From whom to whom Statistics Canada

1 Videos

  • Lesson 1.3.2. "From whom to whom"?

4 Readings

  • You are ready for Topic 2
  • Slides 1.3.2. "From whom to whom"?
  • Table 1.3.3-From whom to whom transactions
  • Table 1.3.4. Canada - Who are the creditors of Provincial and territorial governments ?

Topic 3 Week 3

    • 1 Videos
    • 2 Readings
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1 Videos

  • Lesson 1.3.3. Risk, securitization and institutionalization

2 Readings

  • You are ready for Topic 3
  • Slides 1.3.3 Risk, securitization and institutionalization

Appendix 1.3

    • 1 Videos
    • 1 Readings
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1 Videos

  • Discrepancies between the Capital Account and the Financial Account

1 Readings

  • Slides - Discrepancies between the Capital Account and the Financial Account

Optional Recommended Reading 1.3

    • 1 Readings
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1 Readings

  • Reference Reading

Tutorial 3

    • 3 Videos
    • 1 PeerReview
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1 Peer Review

  • Financial Instruments

3 Videos

  • Tutorial 3.1 Financial Instruments
  • Tutorial 3.2 The FED documentation
  • Tutorial 3.3 Shakespeare in Finance

Podcast

    • 1 Videos
    • 2 Readings
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1 Videos

  • Podcast Henning Ahnert (Head of the Financial Accounts and Fiscal Statistics section at ECB) Part 2

2 Readings

  • Giuseppe De Arcangelis and Henning Ahnert Part 2
  • Podcast audio Henning Ahnert (Head of the Financial Accounts and Fiscal Statistics section at ECB) Part 2

Contents of Week 4

    • 1 Readings
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1 Readings

  • Contents of Week 4 - Stocks. Net Worth. Financial Wealth

Introductiom Week 4

    • 1 Videos
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1 Videos

  • 1.4 Introduction to the topics of week 4 - Giuseppe De Arcangelis

Topic 1 Week 4

    • 1 Videos
    • 2 Readings
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1 Videos

  • Lesson 1.4.1. The Balance Sheet and its logic

2 Readings

  • You are ready for Topic 1
  • Slides 1.4.1. The Balance Sheet and its logic

Topic 2 Week 4

    • 1 Videos
    • 4 Readings
    • 2 Assignment
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2 Assignment

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

1 Videos

  • Lesson 1.4.2. Highlights on the Institutional Sectors and Financial Net Worth

4 Readings

  • You are ready for Topic 2
  • Slides 1.4.2. Highlights on the Institutional Sectors and Financial Net Worth
  • Table 1.4.2 Financial Net Worth across Sectors
  • Tables Financial Net Worth The case of Australia Germany and Italy

Topic 3 Week 4

    • 1 Videos
    • 2 Readings
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1 Videos

  • Lesson 1.4.3.Considerations on Households' Wealth

2 Readings

  • You are ready for Topic 3
  • Slides 1.4..3 Considerations on Households' Wealth

Appendix 1.4

    • 1 Readings
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1 Readings

  • SNA definitions: Quadruple accounting

Optional Recommended Reading 1.4

    • 1 Readings
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1 Readings

  • Reference Reading

Tutorial 4

    • 2 Videos
    • 1 PeerReview
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1 Peer Review

  • Financial Net Worth, IIP - From the IMF database

2 Videos

  • Using the OECD website for analyzing figures about levels : Financial Net Worth, International Investment Position
  • Using the IMF website for analyzing figures about levels : Financial Net Worth, International Investment Position

Contents of Week 5

    • 1 Readings
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1 Readings

  • Contents of Week 5 - Accumulation

Introduction

    • 1 Videos
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1 Videos

  • 1.5 Introduction to the topics of week 5 Giuseppe De Arcangelis

Topic 1 Week 5

    • 1 Videos
    • 4 Readings
    • 2 Assignment
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2 Assignment

  • 1.5.1 Accumulation Accounts at a glance
  • 1.5.2 a summary of concepts and sequences

1 Videos

  • Lesson 1.5.1 Accumulation Accounts in the SNA

4 Readings

  • You are ready for Topic 1
  • Slides 1.5.1 Accumulation Accounts in the SNA
  • Table 1.5.1 - The accumulation accounts at a glance...
  • Table - 1.5.2 a summary of concepts and sequences

Topic 2 Week 5

    • 1 Videos
    • 3 Readings
    • 1 Assignment
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1 Assignment

  • 1.5.3 Changes in net worth

1 Videos

  • Lesson 1.5.2 The relative importance of factors affecting Net Worth

3 Readings

  • You are ready for Topic 2
  • Slides 1.5.2 The relative importance of factors affecting Net Worth
  • Table - 1.5.6 look further into the details

Topic 3 Week 5

    • 1 Videos
    • 2 Readings
    • 1 Assignment
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1 Assignment

  • Quiz 1.5.4 – Stocks and flows

1 Videos

  • Lesson 1.5.3 About stocks and flows across growth and cycles

2 Readings

  • You are ready for Topic 3
  • Slides 1.5.3 About stocks and flows across growth and cycles

Appendix 1.5

    • 1 Readings
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1 Readings

  • SNA definitions: Net lending net borrowing redefined; nominal vs. real holding gains

Optional Recommended Reading 1.5

    • 1 Readings
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1 Readings

  • Reference Reading

Tutorial 5

    • 1 Videos
    • 1 PeerReview
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1 Peer Review

  • Changes in valuations

1 Videos

  • How to update a table going to the original source.

Questions sent to the OECD National Statistics Department Part 1

    • 1 Readings
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1 Readings

  • "Selected Questions sent to the OECD National Statistics Department...and Answers" by Isabelle Ynesta, OECD".

Contents of Week 6

    • 1 Readings
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1 Readings

  • CONTENTS of WEEK 6 - Financial Accounts, Economic and Monetary Policy, Stability

Introduction Week 6

    • 1 Videos
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1 Videos

  • 1.6 Introduction to the topics of week 6 - Giuseppe De Arcangelis

Topic 1 Week 6

    • 1 Videos
    • 2 Readings
    • 1 Assignment
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1 Assignment

  • Quiz 1.6.1 – The Operational Deficit

1 Videos

  • Lesson 1.6.1. Macro-financial tools for evaluating stability

2 Readings

  • You are ready for Topic 1
  • Slides 1.6.1 Macro-financial tools for evaluating stability

Topic 2 Week 6

    • 1 Videos
    • 2 Readings
    • 1 Assignment
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1 Assignment

  • Quiz 1.6.2 - Stability and sustainability

1 Videos

  • Lesson 1.6.2. Past and present: from the 2007-2009 crisis to Covid-19

2 Readings

  • You are ready for Topic 2
  • Slides 1.6.2. Past and present: from the 2007-2009 crisis to Covid-19

Topic 3 Week 6

    • 1 Videos
    • 2 Readings
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1 Videos

  • Lesson 1.6.3. The main available reports and documents.

2 Readings

  • You are ready for Topic 3
  • Slides 1.6.3. The main available reports and documents

Appendix 1.6

    • 1 Readings
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1 Readings

  • Correspondence table between US flow of funds and SNA Financial accounts

Optional Recommended Reading 1.6

    • 1 Readings
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1 Readings

  • Reference Reading

Questions sent to the OECD National Statistics Department Part 2

    • 1 Readings
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1 Readings

  • "Selected Questions sent to the OECD National Statistics Department...and Answers" by Isabelle Ynesta, OECD".

Podcasts

    • 3 Videos
    • 6 Readings
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3 Videos

  • 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)
  • 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)
  • 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)

6 Readings

  • Daniele Fano and Bruno Tissot Part 1
  • Podcast audio Part 1
  • Daniele Fano and Bruno Tissot Part 2
  • Podcast audio Part 2
  • Daniele Fano and Bruno Tissot Part 3
  • Podcast audio Part 3

Final Test (multiple-choice quiz)

    • 1 Readings
    • 1 Assignment
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1 Assignment

  • Final test

1 Readings

  • Multiple-choice quiz

Auto Summary

"Macroeconomic Financial Accounts" is a professional-level course designed for advanced undergraduates, university students, and professionals in financial and governmental sectors. Taught by Coursera, it provides a comprehensive guide to financial accounts, macroeconomic databanks, and data manipulation techniques over a duration of 1680 minutes. The course offers hands-on experience with data from major institutions like OECD and IMF, available through Starter and Professional subscriptions. Ideal for those in monetary economics and finance.

Giuseppe De Arcangelis
Instructors

Giuseppe De Arcangelis

Daniele Fano
Instructors

Daniele Fano