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Macroeconomic Challenges of Global Imbalances

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An insightful and up-to-date LSE short course that addresses the challenges presented by current economic events and the evolution of global financial markets.

Register here for a detailed course outline.

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This executive course will guide you in examining the key events and current policy debates that are shaping the world economy. It is designed to provide you with the analytical tools required to understand the logic and implications of policy choices.

This executive course is suitable for:

  •  Practitioners in financial markets
  •  Economic analysts
  •  Portfolio managers interested in global macroeconomic issues
  •  Policymakers
  •  Financial strategists

Programme benefits:

  •  Gain a grasp on the up-to-date economic theories that interpret current events
  •  Discover whether global imbalances are sustainable and what the implications are for the US dollar and foreign exchange markets
  •  Build your awareness of the perils of international financial integration and understand the potential risks ahead for emerging marketing economies
  •  Realise how the current financial crisis has affected the conduct of monetary and fiscal policies
  •  Achieve an understanding of the economic linkages among current macroeconomic events
  •  Increase the depth of your knowledge around the question of whether large deficits lead to sovereign defaults
  •  Understand what determines the risk of sovereign debt and the perceived likelihood of default
  •  Gain a greater understanding of China’s role in the global economy, and the impact of Chinese policies on the rest of the world
  •  Take away learning’s from in-depth debate on whether China’s exchange rate policy is prone to bubble-creation, and if the country’s current experience holds similarities with the Japanese experience.

"I enjoyed the atmosphere created and intensity of the course. Topics were fully explained, from basic principles to more sophisticated models."

Financial Advisor, Renaissance Capital, Russia

Guest speaker announced: Lorenzo Codogno, visiting professor in practice at the London School of Economics and Political Science, European Institute, and founder and chief economist of his own consulting vehicle, LC Macro Advisors Ltd.

He was chief economist of the Italian Treasury, in charge of the economic analysis and planning directorate, and held responsibility for macroeconomic forecasts, analysis on the Italian/international economy and domestic/international monetary and financial issues. He coordinated the technical preparation of Italy’s official economic and financial planning documents. He was president of the Economic Policy Committee of the European Union from January 2010 to December 2011 and head of the Italian delegation since 2006.

As chairman of EPC, he attended Ecofin/Eurogroup meetings. At the OECD, he headed the Italian delegation at the Economic Policy Committee, the Economic and Development Review Committee and the Working Party 1, which he chaired from Jan 2013 to Feb 2015. Codogno joined the Ministry in April 2006 from Bank of America where he had worked over the previous 11 years.

He was managing director, senior economist and co-head of European Economics based in London. Before that he worked in the research department of Unicredit. He studied at the University of Padua in Italy and has a Master Degree from Syracuse University, New York.


 

 

 

 

 

 

Current economic events and policy choices along with the evolution of global financial markets present new challenges for investment and strategic decisions. The objective of this course is to examine the relevant policy debates and to provide the analytical tools to understand the logic and the implications of these policy choices.

The course will offer a mix of lectures, student-led discussions involving LSE faculty and high profile external speakers.

This course will investigate the following key topics.

  • Imbalances: a global and a European perspective
  • China and its Macroeconomic Implications on the Global Economy
  • Issues in a Monetary Union: the Euro area case
  • The Perils of International Financial Integration
  • Policy issues: Zero Lower bound and Policy options

We will address some of the following issues: Are global imbalances sustainable and what are the implications for the US dollar and foreign exchange markets? What is the origin and the implication of imbalances within the Euro area? How has the current financial crisis affected the conduct of monetary and fiscal policies? How should we conduct monetary policy when interest rates have reached the zero lower bound? Do large deficits lead to sovereign defaults? What determines the risk of sovereign debt and the perceived likelihood of default? What is the role of China in the global economy and what is the impact of Chinese policies on the rest of the world? Is China’s exchange rate policy prone to bubble-creation? Are there similarities between current China’s experience and the Japanese’s one?

 


“The course gave me a totally refreshing, well informed understanding of present global economics, delivered in an enjoyable environment by professional, personable, LSE expert economists… an excellent course.”

Managing Director, Salamanca Capital, UK

"Course contents were very up to date, high level of practical tasks, good organisation, overall a great course."

Participant from De Nederlandsche Bank, Netherlands


Our previous client list includes:

  • Banca d’Italia
  • Bank of America
  • Bank of England
  • Bayer SAS
  • Boston Consulting Group
  • Carlsberg Group Company
  • Citibank
  • Confederation of Danish Industry
  • Credit Suisse
  • Deloitte
  • Dole Food Company
  • Dutch Ministry of Interior and Kingdom Relations
  • European Central Bank
  • Fidelity Investments
  • Google
  • JP Morgan Asset Management
  • Microsoft
  • Petroleo Brasileiro S.A.
  • Procter & Gamble
  • Qatar Financial Centre Authority
  • Salamanca Capital
  • Saudi Industrial Development Fund
  • Standard Life Investments
  • The New Zealand Treasury

 

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Course details:


Dates:  22 June - 26 June 2015

Format: Five day intensive executive programme

Location: LSE's Central London Campus, New Academic Building, WC2A 2AE

Teaching faculty:

Dr Gianluca Benigno|

Professor Paul De Grauwe|

Dr Keyu Jin|

(Guest speaker announced: Former chief economist of the Italian Treasury, Lorenzo Codogno)

Tuition fee:  £3,495 (includes all course materials)


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