UNDERSTAND THE IMPACT OF MACRO-ECONOMICS

LEARNING OBJECTIVES

Macro-economic trends and changes and geo-political situation have an impact on your company and its competitiveness. As a CFO you are assumed by others to be able to assess your financial and economic environment, analyse the impact it might have on your activity and be prepared financially for what could come ahead. This module will help you understand macroeconomic behaviours and trends, the direct and indirect dependence of your activity on them, and integrate these reasonings when making financial decisions over different time-horizons.

Your company does not operate in a vacuum. When you design your financial strategy, you must take into account the network in which your company operates: its sector, its country, and its relationship with other countries, when exporting and importing. But this is still a microeconomics view of the firm, where the environment has a given state at the time you take your decisions. In practice, you will experience international spillovers that will affect the very structure of the demand and offer of services and products, the financial conditions you bear and foreign exchange rate behaviours that affect you. Whilst we face an evolutive common body of rules from the European Union that revamps the conditions in which we operate, with less freedom from the member states, we bear the consequences of increased tensions on the geo-political scene. Although you might think that having a domestic activity and an enlarged domestic perimeter with the European Union is a hedge against any foreign exposure, this is not true from a network point of view.

In this module you will

• Learn the essential notions that will help you better understand the macroeconomic behaviours that impact your business

• Learn about the underlying structures and dependences between them, within the global financial system

• Understand international spillovers, their sources, determinants and consequences

• Be able to assess the exposure of your financial activity to that environment and the business cycle

• Better understand the relationships between the behaviour of macroeconomic data and the drivers of your business

• Develop a sensitivity to the long-term structural changes that might occur given changing paradigms on the international scene 

• Comprehend the determinants of interest rates and foreign exchange rates, two main exposures of any treasury activity, and how they might impact directly and indirectly the decision you make today for the sustainability of your business

• Better understand local and foreign trends, avoid media distortions and make your own judgment, position yourself against declining trends or take opportunities in booming trends

DAY 1 & 2

Taught by worldwide-praised senior experts Peter Praet and Jean-Pierre Vidal, the following themes will be covered over this two-day module:

 

Financial conditions & the business cycle

• The evolving landscape of financial conditions

• Interest rates and exchange rates: the impossible trinity, theories and parities, and their use in the corporate life

• Business cycles, inflation and deflation, and trade

 

Monetary policy

• Supply and demand of funds

• Money

• Macroeconomic equilibria

 

Financial stability

• The financial stability function of central banks

• The lessons learned from the past and the objective for the future

• Macroprudential analysis, policies/regulation and tools

 

International spillovers

This theme will combine the learning outcomes of the previous ones and, as a conclusion, examine the network effects of connected economies.

• Globalisation, synchronisation of inflation and output across countries.

• Monetary policy and its impact on the aggregate demand, the exchange rate competitiveness, and the financial conditions.

 

These themes will be presented within a true knowledge sharing experience, with illustrations, real-life examples and the experience of renowned practitioners who had to foster debates, support analysis and ultimately take difficult decisions in extreme circumstances, where the understanding of the ultimate consequences on businesses and the economic activity was a key challenge at all times.

ABOUT THE FACULTY

PETER PRAET

Peter Praet worked until very recently at the European Central Bank as Member of the Executive Board in 2011. Before joining the ECB, Peter Praet was Executive Director of the National Bank of Belgium, Member of the Management Committee of the CBFA, Chief of Cabinet for the Belgian Minister of Finance. 

JEAN-PIERRE VIDAL

Jean-Pierre Vidal had a career of twelve years at the ECB, after which he became Member of the Cabinet of Presistent Herman Van Rompuy and then Chief Economics Advisor for President Donald Tusk.  In 2016 he became Counselor to the Executive Board of the ECB. Since 2017, he is Member of the Council of Management of SUERF and  since 2019 he is also Head of Policy and Strategy Division at the European Investment Bank.

MORE INFO

HOW TO GET THE MOST OUT OF YOUR TRAINING

Combine this module with our training “How to become an independent board member as a CFO”. Check our website for more information.

Solvay Brussels School

Franklin Rooseveltlaan 42

1050 Brussels

 

The Solvay building is located in the green heart of Brussels, on the edge of the beautiful Ter Kameren forest and a 15-minute walk (or 5 minutes by public transport) from the bustling center of Brussels. If desired, there are numerous
accommodation options (hotels and (air) bnb) in the neighborhood and in the center of the city. Need help?  Do not hesitate to contact us.

1.650 euro, excl VAT

Other price formulas: 

  • You can choose to follow this module in the context of the EMF programme. If you complete all 15 modules in a period of 15 subsequent months, then you pay € 16.000. If you spread it over a period of 3 years, then you pay € 18.000. 

  • Five Module package: 7500 euro / 5x2 modules of your choice. 

  • In-company:  This training personalized as part of your in company: good idea! Call us. 

NEXT TRAINING DATES

MARCH 2021 11-12

 

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