Interest rates, inflation, employment data, and economic cycles.
This scope is designed to help you build a practical understanding of Macroeconomics. Lessons move from core definitions to real-world context and common failure points.
Reading in order is recommended, but each lesson stands on its own.
A rigorous explanation of how macroeconomic data influences asset prices, why it matters for intrinsic value, and how analysts connect data releases to discount rates, cash flows, and risk premia across markets and time horizons. Includes real-world context and practical examples without trading recommendations.
An academically grounded explanation of how cross-border economic linkages transmit growth, inflation, policy, and risk across countries, and how those linkages shape cash flows and discount rates in fundamental valuation across asset classes and sectors.
A clear explanation of lagging and leading macroeconomic indicators, how their timing relates to business cycles, and how fundamental analysts use them to inform long-term assessments of intrinsic value without relying on trading signals or technical tools.
Macro regime changes are persistent shifts in the economic environment that alter the relationships among growth, inflation, policy, and risk premia. Understanding regimes helps analysts connect macro conditions to long-term cash flows and discount rates, improving the assessment of intrinsic value across asset classes.
A rigorous overview of why macroeconomic forecasts face structural limits, how those limits influence fundamental analysis, and how recognizing uncertainty improves the interpretation of valuations and risk. Emphasis is placed on model uncertainty, data revisions, regime shifts, and the propagation of forecast errors into cash flows and discount ra…
