Economics, Macro & Global Markets

  1. F1

    Economic Fundamentals

    The mechanism. Demand, supply, price and cost before any aggregate is named.

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      Topic 01

      Technical

      Topic 02

      Economic Recession: A Rule and a Judgement

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  2. F2

    GDP, Growth and Employment

    The first aggregate. What output is, how it is counted, and what work has to do with it.

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      Topic 01

      Employment Growth

      Topic 02

      Economic Growth: Two Counts

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      Topic 01

      GDP

      Topic 02

      GVA: Why the Same Year Gives Two Growth Rates

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  3. F4

    Business Cycles

    The pattern the aggregates make over time, and where an economy sits in it.

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      Topic 01

      Expansion

      Topic 02

      Recession: Why the Two Are Not Mirror Images

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  4. F5

    Monetary Policy

    The first lever. Who sets rates, against what mandate, and how the change travels.

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      Topic 01

      Hawkish

      Topic 02

      Dovish Monetary Policy: Reading a Stance

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      Topic 01

      Monetary Policy

      Topic 02

      Fiscal Policy: Speed, Aim and Who Decides

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  5. F7

    Fiscal Policy

    The second lever. What a government spends, taxes and borrows, and the deficit that results.

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      Topic 01

      Direct Tax

      Topic 02

      Indirect Tax: Collected From and Paid By

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  6. F9

    Currency and External Sector

    The external account. What crosses the border, and the rate that prices it.

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      Topic 01

      Currency Appreciation

      Topic 02

      Depreciation: One Move, Two Numbers

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  7. F10

    Commodities and Energy

    The input side. Why commodity supply responds slowly and what a shock does.

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      Topic 01

      Brent

      Topic 02

      WTI Crude Oil: What a Benchmark Actually Is

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  8. F11

    Macro Data Records

    How a release is read. Revisions, base effects, surprises and the calendar.

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      Topic 01

      PMI

      Topic 02

      IIP: Why Breadth and Volume Can Disagree

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