Accueil > Macrostrategy

KBAM 2080 - Macrostrategy and investment strategy in Private Banking

Type d'enseignement : Seminar

Semester : Spring 2017-2018

Number of hours : 12

Language of tuition : English

Pre-requisite

aucun

Course Description

The Macrostrategy course will help students to familiarise themselves with the interactions between macroeconomics, financial markets and asset allocation. This will be achieved through analysis of three “crisis” study cases: the late 1990s Tech Bubble, the Global Financial Crisis/Great Recession and the ongoing rebalancing in China. Each case will illustrate the source of the crisis, its macroeconomic consequences, the impact on various asset classes (equities, bonds ...) and finally how these elements can influence asset allocation decisions for diversified portfolios.

Teachers

  • BERTONE, Antonio (Strategist)
  • DENIS, Xavier (Head of Investment Strategy, Société Générale Private Banking)
  • FOURNIER, Sophie
  • MUDIE, Alan (.)

Pedagogical format

The first part of each case study will take the form of an interactive lecture to introduce the topic and the second will call on a group of students to present their research and conclusions on a related topic.

Course validation

The course grading is made of continuous assessment only based on a mixture of individual and group marks.

Workload

The workload will include preparatory study of the required reading, participation in each lecture, group discussion and collaboration to prepare the joint presentation and active contribution to the feedback/debrief sessions.

Required reading

  • BIS (2017), “Understanding globalisation”, BIS Annual report, https://www.bis.org/publ/arpdf/ar2017e6.htm
  • IMF (2016), “The growing importance of financial spillovers from emerging market economies”, chap. 2, Global Financial Stability Report, April 2016, http://www.imf.org/~/media/Websites/IMF/imported-flagship-issues/external/pubs/ft/GFSR/2016/01/pdf/_c2v3pdf.ashx
  • U.S. Department of the Treasury (Sept 2013) “The Financial crisis five Years later”, https://www.treasury.gov/connect/blog/Documents/FinancialCrisis5Yr_vFINAL.pdf
  • IMF (2000) “Asset prices and the business cycle” chap.3, World Economic Outlook May 2000, http://www.imf.org/external/pubs/ft/weo/2000/01/pdf/chapter3.pdf

Additional required reading

World Economic Forum (2016) “The Fourth Industrial Revolution: what it means, how to respond”, https://www.weforum.org/agenda/2016/01/the-fourth-industrial-revolution-what-it-means-and-how-to-respond/