Global Macroeconomic Challenges

Introduction

Navigating unprecedented complexity and uncertainty

The COVID-19 pandemic has laid bare the vulnerabilities, interconnectedness and sheer complexity of our global economy. Successfully navigating the uncertainties of the post-COVID-19 world will require deep understanding of the risks, the impact of monetary and fiscal policies, the international monetary system and theories that underpin it, as well as the role and the fragilities of the key players on the global stage. This transformative programmes leverages the full expertise of LSE faculty and distinguished visiting speakers to ground you in the events and debates that are reshaping our world economy; and to empower you with the knowledge and insights to make sense of the road that lies ahead

Objectives

Explore the most recent economic theories to interpret current events accurately. Understand the implications of dollar dominance, and the potential roles of the euro, the renminbi, and cryptocurrencies as international media of exchange.

Discover how debt can be paid for, how to explain the low interest rates on debt, and what trade-offs policymakers face in the context of the run up of debt during the pandemic.

Examine US macroeconomics and policy in the geopolitical context of global supply chain risk and political tensions.

Develop an understanding of cyber risk and strategy.

Gain a greater understanding of the financial and banking landscape, including the rise of fintech and digital currencies.

Achieve an understanding of the economic linkages between current macroeconomic events.

Accelerate your organisation s internal understanding of the hugely complex forces, interconnectedness, policies and key players that are reshaping the current economic climate and the post-COVID-19 global outlook.

Arm your key decision-makers with the knowledge, insights, frameworks and tools to make choices that will benefit your organisation in the longer term.

Enjoy privileged access to the expertise, insights and latest research of LSE faculty and global experts from the worlds of academia and scholarship, banking and consultancy.

Leverage the benefit of diverse, international perspectives from a talented cohort of senior executives and leaders across a wide range of responsibilities, sectors and geographies.

WHO SHOULD ATTEND ?

This programme is designed for leaders and executives who have prior basic understanding of macroeconomics.

Participants include:

Practitioners in financial markets

Economic analysts

Portfolio managers interested in global macroeconomic issues

Policymakers

Financial strategists

Course Outline

Day 1

The COVID-19 crisis

Differences with the Global Financial Crisis of 2008-2009.

Day 2

China on the post-COVID-19 world stage

The pandemic and its implications for the Chinese economy and its international relations with the rest of the world.

Day 3

What the crisis has revealed about Europe

The structure of the European Monetary Union and its fragility

The European Union fiscal framework and its evolution: what is left after the COVID-19 shock?

Day 4 www.lpcentre.com

Monetary policies, sovereign debt and a looming recession?

The sovereign debt crisis and the recent COVID-19 crisis: a comparison between the two crises and an analysis of the tools available to deal with both.

Policy responses under COVID-19 by monetary and fiscal authorities with a discussion of modern monetary theory (MMT).

The macroeconomic and geopolitical implications of the COVID-19-induced recession along with the potential risk of deflation or stagflation.

Day 5 Supply chains: disruption and future trends

The impact of COVID-19 on the ongoing balkanisation of global supply chains and the ongoing technological disputes between US and China, with repercussions for cyber-risk and strategy.

Risks to advanced and emerging economies

Emerging market vulnerabilities in the COVID-19 environment, the problem of dollar-funding and the global role of the Fed. Are advanced economies trapped in world of low growth and low interest rates?