Chartered Fintech Professional (CFtP) Level 1A Training Module 1: Economics
About This Course
At the end of the 2-day module, participants will be able to:
• Describe the demand/ supply curve and the Law of Demand/ Supply and price elasticity
• Calculate, interpret and compare cost, profit, and output
• Understand the role that blockchain can play in firm decision-making
• Understand the debate on the impact of Fintech on market structure
• Understand the impact of Fintech on the ability to analyse and assess anticompetitive behaviour within the financial services market
• Understand the application of Game Theory in Fintech
• Understand the implications of aggregate demand and aggregate supply equilibrium and describe how fluctuations in aggregate demand and supply cause short run changes in the economy and the business cycle
• Understand the drivers of economic growth
• Understand the need for financial markets and financial institutions (or intermediaries) and the services they provide
• Understand the financial system and its key functions
• Understand financial repression, how it is manifested, and its symptoms
• Understand the motivations for financial innovation and what financial innovation includes
• Understand the transformation driven by Fintech and the emerging new forms of financing and investments such as "inclusive finance", "socially responsible investment", and "impact investing", etc. driven by greater awareness of sustainable development goals
• Understand the functions of money, the international currency and monetary systems, money supply and money creation
• Explain the objectives of monetary policy and its use in practice and its implementation tools
• Understand the role of the central bank and the importance and vulnerabilities of the financial sector
• Understand the concept and design of central bank digital currency and its associated benefits and risks
What You'll Learn
There are 3 sections in this module: Microeconomics, Macroeconomics and Macro-Finance. The module will start with Section 1 on Microeconomic which covers concepts of Supply and Demand, Price Elasticity, Decision Making of firms and elements of Game Theory. Section 2 introduces Macroeconomics and the various aggregate economic output measures, including Real and Nominal Gross Domestic Product (GDP), National Income, Personal Income, and Personal Disposable Income. Essential concepts covered include Aggregate Demand and short-run and long-run Aggregate Supply. The course will also discuss the causes of a shift in aggregate demand and aggregate supply and long-run economic growth sources. Finally in Section 3 on Macro-Finance, participants will learn key concepts in Financial Intermediation, Repression and Liberalisation, Central Banking and Monetary Policy. This module will conclude with a short discussion on the Basel Accord, a key element of Financial Supervision.
Entry Requirements
No prerequisites, but participants are strongly encouraged to go through the assigned pre-reading materials and videos, especially if one does not have any prior learning or working knowledge in the subject matter of this Module.
If the participant intends to register for the Chartered Fintech Professional examination following the completion of this training course, do note that an undergraduate degree from a recognised university or equivalent professional qualification is a compulsory enrolment requirement.