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Financial Market Analysis (FMAx)

Online- Financial Market Analysis

This online course introduces participants to the fundamentals of financial analysis that are in the toolkit of policy makers. These tools are used to study the characteristics of various financial instruments and their pricing, analyze portfolios of assets, and to gain familiarity with the basics of risk management. Mastery is essential for participants who wish to participate in more advanced and policy-oriented IMF courses in financial or macrofinancial areas. The course covers, among other topics, the pricing of fixed-income securities and equity; the term structure of interest rates; portfolio allocation and diversification; and an introduction to risk management.

 

 

Topic : Financial Sector Issues

Target Audience

Officials in central banks, ministries of finance, and regulatory agencies who have experience with macroeconomics and are interested in building their expertise in finance.

 

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Qualifications

Participants are expected to have some familiarity with basic statistics and probability techniques. Basic Microsoft Excel skills are essential.
 

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Course Objectives

Upon completion of this course, participants should be able to:

  • Price a variety of financial assets (fixed income securities and equities) using the present value (PV) principle.
  • Measure and compare different yield measures for financial assets.
  • Construct and estimate a yield curve on the basis of readily available information and use several theories to interpret its behavior.
  • Relate differences in the valuation of single equities or markets to economic fundamentals. 
  • Apply principles of diversification to historical return data to construct an optimal portfolio of risky assets and assess likely changes in its composition as macroeconomic conditions change.
  • Assess the market risk of an investment by calculating its value at risk (VaR), stressed VaR, and expected shortfall, and apply back-testing to evaluate the accuracy of past VaR.
     
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Upcoming Offering

Start dateEnd dateLocationDelivery MethodSession No.Primary & (Interpretation) languageApply
May 1, 2025April 15, 2026Course conducted onlineOnline TrainingOL 25.154EnglishApply online by April 1, 2026
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Videos

FMAx Promotional Video

Presented by the IMF Institute for Capacity Development, this course introduces participants to the fundamentals of financial analysis that are in the toolkit of policymakers. These tools are used to study the characteristics of various financial instruments and their pricing analyze portfolios of assets and become familiar with the basics of risk management.

Speaker: Adolfo Barajas
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