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Macro Analysis, with Elias Laurin Griepentrog

Where is the economy in its cycle, and what does that mean for every sector in the book? Five modules, from the business cycle to one call for the portfolio, made in collaboration with economist Elias Laurin Griepentrog.

Get access with the Sophron® Passport Students: €15 a year with AIC Premium Already in? Open the module portal

Included in the Sophron® Passport (€25 a year) and AIC Premium (€15 a year), with every other module. Not sold on its own.

5Modules
25Lessons with tests
154Glossary terms
1Certificate

What you learn

From the cycle to the portfolio

Five modules of written lessons with a test each, every module closing with an exercise on the economy as it stands.

  1. 01How the economy moves

    • The business cycle and its four phases
    • Credit, inventories, business investment and the consumer
    • Why stock prices have turned before the economy
    • Why a number moves markets only against the forecast

  2. 02The indicators and the tracker

    • Leading, coincident and lagging indicators
    • Purchasing managers' indices and the yield curve
    • Credit spreads, jobs, housing and the consumer
    • Building and filling the macro tracker

  3. 03Central banks, rates and inflation

    • How the Fed and the ECB set interest rates
    • Measuring inflation and what markets expect
    • Real interest rates and valuations
    • The dollar and oil

  4. 04Making the phase call

    • One call with a conviction level
    • Style bias by phase
    • Three worked cases: 2008, 2020 and 2022
    • Writing the phase call in five parts

  5. 05From the call to the portfolio

    • How each sector reacts to rates, oil, the dollar and credit spreads
    • Rating a desk’s macro overview
    • Testing the call against the shortlist
    • The Macro Report of the cycle
Elias Laurin Griepentrog, Senior Economist at Yardeni Research, on air
Five modules, 25 written lessons with tests, and a glossary of 154 terms.

The expert

Elias Laurin Griepentrog

Elias Laurin Griepentrog is a Senior Economist at Yardeni Research, where he co-writes its commentary on the US economy, the Federal Reserve and bond markets, and a Macroeconomic Analyst at Kraft Heinz in Amsterdam. The course was made in collaboration with him.

For the Macro Analyst on the Analyst Program it is the seat course, required from the Winter cycle on and taken meeting by meeting on the Journey; everyone else can take it on its own, in order.

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The certificate

The Sophron® Certificate in Macro Analysis

The Sophron® Certificate in Macro Analysis, with the holder's name, date and credential ID The Macro Analysis certificate badge
The certificate, with a public verification linkThe badge on your Sophron® profile

Finish the course and hand in its phase call, and the Sophron® team signs off your certificate, with a public verification link and a badge on your profile.

  1. Finish every lesson and pass its test.
  2. Write the US phase call of exercise 4.5 in its five parts, at most one page, built from your own macro tracker, with the filled tracker attached and every reading dated.
  3. Request the certificate in the portal. The Sophron® team reads your phase call and signs it off, or tells you what to fix.

As Macro Analyst on the Analyst Program you hand in nothing extra: pass every lesson, have your Macro Report signed off and meet the cycle’s attendance and pitch criteria, then request the certificate.

Get access

One membership, every module

The module comes with the Sophron® Passport and with AIC Premium, together with the Analyst Program and every other module.

The Sophron® Passport

€25 a year

The Analyst Program, the Quant Program once you are selected, five modules with their own certificate and badge (more to come), and the Options Course at the member price. Cancel any time.

See the Passport

AIC Premium

€15 a year

The same access for students, through the Amsterdam Investment Club.

AIC Premium

Already have access? Open Macro Analysis in the portal.