Balance of Payments and International Investment Position Statistics from edX

This course covers the fundamentals needed to compile the international accounts. The course introduces the conceptual statistical framework for balance of payments and IIP-as presented in the Balance of Payments and International Investment Position Statistics Manual, sixth edition (BPM6), which is harmonized with other macroeconomic statistical frameworks. You will learn about the current, capital, and financial account balances, and how they reflect your economy's interaction with the rest of the world. Basic concepts, definitions, and classifications are covered, along with the principal accounting rules (including valuation and time of recording) that are relevant for compilation of the international accounts. The course also discusses the functional categories, including direct investment. The need for integration of the balance of payments with the IIP for compiling comprehensive, internationally comparable statistics will also be discussed.

What you'll learn

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

Explain the framework of the balance of payments and IIP and relevant indicators, such as the current, capital, and financial accounts balances.
Apply core concepts and definitions relevant to the international accounts such as residence, economic territory, predominant center of economic interest, and accounting rules.
Classify cross-border transactions and positions according to the BPM6.
Record the main components of balance of payments and IIP.
Explain the direct investment framework and its role in the economy, including as a source of financing.
Compare the different functional categories and understand the economic interpretation for each category.
Recognize the need for integration of the balance of payments with the IIP for producing consistent and coherent data.

What's inside

Learning objectives

Explain the framework of the balance of payments and iip and relevant indicators, such as the current, capital, and financial accounts balances.
Apply core concepts and definitions relevant to the international accounts such as residence, economic territory, predominant center of economic interest, and accounting rules.
Classify cross-border transactions and positions according to the bpm6.
Record the main components of balance of payments and iip.

Explain the direct investment framework and its role in the economy, including as a source of financing.
Compare the different functional categories and understand the economic interpretation for each category.
Recognize the need for integration of the balance of payments with the iip for producing consistent and coherent data.

Explain the framework of the balance of payments and iip and relevant indicators, such as the current, capital, and financial accounts balances.
Apply core concepts and definitions relevant to the international accounts such as residence, economic territory, predominant center of economic interest, and accounting rules.
Classify cross-border transactions and positions according to the bpm6.
Record the main components of balance of payments and iip.
Explain the direct investment framework and its role in the economy, including as a source of financing.
Compare the different functional categories and understand the economic interpretation for each category.
Recognize the need for integration of the balance of payments with the iip for producing consistent and coherent data.

Good to know

Know what's good

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, and possible dealbreakers

Well-suited for beginners learning about international accounting

Led by Tamara Razin, an expert in international accounting

Uses the latest version of the Balance of Payments and International Investment Position Statistics Manual (BPM6)

Provides a comprehensive overview of international accounting concepts and practices

Suitable for learners with an interest in international finance, economics, or business

May not be suitable for advanced learners in international accounting

Activities

Be better prepared before your course. Deepen your understanding during and after it. Supplement your coursework and achieve mastery of the topics covered in Balance of Payments and International Investment Position Statistics with these activities:

Connect with a professional working in the field of international finance

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Gain insights and guidance from an experienced professional and build a valuable network.

Browse courses on International Finance

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Identify potential mentors through professional organizations, LinkedIn, or industry events.
Reach out to your chosen mentors and express your interest in connecting.
Schedule regular meetings or calls to discuss your progress and seek advice.

Review BPM6: Balance of Payments and International Investment Position Statistics Manual

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Become familiar with the core concepts and framework of the BPM6, which will serve as the foundation for the course.

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Read chapters 1-3 of the BPM6 manual.
Summarize the key concepts and definitions presented in these chapters.
Identify the different components of the balance of payments and the IIP.

Attend a webinar or conference on international finance

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Connect with professionals in the field and stay updated on current trends and developments in international finance.

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Identify relevant webinars or conferences in your area or online.
Register for the event and attend the sessions.
Take notes on key insights and make connections with other attendees.

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Create a sample balance of payments table

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Develop practical skills in compiling and analyzing balance of payments data.

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Gather data on international transactions from official sources or databases.
Classify the transactions according to the BPM6 framework.
Record the transactions in a spreadsheet or database.
Calculate the balance of payments for each major category (current, capital, and financial accounts).
Analyze the results and identify any trends or patterns.

Follow online tutorials on balance of payments data analysis techniques

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Gain practical skills in using statistical software or tools to analyze balance of payments data.

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Identify online tutorials or courses that cover data analysis techniques relevant to balance of payments.
Follow the tutorials step-by-step, applying the techniques to sample data.
Experiment with different data visualization methods to present the results.

Solve practice problems on balance of payments accounting

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Strengthen understanding of the accounting principles and rules used in compiling the balance of payments.

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Find practice problems in textbooks, online resources, or past exam papers.
Solve the problems step-by-step, following the BPM6 guidelines.
Check your answers against provided solutions or consult with a tutor or instructor.

Participate in a workshop on advanced topics in balance of payments analysis

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Deepen your understanding of complex concepts and techniques in balance of payments analysis.

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Identify workshops that align with your interests and learning goals.
Register for the workshop and prepare for the sessions.
Engage actively in the discussions and exercises led by experts in the field.

Develop a presentation on a specific topic related to the balance of payments

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Enhance communication and presentation skills while deepening understanding of a specific aspect of the balance of payments.

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Choose a topic that interests you or is relevant to your field of study.
Research the topic thoroughly using credible sources.
Organize your content into a logical flow with an introduction, body, and conclusion.
Create visual aids and handouts to support your presentation.
Practice delivering your presentation and seek feedback from peers or a mentor.

Career center

Learners who complete Balance of Payments and International Investment Position Statistics will develop knowledge and skills that may be useful to these careers:

International Economist

International Economists study the economies of different countries and regions, and how they interact with each other. This course may be helpful for International Economists as it provides a comprehensive overview of the international economy, including the balance of payments and international investment positions.

See salaries and explore the career path for International Economist

Economic Analyst

Economic Analysts study and interpret economic data to make forecasts and recommendations on economic policy. This course may be helpful for Economic Analysts as it provides a strong foundation in international economics, which has become increasingly important for understanding the global economy.

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Quantitative Analyst

Quantitative Analysts use mathematical and statistical models to analyze financial data and make investment recommendations. This course may be helpful for Quantitative Analysts as it helps build a strong foundation in international economics and the global financial system, which are key to understanding the global economy and making sound investment decisions.

See salaries and explore the career path for Quantitative Analyst

International Business Consultant

International Business Consultants help companies expand their businesses globally. With this course's emphasis on international economics, participants can gain a deep understanding of the global economy and the frameworks used to study it, which is key to succeeding in this role.

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Risk Analyst

Risk Analysts identify, assess, and mitigate risks for their organizations. This course may be helpful for Risk Analysts as it can help build a strong foundation in international economics and the global financial system, which are key to understanding and mitigating risks in the global economy.

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Investment Banker

Investment Bankers provide financial advice to companies and governments on mergers and acquisitions, capital raising, and other strategic transactions. This course may be helpful for aspiring Investment Bankers because it can help build a strong foundation in international finance, which is key to understanding the global financial markets and advising clients on cross-border transactions.

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Economist

Economists study the production, distribution, and consumption of goods and services. This course builds a strong foundation in international economics, which is a key area of focus for economists.

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Financial Analyst

Financial Analysts study economics and financial markets, business conditions, and industry trends to make recommendations on investments. This course may be useful because it provides a strong foundation in the international economy, which is crucial for understanding global financial markets and making sound investment recommendations.

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Certified Public Accountant

Certified Public Accountants (CPAs) may find this course helpful as it provides a strong foundation in international accounting standards, which are essential for CPAs who work with multinational clients or who have clients who are subject to international reporting requirements.

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Financial Advisor

Financial Advisors provide individuals and families with financial planning and investment advice. Potential Financial Advisors may find this course helpful because it can help build a strong foundation in international economics, which is increasingly important for understanding the global financial markets.

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Actuary

Actuaries use mathematical and statistical techniques to assess and manage risks for insurance companies and other financial institutions. This course may be helpful for Actuaries as it can help build a strong foundation in international economics and the global financial system, which are key to understanding and managing risks in the global economy.

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Financial Risk Manager

Financial Risk Managers are responsible for identifying, assessing, and mitigating financial risks for their organizations. This course may be helpful to potential Financial Risk Managers as it helps build a strong foundation in international economics and the global financial system.

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International Banker

International Bankers are responsible for managing the financial operations of banks that operate in multiple countries. This course may be helpful to potential International Bankers as it provides a deep dive into the international monetary system and the balance of payments, both of which are key to success in this role.

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Data Analyst

Data Analysts gather, clean, and analyze data to extract meaningful insights. Data Analysts specializing in economics or finance may find this course helpful as it helps build a strong foundation in the international economy, which is a key area of focus for many data analysts.

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International Trade Specialist

International Trade Specialists help businesses import and export goods and services. This course may be helpful for aspiring International Trade Specialists as it provides a deep understanding of international trade and the policies that govern it.

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