Chartered Fintech Professional (CFtP) Level 1A Training Module 1: Economics
- Analytics & Tech
- Finance & Investment
This module is conducted in-person.
2 days
Weekday and Saturday (9am - 5pm)
Who Should Attend
- Young graduates or early-career professionals who are exploring a new career in Fintech and would like to undergo a structured and rigorous industry-relevant programme
- Professionals who are already working at the intersection of finance and technology and who wish to keep abreast with latest fintech knowledge, applications, and trends
- Finance or Tech professionals who are currently leading teams in related industries and would like to plug their knowledge gaps in finance and/ or technology
- Industry regulators from central monetary authorities, law enforcers of financial crime etc., who are seeking a systemic perspective on the disruptions to financial services and monetary system
PREREQUISITES
- 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
Overview
Module 1 of the Level 1A training sets the direction for and encapsulates the concept of learning Economics for Fintech professionals. Studying Economics equips Fintech professionals with a comprehensive understanding of the economic forces that shape their industry. This knowledge will also help them to understand market dynamics, make sense of economic policy implications, leading to better understanding of the regulatory landscape in which they operate. It enhances their ability to adapt to changing market conditions, develop innovative products, manage risks, and make sound financial decisions, ultimately leading to the success and growth of their fintech businesses.
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 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.
Learning Objectives
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
Assessment
As part of the requirement for SkillsFuture Singapore, there will be an assessment conducted at the end of the course. The mode of assessment, which is up to the trainer’s discretion, may be an online quiz, a presentation or based on classroom exercises.
Participants are required to attain a minimum of 75% attendance and pass the associated assessment in order to receive a digital Certificate of Completion issued by Singapore Management University.
Calculate Programme Fee
Fee Table
| COMPANY-SPONSORED | |||
|
PARTICIPANT PROFILE |
SELF-SPONSORED |
SME |
NON-SME |
|
Singapore Citizen < 40 years old Permanent Resident LTVP+
|
$654 (After SSG Funding 70%) |
$254 (After SSG Funding 70% |
$654 (After SSG Funding 70%) |
|
Singapore Citizen ≥ 40 years old |
$254 (After SSG Funding 70% |
$254 (After SSG Funding 70% |
$254 (After SSG Funding 70% |
|
International Participant |
$2,180 (No Funding) |
$2,180 (No Funding) |
$2,180 (No Funding) |
All prices include 9% GST
Post Secondary Education Account (PSEA)
PSEA can be utilised for subsidised programmes eligible for SkillsFuture Credit support. Click here to find out more.
Self Sponsored
SkillsFuture Credit
Singapore Citizens aged 25 and above may use their SkillsFuture Credits to pay for the course fees. The credits may be used on top of existing course fee funding.
This is only applicable to self-sponsored participants. Application to utilise SkillsFuture Credits can be submitted when making payment for the course via the SMU Academy TMS Portal, and can only be made within 60 days of course start date.
Please click here for more information on the SkillsFuture Credit. For help in submitting an SFC claim, you may wish to refer to our step-by-step guide on claiming SkillsFuture Credits (Individual).Workfare Skills Support Scheme
From 1 July 2023, the Workfare Skills Support (WSS) scheme has been enhanced. Please click here for more details.
Company Sponsored
Enhanced Training Support for SMEs (ETSS)
- Organisation must be registered or incorporated in Singapore
- Employment size of not more than 200 or with annual sales turnover of not more than $100 million
- Trainees must be hired in accordance with the Employment Act and fully sponsored by their employers for the course
- Trainees must be Singapore Citizens or Singapore Permanent Residents
- Trainees must not be a full-time national serviceman
- Trainees will be able to enjoy ETSS funding only if the company's SME's status has been approved. To verify your SME's status, please click here.
Please click here for more information on ETSS.
Absentee Payroll
Companies who sponsor their employees for the course may apply for Absentee Payroll here. For more information, please refer to:
AP Guide (Non-SME Companies)
Declaration Guide (SME Companies)
Intake Information
This module is conducted in-person.
| Course | Dates |
|---|---|
| INTAKE 1 | [To Be Confirmed] |
*Online registration will close 5 calendar days before the course start date
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