ABOUT THE COURSE
Program Structure and Enrollment Criteria
With education costs on the rise, the Macro Specialist Designation provides a practical and cost-effective alternative to an MBA or other financial-related degrees. The program can be completed in as little as 18 months, while maintaining a full-time career.
- The M2SD program is a self-paced course consisting of three levels of exams, each of which must be passed in order to move on to the next level.
- All three levels of the program can be completed on your own schedule in as little as 18 months.
- Study materials consist of a series of video lessons taught by François Trahan. They are housed on the Canvas learning platform. There are also Essential Readings in each chapter that provide context for the M2SD study materials.
- Study materials also include practice Q&A for each chapter and several full-length practice exams. The final exam consists of 150 multiple choice questions to be completed within three hours.
- Candidates will register to take the exam through a Pearson testing center in a location convenient for them. There will be several testing windows available per year.
- After successfully passing all three levels of the M2SD program candidates will be invited to become a member of The Macro Institute. They will be entitled to display the M2SD designation on their resumes and business cards.
- Currently, only residents of the United States, Canada, the United Kingdom, Australia, India or Singapore may register for the program. Additional locations will open shortly.
Candidates that register prior to June 30, 2023 will become a member of the M²SD Ambassador Class. Ambassadors will receive free access* to Trahan Macro Research macro publications for one year.
* Free access to research applies to the individual who is registered for the program. Free access does not extend to other employees who work at the candidate’s firm.
Curriculum and Exam Topics
Bloc 1: An Introduction to Financial Economics
Chapter 1: Introduction To Macro Principles
Chapter 2: A Guide to Practical Economics
Chapter 3: The Data
Chapter 4: Leading Economic Indicators (LEIs)
Chapter 5: Anticipatory Economic Indicators (AEIs)
Bloc 2: The Forces Driving The Economy
Chapter 6: Monetary Policy
Chapter 7: The Yield Curve
Chapter 8: Fiscal Policy
Chapter 9: The Currency
Chapter 10: Other Long-Term Influences
Bloc 3: The Stock Market: Fact, Myths, Misconceptions
Chapter 11: The Equity Market
Chapter 12: Earnings Expectations (EPS)
Chapter 13: Market Multiples (P/Es)
Chapter 14: An Alternative Take On Dividends
Chapter 15: Market Cycles
Bloc 4: Important Topics In Financial Research
Chapter 16: Market Valuation Models
Chapter 17: Fixed Income Markets (Bonds)
Chapter 18: Behavioral Finance
Bloc 5: The Structural Backdrop
Chapter 19: From “Great Moderation” To “Era Of Uncertainty”
Chapter 20: Investing In The “New Normal”
Chapter 21: A History Of Exuberance And Crisis
Chapter 22: The Investment Backdrop And Why It Matters
Chapter 23: The World’s Influence On U.S. Equities
Bloc 6: Global Influences and Investment Decisions
Chapter 24: The Eurozone
Chapter 25: Japan
Chapter 26: China
Chapter 27: Asset Allocation Is A Global Affair
Bloc 7: Sector Leadership
Chapter 28: Sector Positioning And The Business Cycle
Chapter 29: The Technology Sector
Chapter 30: The Consumer Discretionary Sector
Chapter 31: The Communication Services Sector
Chapter 32: The Industrials Sector
Chapter 33: The Financials Sector
Chapter 34: Defensives: Health Care And Staples
Chapter 35: Cyclicals: Energy And Materials
Chapter 36: Rate-Sensitives: REITs And Utilities
Bloc 8: The Centerpiece Of Stock Selection: Factors
Chapter 37: The Use And Misuse Of The Size/Style Matrix
Chapter 38: Growth Investing In The New Normal
Chapter 39: Value Investing In The New Normal
Chapter 40: The Classic Factors And Their Applications
Chapter 41: Valuation
Chapter 42: Manipulation (Quality)
Chapter 43: Governance
Chapter 44: Operating Efficiency
Chapter 45: Profitability
Chapter 46: Factor Leadership And The Business Cycle
Bloc 9: The Essential Tools Of Stock Selection
Chapter 47: Model Building In The Era Of Uncertainty
Chapter 48: Monitoring A Portfolio For: Credit Downgrades
Chapter 49: Monitoring A Portfolio For: M&A Activity
Chapter 50: Monitoring A Portfolio For: Sentiment/Crowding
Chapter 51: Monitoring A Portfolio For: Red Flags And Torpedoes
Bloc 10: The Essential Behaviors Of Successful Stock Selection
Chapter 52: Strengths & Weaknesses Of Classic Investment Strategies
Chapter 53: Value Traps And Other Common Pitfalls
Chapter 54: The Do’s And Don’ts Of Stock Selection