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Negative Interest Rates: Origins and Implications


What Will You Learn?

A world where negative interest rates are the norm is new terrain, and many investors and advisors are uncertain of the effect. Will negative rates have the intended policy impact of spurring lending and reinvigorating economic growth? Has the policy distorted financial markets with an unorthodox approach to dealing with negative rates? How do the money markets handle a negative rate scenario where the communication channels between retail and non-financial customers break down? This course is designed to answer these and other questions.

  • Lesson 1: Fiscal Policy
    • Fiscal Policy in the U.S.
    • The 2008 Global Financial Crisis
    • The 2020 COVID-19 Pandemic
    • Challenges of Financing a Growing U.S. Fiscal Deficit
  • Lesson 2: Monetary Policy
    • Monetary Policy Theory
    • U.S. Administered Interest Rates
    • The History of U.S. Monetary Policy from World War II to 2007
    • The History of U.S. Monetary Policy from 2008 to 2020
    • Quantitative Easing in the U.S.
    • The Global Extent of Quantitative Easing
    • Aggressive Monetary Easing in Hindsight
    • Impact of Aggressive Monetary Policy on U.S. Bond Yields in 2020
  • Lesson 3: Modern Monetary Theory (MMT)
    • Modern Monetary Theory Explained
    • Timeline of Modern Monetary Theory
    • Risks of Modern Monetary Theory
  • Lesson 4: Negative Interest Rates
    • Defining Negative Interest Rates
    • How the Federal Reserve Board Would Implement Negative Interest Rates
    • The Fed and the ECB European Central Bank
    • The Magnitude of the Negative-Yielding Bond Market
    • Negative Interest Rates in the U.S. and Canada
  • Lesson 5: The Impact of Negative Interest Rates on Portfolio Management Strategies and Techniques
    • Traditional Portfolio Management
    • Major Risks of Negative Interest Rates for Portfolio Management
What are the approximate hours of study?
Hours of Study 3 hours
Number of Quizzes 1
Quiz Format Online
Question Format Multiple Choice
Questions Per Quiz 30 Questions
Passing Grade 60%*
Attempts Allowed Unlimited

* IMPORTANT: There is no maximum to the number of quiz attempts permitted, but only the first passing grade (60% or over) will appear on official web transcript.

What is the enrolment period?
Enrolment Period 6 months

Continuing Education (CE) Credits

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