The Lubar College of Business is now offering the course Macro Specialist Designation, a course that will prepare you to take the Level 1 exam for the M²SD.* The Lubar College is one of only three universities in the world teaching this course.
*The Macro Specialist Designation (M²SD) is a professional education program designed to help people understand how macro trends impact equity markets and apply macro strategy and stock selection techniques when investing. (Macro Institute)
Format: This course will be delivered in a hybrid format. In-person meetings will take place every other week in Lubar Hall (room TBD) and on alternating weeks, the class will meet online via Teams.
Taught by award-winning teacher, Dr. Kevin Spellman, CFA, aka “Coach”, who is Professor of Practice and the Nicholas Director of Investment Management at University of Wisconsin-Milwaukee. He is known as “Coach” as he loves coaching investments. Coach has over 30 years of investment experience as an analyst, portfolio manager, director of research, and consultant/advisor, and nearly 25 years teaching, advising, and directing investment programs at several universities.
The Meaning Behind M2SD
The Macro Specialist Designation, or M²SD, is awarded to distinguished financial professionals who have mastered the complexities of macro forces and their impact on financial markets. Below, we break down the meaning behind each component of M²SD, reflecting the profound expertise and status that comes with this respected credential.
Macro is an investment style that begins with analyzing the broad economic backdrop and then drilling down, layer by layer, to build a profitable portfolio of securities that can navigate market peaks and troughs.
The Balance between the opposite but complementary forces of Macro (top-down analysis) and Micro (bottom-up analysis).
Specialist is the distinguished title awarded to new members of The Macro Institute.
Designation honors an investment professional who has gained a deep understanding of the influential role macro principles play in the financial markets.
Become a Macro Specialist
The M2SD program prepares candidates for today’s volatile market realities. You will build a new skill set that is additive and complementary to fundamental research practices. Armed with this new macro toolkit, you can elevate your performance across ever-evolving macro backdrops.
Course Benefits
Hybrid class for convenience with every other week in person and the other week synchronous online
Final exam in course to pass the M2SD level I exam
Learn about real-world economic and financial market developments
Receive the Macro Institute research for free while you’re a student.
When you pass the exam, you are able to post your resume on The Macro Institute website.
By completing this course, the M2SD course fee of $2,500 is waived by The Macro Institute and students will be able to earn their level 1 designation by passing the exam during final exam week.
The Macro Specialist Designation provides a practical and cost-effective alternative to other finance-related degrees. It is the perfect way for CFA Charterholders to complete the investment puzzle. The program can be completed in as little as 6 months, while maintaining a full-time career. M2SD candidates can apply their learnings to almost any career in the financial services industry. Anyone involved in the investment decision-making process or managing client portfolios can benefit from earning the designation.
Common Career Paths for Macro Professionals
Equity Analysts
Broaden the scope of your analysis to understand the macro drivers of a company’s performance and risks in addition to the stock-specific factors.
Financial Advisors
Communicate your knowledge of markets to your clients above and beyond financial planning expertise.
Portfolio Managers
Improve performance by identifying the big-picture trends that may pose a risk to your portfolio positioning.
Quantitative Analysts
Build intuitive but powerful stock-picking models using macro data and factors.
Course Outline
Sample 12 Week Outline
Week
Lessons
Chapters
Essential Reading
Applied Macro
1
The Basics, Practical Economics for Investors
1
“The Business Cycle in a Changing World”
You are the Economist
2
Imperative Data in Macro Analysis
2
“Shadow Statistics”
You are the Strategist
3
The Science of Financial Market Forcasting
3
“Essays on Interest Rates”
You are the CIO
4
The Role of Monetary Policy in Macro Analysis
The Misunderstood Role of Fiscal Policy
4, 5
“Unconventional Monetary Policy”
“The Yield Curve & Recession”
You are the Central Banker
You are the Head of the CBO
5
The Dollar’s Role in the Global Economy
6
“Exorbitant Privilege”
You are a Currency Trader
6
Equity Markets Across the Business Cycle
7
“The Alchemy of Finance”
You are the Portfolio Manager
7
The Inseparable Bond of Earnings & Macro Myths & Misconceptions about P/Es
8, 9
“The Trouble with Earnings & P/Es”
“All P/Es Are Not Created Equal”
You are the Equity Analyst
8
The Ultimate Macro Discipline: Fixed Income
10
“How Debt Markets Have Malfunctioned”
You are the Fixed Income PM
9
Behavioral Finance Distortions in Macro Analysis
11
“Behavioral Investing: A Practitioners Guide”
You are the Director of Research
10
Equity Analysis Meets the World Economy
12
“The Global Dollar Cycle”
You are the Global PM
11
The Macro Roots of Asset Allocation
13
“Revising Modern Portfolio Theory”
You are the Asset Allocator
12
The Dynamics of Sector Positioning Navigating the Cycle with Factor Leadership
14, 15
“Super Sectors – Sector Rotation”
“Fact Fiction and Factor Investing”
You are the Portfolio Manager
How to Enroll
UWM Students
By completing this course, the M2SD course fee of $2,500 is waived by The Macro Institute and students will be able to earn their level 1 designation by passing the exam in class during final exam week.
Undergraduate Students
Lubar undergraduate students can enroll in this course as an elective. Students should enroll in BUS ADM 395 Sec 004 Special Topics in Business: Macro Specialist Designation. Prereq: ECON 104 Macroeconomics; Coreq: BUS ADM 350 Principles of Finance.
Graduate Students
Lubar graduate students can enroll in this course as an elective. Students should enroll in BUS MGMT 795: Sec 004 Special Topics in Business: Macro Specialist Designation. Prereq: BUS MGMT 705(C) or previously as undergraduate ECON 104 Macroeconomics and BUS ADM 350 Principles of Finance.
By completing this course, the M2SD course fee of $2,500 is waived by The Macro Institute and students will be able to earn their level 1 designation by passing the exam in class during final exam week.
Preferred pre-requisite includes ECON 104 Macroeconomics; co-requisite of BUS ADM 350 Principles of Finance OR investment industry experience for undergraduate credit.
For graduate credit, co-requisite is BUS MGMT 705 Corporate Finance or professional industry experience.
It is recommended that non-degree students have one finance course or the first macroeconomics course or one or more years of experience in investments before taking this course.
Interested community members can take this course for a fee of $1,700.00, with a deposit of $700 due upon registration.
By completing this course for $1,700, the M2SD course fee of $2,500 is waived by The Macro Institute, saving you $800. You will be able to earn your level 1 designation by passing the exam in class during final exam week.
