Trading Economics — The Chief Economist & Market Intelligence Program

Program Description

Beyond the headlines. This program teaches participants to read macroeconomic data with judgment and to understand its impact on portfolios. GDP, inflation, rates, employment, the exchange rate, the balance of payments, forward guidance: how each indicator is constructed, what its limitations are and how it all gets priced in. Here you learn to read the data like a CIO, not like a columnist.

The journey is systematic. First, the measurement of macroeconomic variables and their calculation methods. Then, national accounting and the structure of the Mexican economy from the supply side and the demand side. Next, analysis with basic economic models (IS-LM, AD-AS) to evaluate fiscal and monetary policy and external shocks. Then, the current conjuncture: the outlook for growth, inflation and public finances, with an analysis case built on real Banxico reports. And finally, the synthesis that matters: tactical asset allocation based on the economic cycle and the dashboard of indicators a family office must monitor.

The faculty brings together three readings of economic power. José Antonio González Anaya, former Secretary of Finance and Public Credit of Mexico, PhD in Economics from Harvard, former Chief Executive Officer of Pemex and of the IMSS. Carlos Pérez Verdía, PhD from the University of Chicago, former Executive Director at the IMF and former official of Banco de México. John Soldevilla, CEO of ECOBI, with 24 years as an economic analyst and author of the Industry Risk Rating model. Nine in-person sessions in July 2026.

General Objective

Develop the capacity to analyze and interpret the principal macroeconomic variables and to understand their impact on financial markets and wealth decisions. Upon completing the course, participants will be able to read economic indicators with judgment, understand the structure of the domestic and international economy and apply simple economic models to anticipate trends, evaluate scenarios and ground their investment and portfolio management strategies on an informed, solid footing.

Learning Objectives

• 01Read the fundamental indicators with judgment: GDP, core and non-core inflation, policy and market rates, the exchange rate and employment.
• 02Understand the structure of the economy from the supply side and the demand side: productive sectors, informality, consumption, investment and the external sector.
• 03Apply simplified macroeconomic models (IS-LM, AD-AS) to analyze fiscal and monetary policy and external shocks.
• 04Analyze Mexico's economic conjuncture and the global context, identifying domestic and external macro risks for portfolios.
• 05Draw investment conclusions from official reports, such as Banxico's quarterly reports and inflation reports.
• 06Execute tactical asset allocation according to the phase of the economic cycle: overweighting or underweighting equities, fixed income and alternatives.
• 07Define the dashboard of indicators a family office must monitor and how to react to their releases.
• 08Manage uncertainty with alternative scenarios and portfolio stress tests.

Why Take This Program

1. José Antonio González Anaya, former Secretary of Finance and Public Credit of Mexico and former Chief Executive Officer of Pemex and the IMSS, in the classroom.
2. Carlos Pérez Verdía, PhD in Economics from the University of Chicago and former Executive Director of the International Monetary Fund.
3. John Soldevilla, CEO of ECOBI, with 24 years as an economic analyst and author of the 100-sector Industry Risk Rating model.
4. Three readings of economic power in a single program: academia (Harvard and Chicago), economic policy (Hacienda, Banxico, IMF) and market analysis.
5. A CIO mindset: every macro data point translates into a portfolio decision, not market commentary.
6. An analysis case with real reports: Banxico's quarterly report and inflation reports, guided by the experts.
7. A complete framework: from measuring GDP and inflation to tactical asset allocation across the economic cycle.
8. Intensive in-person format: 9 sessions and 18 hours in July 2026.
9. Executive schedule from 7:00 to 9:00 pm, Mexico City time, at Club de Industriales (Polanco) and IADA Anáhuac.
10. Networking with private wealth bankers, HNWIs and families managing real wealth.

Syllabus — Key Topics

• Measuring macroeconomic variables: GDP by the expenditure versus income approach; strengths and limitations of the indicators
• Inflation: the CPI and other price indices; core versus non-core inflation
• Interest rates: policy rates (Banxico, Fed) versus market rates (Cetes, T-Bills); the yield curve and expectations
• The exchange rate: nominal, real and multilateral effective; terms of trade
• Unemployment, consumer and business confidence, and the balance of payments
• National accounting — the supply side: productive sectors, relative productivity and informality
• The demand side: private consumption, public spending, investment (gross fixed capital formation) and foreign trade
• Output gaps and their implications for inflation and employment
• Basic macroeconomic models: IS-LM and AD-AS for analyzing policy and external shocks
• The current economic conjuncture: the outlook for growth, inflation and public finances
• Identifying domestic and external macro risks that affect portfolios
• Analysis case: reading a Banxico quarterly report and drawing investment conclusions
• Tactical asset allocation based on the phase of the economic cycle
• An indicator-monitoring dashboard for a family office and how to react to data releases
• Alternative scenarios and portfolio stress testing in the face of uncertainty

Faculty

John Soldevilla — CEO, ECOBI · Carlos Pérez Verdía — Consultor Económico, Simbiosis Económica; ex Director Ejecutivo del FMI · José Antonio González Anaya — Ex Secretario de Hacienda y Crédito Público de México