Macroeconomic Impact On Personal Finance
From Open Risk Manual
Definition
Macroeconomic Impact On Personal Finance. In the context of the Financial Competence Framework, Macroeconomic Impact On Personal Finance is a topic in the Financial Landscape subject matter domain.[1]
Competences
Mastering the role of Macroeconomic Impact On Personal Finance in financial literacy context requires the following competences:
| Code | Competency Description | Competency Type |
|---|---|---|
| 554 | Understands that changes to policies on issues such as state benefits, interest rates, pension reforms or employment laws can have an impact on personal financial decisions and plans | Knowledge |
| 555 | Knows the main bodies with an influence on the economic and financial system | Knowledge |
| 556 | Makes changes to financial plans when necessary based on an assessment of the impact of external factors | Skill |
| 557 | Identifies strategies to ensure the resilience of financial asset to medium to long-term factors and risks (including climate-related risks) | Skill |
References
- ↑ European Union/OECD (2022), Financial competence framework for adults in the European Union
