Macroeconomic and financial risks refer to unexpected changes in macroeconomic conditions or movements in financial variables that would have an adverse effect on the economic profit or investment return of an entity. If the central bank increases interest rates, it reduces profits for firms which rely on debt financing. If a country devalues its currency or defaults on its sovereign debt, foreign creditors or investors realize investment losses. This course introduces fundamental concepts of macroeconomic and financial risk management. It comprises both quantitative and qualitative tools to identify, measure, and manage risks. Challenges in risk management processes are also addressed.