Macroeconomic Management in Resource Rich Countries (MRC)

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Deadline for the application has passed.
Course No.: HQ 17.04
Location: Washington, D.C., United States
Date: May 15, 2017-May 26, 2017 (2 Weeks)
Language: English

Target Audience:

Mid- to senior-level officials from central banks, ministries of finance, and other relevant government agencies involved in the design and execution of policies in Resource-Rich Countries (RRCs).


Participants are expected to have an advanced degree in economics or equivalent experience.

Course Description:

This course, presented by the IMF's Institute for Capacity Development, focuses on macroeconomic policy issues and challenges faced by RRCs. The course uses lectures, hands-on workshops, debates, case studies, as well as a number of online warm-up exercises.

Course Objectives:
Upon completion of this course, participants should be able to:
  • Assess how economic performance in RRCs may differ from other countries (e.g., in terms of growth, inclusive growth, political economy, resource curse, diversification, and Dutch Disease).
  • Apply simple fiscal rules to determine how much to extract, consume, and save from the sale of natural resources, as well as the modalities for savings such as a sovereign wealth fund.
  • Design a fiscal framework with clear objectives and priorities that delivers long-run fiscal sustainability and addresses commodity price volatility, with a supporting role for the public sector on fiscal regime and government spending.
  • Identify appropriate macroeconomic policy responses to commodity price shocks.
  • Assess the pros and cons of policies to promote diversification and transparency in the management of natural resources.

Important Note for Online Courses:

For Online Learning (OL) courses, which are delivered through the edX platform, you will need an additional piece of information to register: you will be prompted for your edX.org username. If you do not already have a username, please go to https://courses.edx.org/register and sign up for a free account. Once you have created an account, you may complete the IMF Institute application. If you already have an edX account, your username can be found on the top right of the screen after logging in.

Important Note for Internal Economics Training Courses:

Internal Economics Training (IT) courses are self-financed. The IMF will not charge officials for attending courses. However, all travel, insurance, hotel, and living costs will need to be covered by the agency sponsoring the participants.