Macroeconomic Diagnostics (INS-CRS)

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Course No.: IT 18.17
Location: Washington, D.C., United States
Date: November 9, 2018-November 16, 2018 (6 Days)
Language: English

Course Description:

This course is part of the Macro-Surveillance Training Series, offered under the Internal Economics Training’s Structured Curriculum.

This course presents practical tools useful in day-to-day country analysis to help desk economists better assess a country’s macroeconomic conditions and strengthen their surveillance skills. The course draws heavily on country desk experiences, emphasizing diagnostic and analytical tools in the context of limited data availability. Key macroeconomic topics will be discussed, including aggregate demand, aggregate supply, productivity, potential output, business cycles, inflation, labor markets, banking and financial markets, and the external sector. Particular focus will be given to tools used to assess the fiscal and monetary policy stance and the transmission mechanisms. This will include assessment of medium-term prospects, through the analysis of fiscal and external sustainability, competitiveness, potential misalignment of the real exchange rate, and financial sector vulnerabilities. Participants will work in small groups mimicking country teams. Workshops will provide hands-on training on the core IMF surveillance tools, using Microsoft Excel, EViews, and Stata. Participants will prepare a presentation on the key themes for a mock policy note (PN) in a venue simulating that of a policy consultation meeting.

Upon completion of the course, participants will have the opportunity to draft their own PN with the help of a dedicated coach selected from a list of ex Fund senior staff with substantial hands-on experience in operational work and country review. Participants will receive individualized feedback and coaching on the substance and style of their drafts.

Target Audience:
Economists involved in day-to-day country desk work as well as economists who would like to gain exposure to country desk work.

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.