Macroeconomic Diagnostics (MDS)

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Apply online by May 20, 2019
Course No.: JV 19.26
Location: Vienna, Austria
Date: September 16, 2019-September 27, 2019 (2 Weeks)
Language: English

Target Audience:

Mid-level to senior officials in central banks and ministries of finance or economy who are directly involved in diagnosing the state of the macroeconomy and making projections.


Participants should have an advanced degree in economics or equivalent experience, good quantitative skills, and proficiency in the use of Excel. It is strongly recommended that applicants complete the online FPP.1x and FFP.2x courses or theface-to-face FPP and the online MDSx before enrolling in this course.

Course Description:

This course, presented by the IMF Institute, is designed to strengthen participants’ ability to comprehensively assess a country’s macroeconomic situation, including the current state of the economy; the stance of fiscal and monetary policy; financial stability; exchange rate misalignments; vulnerabilities in the different sectors; and the medium-term outlook, especially the sustainability of public and external debt.

The course emphasizes practical tools for use in day-to-day macroeconomic analysis and relies on case studies relevant to the region where the course is given to illustrate how these tools are applied and how they can contribute to the policymaking process.

Course Objectives:

Upon completion of this course, participants should be able to:

  • Analyze potential output and calculate output gaps, and diagnose the outlook for the economy.
  • Assess the stance of current fiscal, monetary and exchange rate, and financial policies.
  • Assess macro-financial linkages, including through the analysis of financial sector soundness indicators.
  • Assess the medium-term prospects of the economy, especially the sustainability of public and external debt, and identify impediments to long-term growth.
  • Identify possible external and internal economic risks and vulnerabilities to economic growth and identify policies to address them.

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.