Introduction to Macroeconomic Forecasting (MF)

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Course No.: OT 17.103
Location: Chiang Mai, Thailand
Date: September 4, 2017-September 8, 2017 (1 Week)
Language: English

Target Audience:

This two-week course, presented by the IMF Institute, is intended for mid- to senior-level officials involved in developing forecasts that are used in the design and implementation of macroeconomic policy.


Participants should have an advanced degree in economics or equivalent experience. They should also be comfortable using software for econometric applications such as EViews.

Course Description:

This course, presented by the IMF's Institute for Capacity Development, aims to strengthen participants' macroeconomic forecasting and modeling skills through the application of modern econometric techniques. Lectures are designed to include a discussion of underlying theory, live presentations of empirical analyses on a personal computer, and hands-on learning by participants in a computer lab. The course focuses on five aspects of empirical model building and forecasting:- data and model properties, including stationarity, non-stationarity and cointegration;- dynamic specification, including the use of error correction models;- model evaluation and model design; - forecast uncertainty, forecasting for policy, and policy analysis; and- combination forecasts.Participants apply the techniques to a case study country for which they estimate a model, evaluate it, and then use the model for forecasting.

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.