This course emphasises technical and analytical aspects of macroeconomic and monetary policy management, including monetary policy transmission mechanisms, assessing the stance of monetary policy, inflation dynamics, early warning indicators of financial instability, exchange-rate management issues and the implementation of macroprudential policies. It focuses on both theory and application, using lectures together with hands-on exercises and case studies.
At the end of the course, participants will be able to: (1) discuss monetary policy frameworks, transmission mechanisms and communicating monetary policy; (2) appreciate the issues associated with exchange-rate management and the implementation of macroprudential policies; (3) assess the stance of monetary policy in relation to the macroeconomic conditions facing an economy; (4) understand the channels through which monetary policy affects the economy; and (5) evaluate the stylised facts about capital flows as well as the scope for capital flows management measures.
This course is intended for middle-level officers or technical staff whose work involves macroeconomic surveillance and analysis of monetary policy. Participants should have at least two years’ relevant working experience and be familiar with basic econometrics and the use of econometric software such as EViews.
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