The ability to assess a country’s macroeconomic situation is a critical first step in the formulation of macroeconomic policy. As the economy becomes more complex with increasing interconnectivity among macroeconomic sectors within and across economic boundaries, there is a pressing need to equip economic analysts and technical staff of central banks with the appropriate diagnostic and analytic tools that are not usually covered in the macroeconomic textbooks or in university courses.
The course is intended to enable participants to assess a country’s macroeconomic situation using appropriate tools. In particular, at the end of the one-week course, participants will be able to: (1) explain the current state of the macroeconomy of a country; (2) assess medium-term flows of funds, balance-sheet position, and sustainability of key macroeconomic sectors; and, (3) measure the macroeconomic effects of monetary and fiscal policy.
Middle-level officials from central banks or monetary authorities who are closely involved with assessing overall macroeconomic developments and prospects as well as with policy analysis and strategy. Participants are expected to have a university degree in economics or equivalent experience, good quantitative skills, and proficiency in the use of spreadsheets.
- Macroeconomic framework
- Supply and productivity
- Aggregate demand
- Monetary policy
- Fiscal policy
- External positions
- Exchange rate and foreign exchange reserves
- Debt sustainability