This course is aimed at junior- to mid-level officials.
For details on how to attend this course, please click on the following link: Joint Vienna Institute (JVI) website.
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Participants are expected to have a degree in economics or a related field, and at least two years of professional experience.
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This ten-week course is taught jointly by the sponsoring members of the Joint Vienna Institute. Segments taught by the IMF cover macroeconomic management issues and financial programming. Other segments include governance and public sector management, social and labor market policies, private sector development and corporate governance, financial sector issues, trade policy and international trade regimes, and issues of economic integration in the European context.
The two-week IMF segment on Macroeconomic Management Issues introduces participants to the key macroeconomic policy issues and trade-offs facing government officials, with special emphasis on the problems facing transition economies. Lectures discuss macroeconomic policies (fiscal, exchange rate, and monetary) and issues (such as those related to the financial sector, international capital flows, and sustainability), stressing the inter-connections between different policies and how to design an appropriate policy package. Participants apply the analytical tools developed in the lectures in a series of hands-on workshops led by counselors.
The two-week IMF segment on Financial Programming reviews the analytical framework, techniques, and policy issues that arise when preparing a macroeconomic adjustment program, building on the concepts presented in Macroeconomic Management Issues. The content and design of financial programming is covered in depth. Lectures introduce participants to the accounting framework, economic analysis, and forecasting techniques underlying the design of macroeconomic policies, including the interrelations among the real, fiscal, external, and monetary sectors of an economy. Linked to these lectures are workshops in which participants are divided into small groups and, working under the direction of a counselor, have the opportunity to apply forecasting techniques to the case study country. On the basis of their forecasts, participants prepare a financial program for the case study country, in which policy proposals are identified and quantified.
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