IMF Regional Office for Asia and the Pacific (OAP) - Japan-IMF Scholarship Program for Asia (JISPA): National Graduate Institute For Policy Studies (GRIPS)

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IMF Regional Office for Asia and the Pacific (OAP)

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National Graduate Institute For Policy Studies (GRIPS)

GRIPS campus

Program Director's Message

Prof. Fujimoto

The Macroeconomic Policy Program (MEP) at GRIPS provides macroeconomic policy makers the ability to guide the economy to stable and sustained growth. Many of our graduates are currently playing leadership roles in the public sector such as government ministries and central banks. Join the MEP and get a boost in your career—it’s your turn to change your country for the better!

Junichi Fujimoto
Program Director and Associate Professor, Macroeconomic Policy Program, GRIPS

National Graduate Institute For Policy Studies (GRIPS)

GRIPS is a graduate school specializing in education and research in the area of policy studies. Established by the Japanese government in 1997, GRIPS aims to provide interdisciplinary education for future leaders in the public sector and to conduct cutting-edge research on contemporary policy issues. GRIPS is located in Roppongi, one of the trendiest cultural and international districts in the heart of Tokyo, and has a cosmopolitan atmosphere with around 20% of the faculty and 70% of students coming from outside of Japan.

The predecessor of GRIPS was the Graduate School of Policy Sciences established in 1977 at Saitama University, the first graduate school for policy studies in Japan.

Based on research outputs and impacts, the economics group at GRIPS was ranked Second in Japan and Tenth among public policy schools in the world (RePEc, May 2017).

Macroeconomic Policy Program (MEP)

For JISPA scholars, GRIPS offers One year Macroeconomic Policy Program and Two year Macroeconomic Policy Program (MEP). One year MEP requires 34 credits for graduation and grants a Master of Public Policy or a Master of Public Economics; Two year MEP requires 44 credits and grants a Master of Arts in Public Economics. Qualified candidates with strong competency who are higly motivated to complete an intensive one year program are encouraged to apply for One year MEP. Qualified candidates who have flexible working schedules, willing to devote more time to thesis writing, and have a desire to develop more advanced analytical skills are welcomed to Two year MEP.

The MEP is a professionally oriented program designed to train modern macroeconomic policy makers and professionals who need to understand macroeconomic fluctuation and the roles of monetary and fiscal policies in domestic and global economies. It values education in principles and theories of macroeconomics, combining rigorous training in analytical and quantitative methods with emphasis on macroeconomic policy analysis, design, and implementation.

The MEP developed from the successful tradition of Transition Economy Program, a partner of JISPA since the inception of the scholarship program.

The Faculty

The MEP is supported by full time faculty and visiting lecturers. About 20 full time faculty members, many of which are international scholars, form the core faculty of the program. The faculty at GRIPS include both members with solid academic trainings and outstanding publication records as well as practitioners with extensive experiences in civil services and public policy management. All of them are committed to educating new generations of policy makers and have rich experiences in teaching and thesis supervisions.

The Curriculum

The curricula consist of four components: required courses, a policy paper (One year Program)/thesis (Two year Program), recommended courses, and elective courses. The required courses, which include Macroeconomics, Microeconomics, and Econometrics, provide solid training in principles and theories of economics and develop practical analytical skills for designing and evaluating macroeconomic policies. The variety of recommended and elective courses gives students the chance to further advance their analytical and quantitative skills as well as to develop their specialization in specific areas of interests, such as monetary policy, fiscal policy, international trade, and financial markets.

Required Courses

All MEP students must take the following seven courses: Macroeconomics I &II, Microeconomics I & II, International Finance, Introduction to Applied Econometrics, and Introduction to Public Policy Studies.

Policy Paper/Thesis

One year MEP students are required to write a policy paper; Two year MEP students are required to write a master’s thesis. Both policy paper and thesis writings will be supervised by core faculty members through thesis seminars.

Recommended Courses

Recommended courses include quantitative analysis courses such as Applied Time Series Analysis for Macroeconomics, Introduction to Policy Evaluation, Mathematics for Economic Analysis, Statistics, Quantitative Social Systems Analysis, and Cost Benefit Analysis I &II.

Students may also choose from courses covering a wide range of disciplines such as Accounting and Financial Management, Empirical Finance, Financial Economics, Monetary Economics, International Trade, Public Expenditure Management, Development Economics, Labor Economics, Game Theory, and Japanese Economy.

Advanced Courses in Economics

Students with exceptional qualifications and capacities have opportunities to take advanced economics courses offered to Ph.D. candidates of the Policy Analysis Program.

GRIPS Forums and Seminars in Frontiers of Economics Research

The bi-weekly GRIPS forum provides an excellent opportunity for students to understand major economic and political issues in Japan and the world. The weekly economic seminars open students’ eyes to the frontier of economic research.


Candidates must hold a Bachelor’s degree from a recognized/accredited university and must satisfy the English language requirements with a minimum TOEFL score of 550 (iBT 79) or IELTS 6.0. A strong undergraduate background and work experience in public policy related fields are also required.


GRIPS offers all necessary facilities for students. The GRIPS library maintains an excellent collection of books, journals, databases, and reference materials. Wireless internet access is available on campus. On-campus facilities also include a fitness center, auditorium, conference rooms, individual study rooms, and a health clinic staffed with an English speaking nurse and doctor.

Accommodation is provided in GRIPS International House in Nakano, the Tokyo International Exchange Center in Odaiba, Misato Housing Complex in Saitama Prefecture, or in private appartments recommended by the GRIPS Student Office.

Further information on the program can be found on the GRIPS website at