## jispa-e-brochure

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---

### Overview and Purpose
- The Japan-IMF Scholarship Program for Asia (JISPA) was established in 1993 and is funded by the Government of Japan; it is administered by the International Monetary Fund (IMF) as a strategic investment in the sound economic development of Asia and the Pacific.
- JISPA is designed for officials from government agencies, including central banks, involved in macroeconomic policy formulation and implementation.
- Hosted by partner graduate institutions in Japan, the program provides rigorous academic and professional training in economics and related fields to strengthen institutional capacity across the region.
- Target intake: selective annual intake of around 35 scholars, forming a small cohort and a “JISPA family.”
- Alumni: approximately 1,000 alumni across 20+ countries; Continuing Education (CE) program invites alumni with four plus years of additional work experience after graduation for short-term training in Japan.

### Eligible Countries and Target Candidates
- Eligible countries: Bangladesh, Bhutan, Cambodia, India, Indonesia, Kazakhstan, Kyrgyz Republic, Lao P.D.R., Malaysia, Maldives, Mongolia, Nepal, Pacific Island Countries, Papua New Guinea, Philippines, Sri Lanka, Tajikistan, Thailand, Timor-Leste, Turkmenistan, Uzbekistan, and Vietnam.
- Candidate profile:
  - Motivated officials whose applications are formally endorsed by their governmental agencies.
  - Must demonstrate strong commitment to advancing their countries’ economic development and enhancing public welfare.
  - Typical home agencies: central banks, ministries of finance, and other government agencies involved in macroeconomic policy formulation.

### Scholarship Coverage and Restrictions
- Scholarship covers expenses for the scholar only; scholars are not permitted to receive other scholarships concurrently with JISPA.
- Covered items:
  - Admission and tuition fees
  - Monthly stipend
  - Pre-arrival allowance (visa fees and medical exam) and settling-in allowance
  - Visa application
  - Housing
  - Insurance package
- Partner Universities offer assistance for:
  - Field-trip fees arranged by the partner university
  - Allowance for one round-trip economy airfare
  - Orientation Program fees

### Key Features and Program Benefits
- Boutique Scholarship Program for Future Policymakers:
  - Small cohort around 35 scholars for policy idea exchange and lifelong professional networks across Asia and the Pacific.
- Tailored Curriculum and Pastoral Care:
  - Partner universities deliver specialized programs; all courses conducted in English.
  - Curriculum blends economic theory and applied policy skills in macroeconomics, public management and quantitative methods.
- Orientation Program:
  - Pre-course intensive Orientation Program to strengthen foundations in English, mathematics, introductory economics and econometrics, and Japanese language.
- Access to IMF Expertise:
  - Administered by the IMF’s Regional Office for Asia and the Pacific; provides direct engagement with IMF economists and senior management and access to IMF-led learning opportunities.
- Exposure to Japanese Policymakers:
  - Seminars and field visits involving direct engagement with the Ministry of Finance and the Bank of Japan.
- Networking:
  - Events include welcome and farewell receptions, summer workshops, seminars, and thesis presentations.
- Career and Alumni Impact:
  - Alumni connected through an online platform and Continuing Education (CE) program.

### The Master’s Track — Structure and Partner Programs
- Master’s Track: English-taught master’s degree in economics or public policy at a partner university in Japan; applicants must specify preferred university and review program “Skills to be Attained.”
- Partner programs and degrees:
  - National Graduate Institute for Policy Studies (GRIPS) — Macroeconomic Policy Program
    - One Year Program: Master of Public Policy or Master of Public Economics
    - Two Year Program: Master of Arts in Public Economics
  - Hitotsubashi University (HIT) — Asian Public Policy Program
    - Two Year Program: Master of Public Policy (Public Economics)
  - International University of Japan (IUJ) — Macroeconomic Policy Program
    - Two Year Program: Master of Arts in Economics
  - The University of Tokyo (UTokyo) — Master of Public Policy, International Program
    - Two Year Program: Master of Public Policy

### GRIPS — Program Focus and Course Structure
- Institutional notes:
  - Graduate school specializing in policy studies, established by the Japanese government in 1997; located in Roppongi, Tokyo.
  - Around 20% of the faculty and 70% of students come from outside of Japan.
  - The economics group at GRIPS was ranked second in Japan and eleventh among public policy schools in the world (RePEc, June 2024).
- Macroeconomic Policy Program (MEP):
  - One year MEP:
    - Requires 30 credits for graduation.
    - Grants Master of Public Policy or Master of Public Economics.
  - Two year MEP:
    - Requires 36 credits for graduation.
    - Grants Master of Arts in Public Economics.
  - Program emphasis: principles and theories of macroeconomics, analytical and quantitative methods, and macroeconomic policy analysis, design, and implementation.
- Representative required courses:
  - Microeconomics I; Macroeconomics I; Microeconomics II; Macroeconomics II; Introduction to Applied Econometrics; International Finance.
- Representative recommended/elective courses (selection): Monetary Economics (Money and Banking); Applied Time Series Analysis for Macroeconomics; Public Finance; Theory and Practice of Central Banking: Japanese and Global Experience; Introduction to Data Science; Advanced Macroeconomics I-IV; Advanced Econometrics I-IV; among others.

### Hitotsubashi University — APPP Summary and Courses
- Institutional profile:
  - Founded in 1875; leading university in economics and business in Japan; enrollment approximately 6,000; faculty and staff over 550.
- Asian Public Policy Program (APPP), School of International and Public Policy:
  - Two-year program leading to Master of Public Policy (Public Economics).
  - Targets young professionals in Asian governments, central banks, and policy-related organizations.
  - Small class sizes (at most around 15); each full-time faculty supervises around 4 students per annual intake.
  - Strong focus on economic policy with required and elective courses structured around economics and policy applications.
- Representative required courses (selection):
  - Microeconomics for Public Policy*; Macroeconomics: Theory and Policy*; Fundamentals of Econometric Methods I*, II*; Economics of Public Sector I*, II*; Seminar Work (Seminar I-I*, Seminar I-II*, Seminar II-I*, Seminar II-II*); Thesis Writing Tutorial; English Thesis Writing I*, II*.
- Representative electives and joint courses (selection):
  - Fiscal Policy; Tax Policy I and II; Fiscal Decentralization and Local Government Finance; Monetary and Financial Policy; Central Banking; Financial Programming for Macroeconomic Policy Formulation**; Data Science in Practice; Finance Theory and Data Analytics: Applications to Public Policy**.
- Notes:
  - Courses marked * are compulsory for registration; ** are strongly recommended courses.

### IUJ and UTokyo — Program Summaries and Course Offerings
- IUJ Macroeconomic Policy Program (MPP):
  - Two-year program providing rigorous training in principles of economics and policy applications; designed for government officials.
  - IUJ course examples: Microeconomics I: Price Theory; Microeconomics II: Strategic Behavior and Information Analysis; Macroeconomics I: Income Theory; Macroeconomics II: Business Cycle and Growth Theory; Monetary Economics and Policy Analysis; Econometrics; International Finance; Public Finance and Public Finance Advanced; Macroeconomic Modeling and Forecasting; Data Analysis and Machine Learning; Research Methods.
  - Note: The maximum number of credits of language courses which can be counted towards required credit for graduation is 2.
- UTokyo Master of Public Policy, International Program (MPP/IP), Economic Policy, Finance and Development (EPFD) stream:
  - Program length: two-year program taught entirely in English, launched in October 2010.
  - Degree requirement: Students complete a minimum of 46 credits over two years, combining core coursework, case studies (minimum 8 credits), practical training (minimum 4 credits), and electives.
  - Example course categories: Economic Policy and Finance; Development Economics; Public Policy and Global Development; Data and Applied Policy Analysis (e.g., Data Science for Public Policy).

### Orientation Program (OP), Activities, and Networking
- Orientation Program (OP):
  - Mandatory for all newly accepted JISPA scholars.
  - Timing: from early-July to mid-September, just before the academic year begins.
  - Location: International University of Japan in Niigata.
  - Components: foundational courses in academic English, mathematics, introductory econometrics and economics, and Japanese language; lectures on cross-cultural understanding and Japan’s modernization; a field trip; lectures by IMF staff on the Fund’s role and operations; extracurricular activities.
  - Residential requirement: scholars are requested not to bring family members during the OP; prior university approval required to bring family after the OP.
- IMF-OAP managed activities:
  - Annual welcome and farewell receptions including officials from the Ministry of Finance, Bank of Japan and relevant embassies.
  - Townhall Meetings with IMF Management (recently with Managing Director Kristalina Georgieva and Deputy Managing Director Nigel Clarke).
  - Policy Dialogues with Japanese policymakers and IMF economists.
  - Summer Workshop for scholars finishing their first year.
  - Thesis Presentation events.
  - OAP Seminars and Conferences with scholar observer invitations to high-level regional conferences and regional seminars.
  - Partner university field trips to industrial sites, government offices, and cultural landmarks.
  - Alumni activities including CE program, alumni gatherings, online network, and closed LinkedIn group.

### Application for AY 2027-28 — Eligibility, Requirements, and Timeline
- Application Window: SEPTEMBER 15 - OCTOBER 20, 2026.
- Submission due date for reference letters: November 1, 2026.
- Nationality eligibility: nationals of Bangladesh, Bhutan, Cambodia, India, Indonesia, Kazakhstan, Kyrgyz Republic, Lao P.D.R., Malaysia, Maldives, Mongolia, Nepal, Pacific Island Countries, Papua New Guinea, Philippines, Sri Lanka, Tajikistan, Thailand, Timor-Leste, Turkmenistan, Uzbekistan and Vietnam.
- Age and educational eligibility:
  - Under 36 years old.
  - Have not obtained a Master’s Degree from outside their own country.
  - Candidates must hold a Bachelor’s degree with 16 years of formal education.
- Work experience: Have a minimum of 2 years work experience in the public sector.
- Employment and nomination requirements:
  - Applicants must be employed by a central bank, ministry of economy, ministry of finance, ministry of planning/development, ministry of trade/commerce, tax administration, national statistics bureau, financial regulatory agencies, or similar government bodies.
  - Officials working in other government areas that significantly influence macroeconomic policy formulation or implementation may also be considered.
  - A strong nomination from the applicant’s agency is required, submitted as part of the application through a signed nomination and certification form confirming agency support and assurance of reinstatement upon completion.
- English proficiency:
  - Equivalent TOEFL iBT 79-80 or IELTS Overall 6.0.
  - Candidates from India, Philippines and select Pacific Island Countries are exempt from submitting proof of language ability.
- Commitment requirement: applicants must demonstrate a clear commitment to contributing to the development of their home country and, if selected, are required to return to their agency upon completion of their studies.
- Application materials:
  - Online Application Form; Nomination and Certification Form from the Agency; Statement of Purpose and Research Proposal; Official Transcripts and Certified Copies of Diplomas/Degree Certificates; Two Letters of Reference; TOEFL/IELTS certificate if available.

### Important Dates and Selection Schedule (Indicative)
- Application Window: September 15 - October 20, 2026
- November 1, 2026: Submission Due Date for Reference Letters
- Math test given to all eligible applicants: December 3, 2026
- Interviews with selected applicants: Late-January to Late-February, 2027
- Notifications to selected and reserved candidates: March 11, 2027
- Deadline to accept the scholarship: March 18, 2027
- Reserve or stand-by applicants are called, if necessary: March 19, 2027
- Visa application process: March-June, 2027
- JISPA Program Commences: July 2027
- Arrival in Japan for Orientation Program (OP): July 7-8, 2027
- Orientation Program (OP) at the International University of Japan: July 9 - September 22, 2027
- Moving to the University from the OP and Master’s Programs begin (by university):
  - GRIPS: September 23, 2027; classes begin October 1, 2027
  - Hitotsubashi: Early-September, 2027; classes begin Mid-September, 2027
  - IUJ: September 23, 2027; classes begin October 1, 2027
  - UTokyo: September 23, 2027; classes begin Late-September, 2027
- Note: HIT-JISPA scholars move to the university earlier, due to Hitotsubashi’s academic schedule. IUJ-JISPA scholars will remain at the IUJ.
- Statement: These dates are indicative, and subject to change.

### Scholarship Duration, Health, Conduct, and Family Policies
- Scholarship duration and renewal:
  - JISPA offers scholarships for both one-year and two-year master’s degree programs.
  - For one-year master’s programs, scholarship support is provided for the duration of the program.
  - For two-year master’s programs, scholarships are initially awarded for one year and will be renewed for the second year based on academic performance and university recommendation.
- Scholars with families:
  - No financial or logistical support is provided for family members, including visa application.
  - Scholars must obtain prior approval from the university to bring family.
  - All additional costs (travel, insurance, medical care, housing, etc.) are the scholar’s responsibility.
  - Scholars are requested not to bring family members during the OP; prior university approval required to bring family after the OP.
- Health requirements:
  - Scholars must be in good physical, mental, and emotional health.
  - Any health issues affecting studies must be immediately reported to the IMF Scholarship Manager and university.
  - A comprehensive medical examination must be completed before arrival in Japan; costs are covered by the fixed pre-arrival allowance.
  - Scholars must enroll in the insurance package designated by the host university; insurance covers most medical expenses, excluding those related to pre-existing conditions. Scholars will pay insurance premiums from their monthly stipend.
- Conduct:
  - Scholars must uphold the highest standards of conduct; full participation in academic courses and JISPA activities is required.
  - Scholars must maintain good academic standing and comply with university rules and Japanese law.
  - Violations may result in dismissal or loss of the scholarship.
  - After completing the program, scholars are required to return to their home agency and apply the knowledge and skills gained.
  - The “Scholars Guidelines and Code of Conduct” form is available through JISPA application channels.

### Contacts and Administration
- JISPA Secretariat contact at IMF-OAP: jispa@IMF.org
- Information as of June 2026: IMF Regional Office for Asia and the Pacific, 21F, Fukoku Seimei Bldg., 2-2-2 Uchisaiwai-cho, Chiyoda-ku, Tokyo 100-0011 Japan.
- Selected IMF field office contacts and resident representatives listed for Bangladesh, Cambodia, Indonesia, India, Lao PDR, Mongolia, Nepal, Kazakhstan, Kyrgyz Republic, Pacific Island Countries, Philippines, Sri Lanka, Tajikistan, Thailand, Uzbekistan, Vietnam.

*JISPA brochure (IMF-OAP). Information as of June 2026.*

### Introduction

### jispa-e-brochure - Introduction

### Overview
- Established in 1993 and generously funded by the Government of Japan, the Japan-IMF Scholarship Program for Asia (JISPA) is administered by the International Monetary Fund (IMF) as a strategic investment in the sound economic development of Asia and the Pacific.
- JISPA is designed specifically for officials from government agencies, including central banks, involved in macroeconomic policy formulation and implementation.
- Hosted by top-tier graduate institutions in Japan, the program provides rigorous academic and professional training in economics and related fields to strengthen institutional capacity across the region.

### Who Is JISPA Looking For?
- Target candidates: motivated officials whose applications are formally endorsed by their governmental agencies.
- Candidate profile: officials demonstrating a strong commitment to advancing their countries’ economic development and enhancing public welfare.
- Typical home agencies: central banks, ministries of finance, and other government agencies involved in macroeconomic policy formulation.

### Eligible Countries
- Bangladesh, Bhutan, Cambodia, India, Indonesia, Kazakhstan, Kyrgyz Republic, Lao P.D.R., Malaysia, Maldives, Mongolia, Nepal, Pacific Island Countries, Papua New Guinea, Philippines, Sri Lanka, Tajikistan, Thailand, Timor-Leste, Turkmenistan, Uzbekistan, and Vietnam.

### Scholarship Coverage
- The scholarship covers expenses for the scholar only.
- Scholars are not permitted to receive other scholarships concurrently with JISPA.
- Covered items:
  - Admission and tuition fees
  - Monthly stipend
  - Pre-arrival allowance (visa fees and medical exam) and settling-in allowance
  - Visa application
  - Housing
  - Insurance package
- Partner Universities offer assistance for:
  - Field-trip fees arranged by the partner university
  - Allowance for one round-trip economy airfare
  - Orientation Program fees

### Why JISPA? (Key Features)
- 1. Boutique Scholarship Program for Future Policymakers
  - Selective annual intake of around 35 scholars.
  - Small cohort forming a “JISPA family” for exchanging policy ideas and building lifelong professional networks across Asia and the Pacific.
- 2. Tailored, Solid Curriculum and Pastoral Care
  - Partner universities deliver specialized programs, with all courses conducted in English.
  - Curriculum blends economic theory and applied policy skills in macroeconomics, public management and quantitative methods.
- 3. Intensive Orientation Program
  - Pre-course intensive Orientation Program to strengthen foundations in English, mathematics, introductory economics and econometrics, and Japanese language.
- 4. Exclusive Access to IMF Expertise
  - Administered by the IMF’s Regional Office for Asia and the Pacific, providing direct engagement with IMF economists and senior management, including Managing Director and Deputy Managing Directors when opportunities arise.
  - Access to IMF-led learning opportunities that deepen understanding of IMF analytical frameworks.
- 5. Direct Exposure to Japanese Policymakers
  - Seminars and field visits involving direct engagement with the Ministry of Finance and the Bank of Japan.
- 6. Vibrant Networking Opportunities
  - Events include welcome and farewell receptions, summer workshops, seminars, and thesis presentations connecting scholars with peers, IMF experts, and Japanese policymakers.
- 7. Strong Alumni Network and Career Impact
  - Approximately 1,000 alumni across 20+ countries.
  - Alumni connected through an online platform and Continuing Education (CE) program; CE invites JISPA alumni to Japan for short-term training courses.

### The Master’s Track (Program Structure)
- The JISPA Master’s Track offers an English-taught master’s degree in economics or public policy at one of the IMF’s partner universities in Japan.
- Applicants must specify their preferred university in the application and are encouraged to review program content and the “Skills to be Attained” for each university.
- Partner programs and degrees:
  - National Graduate Institute for Policy Studies (GRIPS) — Macroeconomic Policy Program
    - One Year Program: Master of Public Policy or Master of Public Economics
    - Two Year Program: Master of Arts in Public Economics
  - Hitotsubashi University (HIT) — Asian Public Policy Program
    - Two Year Program: Master of Public Policy (Public Economics)
  - International University of Japan (IUJ) — Macroeconomic Policy Program
    - Two Year Program: Master of Arts in Economics
  - The University of Tokyo (UTokyo) — Master of Public Policy, International Program
    - Two Year Program: Master of Public Policy

### National Graduate Institute for Policy Studies (GRIPS) — Program Details
- GRIPS background:
  - Graduate school specializing in policy studies, established by the Japanese government in 1997.
  - Located in Roppongi, Tokyo.
  - Around 20% of the faculty and 70% of students come from outside of Japan.
  - The pedagogy is interdisciplinary, targeting future public-sector leaders.
  - The predecessor was the Graduate School of Policy Sciences established in 1977 at Saitama University.
  - Based on research outputs and impacts, the economics group at GRIPS was ranked second in Japan and eleventh among public policy schools in the world (RePEc, June 2024).
- Macroeconomic Policy Program (MEP) for JISPA scholars:
  - One year MEP:
    - Requires 30 credits for graduation.
    - Grants Master of Public Policy or Master of Public Economics.
    - Intended for qualified candidates with strong competency willing to complete an intensive one year program.
  - Two year MEP:
    - Requires 36 credits for graduation.
    - Grants Master of Arts in Public Economics.
    - Intended for candidates who have flexible working schedules, want more time for thesis writing, and aim to develop more advanced analytical skills.
  - Program focus:
    - Professionally oriented training for modern macroeconomic policy makers.
    - Emphasis on principles and theories of macroeconomics, analytical and quantitative methods, and macroeconomic policy analysis, design, and implementation.
  - The MEP developed from the Transition Economy Program, a partner of JISPA since the inception of the scholarship program.

### GRIPS — Representative Course Listings
- Required courses:
  - Microeconomics I
  - Macroeconomics I
  - Microeconomics II
  - Macroeconomics II
  - Introduction to Applied Econometrics
  - International Finance
- Recommended courses and electives (selection):
  - Monetary Economics (Money and Banking)
  - Economic Development of Southeast Asia
  - Government and Market
  - Applied Time Series Analysis for Macroeconomics
  - Applied Econometrics
  - Applied Econometrics Practice
  - Trade and Industrial Development
  - Game Theory
  - Mathematics for Economic Analysis
  - Public Finance
  - Political Economy
  - Fiscal Reform in Japan
  - Economics of Tax Policy
  - Reform of Economic Policy in Japan
  - Economics of Law
  - Competition and Regulatory Economics
  - International Trade
  - Theory and Practice of Central Banking: Japanese and Global Experience
  - Environmental Economics
  - Resource and Energy Economics
  - Contemporary Japanese Economy
  - Japanese Economy
  - Financial Economics
  - Time Series Analysis
  - Cost Benefit Analysis I
  - Economic Modeling for Policy Simulations
  - Economic Development of Japan
  - Economic Development Based on ADB Experiences
  - Development Economics
  - Development History of Asia: Policy, Market and Technology
  - Economic History and Institutions
  - Computer Programming for Economics
  - Public Expenditure Management
  - Modernization of Financial Sector: Lessons from Recent Financial Crises
  - Introduction to Data Science
  - Data Science for Public Policy
  - East Asian Economies
  - Social Issue Workshop: Lessons from Japanese Experiences
  - Social Issue Workshop for Business-Driven Innovation
  - Workshop on Policymaking for Sustainable Development
  - Cybersecurity
  - Responding to Global Challenges
  - States and Economies in the Indo-Pacific
  - Advanced Microeconomics I-IV
  - Advanced Macroeconomics I-IV
  - Advanced Econometrics I-IV

### Hitotsubashi University — Program Summary
- Institutional profile:
  - Founded in 1875; leading university in economics and business in Japan.
  - Five departments and seven graduate schools covering business, economics, law, social sciences, and social data sciences.
  - Enrollment of approximately 6,000 undergraduate and graduate students; faculty and staff of over 550.
- Asian Public Policy Program (APPP), School of International and Public Policy:
  - Two-year program leading to Master of Public Policy (Public Economics).
  - Targets young professionals in Asian governments, central banks, and policy-related organizations.
  - Strong focus on economic policy; almost all required and elective courses structured around economics and policy applications.
  - Small class sizes (at most around 15); each full-time faculty supervises around 4 students per annual intake.
  - Program aims to equip graduates with knowledge and skills to analyze and develop policies based on economic theory.

### Hitotsubashi — Representative Course Listings
- Required courses (selection):
  - Microeconomics for Public Policy* 
  - Macroeconomics: Theory and Policy*
  - Fundamentals of Econometric Methods I*
  - Fundamentals of Econometric Methods II*
  - Economics of Public Sector I*
  - Economics of Public Sector II*
  - Seminar Work: required for graduation (Seminar I-I*, Seminar I-II*, Seminar II-I*, Seminar II-II*)
  - Thesis Writing Tutorial; English Thesis Writing I*, English Thesis Writing II*
- Electives and joint courses (selection):
  - Fiscal Policy
  - Economic Analysis of Tax Systems
  - Tax Policy I: Tax Policy and Systems
  - Tax Policy II: International Taxation
  - Fiscal Decentralization and Local Government Finance
  - Field Research on Tax Administration
  - Monetary and Financial Policy
  - Current Issues in International Economy and Finance
  - Financial Sector Reform and Development
  - Central Banking
  - Asian Economic Development and Integration**
  - Regional Financial Arrangements and Economic Surveillance in East Asia
  - Public Sector Policy
  - Economic Analysis of Public Investments
  - Economic Analysis of Regulation and Public Enterprise
  - Economic Analysis of Social Policy
  - Economic Analysis of Social Security Systems
  - Japan’s Foreign Policy Making I
  - Japan’s Fiscal and Monetary Policy Making Workshop on Current Topics*
  - Financial Programming for Macroeconomic Policy Formulation**
  - ESG Investing and SGDs
  - Issues on Public Policy series (I–X) with topics including Macroeconomic Time Series Analysis**, Sustainable Finance and ESG Investing, Contemporary Macroeconomic Issues on Global Economy and EM Asia**, Data Science in Practice, Building More Inclusive Financial Systems: Microfinance and SME Finance**, Finance Theory and Data Analytics: Applications to Public Policy**
- Notes:
  - Students who wish to pursue doctoral studies may take advanced courses offered by the Graduate School of Economics or other graduate schools at Hitotsubashi University.
  - Courses marked * are compulsory for registration; ** are strongly recommended courses.

### International University of Japan (IUJ) — Profile (beginning)
- IUJ background:
  - Founded in 1982 with extensive support from Japanese industrial, financial, and educational communities and Minami-Uonuma City in Niigata prefecture.
  - Consists of two graduate schools: Graduate School of International Relations (GSIR) and Graduate School of International Management (GSIM).
  - GSIR offers seven Master’s degrees including Master of Arts in Economics.
  - Student body comprises about 391 students representing about 67 countries.

*Source: Japan-IMF Scholarship Program for Asia (JISPA) — Introduction.*

### 2015. Targeting future leaders in international

### jispa-e-brochure - 2015. Targeting future leaders in international

### Program objectives and target participants
- The PhD Program aims at fostering high level professionals playing an important role in international arena with theoretical, analytical, and practical abilities as well as fostering researchers to operate effectively in international society.
- The Macroeconomic Policy Program (MPP) for JISPA scholars at the International University of Japan (IUJ) is a two-year program providing rigorous training in the principles of economics and their applications in policy analyses.
- The MPP’s objective is to equip scholars with a comprehensive understanding of contemporary macroeconomic issues and to help scholars contribute to sustainable economic growth and development in Asia and the Pacific.
- The MPP curriculum is designed especially for government officials from ministries of finance, central banks, and other public institutions, emphasizing:
  - macroeconomic policy formulation and public finance,
  - central banking and monetary policy,
  - financial market policy,
  - human capacity building of such organizations.

### Course offerings and degree requirements (IUJ and UTokyo)
- IUJ course listings include (selected examples):
  - Microeconomics I: Price Theory
  - Microeconomics II: Strategic Behavior and Information Analysis
  - Macroeconomics I: Income Theory
  - Macroeconomics II: Business Cycle and Growth Theory
  - Monetary Economics and Policy Analysis
  - Econometrics
  - International Finance
  - Public Finance and Public Finance Advanced
  - Macroeconomic Modeling and Forecasting
  - Data Analysis and Machine Learning
  - Research Methods
  - Required Courses; Recommended Courses and Electives
  - Note: The maximum number of credits of language courses which can be counted towards required credit for graduation is 2.
- University of Tokyo (UTokyo) Master of Public Policy, International Program (MPP/IP) — Economic Policy, Finance and Development (EPFD) stream (JISPA scholars enrolled in EPFD):
  - Program length: two-year program taught entirely in English, launched in October 2010.
  - Core areas: Economics (Microeconomics and Macroeconomics), Quantitative Methods (Econometrics and Statistical Methods), Public Policy and Governance, International Relations, Law and Public Policy.
  - Degree requirement: Students complete a minimum of 46 credits over two years, combining core coursework, case studies (minimum 8 credits), practical training (minimum 4 credits), and electives.
  - Example course categories and titles:
    - Economic Policy and Finance: International Financial Policy; Central Banking; Global Financial Market, Institutions, and Regulations; Financial System; Monetary Policy; Economic Crisis; Advanced Time Series Analysis; Case Study (Financial, Fiscal, and Monetary Policies).
    - Development Economics: Development Economics: Microeconomic Approach; Development Economics: Macroeconomic Approach; Foundations of Development Economics; Contemporary Issues in Development Economics; Interdisciplinary Issues in Development Economics; Asian Economic Development and Integration.
    - Public Policy and Global Development: Governance and Development; Economic Analysis of Public Sector; International Trade; International Trade Policy; Japan’s Modernization Experience and Its ODA Policy; International Organizations for Sustainable Development; Topics in Political Economics.
    - Data and Applied Policy Analysis: Data Science for Public Policy; Case Study (Development Economics and Policy); Case Study (Japanese Macroeconomic Policy).

### Orientation Program (OP)
- The Orientation Program (OP) is mandatory for all newly accepted JISPA scholars.
- OP timing: from early-July to mid-September, just before the academic year begins.
- OP location: International University of Japan in Niigata.
- OP components:
  - foundational courses in academic English, mathematics, introductory econometrics and economics, and Japanese language;
  - lectures on cross-cultural understanding and Japan’s modernization;
  - a field trip to deepen contextual learning;
  - lectures by IMF staff on the Fund’s role and operations;
  - extracurricular activities organized by the host institution to foster camaraderie.
- OP residential learning environment requirement: scholars are requested not to bring family members during the OP; scholars must obtain prior approval from their respective universities to bring family after the OP.

### Activities and networking opportunities managed by IMF-OAP
- Networking:
  - annual welcome and farewell receptions that include officials from the Ministry of Finance, Bank of Japan and relevant embassies.
- Seminars and workshops:
  - Townhall Meetings with IMF Management (recently with Managing Director Kristalina Georgieva and Deputy Managing Director Nigel Clarke).
  - Policy Dialogues with Japanese policymakers and IMF economists.
  - Summer Workshop for scholars finishing their first year to enhance knowledge of the IMF’s functions and analysis.
  - Thesis Presentation where representative scholars present thesis research.
  - OAP Seminars and Conferences: scholars invited as observers to high-level regional conferences and regional seminars on macroeconomic and financial policy issues organized by OAP.
- Field Trips: each partner university organizes an annual field trip visiting industrial sites, government offices, and cultural landmarks.
- Alumni Activities:
  - JISPA Continuing Education (CE) program invites alumni with four plus years of additional work experience after graduation to return to Japan for a two-week course.
  - JISPA organizes alumni gatherings in target countries, maintains an online network and closed LinkedIn group.

### Application for AY 2027-28: eligibility, requirements, and timeline
- Application Window: SEPTEMBER 15 - OCTOBER 20, 2026.
- Submission due date for reference letters: November 1, 2026.
- Nationality eligibility: nationals of Bangladesh, Bhutan, Cambodia, India, Indonesia, Kazakhstan, Kyrgyz Republic, Lao P.D.R., Malaysia, Maldives, Mongolia, Nepal, Pacific Island Countries, Papua New Guinea, Philippines, Sri Lanka, Tajikistan, Thailand, Timor-Leste, Turkmenistan, Uzbekistan and Vietnam.
- Age and educational eligibility:
  - Under 36 years old.
  - Have not obtained a Master’s Degree from outside their own country.
  - Candidates must hold a Bachelor’s degree with 16 years of formal education.
- Work experience: Have a minimum of 2 years work experience in the public sector.
- Employment and nomination requirements:
  - Applicants must be employed by a central bank, ministry of economy, ministry of finance, ministry of planning/development, ministry of trade/commerce, tax administration, national statistics bureau, financial regulatory agencies, or similar government bodies.
  - Officials working in other government areas that significantly influence macroeconomic policy formulation or implementation may also be considered.
  - A strong nomination from the applicant’s agency is required, submitted as part of the application through a signed nomination and certification form confirming agency support and assurance of reinstatement upon completion.
- English proficiency:
  - Equivalent TOEFL iBT 79-80 or IELTS Overall 6.0.
  - Candidates from India, Philippines and select Pacific Island Countries are exempt from submitting proof of language ability.
- Commitment requirement: applicants must demonstrate a clear commitment to contributing to the development of their home country and, if selected, are required to return to their agency upon completion of their studies.
- Application materials:
  - Online Application Form
  - Nomination and Certification Form from the Agency
  - Statement of Purpose and Research Proposal
  - Official Transcripts and Certified Copies of Diplomas/Degree Certificates
  - Two Letters of Reference
  - TOEFL/IELTS certificate if available

### Important dates and selection schedule (indicative)
- Application Window: September 15 - October 20, 2026
- November 1, 2026: Submission Due Date for Reference Letters
- Math test given to all eligible applicants: December 3, 2026
- Interviews with selected applicants: Late-January to Late-February, 2027
- Notifications to selected and reserved candidates: March 11, 2027
- Deadline to accept the scholarship: March 18, 2027
- Reserve or stand-by applicants are called, if necessary: March 19, 2027
- Visa application process: March-June, 2027
- JISPA Program Commences: July 2027
- Arrival in Japan for Orientation Program (OP): July 7-8, 2027
- Orientation Program (OP) at the International University of Japan: July 9 - September 22, 2027
- Moving to the University from the OP and Master’s Programs begin (by university):
  - GRIPS: September 23, 2027; classes begin October 1, 2027
  - Hitotsubashi: Early-September, 2027; classes begin Mid-September, 2027
  - IUJ: September 23, 2027; classes begin October 1, 2027
  - UTokyo: September 23, 2027; classes begin Late-September, 2027
- Note: HIT-JISPA scholars move to the university earlier, due to Hitotsubashi’s academic schedule. IUJ-JISPA scholars will remain at the IUJ.
- Statement: These dates are indicative, and subject to change.

### Scholarship duration, renewal, health, conduct, and family policies
- Scholarship duration and renewal:
  - JISPA offers scholarships for both one-year and two-year master’s degree programs at its partner universities.
  - For one-year master’s programs, scholarship support is provided for the duration of the program.
  - For two-year master’s programs, scholarships are initially awarded for one year and will be renewed for the second year based on academic performance and university recommendation.
- Scholars with families:
  - No financial or logistical support is provided for family members, including visa application.
  - Scholars must obtain prior approval from the university to bring family.
  - All additional costs (travel, insurance, medical care, housing, etc.) are the scholar’s responsibility.
  - Scholars are requested not to bring family members during the OP; prior university approval required to bring family after the OP.
- Health requirements:
  - Scholars must be in good physical, mental, and emotional health.
  - Any health issues affecting studies must be immediately reported to the IMF Scholarship Manager and university.
  - A comprehensive medical examination must be completed before arrival in Japan; costs are covered by the fixed pre-arrival allowance.
  - Scholars must enroll in the insurance package designated by the host university; insurance covers most medical expenses, excluding those related to pre-existing conditions. Scholars will pay insurance premiums from their monthly stipend.
- Scholarship conduct policies:
  - Scholars must uphold the highest standards of conduct, conduct themselves professionally with courtesy, integrity, and respect for others.
  - Full participation in academic courses and JISPA activities is required.
  - Scholars must maintain good academic standing and comply with university rules and Japanese law.
  - Violations may result in dismissal or loss of the scholarship.
  - After completing the program, scholars are required to return to their home agency and apply the knowledge and skills gained.
  - The “Scholars Guidelines and Code of Conduct” form is available on the JISPA website.

### Contacts and program administration
- JISPA Secretariat contact at IMF-OAP: jispa@IMF.org
- Information as of June 2026: IMF Regional Office for Asia and the Pacific, 21F, Fukoku Seimei Bldg., 2-2-2 Uchisaiwai-cho, Chiyoda-ku, Tokyo 100-0011 Japan.
- Selected IMF field office contacts and resident representatives listed for Bangladesh, Cambodia, Indonesia, India, Lao PDR, Mongolia, Nepal, Kazakhstan, Kyrgyz Republic, Pacific Island Countries, Philippines, Sri Lanka, Tajikistan, Thailand, Uzbekistan, Vietnam.
- Web references contained in source:
  - IUJ Macroeconomic Policy Program: https://www.iuj.ac.jp/academics/gsir/programs/idp/mpp.html
  - IUJ brochure download materials reference
  - UTokyo MPP/IP: https://www.pp.u-tokyo.ac.jp/en/mppip/
  - JISPA application and guidelines: https://www.imf.org/en/countries/resrep/oap-home/jispa-home

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_Source: https://www.imf.org/-/media/files/oap/jispa/jispa-e-brochure.pdf_