Training Program Course
Financial Development and Financial Inclusion (FDFI)
This course explains the macroeconomic relevance of financial development and inclusion. Beginning with an analysis that defines the role of finance in the economy, the course presents the main measures of financial development and an analytical framework, highlighting the frictions or obstacles that could impede financial development as well as policies that encourage it. The course introduces financial inclusion as an integral dimension of financial development and reviews the measures of financial inclusion, its macroeconomic impact, and the main policy strategies usually pursued. The course includes case studies, group work and workshops to ensure that participants gain practical experience in applying the course concepts and tools.
Target Audience
Mid-level to senior officials from central banks and government agencies dealing with financial sector issues. Preference is given to applicants working on the promotion of financial development and inclusion.
Qualifications
Participants are expected to have a basic knowledge of economics or finance, or equivalent work experience. Knowledge of econometrics is helpful but not required.
Course Objectives
Upon completion of this course, participants should be able to:
- Identify the main functions that finance plays in the macroeconomy.
- Measure the degree of financial development and inclusion for a country or countries using a wide range of standard indicators.
- Use a simple analytical model to predict the likely outcomes of different policies on financial inclusion and how it ultimately affects the macroeconomy.
- Assess policy options and strategies for financial development and inclusion from a macroeconomic perspective by identifying potential tradeoffs and possible impediments.
- Formulate a strategy for policies to support financial development in a country, taking into account initial conditions and links between the financial sector and the macroeconomy.
Syllabus
This two-week course outlines the macroeconomic relevance of financial development broadly, and of financial inclusion more specifically. Beginning with an analytical framework that defines the role played by finance in the economy, the course reviews the conceptual and empirical literature on finance’s impact and addresses key policy issues that arise in either encouraging its development (market enabling policies) or limiting its destabilizing effects (market harnessing policies).
The course introduces financial inclusion as an integral dimension of financial development, but which only recently has received much attention, as the discussion for many years has mainly revolved around the concept and measure of financial depth. The course reviews the indicators currently used to measure financial inclusion, the distinct macroeconomic impact of financial inclusion, as well as the main policy strategies that have been pursued.
Upcoming Offering
| Start date | End date | Location | Delivery Method | Session No. | Primary & (Interpretation) language | Apply |
|---|---|---|---|---|---|---|
| May 25, 2026 | June 5, 2026 | Vienna, Austria | In-person Training | JV 26.16 | English | Apply online by February 22, 2026 |