Macroeconomic Management in Resource Rich Countries

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Macroeconomic Management in Resource Rich Countries (MRC)

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Session No.: AT 24.03

Location: Ebene, Mauritius

Date: February 12-23, 2024 (2 weeks)

Delivery Method: Blended Training

Primary Language: English

Interpretation Language: French Portuguese

Target Audience

Mid-level to senior officials from central banks, ministries of finance, and other government agencies tasked with the design and execution of policies in resource-rich countries (RRCs).

Qualifications

Participants are expected to have an advanced degree in economics or equivalent experience and be proficient in the use of Microsoft Excel. It is strongly recommended that applicants first complete the online Macroeconomic Management in Resource-Rich Countries (MRCx) course. Participants will also be required to complete an online foundational module (about 5-hours of self-paced learning), supported by virtual office hours with counselors.

Course Description

This course discusses macroeconomic policy issues and challenges faced by RRCs. The course provides participants with an understanding of: the macroeconomics of growth and diversification, fiscal policy management, macroeconomic policy coordination, and public-sector asset management in RRCs. The course incorporates lectures, hands-on workshops, debates, and case studies.

Course Objectives

Upon completion of this course, participants should be able to:

Analyze economic performance in resource-rich countries, including in terms of growth, inclusiveness, diversification, and sustainability.
Design appropriate fiscal frameworks, applying suitable fiscal benchmarks to determine whether to consume, save, and/or invest the proceeds from the sale of natural resources.
Identify the appropriate macroeconomic policy responses to commodity price shocks.
Design policies to promote transparency in the management of natural resources, including in terms of the appropriate institutional structures for sovereign wealth funds.

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