Macroeconomic Management in Resource Rich Countries (MRC)
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Bibliographic details
- Session: JV 22.31
- Location: Vienna, Austria
- Dates: September 19-30, 2022 (2 weeks)
- Delivery method: In-person Training
- Primary language: English
- Interpretation language: Russian
- Status: Deadline passed
Program overview
- Training Program presented by the Institute for Capacity Development.
- Session No.: JV 22.31.
- Location: Vienna, Austria.
- Date: September 19-30, 2022 (2 weeks).
- Delivery Method: In-person Training.
- Primary Language: English.
- Interpretation Language: Russian.
- Deadline passed.
Target audience and qualifications
- 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.
- Proficiency in the use of Microsoft Excel is required.
- It is strongly recommended that applicants first complete the online Macroeconomic Management in Resource-Rich Countries (MRCx) course.
Course delivery note (COVID-19)
- "Disclosure: Due to COVID 19, courses will be delivered in person, hybrid, or virtual, according to safety guidelines. As of today, this course is scheduled to be delivered in person in Vienna, but its delivery method may change. By submitting your application, you confirm your availability to participate in the course either in person or virtually. Up-to-date Covid-19 vaccination is likely to be required and related information may be requested from participants for in-person courses."
Course description and pedagogical approach
- The course discusses macroeconomic policy issues and challenges faced by resource-rich countries (RRCs).
- The course incorporates lectures, hands-on workshops, debates, and case studies.
- Core thematic coverage includes:
- The macroeconomics of growth and diversification in RRCs.
- Fiscal policy management in the context of resource revenues.
- Macroeconomic policy coordination.
- Public-sector asset management in RRCs.
Course objectives (learning outcomes)
Upon completion of the 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, 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.