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f Macroeconomic Management in Resource-Rich Countries

Macroeconomic Management in Resource Rich Countries (MRC)

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Session No.: JV 22.31

Location: Vienna, Austria

Date: September 19-30, 2022 (2 weeks)

Primary Language: English

Interpretation Language: Russian

    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).

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    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.

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    Course Description

    "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."

    This course, presented by the Institute for Capacity Development, 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.

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    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, 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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