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Macroeconomic Management in Resource-Rich Countries

Macroeconomic Management in Resource-Rich Countries (MRCx)

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Session No.: OL 19.113

Location: Course conducted online

Date: January 15, 2019 - April 30, 2019 (15 weeks)

Primary Language: English

    Target Audience

    All government officials are welcome to register. The course is particularly useful for officials from central banks, ministries of finance, and other government agencies involved in the design and execution of policies in resource-rich countries (RRCs). The course is offered in English and French.
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    Qualifications

    Some knowledge of economics would be helpful. Basic Excel skills and access to a computer with a reliable Internet connection and a Google Chrome web browser are essential.
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    Course Description

    This online course, presented by the IMF Institute for Capacity Development and the IMF Fiscal Affairs and Statistics Departments, discusses macroeconomic policy issues and challenges that confront RRCs.

     

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    Course Objectives

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

    • Assess how economic performance might differ in RRCs and in other countries in terms, e.g., of growth, inclusive growth, political economy, resource curse, diversification, and Dutch disease.
    • Apply simple fiscal rules to determine how much to extract, consume, and save from the sale of natural resource sand modalities for savings, such as a sovereign wealth fund.
    • Design a framework with clear objectives and priorities that delivers long-run fiscal sustainability and addresses commodity price volatility, with a supporting role for the public sector on the fiscal regime and government spending.
    • Identify appropriate macroeconomic policy responses to commodity price shocks.
    • Assess the pros and cons of policies to promote diversity and transparency in the management of natural resources.
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