Macroeconometric Forecasting (MFx)

Source details

All government officials are welcome to register.
Particularly relevant for officials involved in developing forecasts that are used to design and implement macroeconomic policy.
The course is offered in English.

Session No.: OL 24.181
Deadline passed
Location: Course conducted online
Date: May 1, 2024 - August 31, 2024 (18 weeks)
Delivery Method: Online Training
Primary Language: English
Access requirements:
- Background in undergraduate statistics and basic econometrics is expected.
- Access to a computer with a reliable Internet connection and a Google Chrome web browser is essential.
- Demonstrations and applications are conducted using EViews – a popular software for estimating and simulating forecasting models in Windows.
- Temporary licenses for EViews are made available for the duration of the course.

Presented by the Institute for Capacity Development.
Designed to reinforce macroeconomic forecasting and modeling skills and the use of modern econometric techniques.
Lectures discuss the underlying theory and demonstrations show how to conduct empirical analyses using EViews.
Focuses on four aspects of empirical model building and forecasting:
- Data and model properties, such as stationarity/non-stationarity and co-integration.
- Dynamic specifications, especially the use of error correction models.
- Model evaluation, design, and simulation.
- Forecast uncertainty and policy analysis.

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

Forecast time series and multiple equation models using EViews.
Assess the statistical characteristics of time series and apply appropriate methods for forecasting.
Construct a macroeconometric model using ARMA, VAR, and VECM methods.
Use a variety of statistical techniques to evaluate the performance of a forecasting model.