Macroeconomic Issues for Reserve Bank of India Senior Officers

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Target Audience: Mid-level to senior officials in RBI who are directly involved in diagnosing the state of the macroeconomy and making projections.
Qualifications: A background in economics would be useful but not essential.

Purpose: Provide senior officers of the Reserve Bank of India (RBI) a broad understanding of macroeconomic issues and tools used to assess the economic situation.
Focus: Strengthen participants' ability to assess a country's macroeconomic situation, including:
- the current state of the economy;
- the stance of fiscal and monetary policy;
- financial stability; and
- the sustainability of public debt.
Application: Concepts applied to India to illustrate current macroeconomic opportunities and challenges and to demonstrate practical tools for day-to-day macroeconomic analysis and policy making.

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

Analyze economic and financial developments of a country in the region using historical data and hands-on, Excel-based tools.
Analyze potential output and calculate output gaps, and diagnose the outlook for the economy.
Assess the stance of current fiscal, monetary and exchange rate, and financial policies.
Assess macro-financial linkages, including through the analysis of financial sector soundness indicators.
Assess the medium-term prospects of the economy, especially the sustainability of public and external debt, and identify impediments to long-term growth.
Identify possible risks and vulnerabilities to economic growth and identify policies to address them.