Training Program
Macroeconomic Foundation Course for General Inductees of Royal Monetary Authority
Invitation
Session No.: SA 24.26
Location: Thimpu, Bhutan
Date: August 5-9, 2024 (1 week)
Delivery Method: In-person Training
Primary Language: English
Target Audience
Mid-level to senior officials in RMA 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.
Course Description
This course provides new inductees into the RMA's general stream with a broad understanding of macroeconomic tools used to assess a country's macroeconomic situation. The program covers the current state of the economy; the stance of fiscal and monetary policy; financial stability; exchange rate misalignments; vulnerabilities in the different sectors; and the medium-term outlook, especially the sustainability of public debt. Throughout the course, these concepts are applied to Bhutan to illustrate its current macroeconomic opportunities and challenges, and to demonstrate practical tools for use in day-to-day macroeconomic analysis and policy making.
Course Objectives
Upon completion of this course, participants should be able to:
- Analyze economic and financial developments of a country in the region using historical data and a 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.
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