Foundation Training for the Reserve Bank of India

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Foundation Training for the Reserve Bank of India

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Bibliographic details

• Session: SA 24.06
• Location: Mumbai, India
• Dates: January 8-19, 2024 (2 weeks)
• Delivery method: In-person Training
• Primary language: English

Program details

• Session No.: SA 24.06
• Location: Mumbai, India
• Date: January 8-19, 2024 (2 weeks)
• Delivery Method: In-person Training
• Primary Language: English
• Qualifications: Participants are expected to have an advanced degree in economics or equivalent experience and be comfortable using Microsoft Excel and MATLAB.
• Target Audience:
  • Junior officials recently joined the Reserve Bank of India
  • Fresh graduates with adequate quantitative methods background interested in understanding and analyzing the conduct of monetary policy and its interaction with the rest of the economy

Course description and content

• Designed for the junior officers of the Reserve Bank of India to provide a comprehensive overview of:
  • Monetary policy regimes and transmission mechanisms
  • The role of monetary policy in macroeconomic stabilization
  • Basic monetary policy models
• Bridges theory, empirical evidence, and operational experience by:
  • Illustrating optimization problems and tradeoffs in monetary policy
  • Guiding participants through basic concepts, quantitative methods, and hands-on workshops with applications of economic models
  • Presenting case studies that illustrate various experiences to reinforce understanding of basic monetary policy concepts

Course objectives and expected competencies

• Upon completing the course, participants should be able to:
  • Analyze how monetary policy decisions are made under various regimes to deliver price stability
  • Identify and model how these decisions are transmitted to the real economy
  • Evaluate and demonstrate with quantitative methods how the economy and monetary policy respond to macroeconomic shocks under various monetary policy frameworks, illustrated through a group presentation to their peers
  • Design a sound monetary policy framework as central bank practitioners
  • Prescribe policies consistent with the framework chosen

Additional note

• IMF offers online training to government officials and the public. Click Learn more to find our current offerings.

References

• In-person Training
• Supply and Use Tables and Input Output Tables
• Macroeconomic Management in Resource Rich Countries (MRC)
• Fiscal Policy Analysis (FPA)