REGIONAL OFFICE FOR ASIA AND THE PACIFIC (OAP)

NEWS from Asia and the Pacific

University Students Emulate IMF’s Economic Surveillance at Workshop in Kyushu

University students carefully listen to the lecture on the Macroeconomic Framework of the IMF during the 6th Macroeconomist Training Program in Fukuoka.

March 8, 2019, Fukuoka – University students enjoyed a macroeconomic training workshop organized by the IMF Regional Office for Asia and the Pacific (OAP) for the first time in Fukuoka, emulating the IMF’s economic surveillance for the last two days.

Twenty-three students – 19 Japanese and four foreigners – from undergraduate and graduate programs participated in the two-day overnight workshop on 7-8 March where IMF economists and a consultant provided briefings and lectures on the role of the IMF and on part of its core work, namely the economic surveillance of member countries.

Kicking off the program, OAP Director Chikahisa Sumi delivered the opening speech, followed by an introductory presentation by OAP Economist Takuya Kamoshida. During the main sessions, Dr. Shogo Ishii, former Director of OAP and IMF consultant, delivered lectures on an overview of how the IMF analyzes macroeconomic issues and shared his personal experiences conducting surveillance.

The highlight of the workshop came following the lectures on the methods and tools of IMF surveillance. By the end of the first day, the students were grouped into four and tasked to analyze the economy of Lao PDR. Using the newly learnt tools, the students emulated IMF economists to identify potential risks to the baseline scenario, formulate policy recommendations, and assess an alternative scenario. Many groups stayed up late at night to form each group’s views, as if on an IMF mission. On the second day, all participants took turns to deliver their presentation, and actively exchanged their views and comments on others’ presentations.

The workshop was the 6^th edition of the Macroeconomist Training Program under the OAP’s Initiative for Macroeconomists of the Future. It was organized in collaboration with the Japan International Cooperation Agency (JICA). This was the first of the series to be held in Kyushu, and only the second outside of Tokyo.

The initiative was launched in summer 2017 as part of OAP’s efforts to reach out to wider audiences, in particular to youth, to raise awareness of the IMF’s work and to foster future economists. Increasing in popularity, it is organized regularly and has already welcomed more than a hundred participants. The next edition is expected to be held in summer 2019.