Monetary Policy (MP)
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- Monetary Policy (MP)
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Bibliographic details
- Published: July 24, 2025
Upcoming offerings
| Start date | End date | Location | Delivery Method | Session No. | Primary & (Interpretation) language | Apply |
|---|---|---|---|---|---|---|
| March 22, 2027 | April 30, 2027 | Ebene, Mauritius | Virtual Training | AT 27.06V | English (French) | Apply online by February 12, 2027 |
Topic and Scope
- Topic: Monetary and External Sector Policies
- This course provides a comprehensive overview of monetary policy regimes, monetary transmission mechanisms, and the role of monetary policy in macroeconomic stabilization.
- Focuses on bridging theory, empirical evidence, and operational experience by illustrating tradeoffs involved in monetary policy decisions.
- Recognizes the evolving nature of monetary frameworks and central bank mandates, including recent crises that have changed central bank operating environments beyond simple interest rate policies.
- Includes coverage of Unconventional Monetary Policy, central bank communication, and recent evolution of central bank digital currencies and their implications for monetary policy transmission and operations.
Target Audience and Qualifications
- Target Audience:
- Junior to mid-level officials from emerging markets and low-income countries interested in understanding the conduct of monetary policy and its interaction with the rest of the economy.
- Qualifications:
- Participants are expected to have an advanced degree in economics or equivalent experience and be comfortable using Microsoft Excel.
Course Objectives
- Upon completion, participants should be able to:
- Analyze how monetary policy decisions are made under various regimes to deliver price stability and meet other objectives.
- Identify how these decisions are transmitted to the real economy.
- Evaluate how the economy and monetary policy respond to macroeconomic shocks under various monetary policy frameworks, demonstrated through a group presentation to their peers.
- Additional objectives for central bank practitioners:
- Design a sound monetary policy framework.
- Prescribe policies consistent with the framework chosen.
Syllabus and Pedagogy
- Duration and format:
- This is an overview two-week policy course.
- Core focus areas:
- Monetary policy frameworks.
- Monetary transmission mechanism.
- Role of monetary policy in macroeconomic stabilization.
- Teaching approach:
- Progressive learning from lectures introducing underlying concepts to hands-on workshops.
- Use of relevant case studies to reinforce participants’ understanding and to compare and assess policy responses to various shocks under different monetary policy regimes.
- Emphasis on practical policy challenges in emerging markets and developing economies.
- Group presentation component to demonstrate evaluation of policy responses to macroeconomic shocks.