{
  "title": "Monetary Policy (MP)",
  "sourceUrl": "https://www.imf.org/en/capacity-development/training/icdtc/courses/mp",
  "canonical": "https://www.imf.org/en/capacity-development/training/icdtc/courses/mp",
  "overlayPath": "/en/capacity-development/training/icdtc/courses/mp/index.md",
  "summary": "Monetary Policy (MP) Training Program Course Monetary Policy (MP) This course provides a comprehensive overview of monetary policy regimes, monetary transmission mechanisms, and the role of monetary policy in macroeconomic stabilization.",
  "publishDate": "2025-07-24",
  "sections": [
    {
      "heading": "Topic and Scope",
      "content": "- Topic: Monetary and External Sector Policies\n- This course provides a comprehensive overview of monetary policy regimes, monetary transmission mechanisms, and the role of monetary policy in macroeconomic stabilization.\n- Focuses on bridging theory, empirical evidence, and operational experience by illustrating tradeoffs involved in monetary policy decisions.\n- 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.\n- 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."
    },
    {
      "heading": "Target Audience and Qualifications",
      "content": "- Target Audience:\n  - 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.\n- Qualifications:\n  - Participants are expected to have an advanced degree in economics or equivalent experience and be comfortable using Microsoft Excel."
    },
    {
      "heading": "Course Objectives",
      "content": "- Upon completion, participants should be able to:\n  - Analyze how monetary policy decisions are made under various regimes to deliver price stability and meet other objectives.\n  - Identify how these decisions are transmitted to the real economy.\n  - Evaluate how the economy and monetary policy respond to macroeconomic shocks under various monetary policy frameworks, demonstrated through a group presentation to their peers.\n- Additional objectives for central bank practitioners:\n  - Design a sound monetary policy framework.\n  - Prescribe policies consistent with the framework chosen."
    },
    {
      "heading": "Syllabus and Pedagogy",
      "content": "- Duration and format:\n  - This is an overview two-week policy course.\n- Core focus areas:\n  - Monetary policy frameworks.\n  - Monetary transmission mechanism.\n  - Role of monetary policy in macroeconomic stabilization.\n- Teaching approach:\n  - Progressive learning from lectures introducing underlying concepts to hands-on workshops.\n  - Use of relevant case studies to reinforce participants’ understanding and to compare and assess policy responses to various shocks under different monetary policy regimes.\n  - Emphasis on practical policy challenges in emerging markets and developing economies.\n  - Group presentation component to demonstrate evaluation of policy responses to macroeconomic shocks."
    }
  ],
  "bullets": [
    "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:",
    "Qualifications:",
    "Upon completion, participants should be able to:",
    "Additional objectives for central bank practitioners:",
    "Duration and format:",
    "Core focus areas:",
    "Teaching approach:",
    "**Normal**"
  ],
  "related": [
    {
      "title": "Normal",
      "role": "document",
      "sourceUrl": "https://www.imf.org/-/media/files/icd/mp.pdf",
      "summary": {
        "path": "/-/media/files/icd/mp.pdf.md",
        "mime": "text/markdown"
      },
      "binary": {
        "path": "/-/media/files/icd/mp.pdf",
        "mime": "application/pdf"
      }
    }
  ],
  "alternates": {
    "markdown": "/en/capacity-development/training/icdtc/courses/mp/index.md",
    "json": "/en/capacity-development/training/icdtc/courses/mp/index.json",
    "bundleManifest": "/en/capacity-development/training/icdtc/courses/mp/bundle-manifest.json"
  },
  "generatedAtUtc": "2026-09-29T16:39:11.283Z"
}