## Monetary Policy (MP)

## Source details

**Canonical URL:** [Monetary Policy (MP)](https://www.imf.org/en/capacity-development/training/icdtc/courses/mp)

## Other formats

- [Markdown version](/en/capacity-development/training/icdtc/courses/mp/index.md)
- [Structured JSON version](/en/capacity-development/training/icdtc/courses/mp/index.json)
- [Bundle manifest](/en/capacity-development/training/icdtc/courses/mp/bundle-manifest.json)

## Bibliographic details
- Published: July 24, 2025

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## 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](https://www.imf.org/en/capacity-development/training/icdtc/delivery-methods) | [AT 27.06V](https://www.imf.org/en/capacity-development/training/icdtc/schedule/at/2027/mpat27-06v) | English (French) | [Apply online](https://www-ins.imf.org/TAS/signon.aspx?pkey=AT27.06VE) 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.

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## Content in this bundle

- **Normal**
  - [Normal (Markdown version)](/-/media/files/icd/mp.pdf.md){rel="alternate" type="text/markdown"}
  - [Normal (PDF)](/-/media/files/icd/mp.pdf){rel="external" type="application/pdf"}

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## References

- [Virtual Training](https://www.imf.org/en/capacity-development/training/icdtc/delivery-methods)
- [AT 27.06 V](https://www.imf.org/en/capacity-development/training/icdtc/schedule/at/2027/mpat27-06v)
- [Apply online](https://www-ins.imf.org/TAS/signon.aspx?pkey=AT27.06VE)

_Source: https://www.imf.org/en/capacity-development/training/icdtc/courses/mp_