{
  "title": "Nowcasting (NWC)",
  "sourceUrl": "https://www.imf.org/en/capacity-development/training/icdtc/courses/nwc",
  "canonical": "https://www.imf.org/en/capacity-development/training/icdtc/courses/nwc",
  "overlayPath": "/en/capacity-development/training/icdtc/courses/nwc/index.md",
  "summary": "Each topic is complemented by hands-on workshops and assignments designed to illuminate the steps required to formulate a nowcasting model and generate a nowcast.",
  "publishDate": "2024-08-01",
  "sections": [
    {
      "heading": "Overview",
      "content": "- The course is presented by the Institute for Capacity Development.\n- Provides participants with cutting-edge nowcasting tools to incorporate high-frequency economic indicators into the forecasting process.\n- Integrates training into technical assistance on data compilation and dissemination.\n- Each topic is complemented by hands-on workshops and assignments that illuminate the steps required to formulate a nowcasting model and generate a nowcast.\n- Topic: General Macroeconomics"
    },
    {
      "heading": "Target Audience",
      "content": "- Junior and middle-level officials from ministries of finance, central banks, and other interested public institutions."
    },
    {
      "heading": "Qualifications",
      "content": "- Participants are expected to have an advanced degree in economics or equivalent experience.\n- Basic understanding of time-series econometrics is required.\n- Participants should be comfortable using EViews (econometric software package).\n- It is strongly recommended that applicants have completed a few general macroeconomic courses, such as Macroeconomic Forecasting and Analysis (MFA) or Macroeconomic Diagnostic (MDS), face-to-face or online."
    },
    {
      "heading": "Course Objectives",
      "content": "- Upon completion of the course, participants should be able to:\n  - Understand and be proficient in the steps required to manage time-series data in EViews, estimate an OLS regression, and calculate its associated forecasts in EViews.\n  - Formulate several useful statistical procedures in EViews, including consolidation of time series from higher to lower frequencies; interpolation techniques; seasonal adjustment; and use of leading indicators.\n  - Identify appropriate high-frequency indicators and non-traditional data useful for nowcasting macroeconomic variables and prepare them for use in a nowcasting exercise.\n  - Formulate and estimate nowcasting models using several approaches (such as Bridge, MIDAS, and U-MIDAS estimators, etc.).\n  - Generate a nowcast from the base regression and consolidate competing forecasts using combination forecasts.\n  - Evaluate the accuracy of the nowcast using several forecasting performance indicators.\n  - Apply the nowcasting tools to their own country data and interpret the nowcast appropriately in policymaking settings."
    }
  ],
  "bullets": [
    "The course is presented by the Institute for Capacity Development.",
    "Provides participants with cutting-edge nowcasting tools to incorporate high-frequency economic indicators into the forecasting process.",
    "Integrates training into technical assistance on data compilation and dissemination.",
    "Each topic is complemented by hands-on workshops and assignments that illuminate the steps required to formulate a nowcasting model and generate a nowcast.",
    "Topic: General Macroeconomics",
    "Junior and middle-level officials from ministries of finance, central banks, and other interested public institutions.",
    "Participants are expected to have an advanced degree in economics or equivalent experience.",
    "Basic understanding of time-series econometrics is required.",
    "Participants should be comfortable using EViews (econometric software package).",
    "It is strongly recommended that applicants have completed a few general macroeconomic courses, such as Macroeconomic Forecasting and Analysis (MFA) or Macroeconomic Diagnostic (MDS), face-to-face or online.",
    "Upon completion of the course, participants should be able to:"
  ],
  "alternates": {
    "markdown": "/en/capacity-development/training/icdtc/courses/nwc/index.md",
    "json": "/en/capacity-development/training/icdtc/courses/nwc/index.json",
    "bundleManifest": "/en/capacity-development/training/icdtc/courses/nwc/bundle-manifest.json"
  },
  "generatedAtUtc": "2026-09-29T16:40:14.726Z"
}