Monetary Policy (MP)
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- Monetary Policy (MP)
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Bibliographic details
- Session: CE 24.12
- Location: Kuwait City, Kuwait
- Dates: February 4-7, 2024 (1 week)
- Delivery method: In-person Training
- Primary language: English
- Status: Deadline passed
Overview and Logistics
- Training Program: Monetary Policy
- Session No.: CE 24.12
- Location: Kuwait City, Kuwait
- Date: February 4-7, 2024 (1 week)
- Delivery Method: In-person Training
- Primary Language: English
- Status: Deadline passed
Target Audience and Qualifications
- Target Audience:
- Junior to mid-level officials from emerging markets and low-income countries interested in understanding and analyzing 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.
- Comfortable using Microsoft Excel and Excel-based applications.
- Course is an overview course; it is strongly recommended that applicants have completed a few general macroeconomic courses, such as Financial Programming and Policies (FPP) and Macroeconomic Diagnostic (MDS), face-to-face or online.
Course Description and Content
- Purpose:
- Presented by the Institute for Capacity Development, the course gives a comprehensive overview of monetary policy regimes, monetary transmission mechanisms, and the role of monetary policy in macroeconomic stabilization.
- Approach:
- Bridges theory, empirical evidence, and operational experience by illustrating optimization problems and tradeoffs involved in monetary policy decisions.
- Learning moves from lectures introducing basic concepts to hands-on workshops.
- Case studies are used to reinforce participant understanding and to help compare and assess a variety of experiences.
- Topics and emphasis:
- Monetary frameworks and central bank mandates, including attention to environmental, social and governance principles.
- Recent crises that have dramatically changed the landscape in which central banks operate (beyond simple interest rate policies, with due consideration to Unconventional Monetary Policy).
- Recent evolution of FinTech and digital currencies and implications to monetary policy.
Course Objectives and Practitioner Outcomes
- Upon completion, participants should be able to:
- Analyze how monetary policy decisions are made under various regimes to deliver price stability and meeting 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.
- Central bank practitioner objectives:
- Design a sound monetary policy framework.
- Prescribe policies consistent with the framework chosen.
References