## Monetary and Fiscal Policy Analysis with DSGE Models

## Source details

**Canonical URL:** [Monetary and Fiscal Policy Analysis with DSGE Models](https://www.imf.org/en/capacity-development/training/icdtc/schedule/ct/2023/dsgect23-09)

## Other formats

- [Markdown version](/en/capacity-development/training/icdtc/schedule/ct/2023/dsgect23-09/index.md)
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## Bibliographic details
- Session: CT 23.09
- Location: Beijing, China
- Dates: August 21, 2023 - September 1, 2023 (2 weeks)
- Delivery method: In-person Training
- Primary language: English

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### Target Audience and Qualifications
- Target Audience:
  - Mid-level to senior officials who use Dynamic Stochastic General Equilibrium (DSGE) models in the macroeconomic analysis of monetary and fiscal policy issues.
- Qualifications:
  - Expected to have an advanced degree in economics or equivalent experience.
  - Solid quantitative skills.
  - Basic knowledge of MATLAB/Octave and Dynare/Iris.
  - It is strongly recommended that applicants have completed the online Macroeconometric Forecasting (MFx) course.

### Course Description
- Presented by the Institute for Capacity Development.
- Focus on building, using, and interpreting DSGE models.
- Introduces models and techniques that policy makers commonly use in analyzing monetary and fiscal issues.
- Devotes a large number of lectures to model design and implementation issues.
- Uses case studies relevant to the region to illustrate application of models to policymaking.
- Discusses the advantages and limitations of DSGE models when used for policy analysis and advice.

### Course Objectives
Upon completion of the course, participants should be able to:
- Describe the models and techniques (computation and estimation) that policy makers use in analyzing monetary, fiscal, and structural issues.
- Build a basic DSGE model from first principles using data for a country case in the region.
- Augment or modify the model structure to address an economic policy question.
- Apply the DSGE models developed in the course to various policy questions and interpret their results.
- Identify the advantages and limitations of the models when used for policy analysis and advice.
- Start building a model based on their own country’s data.

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## References

- [In-person Training](https://www.imf.org/en/capacity-development/training/icdtc/delivery-methods)
- [Core Elements of Banking Supervision (CBS)](https://www.imf.org/en/capacity-development/training/icdtc/schedule/at/2027/cbsat27-10)
- [Advanced Government Finance Statistics (GFS-A)](https://www.imf.org/en/capacity-development/training/icdtc/schedule/ce/2026/gfs-ace26-45)
- [Fiscal Sustainability (FS)](https://www.imf.org/en/capacity-development/training/icdtc/schedule/ce/2026/fsce26-38)
- [Safeguards Assessments of Central Banks (SAC)](https://www.imf.org/en/capacity-development/training/icdtc/schedule/at/2026/sacat26-30)
- [Macroeconomic Management in Resource Rich Countries (MRC)](https://www.imf.org/en/capacity-development/training/icdtc/schedule/ce/2026/mrcce26-44)

_Source: https://www.imf.org/en/capacity-development/training/icdtc/schedule/ct/2023/dsgect23-09_