## Monetary Policy (MP)

## Source details

**Canonical URL:** [Monetary Policy (MP)](https://www.imf.org/en/capacity-development/training/icdtc/schedule/jv/2024/mpjv24-09)

## Other formats

- [Markdown version](/en/capacity-development/training/icdtc/schedule/jv/2024/mpjv24-09/index.md)
- [Structured JSON version](/en/capacity-development/training/icdtc/schedule/jv/2024/mpjv24-09/index.json)
- [Bundle manifest](/en/capacity-development/training/icdtc/schedule/jv/2024/mpjv24-09/bundle-manifest.json)

## Bibliographic details
- Session: JV 24.09
- Location: Vienna, Austria
- Dates: April 8-19, 2024 (2 weeks)
- Delivery method: In-person Training
- Primary language: English
- Status: Deadline passed

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### Program overview and logistics
- Training Program: Monetary Policy
- Session No.: JV 24.09
- Location: Vienna, Austria
- Date: April 8-19, 2024 (2 weeks)
- Delivery Method: In-person Training
- Primary Language: English
- Deadline 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 and be comfortable using Microsoft Excel and Excel-based applications.
  - 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.
- Central bank practitioner outcomes:
  - Design a sound monetary policy framework.
  - Prescribe policies consistent with the framework chosen.

### Course description and content focus
- The course, presented by the Institute for Capacity Development, provides a comprehensive overview of:
  - Monetary policy regimes.
  - Monetary transmission mechanisms.
  - The role of monetary policy in macroeconomic stabilization.
- Pedagogical approach:
  - Bridges theory, empirical evidence, and operational experience.
  - Moves from lectures introducing basic policy concepts to hands-on workshops focused on practical policy challenges in emerging market and developing economies.
  - Uses case studies to reinforce understanding and to compare and assess policy responses to various shocks under different monetary policy regimes.
- Specific topical emphases:
  - Optimization problems and tradeoffs involved in monetary policy decisions.
  - Evolving nature of monetary frameworks and central bank mandates with 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 and central bank communication).
  - Recent evolution of central bank digital currencies and its implications for monetary policy transmission and operations.

### Course objectives
- 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.

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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/jv/2024/mpjv24-09_