Training Program

Mid-level to senior officials responsible for monetary policy decision making and staff doing macroeconomic analysis and forecasting or operating macroeconomic models.  

Participants are expected to have an advanced degree in economics or equivalent experience. Participants are expected to be comfortable using quantitative software such as Matlab/Octave, although specific knowledge of these is not required. 

This course provides rigorous training on the use of simple Dynamic New Keynesian (DNK) models to conduct monetary policy analysis and forecasting. It emphasizes the analysis of monetary policy responses to macroeconomic imbalances and shocks. Participants are provided with the tools necessary to develop or extend the canonical model to fit their own monetary policy framework and selected features of their country's economy. Country case studies are used to reinforce participants' understanding and to help them compare and assess a variety of possible experiences.BLENDED COURSE REQUIREMENTS | The course will run in a blended format, consisting of two compulsory parts. Selected participants will first complete on their own time three mandatory short online learning segments and consultation hours with lecturers during October 12 - 23, 2026. In-person portion of the course will be held at JVI in Vienna during November 2 - 13, 2026. Completing both the online and in-person parts of the course will be required for successful completion of the course in order to receive the course certificate.