Macroeconomic Foundation Course for General Inductees of Royal Monetary Authority

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Canonical URL: Macroeconomic Foundation Course for General Inductees of Royal Monetary Authority

Target Audience: Mid-level to senior officials in RMA who are directly involved in diagnosing the state of the macroeconomy and making projections.
Qualifications: A background in economics would be useful but not essential.

Provides new inductees into the RMA's general stream with a broad understanding of macroeconomic tools used to assess a country's macroeconomic situation.
Covers: the current state of the economy; the stance of fiscal and monetary policy; financial stability; exchange rate misalignments; vulnerabilities in the different sectors; and the medium-term outlook, especially the sustainability of public debt.
Emphasizes application to Bhutan to illustrate current macroeconomic opportunities and challenges and to demonstrate practical tools for day-to-day macroeconomic analysis and policy making.
Hands-on, Excel-based tools are used for practical analysis.

Upon completion of this course, participants should be able to:

Analyze economic and financial developments of a country in the region using historical data and a hands-on, Excel-based tools.
Analyze potential output and calculate output gaps and diagnose the outlook for the economy.
Assess the stance of current fiscal, monetary and exchange rate, and financial policies.
Assess macro-financial linkages, including through the analysis of financial sector soundness indicators.
Assess the medium-term prospects of the economy, especially the sustainability of public and external debt, and identify impediments to long-term growth.
Identify possible risks and vulnerabilities to economic growth and identify policies to address them.