Monetary Policy

Source details

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.
- Participants should be comfortable using Microsoft Excel and Excel-based applications.
- This 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.

Presented by the Institute for Capacity Development.
Gives a comprehensive overview of:
- monetary policy regimes,
- monetary transmission mechanisms,
- the role of monetary policy in macroeconomic stabilization.
Bridges theory, empirical evidence, and operational experience by illustrating optimization problems and tradeoffs involved in monetary policy decisions.
Learning approach:
- Lectures introducing the basic concepts.
- Hands-on workshops.
- Case studies used to reinforce participant understanding and to help compare and assess a variety of experiences.

Upon completion of this course, participants should be able to:
- Analyze how monetary policy decisions are made under various regimes to deliver price stability.
- 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 practitioners should also be able to:
- Design a sound monetary policy framework.
- Prescribe policies consistent with the framework chosen.