Connect with IMF Institute

Monetary and Fiscal Policy Analysis with DSGE Models (DSGE)

Monetary and Fiscal Policy Analysis with DSGE Models

This course, presented by the Institute for Capacity Development, focuses on building, using, and interpreting DSGE models. It aims to familiarize participants with the models and techniques commonly employed by policymakers to analyze monetary and fiscal matters. The course dedicates numerous lectures to addressing model design and implementation issues. It uses region-specific case studies to demonstrate the practical application of these models and their potential contributions to the policymaking process. Additionally, the course explores the benefits and limitations of utilizing these models for policy analysis and advice. 

Read More Topic : General Macroeconomic Analysis

    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.

    Back to top

    Qualifications

    Participants are expected to have an advanced degree in economics or equivalent experience, solid quantitative skills, and a basic knowledge of MATLAB/Octave and Dynare/Iris – specific knowledge of these is not required. It is recommended that applicants have completed the online Monetary Policy Analysis and Forecasting (MPAFx) course.

    Back to top

    Course Objectives

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

    • Describe the models and techniques (simulation and estimation) that policy makers use in analyzing monetary, fiscal, and structural issues. 
    • 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. 
    • Participants will learn to construct a basic DSGE model from first principles using data specific to their own country in the region. 
    Back to top

    Syllabus

    This two-week course, presented by the IMF’s Institute for Capacity Development, focuses on the use and interpretation of dynamic stochastic general equilibrium (DSGE) models. The emphasis is on applications of fiscal and monetary policies using models with nominal and real rigidities that are commonly used in central banks and ministries of finance. The course relies on case studies relevant for the region to illustrate the application of these models, and to show how they can be used as an input in the policymaking process.
    Back to top

    Upcoming Offering

    Start date End date Location Delivery Method Session No. Primary & (Interpretation) language Apply
    September 29, 2025 October 10, 2025 Vienna, Austria In-person Training JV 25.29 English Apply online by June 2, 2025
    Back to top

    Apply Now - Application deadline approaching:

    IMF offers online training to government officials and the public. Click Learn more to find our current offerings.

    Cyber Risk Supervision (CRS)

    English | January 20-24, 2025 | In-person Training | New Delhi, India

    Apply online by November 12, 2024

    Strengthening Revenue Administration for Gender Equality

    English | December 9-11, 2024 | In-person Training | New Delhi, India

    Apply online by November 13, 2024

    Cyber Risk Supervision - Path to Operational Resilience (CRS)

    English (Arabic) | January 12-16, 2025 | In-person Training | Kuwait City, Kuwait

    Apply online by November 14, 2024

    Tax Policy and Administration: Theory and Practice (TPAT)

    English (Arabic) | January 19-23, 2025 | In-person Training | Kuwait City, Kuwait

    Apply online by November 14, 2024

    Fiscal Sustainability (FS)

    English | April 14-25, 2025 | In-person Training | Singapore, Singapore

    Apply online by November 15, 2024