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Monetary Policy (MP)

Monetary Policy

This course, presented by the Institute for Capacity Development, provides a comprehensive overview of monetary policy regimes, monetary transmission mechanisms, and the role of monetary policy in macroeconomic stabilization. The course bridges the gap between theory, empirical evidence, and operational experience by illustrating the optimization problems and tradeoffs involved in monetary policy decisions. The learning process moves from lectures introducing the basic policy concepts to hands-on workshops with a special focus on practical policy challenges in emerging market and developing economies. Case studies are used to reinforce participants’ understanding and to help them compare and assess policy responses to various shocks under different monetary policy regimes. The course ...

Read More Topic : Monetary Exchange Rate and Capital Account Policies

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. 

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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. 

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Course Objectives

Upon completion of this course, 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.  

Central bank practitioners should also be able to: 

  • Design a sound monetary policy framework.  
  • Prescribe policies consistent with the framework chosen.
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Syllabus

This is an overview two-week policy course focusing on monetary policy frameworks, monetary transmission mechanism and the role of monetary policy in macroeconomic stabilization. The course bridges the gap between theory, empirical evidence, and operational experience, by conveying monetary policy decisions in light of existing tradeoffs. The learning progresses from lectures introducing the underlying concepts to hands-on workshops, and relevant case studies used to reinforce participants’ understanding. By the end of the course participants will be able to (i) analyze how monetary policy decisions are taken under various regimes to deliver price stability, (ii) identify how these decisions are transmitted to the real economy, and (iii) evaluate how the economy and monetary policy respond to macroeconomic shocks under various monetary policy frameworks.
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Upcoming Offering

Start date End date Location Delivery Method Session No. Primary & (Interpretation) language Apply
March 24, 2025 April 4, 2025 Vienna, Austria In-person Training JV 25.08 English Deadline passed
April 3, 2025 April 9, 2025 Apia, Samoa In-person Training OT 25.13 English Invitation
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