Course Introduction
Course Description:
This 5-day professional development course, hosted at the Asian Institute of Technology (AIT) Thailand, provides a comprehensive exploration of macroeconomic dynamics and policy analysis. Designed for policymakers, economists, and development practitioners, the course integrates theoretical frameworks with hands-on workshops to bridge the gap between macroeconomic theory and real-world application. Participants will delve into core concepts such as macroeconomic accounts, economic modeling, stabilization policies, and growth strategies, while engaging with tools for forecasting, policy evaluation, and scenario analysis. The curriculum emphasizes practical skills, including the use of the ESCAP Macroeconomic Model, to equip professionals with the ability to design, analyze, and critique macroeconomic policies in both closed and open economies. Through interactive sessions led by expert instructors, attendees will gain insights into managing inflation, unemployment, debt sustainability, and macroeconomic stability in a globalized context.
Course Learning Outcomes:
By the end of this course, participants will be able to:
- 1) Understand Macroeconomic Accounting Frameworks: Interpret key macroeconomic accounts (e.g., BoP, GNI, GNS) and their interlinkages, and evaluate output gaps and potential GDP.
- 2) Apply Macroeconomic Modeling Techniques: Construct and analyze closed and open economy models, including IS-LM, AD-AS, and dynamic frameworks, to assess economic fluctuations and policy impacts.
- 3) Design Stabilization Policies: Formulate monetary, fiscal, and macro-prudential policies to address inflation, unemployment, and economic volatility in diverse economic contexts.
- 4) Evaluate Government Debt and Growth Strategies: Analyze debt sustainability and integrate macroeconomic policies with long-term growth objectives, including productivity and institutional reforms.
- 5) Conduct Policy Scenario Analysis: Utilize tools like the ESCAP Macroeconomic Model to simulate policy shocks, assess sensitivity, and forecast outcomes under different economic scenarios.
- 6) Strengthen Practical Forecasting Skills: Develop projections for real-sector variables (growth, employment, prices) and critically appraise macroeconomic data for evidence-based decision-making.
Target Audience: Economists, policymakers, central bank staff, development practitioners, and researchers seeking advanced training in macroeconomic analysis and policy design.
Duration: 5 days (Friday to Tuesday), combining lectures, workshops, and collaborative discussions.
Certification: Participants will receive a certificate upon successful completion of the course.
This program equips professionals to navigate complex macroeconomic challenges and contribute effectively to policy formulation in an interconnected global economy.
