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MACRO I - Macro for development
The course is intended for Commission staff, notably for DG Devco in HQ and Delegation. The course is also open to colleagues from the European Institutions, notably DG ECFIN, ELARG, TRADE, ECHO and the EEAS.
This course lasts 3 days and can take place both in Brussels (HQ) and Delegation.
For further information, please contact the DEVCO Training Team.
- To provide participants with an understanding of the main concepts used in applied macroeconomics and the interactions between them.
- To help participants analyze macroeconomic stability in partner countries in order to assess the (macro) eligibility criteria for that country in the context of a budget support operation.
- To help participants prepare a Risk Management Framework (RMF).
- To help participants enhance the quality of their dialogue with partner countries on macroeconomic and policy issues.
- To help participants acquire the tools needed to actively understand reports and analytical notes prepared by other institutions, in particular the IMF and other International Financial Institutions (IFIs).
- To familiarize participants with the relevant sources of macroeconomic data and information.
- To provide the participants with reference documentation they can use to meet the objectives listed above
Day 1 : Lecture on Financial Programming
It contains the elements needed to understand the short and medium run economic challenges of an economy and help the participants read IMF Article 4 reports. It covers the real sector, the external sector, the monetary sector and the Government sector. The links between the sectors are also reviewed.
Day 2 : Macroeconomic assessment and RMF
In the morning, the elements of financial programming studied the previous day are used to prepare the macroeconomic stability assessment and RMF in the context of a budget support operation.
In the afternoon, small groups (2 to 3 participants) prepare a short macroeconomic stability assessment and work on the macroeconomic section of an actual RMF.
Day 3 (Morning): The International Financial Architecture and Financial sector indicators
The first lecture will be on Bretton Woods Institutions (the World Bank and the IMF) with a focus on their respective roles in the international financial architecture and their governance.
The second lecture will discuss specific elements related to financial sector development and how to detect financial risks. It will be based on the Financial Sector Assessment Programs (FSAP) and the Financial Sector Indicators developed by the World Bank and the IMF.
Day 3 (Afternoon): Continuation of the Day2 workshop + presentations by each group of its macroeconomic risk assessment
The course will be will articulated around two or three country case studies to allow participants to put the notions to practice. The course itself will be interactive, and will use real data from DCs around the world. Depending on participants' profiles, the country case studies could relate to a small island, a resource rich country, or one in financial distress, from any region in the world.
This training is offered in English, but also in French: Macro I – Stabilisation Macroéconomique dans le Contexte de l’Appui Budgétaire.
All course modules can be downloaded together in a compressed zip file: Download