MEFMI Reinforces e-learning Programme

Since its inception in 2015, the MEFMI e-learning programme has improved course participation rates and also provided participants with the flexibility of accessing the content at their convenience throughout the duration of the course. At the end of 2018, which is the fourth year of implementing e-learning, MEFMI embarked on some initiatives to reinforce the programme and strengthen its quality assurance standards. These included extensive external review of the course material, harmonisation of the course material presentation across the Institute, as well as introduction of interactive media within the course material. The moodle platform has also recently undergone an upgrade that has improved its navigation and functionality features.

Following the improvements, the Macroeconomic Management Programme has successfully delivered two (2) e-learning courses during the second quarter of 2019. These courses include the introduction to Macroeconomic Modelling and Forecasting; and Balance of Payments and International Investment Position Compilation and Analysis.

As an immediate output, the courses enhanced participants’ knowledge in the two areas of focus as evidenced by strong learning gains measured by pre-course and post-course evaluation tests.

Specifically, the course on introduction to macroeconomic modelling and forecasting presented participants with macroeconomic blocks and explained key theories behind each block. It also took participants through the process of diagnosing time series data and estimating equations, building and diagnosing a model, as well as demonstrated how to conduct forecasts. Participants appreciated the breadth and depth of the course as well as the hands-on exercises.

The course on Balance of Payments and International Investment Position enhanced participants’ understanding of the conceptual underpinnings, data sources and aspects of compilation, linkages to other macroeconomic accounts, and analysis of the external sector accounts in line with the BPM6 framework.

The two courses benefitted 59 officials from MEFMI member countries. In terms of gender participation, there were 39 males and 20 females, translating into 66% and 34% male and female representation, respectively. The participants were drawn from Central Banks, Ministries of Finance, National Statistics Offices, and Revenue Authorities.

The successful completion of these courses laid a foundation for future intermediate and advanced activities in these areas. It also provided opportunities for identification of country specific capacity needs. Looking forward, MEFMI plans to keep improving the programme including partnering with institutions to offer joint and accredited courses in continuous efforts to enrich the e-learning experience for participants.