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X-ORIGINAL-URL:https://mefmi.org/
X-WR-CALNAME:MEFMI
X-WR-CALDESC:- CELEBRATING 3 DECADES OF CAPACITY BUILDING
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BEGIN:VEVENT
CLASS:PUBLIC
UID:MEC-95cbe1e1f1fa3d8cd5bbcefd8a59191f@mefmi.org
DTSTART:20260907T090000Z
DTEND:20260911T160000Z
DTSTAMP:20251214T071500Z
CREATED:20251214
LAST-MODIFIED:20251214
PRIORITY:5
TRANSP:OPAQUE
SUMMARY:Machine Learning Approaches to Nowcasting
DESCRIPTION:Background\nMachine learning (ML) techniques are increasingly being explored for macroeconomic forecasting and nowcasting, offering enhanced predictive accuracy, flexibility in model design, and the ability to handle large datasets. Algorithms such as Random Forests, Artificial Neural Networks (ANNs), and Long Short-Term Memory (LSTM) networks have demonstrated superior performance in capturing complex nonlinear patterns in high-frequency data. It is for this reason that MEFMI will be conducting a workshop on Machine Learning Approaches to Nowcasting.\nThis workshop will introduce participants to the application of machine learning models in nowcasting GDP and other key macroeconomic indicators. It will combine theory with intensive hands-on training in Python, equipping participants with the skills to design, train, and evaluate machine learning models tailored to macroeconomic data.\nObjectives\nThe objective of the course is to introduce participants to machine learning models—such as Random Forests, ANNs, and LSTMs—for macroeconomic nowcasting. Through hands-on exercises in Python, participants will learn to prepare data, train models, and assess their performance, while also comparing results with traditional econometric methods.\nContent\nThe course will cover the following core topics:\n\n\nIntroduction to Machine Learning in Macroeconomics\n\n\nData Pre-processing for Time Series Nowcasting\n\n\nRandom Forests for GDP Nowcasting\n\n\nArtificial Neural Networks (ANNs) and Hyperparameter Tuning\n\n\nLong Short-Term Memory Networks (LSTM) for Sequential Data\n\n\nModel Comparison and Evaluation Metrics (RMSE, MAE, etc.)\n\n\nTarget Group\nThis course targets mid- to senior-level officials from central banks and ministries of finance who are engaged in macroeconomic modelling and analysis.\n
URL:https://mefmi.org/events/machine-learning-approaches-to-nowcasting/
CATEGORIES:MACROECONOMIC MANAGEMENT
LOCATION:Eswatini
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