Background

The continuously evolving policy landscape provides a challenge for macroeconomic management and stability in developing and emerging countries. This changing environment makes it difficult to effectively conduct sound monetary policy and therefore requires, among others, skills to make informed choices of monetary policy frameworks and instruments that address emerging issues and support macroeconomic stability. Policymakers in the region also need to be capacitated on how to conduct better analysis in order to avoid implementing policies that may have unintended consequences. In light of this, monetary policy analysis continues to be an area that requires substantial capacity development in the region. It is in this regard that MEFMI is offering an e-learning course on Introduction to Monetary Policy Analysis in an effort to assist policymakers in ensuring that policy conduct remains consistent with the gradual changes in the policy environment.

Objectives

To equip participants with skills to understand:

• The main concepts and measurements used in monetary policy analysis.

• Monetary policy frameworks.

• Monetary policy and evolving regimes.

• Forecasting and Policy Analysis System (FPAS); and

• Monetary policy in a digital era.

Course Content

The content of the course will cover, amongst others:

• The main concepts and measurements used in monetary policy analysis.

• Monetary policy transmission mechanisms and transitioning frameworks.

• A quantitative framework for monetary policy analysis.

• The role of FPAS; and

• Monetary policy in a digital era.

Target Group

Junior to mid-level officials from ministries of finance and central banks who are responsible for monetary policy analysis.