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Francesco Luna,
Alfredo Baldini,
Evan Tanner,
Adina Popescu,
and
Antonio David
In this macroeconomics course, you will improve your skills in macroeconomic policy analysis and learn to design an economic and financial program, using real economic data. The financial programming exercise simulates what IMF (International Monetary Fund) desk economists routinely do in their country surveillance and program work.
Read more
In this macroeconomics course, you will improve your skills in macroeconomic policy analysis and learn to design an economic and financial program, using real economic data. The financial programming exercise simulates what IMF (International Monetary Fund) desk economists routinely do in their country surveillance and program work.
Read more
In this macroeconomics course, you will improve your skills in macroeconomic policy analysis and learn to design an economic and financial program, using real economic data. The financial programming exercise simulates what IMF (International Monetary Fund) desk economists routinely do in their country surveillance and program work.
In the first part of the course (modules 1–7), you will analyze the economic outlook of a country case and then help to build a baseline scenario — namely, a set of projections for the main macroeconomic sectors (real, external, government and monetary) that reflects the analyst’s best guess of what will happen to the economy in the coming year, assuming no policy change.
In the second part (modules 8–10), you will learn and discuss how macroeconomic policies can be used to address poor performance and reduce macroeconomic imbalances. We will illustrate the workings of monetary, fiscal and exchange rate policies by using a simple Keynesian model of an open economy. In the final module you will design an IMF–supported lending program scenario for our country case.
Financial Programming and Policies, Part 2 is offered by the IMF with financial support from the Government of Japan.
What you'll learn
- How to construct projections of the real, external, government, and monetary sectors under the assumption of unchanged policy
- How to generate sectoral forecasts that are consistent from accounting and behavioral perspectives
- How to use a macroeconomic model to analyze the effects of policy changes
- How to identify and appraise the economic vulnerabilities inherent in an emerging market economy
- How to prepare a macroeconomic policy program scenario
Register for this course and see more details by visiting:
OpenCourser.com/course/7d56mr/financial
What's inside
Learning objectives
- How to construct projections of the real, external, government, and monetary sectors under the assumption of unchanged policy
- How to generate sectoral forecasts that are consistent from accounting and behavioral perspectives
- How to use a macroeconomic model to analyze the effects of policy changes
- How to identify and appraise the economic vulnerabilities inherent in an emerging market economy
- How to prepare a macroeconomic policy program scenario
- How to construct projections of the real, external, government, and monetary sectors under the assumption of unchanged policy
- How to generate sectoral forecasts that are consistent from accounting and behavioral perspectives
- How to use a macroeconomic model to analyze the effects of policy changes
- How to identify and appraise the economic vulnerabilities inherent in an emerging market economy
- How to prepare a macroeconomic policy program scenario
Good to know
Good to know
Know what's good ,
what to watch for , and
possible dealbreakers
Geared towards students whose interests lie in economics
Develops skills in macroeconomic policy analysis, crucial for economists
Taught by Francesco Luna, Adina Popescu, Antonio David, Alfredo Baldini, and Evan Tanner, experts in economics
Examines relevant economic vulnerabilities inherent in emerging market economies
Provides hands-on experience in preparing macroeconomic policy program scenarios
Supported by the International Monetary Fund (IMF)
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Save Financial Programming and Policies, Part 2: Program Design to your list so you can find it easily later:
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Reviews summary
Macroeconomic modeling with excel
Learners say that Financial Programming and Policies, Part 2: Program Design is an excellent, stimulating course that builds a foundation for analyzing the macroeconomy and developing policy recommendations with Excel and a simple economic model. This course is especially helpful for those with an undergraduate degree in economics.
Engaging course with applicable content.
"The course material was stimulating, enhancing my understanding of how to build economic scenarios on a spreadsheet."
The discussion forums were not very active.
"Discussions on the forum were rather poor."
The instructors were not very responsive to questions.
"The staff was unavailable to answer to my question, even after I followed the proper procedure."
The course covers a lot of material in a short amount of time.
"Overall, I found the course was rich in material condensed into seven weeks."
Activities
Be better prepared
before
your course. Deepen your understanding
during
and
after
it. Supplement your coursework and achieve mastery of the topics covered
in Financial Programming and Policies, Part 2: Program Design with these
activities:
Review fundamental concepts in algebra and calculus
Show steps
Refresh your understanding of algebra and calculus as foundational mathematical tools used extensively in macroeconomic analysis.
Browse courses on
Algebra
Show steps
-
Review notes or textbooks from previous coursework
-
Practice solving equations and inequalities
-
Review basic calculus concepts like differentiation and integration
Review: International Economics by Paul Krugman and Maurice Obstfeld
Show steps
Supplement the course material by reading a classic textbook on international economics, providing a deeper understanding of the global economic landscape.
View
International Finance: Theory and Policy,...
on Amazon
Show steps
-
Read the designated chapters
-
Take notes and highlight key concepts
-
Discuss the readings with classmates or the instructor
Follow tutorials on time series analysis in R or Python
Show steps
Develop practical skills in time series analysis, a crucial technique for analyzing macroeconomic data, through guided tutorials.
Browse courses on
Time Series Analysis
Show steps
-
Identify reputable online tutorials or courses on time series analysis
-
Choose a programming language (R or Python) and follow the tutorials
-
Practice analyzing time series data using the techniques learned
Four other activities
Expand to see all activities and additional details
Show all seven activities
Engage in peer-led discussion groups
Show steps
Collaborate with peers to discuss course concepts, exchange perspectives, and reinforce understanding through peer-to-peer learning.
Browse courses on
Macroeconomic Analysis
Show steps
-
Form study groups with classmates
-
Choose topics for discussion based on the course material
-
Prepare and present summaries or lead discussions
-
Engage in active listening and respectful dialogue
Practice macroeconomic modeling through online simulations
Show steps
Practice using macroeconomic models to analyze economic data and forecast economic outcomes, reinforcing the key concepts of the course.
Show steps
-
Identify a reputable online simulation platform
-
Select a model that aligns with the course material
-
Input data and adjust parameters as guided by the course content
-
Run simulations and analyze the results
-
Compare your findings with the course material and refine your understanding
Contribute to macroeconomic open-source projects on GitHub
Show steps
Enhance your practical skills and contribute to the macroeconomic community by working on open-source projects related to macroeconomic modeling.
Browse courses on
Open Source
Show steps
-
Identify macroeconomic open-source projects on GitHub
-
Choose a project and review its documentation
-
Identify areas where you can contribute and submit pull requests
-
Collaborate with other contributors and maintainers
Develop a macroeconomic policy brief
Show steps
Apply the knowledge gained in the course to create a comprehensive policy brief that addresses a specific macroeconomic issue, demonstrating a deep understanding of the material.
Browse courses on
Fiscal Policy
Show steps
-
Identify a pressing macroeconomic issue
-
Research and analyze relevant data and literature
-
Develop policy recommendations based on the course concepts
-
Draft and refine the policy brief, ensuring clarity and persuasiveness
-
Present your brief to a peer group or instructor for feedback
Review fundamental concepts in algebra and calculus
Show steps
Refresh your understanding of algebra and calculus as foundational mathematical tools used extensively in macroeconomic analysis.
Browse courses on
Algebra
Show steps
Show steps
Show steps
- Review notes or textbooks from previous coursework
- Practice solving equations and inequalities
- Review basic calculus concepts like differentiation and integration
Review: International Economics by Paul Krugman and Maurice Obstfeld
Show steps
Supplement the course material by reading a classic textbook on international economics, providing a deeper understanding of the global economic landscape.
View
International Finance: Theory and Policy,...
on Amazon
Show steps
Show steps
Show steps
- Read the designated chapters
- Take notes and highlight key concepts
- Discuss the readings with classmates or the instructor
Follow tutorials on time series analysis in R or Python
Show steps
Develop practical skills in time series analysis, a crucial technique for analyzing macroeconomic data, through guided tutorials.
Browse courses on
Time Series Analysis
Show steps
Show steps
Show steps
- Identify reputable online tutorials or courses on time series analysis
- Choose a programming language (R or Python) and follow the tutorials
- Practice analyzing time series data using the techniques learned
Four other activities
Expand to see all activities and additional details
Show all seven activities
Engage in peer-led discussion groups
Show steps
Collaborate with peers to discuss course concepts, exchange perspectives, and reinforce understanding through peer-to-peer learning.
Browse courses on
Macroeconomic Analysis
Show steps
Show steps
Show steps
- Form study groups with classmates
- Choose topics for discussion based on the course material
- Prepare and present summaries or lead discussions
- Engage in active listening and respectful dialogue
Practice macroeconomic modeling through online simulations
Show steps
Practice using macroeconomic models to analyze economic data and forecast economic outcomes, reinforcing the key concepts of the course.
Show steps
Show steps
Show steps
- Identify a reputable online simulation platform
- Select a model that aligns with the course material
- Input data and adjust parameters as guided by the course content
- Run simulations and analyze the results
- Compare your findings with the course material and refine your understanding
Contribute to macroeconomic open-source projects on GitHub
Show steps
Enhance your practical skills and contribute to the macroeconomic community by working on open-source projects related to macroeconomic modeling.
Browse courses on
Open Source
Show steps
Show steps
Show steps
- Identify macroeconomic open-source projects on GitHub
- Choose a project and review its documentation
- Identify areas where you can contribute and submit pull requests
- Collaborate with other contributors and maintainers
Develop a macroeconomic policy brief
Show steps
Apply the knowledge gained in the course to create a comprehensive policy brief that addresses a specific macroeconomic issue, demonstrating a deep understanding of the material.
Browse courses on
Fiscal Policy
Show steps
Show steps
Show steps
- Identify a pressing macroeconomic issue
- Research and analyze relevant data and literature
- Develop policy recommendations based on the course concepts
- Draft and refine the policy brief, ensuring clarity and persuasiveness
- Present your brief to a peer group or instructor for feedback
Career center
Learners who complete Financial Programming and Policies, Part 2: Program Design will develop knowledge and skills
that may be useful to these careers:
Monetary Economist
Monetary Economist
Monetary economists analyze and interpret economic data and trends related to monetary policy. They advise governments and central banks on how to manage the money supply and interest rates. The Financial Programming and Policies course would provide you with the skills and knowledge necessary to succeed in this role. It would help you develop a strong understanding of monetary policy and its impact on the economy.
Risk Analyst
Risk Analyst
Risk analysts identify and assess risks to organizations. They develop and implement strategies to mitigate risks and protect organizations from financial losses. The Financial Programming and Policies course would provide you with the skills and knowledge necessary to succeed in this role. It would help you develop a strong understanding of risk management and financial analysis.
Quantitative Analyst
Quantitative Analyst
Quantitative analysts use mathematical and statistical techniques to analyze and interpret data. They develop and implement models to solve business problems and make predictions. The Financial Programming and Policies course would provide you with the skills and knowledge necessary to succeed in this role. It would help you develop a strong foundation in mathematics and statistics.
Investment Banker
Investment Banker
Investment bankers provide advice to corporations and governments on mergers and acquisitions, capital raising, and other financial transactions. They help clients achieve their financial goals and raise capital. The Financial Programming and Policies course would provide you with the skills and knowledge necessary to succeed in this role. It would help you develop a strong understanding of financial markets and investment banking.
Portfolio Manager
Portfolio Manager
Portfolio managers manage and invest portfolios of securities for individuals and institutions. They make investment decisions and allocate assets to achieve specific financial goals. The Financial Programming and Policies course would provide you with the skills and knowledge necessary to succeed in this role. It would help you develop a strong understanding of portfolio management and investment strategies.
Financial Planner
Financial Planner
Financial planners provide advice to individuals and families on financial planning and investment strategies. They help clients achieve their financial goals and plan for the future. The Financial Programming and Policies course would provide you with the skills and knowledge necessary to succeed in this role. It would help you develop a strong understanding of financial planning and investment strategies.
Venture Capitalist
Venture Capitalist
Venture capitalists provide funding and support to early-stage companies with high growth potential. They help companies develop their products and services and bring them to market. The Financial Programming and Policies course would provide you with the skills and knowledge necessary to succeed in this role. It would help you develop a strong understanding of venture capital and investment analysis.
Economist
Economist
Economists analyze and interpret economic data and trends to advise organizations and governments on economic policy and financial planning. They use economic models to forecast future economic conditions and develop strategies to address economic challenges. The Financial Programming and Policies course from the IMF would provide you with a strong foundation in macroeconomic analysis and policy design. It would help you develop the skills and knowledge necessary to succeed in this role.
Budget Analyst
Budget Analyst
Budget analysts analyze and interpret financial data to develop and manage budgets. They help organizations allocate resources and make informed financial decisions. The Financial Programming and Policies course would provide you with the skills and knowledge necessary to succeed in this role. It would help you develop a strong understanding of budget analysis and financial management.
Financial Analyst
Financial Analyst
Financial analysts provide advice to individuals and organizations on investment decisions. They analyze financial data and make recommendations on how to allocate funds. The Financial Programming and Policies course would provide you with the skills and knowledge necessary to succeed in this role. It would help you develop a strong understanding of financial markets and investment strategies.
Public Policy Analyst
Public Policy Analyst
Public policy analysts analyze and interpret economic and social data to advise governments on public policy. They develop and evaluate policies to address social and economic issues. The Financial Programming and Policies course would provide you with the skills and knowledge necessary to succeed in this role. It would help you develop a strong understanding of public policy and its impact on society.
Economic Consultant
Economic Consultant
Economic consultants provide advice to businesses and governments on economic issues. They analyze data, develop models, and make recommendations on how to improve economic performance. The Financial Programming and Policies course would provide you with the skills and knowledge necessary to succeed in this role. It would help you develop a strong understanding of economic analysis and policy development.
International Economist
International Economist
International economists analyze and interpret economic data and trends in different countries and regions. They advise governments and organizations on international economic policy and trade. The Financial Programming and Policies course would provide you with the skills and knowledge necessary to succeed in this role. It would help you develop a strong understanding of international economics and trade policy.
Private Equity Analyst
Private Equity Analyst
Private equity analysts analyze and invest in private companies. They help companies grow and expand their businesses. The Financial Programming and Policies course would provide you with the skills and knowledge necessary to succeed in this role. It would help you develop a strong understanding of private equity and investment analysis.
Financial Advisor
Financial Advisor
Financial advisors provide advice to individuals and families on financial planning and investment strategies. They help clients achieve their financial goals and plan for the future. The Financial Programming and Policies course may be useful for this role. It would help you develop a strong understanding of financial planning and investment strategies.
For more career information including salaries, visit:
OpenCourser.com/course/7d56mr/financial
Reading list
We've selected 26 books
that we think will supplement your
learning. Use these to
develop background knowledge, enrich your coursework, and gain a
deeper understanding of the topics covered in
Financial Programming and Policies, Part 2: Program Design.
Save
Provides a comprehensive overview of financial programming and policies. It covers topics such as fiscal policy, monetary policy, and exchange rate policy.
This IMF publication provides a collection of working papers on financial policies and economic development. It covers a wide range of topics, including the role of financial development in economic growth, the determinants of financial development, and the challenges of financial development in developing countries.
Save
This IMF publication provides a comprehensive overview of fiscal policy and its role in economic growth. It covers a wide range of topics, including the design of fiscal policy, the impact of fiscal policy on the economy, and the challenges of fiscal policy in developing countries.
Save
This IMF publication provides a comprehensive overview of monetary policy and its role in economic growth. It covers a wide range of topics, including the design of monetary policy, the impact of monetary policy on the economy, and the challenges of monetary policy in developing countries.
Save
Provides a comprehensive overview of the economics of emerging markets. It covers a wide range of topics, including the challenges of economic development, the role of government in emerging markets, and the international financial system.
This IMF publication provides a comprehensive overview of macroeconomic policy and adjustment. It covers a wide range of topics, including the design of macroeconomic policy, the impact of macroeconomic policy on the economy, and the challenges of macroeconomic policy in developing countries.
Provides a comprehensive overview of international finance and open economy macroeconomics. It covers topics such as exchange rates, international capital flows, and macroeconomic policy.
Save
Provides a comprehensive overview of monetary and fiscal policy. It covers topics such as inflation, unemployment, and economic growth.
Comprehensive textbook on international economics, covering trade theory, economic growth, and international finance. It provides a strong foundation for understanding the macroeconomic issues faced by emerging market economies.
Save
Provides a comprehensive overview of economic forecasting principles and practice. It covers a wide range of topics, including the use of time series models for forecasting, the analysis of macroeconomic data, and the evaluation of forecasting models.
Provides a comprehensive overview of the econometrics of macroeconomic forecasting. It covers a wide range of topics, including the use of time series models for forecasting, the analysis of macroeconomic data, and the evaluation of forecasting models.
Provides a comprehensive overview of economic growth theory and policy. It covers a wide range of topics, including the determinants of economic growth, the role of government in economic growth, and the challenges of economic growth in developing countries.
Provides a comprehensive overview of financial development and economic growth. It covers a wide range of topics, including the role of financial development in economic growth, the determinants of financial development, and the challenges of financial development in developing countries.
Provides a comprehensive overview of international finance and open economy macroeconomics. It covers a wide range of topics, including the balance of payments, exchange rate determination, and international monetary policy.
Provides a comprehensive overview of macroeconometrics and time series analysis. It covers a wide range of topics, including the estimation of time series models, the analysis of macroeconomic data, and the use of time series models for forecasting.
Save
Provides a practical guide to macroeconomic policymaking in emerging market economies. It covers topics such as fiscal policy, monetary policy, and exchange rate policy.
Save
Provides a clear and concise introduction to the macroeconomics of growth and development. It covers a wide range of topics, including the determinants of economic growth, the role of government in economic development, and the challenges of economic development in developing countries.
This textbook provides a clear and concise introduction to macroeconomic theory and policy. It covers both short-run and long-run macroeconomic issues, and it includes a number of case studies that illustrate the application of macroeconomic principles to real-world problems.
Save
Provides a comprehensive overview of development economics. It covers topics such as economic growth, poverty, and inequality.
Provides a comprehensive overview of the economics of growth. It covers topics such as economic growth, innovation, and human capital.
Save
Commonly used economics textbook at academic institutions for introductory economics courses. It covers both microeconomics and macroeconomics, providing background knowledge that may be useful for this course.
Provides a comprehensive overview of the economics of emerging markets. It covers topics such as economic growth, inflation, and financial markets.
Provides a comprehensive overview of the macroeconomic challenges faced by emerging market economies. It covers topics such as exchange rate regimes, inflation, and fiscal policy.
Provides a comprehensive overview of macroeconomics for developing countries. It covers topics such as economic growth, inflation, and unemployment.
Provides a comprehensive overview of econometric analysis of cross section and panel data. It covers a wide range of topics, including the estimation of linear regression models, the analysis of variance, and the estimation of nonlinear models.
Provides a detailed overview of the international financial system. It covers topics such as foreign exchange markets, international investment, and risk management.
For more information about how these books relate to this course, visit:
OpenCourser.com/course/7d56mr/financial
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Effort
5 to 6 hours per week for 10 weeks
Level
Introductory
Via
edX
Institution
The International Monetary Fund
Instructors
Francesco Luna
Alfredo Baldini
Evan Tanner
Adina Popescu
Antonio David
Session
January 1, 2024
- April 15, 2024
Language
English
Transcript
English
Good to know
Geared towards students whose interests lie in economics
Develops skills in macroeconomic policy analysis, crucial for economists
Taught by Francesco Luna, Adina Popescu, Antonio David, Alfredo Baldini, and Evan Tanner, experts in economics
Examines relevant economic vulnerabilities inherent in emerging market economies
Provides hands-on experience in preparing macroeconomic policy program scenarios
Supported by the International Monetary Fund (IMF)
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