The Applied Economic Policy (AEP), launched in early 1990s, has long been JVI’s flagship course, renowned for its outstanding reputation and distinguished alumni. This course aims to enhance the capabilities of participants to formulate and implement economic policies and to serve as policy analysts and advisors. The 2026 AEP course will feature a combination of online, virtual, and classroom segments (see below).
TARGET GROUP | Young officials employed by the public sector in JVI target countries. The AEP course is demanding, requiring highly motivated individuals, a university degree in economics or a related field, a minimum of two years’ professional experience, and proficiency in English. Knowledge of macroeconomic modeling would be helpful but is not strictly required. Only individuals employed in the public sector are eligible to apply.
DESCRIPTION | The AEP course is comprehensive, covering macroeconomic concepts and policies, financial sector issues, structural issues, the Austrian political and economic system, as well as interpersonal and presentation skills. The course is designed to provide participants with a comprehensive understanding of the many facets of economic policymaking, to strengthen their analytical skills, and to enable them to formulate and implement sound economic policies.
The AEP course is offered jointly with several JVI partners. Lecturers, primary practitioners from member organizations, cover both practical and theoretical aspects of policy formulation. The Vienna segment comprises lectures, workshops, case studies, and participant presentations.
APPLICATION INSTRUCTIONS | Selection is competitive, based on educational background, relevant work experience and past course performance (if applicable). Applicants must submit proof of their English language proficiency. Applicants must also submit an application agreement and reference from a senior official or direct supervisor in the agency where they work. Selected participants from an IDA-eligible country may apply to the JVI for a transportation subsidy to cover part of their travel costs.
Course components.
Prior to the Vienna segment (April-May 2026)
Selected segments of IMF courses (MDSx and MPAFx) and virtual sessions with the JVI faculty
The initial virtual session (late March/early April) will provide an overview of the AEP program. Participants will then be asked to complete selected modules of MDSx and MPAFx in April and May, which will enhance and refresh their understanding of macroeconomic diagnostics and policies. The completion of these course segments typically requires 6-8 hours a week; they are self-paced and can be taken at any time during April and May. Completing the virtual segment will be a requirement for participating in the Vienna segment of the AEP course. Participants will then join consultation hours with the AEP course team for one or two sessions in late May to discuss questions from the online modules.
Vienna Segment (June 8 – July 3, 2026)
Presentation and Communication Skills
Communication Coaches/JVI (2 days)
This segment helps participants hone their presentation skills and public communication proficiency, fosters teamwork, and provides tips and tricks for effective negotiating and influencing.
Macroeconomic Management Issues
IMF/JVI (10 days)
This segment covers the economic analysis underlying the design of macroeconomic policies, focusing on business cycle fluctuations, monetary and fiscal policy and structural reforms. It explores the key economic relationships relevant for policy analysis and forecasting. It focuses on interlinkages between the different sectors of an economy, including the analysis of internal and external balance. Key topics that are covered include macroeconomic stabilization, structural policies and economic growth, public debt sustainability, fiscal rules, monetary policy and external sector assessment. In workshops, participants analyze macroeconomic developments on country cases, analyze the transmission of shocks and of macroeconomic policies, make baseline projections, assess alternative scenarios and debate policy issues relevant for the country.
Financial Sector Issues
OeNB-JVI (3 days)
Topics include banking regulation, macroprudential analysis, and crisis management, with contributions from the Austrian National Bank and private sector practitioners. Practitioners from the private sector will also intervene to discuss the role of international banking groups in the wide region.
Austrian and European Political and Economic Issues
Austrian Authorities (2 days)
Participants are introduced to the JVI’s host country, Austria. They learn about the economic issues it faces and the policies that are designed and implemented to respond to those challenges. European integration issues figure prominently, given that Austria is a member of the European Monetary Union. Participants will learn about Austria's economic challenges and policies, with interactions with Austrian policymakers and researchers.
Trade Policy and International Trade Regimes
WTO (1 days)
Participants will explore international trade theory, trade policy, the multilateral trading system, and WTO Agreements. This course provides a deeper understanding of the institutions, rules and processes shaping trade policy, with special emphasis on the role of WTO Agreements and their disciplines, and on the negotiations under the Doha Development Agenda.
Structural Issues
World Bank (1 days)
This short segment covers topics such as improving economic governance and ensuring inclusiveness.
