JVI plans to resume classroom training as soon as the COVID-19 health situation allows. This course is scheduled to take place at JVI, but may have to be delivered virtually in case safe travel to and in-person training in Vienna will not be possible. The decision to offer virtual instead of onsite training, or a combination of the two (hybrid), will be made within two months of the course start date.
Vaccination against Covid-19 may be required before coming to Vienna.
TARGET GROUP | Mid-level to senior officials from central banks, ministries of finance, and other government agencies tasked with the design and execution of policies in resource-rich countries (RRCs).Participants are expected to have an advanced degree in economics or equivalent experience and be proficient in the use of Microsoft Excel. It is strongly recommended that applicants first complete the online Macroeconomic Management in Resource-Rich Countries (MRCx) course.
DESCRIPTION | This course, presented by the Institute for Capacity Development, discusses macroeconomic policy issues and challenges faced by RRCs. The course provides participants with an understanding of: the macroeconomics of growth and diversification, fiscal policy management, macroeconomic policy coordination, and public-sector asset management in RRCs. The course incorporates lectures, hands-on workshops, debates, and case studies.
OBJECTIVES | Upon completion of this course, participants should be able to:
• Analyze economic performance in resource-rich countries, including in terms of growth, inclusiveness, diversification, and sustainability.
• Design appropriate fiscal frameworks, applying suitable fiscal benchmarks to determine whether to consume, save, or invest the proceeds from the sale of natural resources.
• Identify the appropriate macroeconomic policy responses to commodity price shocks.
• Design policies to promote transparency in the management of natural resources, including in terms of the appropriate institutional structures for sovereign wealth funds.