Analysing Macrofinancial Linkages and Interacting with International Institutions

TARGET GROUP | The course is particularly valuable for mid- to senior-level officials from central banks and ministries of finance or economy who work in economic or financial analysis and research and wish to strengthen their understanding of macrofinancial risks and policy interactions, while gaining practical experience in engaging and negotiating with international institutions. More junior staff can also benefit from developing a deeper understanding of macrofinancial policy challenges and crisis management frameworks. Participants should ideally have an advanced degree in economics or finance and experience with macrofinancial stability assessments. The course is especially relevant for participants from CESEE EU member states and EU candidate and potential candidate countries.

DESCRIPTION | This one-week course provides an in-depth understanding of macrofinancial linkages and risk assessment in an environment of evolving economic and financial challenges. The course covers key policy areas relevant for macrofinancial stability, including fiscal, monetary, prudential, and structural policies, as well as the interactions among them. Participants will also explore the role of international institutions in supporting economic adjustment efforts and safeguarding financial stability, including the design of financial assistance programs and related policy conditionality.

A distinctive feature of the course is its strong practical orientation. Concepts and analytical tools introduced in lectures and workshops are applied in an immersive, multi-stage negotiation simulation. Participants assume the roles of country authorities and representatives of international institutions, including the IMF and, where applicable, relevant EU institutions, and work together to design and negotiate an adjustment program for selected countries in the region facing hypothetical macrofinancial stress. Through several rounds of negotiations, participants gain firsthand experience in balancing economic priorities, assessing policy trade-offs, and building consensus under challenging circumstances.

Previous participants have praised the course for its practical relevance, comprehensive coverage of macrofinancial interlinkages, well-balanced combination of analytical and policy perspectives, and interactive delivery through roleplay exercises and workshops.

Course program from the latest delivery

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Course Details

Start: 20270927Sep 27
End: 20271001Oct 01

Language: English

Sponsoring Organization: OeNB/JVI/NBS

Admin Arrangements


Application Deadline: June 27, 2027

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