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 have completed the online Macroeconomic Management in Resource-Rich Countries (MRCx) course.
DESCRIPTION | This two-week 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; managing fiscal policy; macroeconomic policy coordination; and managing public-sector assets in RRCs. The course incorporates lectures, hands-on workshops, debates, and case studies.
COURSE 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 greater transparency in the management of natural resources, including in terms of the appropriate institutional structures for sovereign wealth funds