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Monetary Policy (MP)

6 November, 2017 - 17 November, 2017

Target Audience

Junior to mid-level senior officials from emerging markets and low income countries interested in understanding and analyzing the implementation of monetary policy and its interaction with rest of the economy.


Participants should have an advanced degree in economics or equivalent experience, and be comfortable using Excel and Excel-based applications. This is an overview policy course. It is recommended that participants attend this course after a few general macroeconomic courses, e.g., Financial Programming and Policies (FPP) and Macroeconomic Diagnostic (MDS), or after using existing online modules for these courses, where available.

Course Description

This course, presented by the IMF’s Institute for Capacity Development, is an overview policy course focused on monetary policy regimes, monetary transmission mechanism, and the role of monetary policy in macroeconomic stabilization. The course bridges the gap between theory, empirical evidence, and operational experience, by conveying the optimization problems and tradeoffs involved in monetary policy decisions. The learning progresses from lectures introducing the underlying concepts to hands-on workshops. Relevant case studies are used to reinforce participants’ understanding and to help them compare, contrast, and assess various experiences.

Course Objectives

  • Upon completion of this course, participants should be able to:
  • Analyze how monetary policy decisions are taken under various regimes to deliver price stability.
  • Identify how these decisions are transmitted to the real economy.
  • Evaluate how the economy and monetary policy respond to macroeconomic shocks under various monetary policy frameworks, demonstrated through a group presentation to their peers. Central bank practitioners should also be able to:
  1. Design a sound monetary policy framework.
  2. Prescribe appropriate policies consistent with the chosen framework.
Language: English
Application process: Please apply online


Nov 6, 2017
Nov 17, 2017
Course Number

Application Deadline

Jun 9, 2017