Macroeconomics Advanced - virtual training

Training objectives 

This virtual training is meant for all colleagues in HQ and Delegations who manage or coordinate financial and technical assistance to Low-Income Countries (LICs) and Emerging Markets (EMs) in the context of the Global Gateway Investment Agenda (e.g. guarantees, blending and budget support). 

Participants must have followed the Macro I – Basics course or have equivalent and proven background/experience in macroeconomics otherwise.

A conducive investment climate is essential to foster investments, allowing for socio-economic transformation, boosting the development and competitiveness of the private sector, creating jobs, and deepening trade integration. It requires a sound macroeconomic framework, or helping restoring imbalances where needed, for long-term investments favouring growth and transition to a green economy. Particular attention must be paid to debt vulnerabilities, solutions to address these and supporting debt management capacities in partner countries. This implies sustainable fiscal policies, also to cater for the maintenance of investments and associated running costs. Contributing to debt sustainability is a policy objective for the EU, particularly when designing and implementing Global Gateway projects under the European Fund for Sustainable Development+ (EFSD+).

Specifically, the objectives of the course on Macro II: Advanced Macroeconomics is to enhance attendant’s capacity to engage in macroeconomic discussions by:

• understanding the main challenges of monetary and fiscal policy;
• understanding the impact of macro and structural policies on economic performance;
• understanding the main determinants of a debt sustainability analysis (including policy and economic performance);
• understanding the macroeconomic impact of recent shocks to the global economy — e.g. COVID crisis or the war in Ukraine;
• using these concepts in the analysis of country’s economic performance to support the rollout of the Global Gateway Investment Agenda and assess country’s eligibility to budget support including the financing of public policies in relation to medium-term fiscal frameworks.

Content 

The training will focus on the following:

• Recapitulation from Macro I
• Monetary Policy: theoretical aspects and implementation
• Role of Fiscal Policy for stabilizing the economy
• Public Debt and Debt Sustainability Analysis (DSA)
• Special Topic and Discussion: Macroeconomic developments and outlook in LICs - Macroeconomic Impact and Prospects in LICs in the Context of the War in Ukraine

During the training the participants will have to work on country case studies.

This will serve as an in-depth course building on learning from the MACRO I course before.

Target audience 

INTPA staff at Headquarters and in Delegations. It is required to have completed the Macro I – Basics course or to have proven background/experience in macroeconomics otherwise.

Open to staff from NEAR, MENA, ECHO, TRADE, FPI, and EEAS, in Delegations and at Headquarters.  Also open to EU Member States’ staff upon seats availability and to other stakeholders upon request. Participants should have completed the Macro I – Basics course or have equivalent and proven background/experience in macroeconomics otherwise.

Training materials : The presentation is available for download below.