Applied Economic Policy - Cancelled
JVI is gradually resuming classroom delivery. 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 5 weeks of the course start date.
AEP
TARGET GROUP | Young officials employed by the public sector in JVI target countries. The structure and content of the course is rigorous, and applicants must be highly motivated individuals with a good understanding of modern market economics and financial analysis; a university degree in economics or a related field, a minimum of two years’ professional experience, and a good command of the English language are required. Knowledge of practical econometric techniques used in the analysis of micro- and macroeconomic issues would be helpful.
DESCRIPTION | The AEP course is comprehensive, covering macroeconomic concepts and policies, financial sector issues, trade policy, the Austrian political and economic system, as well as interpersonal and presentation skills. It provides participants with an overview of the many facets of economic policymaking, to strengthen their analytical skills and to enable them to formulate economic policy recommendations and advice. The AEP course is offered jointly by the JVI’s sponsoring members, with all lecturers teaching subjects relevant to their respective organization’s area of expertise. Most lecturers are practitioners from member organizations, and they cover both practical and theoretical aspects of policy formulation. The segment of the course delivered in Vienna comprises lectures, small-group workshops, case studies, and participant presentations to foster peer-learning and networking. Prior to coming to Vienna, participants will be expected to complete the IMF’s online Macroeconomic Diagnostics course (or parts of it for participants who have already taken this course in the past 3 years). The AEP course will also include a few virtual sessions before and after the Vienna segment.
The AEP course accepts 30 participants. The program is expected to consist of the following components:
Prior to the Vienna segment (February-May 2022)
Online Macroeconomic Diagnostics course of the IMF
This self-paced online course is designed to strengthen participants’ ability to assess comprehensively a country’s macroeconomic situation, including the current state of the economy; the stance of fiscal and monetary policy; financial stability; vulnerabilities in the different sectors; and the medium-term outlook, especially the sustainability of public and external debt.
Virtual sessions with JVI faculty
A first virtual session with JVI faculty will be held after participants have been selected to give them an overview of the AEP program and timeline. The focus will then be on the activities related to the Macroeconomic Management Issues segment (see below). Office consultation with JVI faculty will be offered from mid-March to support participants as needed with the online Macroeconomic Diagnostics course. Participants will also be expected to prepare short presentations in small groups on selected macroeconomic issues facing their countries, which they will deliver in Vienna to their peers. Assignments will be provided by JVI faculty, which will offer additional office consultation to provide guidance on presentations from mid-April.
Vienna Segment (June 6 – July 8, 2022)
Presentation and Communication Skills - Communication Coaches/JVI (2 days)
This segment helps participants hone their presentation skills and public communication proficiency, fosters teamwork, and provides tips and tricks for effective negotiating and influencing. Some of these tips can then be applied in the following weeks, particularly in the highly interactive Macroeconomic Management Issues segment. An international team of professional communication coaches delivers this segment.
Austrian Economic Challenges and Policy Responses - Austrian Authorities (3 days)
Participants are introduced to the JVI’s host country, Austria. They learn about the economic issues Austria faces and the policies that are designed and implemented to respond to those challenges. European integration issues figure prominently, given that Austria is a member of the European Monetary Union. During this segment, participants get to interact with Austrian policymakers and researchers from the Vienna Institute for International Economic Studies (wiiw).
Macroeconomic Diagnostics and Management Issues - IMF/JVI (2 Weeks)
This segment focuses on the economic analysis underlying the design of macroeconomic policies and IMF advice. Given that the participants will have taken the Macroeconomic Diagnostics course online, which covers many of the issues, the focus of this segment will be on deepening the participants’ understanding of the online course material and introducing additional tools and activities better delivered in person. Those will include peer-discussions and presentations, as well as workshops, providing hands-on skills in analysing the business cycle. The expected involvement of a few IMF resident representatives in JVI countries will allow participants to debate some issues with practitioners familiar with specific JVI country cases.
Financial Sector Issues - OeNB (1 week)
This segment provides a comprehensive introduction to financial stability. It covers a wide range of topics from banking regulation to macroprudential policy analysis. As a starting point, it reviews the general business models of financial institutions, including FinTechs, with particular focus on related challenges. It then goes on to discuss the Global Financial Crisis (GFC) and the economic rationale for financial regulation, especially in the banking sector. This segment embeds the debate in a broader international context of financial stability–also focusing on the current developments due to the Covid-19 pandemic.
Trade Policy and International Trade Regimes - WTO (3 days)
This course segment covers international trade theory, trade policy, and the international trading system. The first part combines insights from the economics of trade and trade policy with practical applications that focus on specific conditions of transition countries. The second part deals with the multilateral trading system and WTO Agreements and negotiations.
Structural Issues and Emerging Topics - World Bank, JVI, Other Partners (2 days)
This short segment provides an introduction to topics at the top of the international policy agenda, such as the role of economic policies to fight climate change and make growth more inclusive and sustainable.
After the Vienna segment
A few short virtual sessions are expected in the months following the Vienna segment, to cover additional content and foster networking and peer-learning among participants.
EVALUATION | Participants will evaluate and provide feedback for each course segment and for the overall course. They are also asked to comment on how they will apply the knowledge they have obtained to their jobs when they return to their home countries. Each participant receives a certificate after successfully completing the course. Participants are evaluated throughout the course based on their comprehension of the material, their contributions to the discussions, and their teamwork skills. The most engaged participants are awarded a letter of excellence.
ADMINISTRATIVE ARRANGEMENTS | Country authorities are expected to propose candidates for this course. Final selection by the JVI is expected to be on a competitive basis, including educational background and relevant work experience. Applicants must submit proof of their English language proficiency. There are no fees for attending the AEP course, but participants must cover their own transportation costs. The exception is if the official is from an IDA-eligible country who may then apply to the JVI for a transportation subsidy to cover part of the travel costs, if the official’s institution certifies that it is unable to cover the full costs. Participants are accommodated at the JVI Residence free of charge and receive a daily living allowances.
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