Revival of the Applied Economic Policy Course

Following a hiatus of two years due to the pandemic, the Joint Vienna Institute, in collaboration with its partners, is relaunching the  Applied Economic Policy (AEP) course. 

The AEP has been an emblematic course in the JVI’s 30 years of existence. It will continue to illustrate the collaborative nature of the JVI by including the primary partners from the IMF, OeNB and BMF, and contributing members such as the World Bank and the World Trade Organization. The course also mirrors the evolution of the training needs of the region over time. When it was launched in 1992, the course was 4 months long, and included among others visits of factories as part of the training process for officials from transition countries. Over time, the course was shortened significantly, reflecting the difficulty of sending government officials for prolonged periods of time, but more importantly the training needs became more focused given the region’s great strides. 

This 29th edition of the AEP will be launched in a modernized form: a new learning approach will be provided, integrating some of the pedagogical experiences learned throughout the pandemic to include a blend of online, virtual and classroom training. This will maximize learning gains. In addition, the course will be substantially updated content-wise and reflect the latest thinking on macroeconomic management, financial sector issues, trade policy and structural issues.

The AEP will span over a period of about 10 months from February 2022, starting with online learning supported by virtual interaction from February to May. This will be followed by a 5-week face-to-face course in Vienna and completed with virtual sessions aiming at deepening the knowledge acquired during the course. 

For the pre-Vienna part, participants will take an IMF online course on Macroeconomic Diagnostics, to ensure that they are familiar with the key macroeconomic concepts required for efficient, hands-on teamwork in Vienna.  Prior to their arrival, participants will also work on team presentations, with continuous support from the JVI staff, to apply some of the knowledge they have learned in the online course.

The face-to face part of the course will provide a broad exposure to macroeconomic issues faced by policymakers and aim to create a strong peer-network. The participants will strengthen their skills in analyzing the business cycle and assessing financial stability. They will also focus on practical application of trade policies in JVI countries as well as on emerging topics like inclusive growth and political economy of reforms. The teaching method will comprise a combination of lectures—with the focus on drilling into the complex topics—workshops and case studies. In addition, presentation and communication skills will be taught by professional coaches.

The post-Vienna segment aims to cement a strong JVI-alumni relationship and is expected to comprise a few short virtual sessions between September and November. The aim will be to cover some additional content that was not captured in the Vienna section, with the focus again on virtual training and peer-learning.

A cohort of 30 promising young professionals from the JVI region has been selected, covering a diverse geographical, gender and institutional background.  

Patrick Imam, Deputy Director, JVI

Tibor Hlédik, Lead Economist, JVI

Tatiana Evdokimova, Economist, JVI