The 2018 Course Program: A View by Main Areas

The JVI is continuously updating its training program to meet the evolving needs of its clients. For 2018, we are building upon the 2017 offering, including the revamped IMF Institute for Capacity Development curriculum and courses offered by the Austrian Authorities and other JVI stakeholders. We further extend our program by two new courses – one on Basel regulation and one on human resources issues for central banks.

In this article, we want to give some guidance on the <link training course-schedules course-schedule-2018.html>2018 training curriculum by breaking it down to different areas to facilitate course selection by country officials in various institutions and departments. When deciding about a course, we recommend to follow the <link training course-categorization.html>progression tables that categorize the courses offered by the IMF, JVI and Austrian Authorities by areas and provide an illustrative path that could be taken to progress from the introductory course in each category to the intermediate and advanced level offerings.

General Macroeconomic Analysis

Most of the JVI’s 2018 courses in this area will be offered by IMF. They include well-established courses such as <link training course-schedules course-schedule-2018 course>Financial Programming and Policies and <link training course-schedules course-schedule-2018 course>Macroeconomic Diagnostics as well as the advanced and recently revamped econometrics course on <link training course-schedules course-schedule-2018 course>Macroeconomic Forecasting and Analysis and modelling-focused course on <link training course-schedules course-schedule-2018 course>Monetary and Fiscal Policy Analysis with DSGE Models. In this area, the ICD curriculum also features the more specific courses on <link training course-schedules course-schedule-2018 course>Macroeconomic Management in Resource-Rich Countries and <link training course-schedules course-schedule-2018 course>Vulnerability Diagnostics.

The Oesterreichische Nationalbank (OeNB) will run the course on <link training course-schedules course-schedule-2018 course>Macrofinancial Stability in Central, Eastern and Southeastern Europe.

As in previous years, the JVI, in collaboration with all JVI stakeholders, will organize its flagship course on <link training course-schedules course-schedule-2018 course>Applied Economic Policy, which began with the founding of the JVI and has evolved over the years. Once as long as six months, it is now seven weeks in duration, and targeted at younger staff members who show high promise for future advancement in their public sectors. Indeed, a number of current or former ministers or central bank governors are alumni of the AEP course!

Financial Sector Issues

The IMF offers here two courses in the area of financial market analysis and development – <link training course-schedules course-schedule-2018 course>Financial Markets and Instruments and <link training course-schedules course-schedule-2018 course>Financial Development and Financial Inclusion - and two courses on financial stability monitoring and micro- and macro-prudential policies - <link training course-schedules course-schedule-2018 course>Financial Sector Surveillance and <link training course-schedules course-schedule-2018 course>Financial Sector Policies. On top of that, the well-known and highly-demanded specialized IMF courses on <link training course-schedules course-schedule-2018 course>Bank Restructuring and Resolution and <link training course-schedules course-schedule-2018 course>Systemic Macrofinancial Risk Analysis will be run, too.

The OeNB will offer its courses on <link training course-schedules course-schedule-2018 course>Financial Stability Stress Testing for Banking Systems and <link training course-schedules course-schedule-2018 course>Financial Education.

The JVI will continue delivering high-level courses with partner central banks such as the OeNB, Deutsche Bundesbank (BBk), the Bank of England, and the Banque de France on <link training course-schedules course-schedule-2018 course>Banking Supervision within the Basel Framework, <link training course-schedules course-schedule-2018 course>Macroprudential Tools, and <link training course-schedules course-schedule-2018 course>Financial Stability Policy of Central Banks, respectively.

In addition, starting in 2018, we are newly collaborating with the Bank for International Settlements to present another course relevant to financial sector professionals, the <link training course-schedules course-schedule-2018 course>Basel Framework and the Challenges of Implementation. This new course will discuss the latest developments in Basel regulations, review the key Basel III requirements for banks’ solvency and liquidity, and explore relevant country experiences with implementing Basel III over the past few years.

Fiscal Policy

In the fiscal area, the IMF will offer the courses on <link training course-schedules course-schedule-2018 course>Fiscal Policy Analysis, <link training course-schedules course-schedule-2018 course>Fiscal Sustainability, and <link training course-schedules course-schedule-2018 course>Fiscal Frameworks, as well as the specialized offering on <link training course-schedules course-schedule-2018 course>Medium-Term Budgetary Frameworks, Fiscal Rules and Fiscal Councils.

The Austrian Federal Ministry of Finance (BMF) will present its traditional fiscal courses such as the well-known <link training course-schedules course-schedule-2018 course>Sound Fiscal Institutions and offerings of <link training course-schedules course-schedule-2018 course>Public Financial Management and Administrative Reforms and <link training course-schedules course-schedule-2018 course>Public-Private Partnerships.

Monetary, Exchange Rate, and Capital Account Policies

In the monetary, exchange rate, and capital flow areas, IMF offers courses on <link training course-schedules course-schedule-2018 course>Monetary Policy, <link training course-schedules course-schedule-2018 course>Exchange Rate Policy, and <link training course-schedules course-schedule-2018 course>Managing Capital Flows: Macroeconomic Analysis and Policies, and the advanced course on <link training course-schedules course-schedule-2018 course>Model-Based Monetary Policy Analysis and Forecasting.

The OeNB will run its course on <link training course-schedules course-schedule-2018 course>Cash Circulation and Payment Systems in Austria, while the JVI will again organize its joint course with the BBk and the OeNB on <link training course-schedules course-schedule-2018 course>Monetary Policy Implementation.

Structural Issues and Economic Integration

Structural topics are experiencing an increasing interest. In 2018, we will repeat the JVI’s extremely popular <link training course-schedules course-schedule-2018 course>Structural Reforms course, offered in collaboration with many of our Contributing Members and stakeholders. The BMF will again present their courses on <link training course-schedules course-schedule-2018 course>Competitiveness, Growth and Crisis, <link training course-schedules course-schedule-2018 course>Foreign Direct Investment Policies, <link training course-schedules course-schedule-2018 course>Inclusive Growth (in cooperation with IMF), and <link training course-schedules course-schedule-2018 course>Public Governance and Structural Reforms.

The JVI training includes three courses centered on supporting countries on their way to economic and monetary integration: <link training course-schedules course-schedule-2018 course>Challenges for Candidate and Potential Candidate Countries in the EU and EMU Accession Process, jointly organized by the OeNB, BMF and the European Central Bank, Applied European Union Economic Policy related to the Economic and Monetary Union, organized by the European Commission, and <link training course-schedules course-schedule-2018 course>Integration in Europe: European Union and Eurasian Economic Union, offered by the OeNB and BMF.

Statistics, Legal Issues and Other Topics

The 2018 JVI curriculum again features additional courses that complement the traditional macro-financial focus of most our offerings.

In the statistics area, the IMF will deliver courses on <link training course-schedules course-schedule-2018 course>Compilation of Balance of Payment Statistics, <link training course-schedules course-schedule-2018 course>Government Finance Statistics, <link training course-schedules course-schedule-2018 course>National Accounts Statistics, <link training course-schedules course-schedule-2018 course>Residential Property Price Indexes, and <link training course-schedules course-schedule-2018 course>Securities Statistics. They will be complemented by the OeNB course on <link training course-schedules course-schedule-2018 course>Monetary and Financial Statistics Collected and Compiled by the ESCB.

In the legal issues area, the IMF will offer courses on <link training course-schedules course-schedule-2018 course>Corporate and Household Insolvency, <link training course-schedules course-schedule-2018 course>Legal Aspects of International Financial Institutions, and <link training course-schedules course-schedule-2018 course>Legal Framework for Central Banking.

The European Investment Bank will repeat its seminar on <link training course-schedules course-schedule-2018 course>Investment and Investment Finance, while the World Bank will continue delivering courses in the area of debt management (<link training course-schedules course-schedule-2018 course>Designing Government Debt Management Strategies, <link training course-schedules course-schedule-2018 course>Implementing Government Debt Management Strategies, and <link training course-schedules course-schedule-2018 course>Government Debt Management Performance Assessment Tool) and audit (Audit Training-of-Trainers and <link training course-schedules course-schedule-2018 course>Internal Audit Training-of-Trainers).

The European Bank for Reconstruction and Development and the World Trade Organization will again deliver a number of specialized courses of interest in their respective areas of expertise.

Finally, reflecting a timely response to demand raised at last year’s meeting of training directors, the OeNB and the BBk will present a new joint course in March 2018 on <link training course-schedules course-schedule-2018 course>HR Issues and Compliance for central banks.

Online Learning

While face-to-face training will constitute the core of the JVI’s activities, we also work with the IMF on the delivery of an increasing number of <link training online-learning.html>online courses. We should mention that successful completion of online courses will boost an applicant’s chances of being selected for face-to-face courses in Vienna.


Adam Gersl, Senior Economist, JVI


Note: In case a course is offered twice a year at the JVI, the hyperlink leads to the first delivery.