The 2019 Course Program

At the JVI we aim to offer a balanced set of courses that will appeal to public officials in government ministries and central banks throughout the region. Our hope is that we can facilitate career development by offering a mix of introductory, intermediate, and advanced topics in a range of subjects that are relevant for macroeconomic policy management.

In this article we offer some guidance on the <link training course-schedules course-schedule-2019.html>2019 training curriculum by breaking it down to different broad subject areas, with the aim of facilitating course selection. When deciding about a course, we recommend following the <link training course-categorization.html>progression tables that categorize the courses offered by the IMF, JVI and Austrian Authorities by subject area, and which 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

The IMF will offer most of the JVI’s 2019 courses in this area, such as the well-established course on <link training course-schedules course-schedule-2019 course>Financial Programming and Policies (next to the one in April, there will also be <link training course-schedules course-schedule-2019 course>one in October), for which it is strongly recommended that applicants complete the <link http: imf.smartcatalogiq.com en current catalog online-learning-ol>online FPP courses (FPP.1x and FFP.2x) first before enrolling in this course. (These are now offered on a self-paced basis to accommodate work pressures participants may face.) Other highly-demanded courses include <link training course-schedules course-schedule-2019 course>Macroeconomic Diagnostics (in March and also <link training course-schedules course-schedule-2019 course>one in September), the advanced econometrics course on <link training course-schedules course-schedule-2019 course>Macroeconomic Forecasting and Analysis and a highly-technical course on <link training course-schedules course-schedule-2019 course>Monetary and Fiscal Policy Analysis with DSGE Models. In this area, the ICD curriculum also features more specific courses, such as <link training course-schedules course-schedule-2019 course>Macroeconomic Management in Resource-Rich Countries and <link training course-schedules course-schedule-2019 course>Vulnerability Diagnostics.

The Oesterreichische Nationalbank (OeNB) will run the course on <link training course-schedules course-schedule-2019 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-2019 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 five weeks in duration, and targeted at younger staff members who show high promise for future advancement in their public sectors.

Financial Sector Issues

On financial market analysis and development, the IMF is offering courses on <link training course-schedules course-schedule-2019 course>Financial Markets and Instruments and <link training course-schedules course-schedule-2019 course>Financial Development and Financial Inclusion. There are two courses on financial stability monitoring and micro- and macro-prudential policies—<link training course-schedules course-schedule-2019 course>Financial Sector Surveillance (in addition to the one in March there will also be <link training course-schedules course-schedule-2019 course>one in July) and <link training course-schedules course-schedule-2019 course>Financial Sector Policies. On top of that, the IMF will run a specialized IMF course on <link training course-schedules course-schedule-2019 course>Systemic Macrofinancial Risk Analysis.

These courses are complemented by an OeNB course on <link training course-schedules course-schedule-2019 course>Financial Stability and Supervisory Stress Testing for Banking Systems.

The JVI will continue delivering high-level courses with partner central banks such as the OeNB, Deutsche Bundesbank (BBk), the Bank of England (BoE), and the Banque de France (BdF) on <link training course-schedules course-schedule-2019 course>Banking Supervision within the Basel Framework, <link training course-schedules course-schedule-2019 course>Interaction of Monetary and Financial Stability Policies, and <link training course-schedules course-schedule-2019 course>Financial Stability Policy of Central Banks, respectively.

Fiscal Policy

In the fiscal area, the IMF will offer the courses on <link training course-schedules course-schedule-2019 course>Fiscal Policy Analysis (next to the one in May there is also <link training course-schedules course-schedule-2019 course>one in September), <link training course-schedules course-schedule-2019 course>Fiscal Sustainability (next to the one in July there is also <link training course-schedules course-schedule-2019 course>one in December) and <link training course-schedules course-schedule-2019 course>Fiscal Frameworks, as well as the specialized offering on <link training course-schedules course-schedule-2019 course>Medium-Term Budgetary Frameworks, Fiscal Rules and Fiscal Councils. The IMF will also deliver a workshop on <link training course-schedules course-schedule-2019 course>Gender Budgeting.

The Austrian Federal Ministry of Finance (BMF) will present its traditional fiscal courses such as the well-known <link training course-schedules course-schedule-2019 course>Sound Fiscal Institutions and offerings of <link training course-schedules course-schedule-2019 course>Public Financial Management and Administrative Reforms and <link training course-schedules course-schedule-2019 course>Public-Private Partnerships.

These courses will be complemented by World Bank courses on <link https: www.jvi.org training course-schedules course-schedule-2019 course external-link-new-window external link in new>Subnational Debt and Fiscal Management, <link https: www.jvi.org training course-schedules course-schedule-2019 course external-link-new-window external link in new>Assessing and Managing Credit Risk from Contingent Liabilities: A Focus on Government Guarantees, and <link https: www.jvi.org training course-schedules course-schedule-2019 course external-link-new-window external link in new>Fiscal Sustainability and Fiscal Risks Analysis, which are however all by invitation only.

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-2019 course>Monetary Policy, <link training course-schedules course-schedule-2019 course>Exchange Rate Policy, and <link training course-schedules course-schedule-2019 course>Managing Capital Flows: Macroeconomic Analysis and Policies, and the advanced course on <link training course-schedules course-schedule-2019 course>Model-Based Monetary Policy Analysis and Forecasting.

The OeNB will run its course on <link training course-schedules course-schedule-2019 course>Cash Circulation and Payment Systems in Austria. The JVI will again organize its joint course with the BBk and the OeNB on <link training course-schedules course-schedule-2019 course>Monetary Policy Implementation.

We are very pleased and excited this year to offer a new joint course with the BBk on <link training course-schedules course-schedule-2019 course>Monetary Policy Communication. Central bank communication strategies have evolved considerably with the widespread adoption of inflation targeting, and we very much expect this course to appeal to officials in number of JVI target countries.

Structural Issues and Economic Integration

Structural topics are always in high demand. In 2019, the IMF will offer its course on <link training course-schedules course-schedule-2019 course>Inclusive Growth and—in collaboration with the BMF—the course on <link training course-schedules course-schedule-2019 course>Tools and Policies for Inclusive Growth. The JVI will run the popular <link training course-schedules course-schedule-2019 course>Structural Reforms course, offered in collaboration with many of our Contributing Members and stakeholders. The BMF will present their courses on <link training course-schedules course-schedule-2019 course>Competitiveness, Growth and Crisis, <link training course-schedules course-schedule-2019 course>Foreign Direct Investment Policies and <link training course-schedules course-schedule-2019 course>Public Governance and Structural Reforms.

JVI training includes three courses centered on supporting countries on their way to economic and monetary integration: <link training course-schedules course-schedule-2019 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-2019 course>Integration in Europe: European Union and Eurasian Economic Union, offered by the OeNB and BMF.

Statistics, Legal Issues and Other Topics

The 2019 JVI curriculum features additional courses that complement the traditional macro-financial focus of most of our offerings.

The IMF will deliver four statistical courses on <link training course-schedules course-schedule-2019 course>Compilation of Balance of Payment Statistics, <link training course-schedules course-schedule-2019 course>Advanced Course on Monetary and Financial Statistics, <link training course-schedules course-schedule-2019 course>Statistics on International Trade in Goods and Services and <link training course-schedules course-schedule-2019 course>Financial Soundness Indicators.

In the legal issues area, the IMF will offer courses on <link training course-schedules course-schedule-2019 course>Corporate and Household Insolvency, <link training course-schedules course-schedule-2019 course>Legal Aspects of International Financial Institutions, and <link training course-schedules course-schedule-2019 course>Safeguards Assessments of Central Banks.

The European Investment Bank will repeat its seminar on <link training course-schedules course-schedule-2019 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-2019 course>Designing Government Debt Management Strategies, <link training course-schedules course-schedule-2019 course>Implementing Government Debt Management Strategies, and <link training course-schedules course-schedule-2019 course>Government Debt Management Performance Assessment Tool), complemented by an IMF course on <link training course-schedules course-schedule-2019 course>Medium-Term Debt Management Strategy.

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

The OeNB will again offer the course on <link training course-schedules course-schedule-2019 course>Financial Translation and Editing and, in cooperation with the BBk, the course on <link training course-schedules course-schedule-2019 course>HR Issues and Compliance.

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 https: www.jvi.org training online-learning.html external-link-new-window internal link in current>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 and Thomas Richardson, JVI