Executive Certificate in Economics for Policymakers

Programme Description

Economic policy decisions are at the heart of policymaking. They involve options for allocating public budgets, dilemmas about how to source public revenues, concerns about the levels of public deficits and debts, understanding how fiscal and monetary policy combine in a complex global economy to achieve economic goals. But they are also about how best to ground economic policy on solid fundamentals while understanding its limits, and how to use data to examine the nature, impact, and effectiveness of different economic policymaking decisions.

Whether directly involved in the design or implementation of economic policies, or indirectly impacted by them while working in the public sector, in private companies or in civil society, policy professionals need to possess a solid understanding of the background and policy toolkit used in economic policymaking. In this context, the aim of this executive training programme is to acquaint busy policy professionals with the main dimensions of contemporary and "cutting edge" economic policy thinking and analysis and provide them with the tools for understanding, designing and/or implementing effective decision making.

The approach of this executive training programme is practical and implementation-oriented: its focus is not on economic theory; rather it is on how to use concepts, data, and policy tools in different economic policy domains to make the best possible decisions or understand how such decisions are made. The sessions are taught in a fully interactive manner by economists and policy-makers with a deep expertise and long track-record in economic analysis, design, and implementation, who use real-life data and bring insights as well as practical, hands-on knowledge to economic decision making in the various policy domains.

Through eight (8) separate thematic sessions, this training will cover the following topics:

• Thematic Session 1: The Fundamentals of Economic Analysis for Policy
• Thematic Session 2: Quantitative Tools for Economic Policymaking
• Thematic Session 3: Public Finance Management I: Budget Systems
• Thematic Session 4: Public Finance Management II: Revenues and Tax Governance
• Thematic Session 5: Public Finance Management III: Debt
• Thematic Session 6: Monetary Policy & the Fiscal-Monetary Mix in Open Economies
• Thematic Session 7: Structural Policy and Competitiveness
• Thematic Session 8: Current Debates in Economic Policymaking

For a detailed time schedule and an overview of learning activities please consult the tentative programme agenda. Please note that all times in the agenda are in Central European Summer Time.

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Learning outcomes

By the end of this programme, and depending on the sessions followed, participants will be able to:

• Recall the basics of economic policymaking and recognise the different objectives and limitations of government intervention through economic policies;
• Select the right data toolboxes to be used in different economic policymaking scenarios and identify best practices in the use of quantitative information;
• Comprehend the main elements in the operation of budget systems;
• Define the main concepts and implementation challenges of government tax policy and tax governance;
• Discuss the main conceptual issues impacting public debt, the cost of debt and debt sustainability, and the practical issues in debt management;
• Define the main concepts of monetary policy and that of a fiscal-monetary policy mix in the context of open economies and understand the dilemmas and trade-offs that surround their implementation;
• Demonstrate a good understanding of the role of different structural policies, their impact on competitiveness and implementation challenges;
• Outline the most important debates in current economic policy issues, such as environmental investments, energy-related taxes, addressing inequalities, and more, and identify the advantages or disadvantages of each alternative policy option.

 

Learning methods

• Interactive sessions and discussions with the instructors;
• Peer-to-peer learning via group work in online break-out rooms;
• Actual country examples and case studies;
• Comparative analyses;
• Individual work outside of the classroom;
• Relevant readings and academic articles.
  
  

Who should attend

• Public sector officials addressing economic issues and working with economic policy tools in national and subnational administrations, other government agencies, international organisations, public-sector consultancies, etc.;
• Public officials from European institutions, including the European Commission, European Parliament, Accredited Parliamentary Assistants, Advisors, etc.;
• Professionals in the consultancy sector or the private sector with a role related to the impact of economic policy change or economic interests’ representation.
  
  

Training Prerequisites

This executive training programme is taught at an intermediate/advanced level. Participants should have some familiarity with economic policy concepts and tools, including data and quantitative tools, though no expertise in these is required.