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Macroeconometric Forecasting (MFx)

Course

Self-paced e-learning

UN Partner

Offered by

International Monetary Fund

MFx

Course details

Length
9 weeks
Effort
5-6 hours per week
Level
Intermediate
Language
English
Certificate
Yes
Price
Free

Course summary

Learn how to create and assess forecasting models to predict macroeconomic variables such as inflation and economic growth.

About this course

This course, presented by the Institute for Capacity Development, is designed to reinforce the macroeconomic forecasting and modeling skills of participants and their use of modern econometric techniques. Lectures discuss the underlying theory and demonstrations show how to conduct empirical analyses using EViews. The course focuses on four aspects of empirical model building and forecasting: data and model properties, such as stationarity/non-stationarity and co-integration; dynamic specifications, especially the use of error correction models; model evaluation, design, and simulation; and forecast uncertainty and policy analysis.

Target audience

All government officials are welcome to register. The course is particularly relevant for officials involved in developing forecasts that are used to design and implement macroeconomic policy.

Learning objectives

Upon completion of this course, participants should be able to:

  • Forecast time series and multiple equation models using EViews.
  • Assess the statistical characteristics of time series and apply appropriate methods for forecasting.
  • Construct a macroeconometric model using ARMA, VAR, and VECM methods.
  • Use a variety of statistical techniques to evaluate the performance of a forecasting model.

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