Macroeconometric Forecasting

BY
International Monetary Fund via Edx

Join the Macroeconometric Forecasting course by edX to build & assess forecasting models that predict economic growth, inflation & other macroeconomic variable.

Lavel

Intermediate

Mode

Online

Duration

8 Weeks

Fees

Free

Quick Facts

particular details
Medium of instructions English
Mode of learning Self study
Mode of Delivery Video and Text Based
Learning efforts 5-6 Hours Per Week

Course overview

edX’s Macroeconometric Forecasting online course is a nine-week macroeconomics programme curated by the International Monetary Fund. Its in-depth modules will teach you to predict macroeconomic variables, like consumption, growth, or inflation. Through the lessons, you will learn how to use these variables to build statistical economic models that predict economic policy responses. 

The Macroeconometric Forecasting certification syllabus provides immersive learning through hands-on demonstrations of policy analysis, forecasting, model-building, etc., using various countries’ data sets. The instructors will conduct these applications and demos via Eviews, a widely used software for simulating and estimating forecasting models on Windows. To this aid, you will receive temporarily free Eviews licences during the programme. 

Furthermore, the programme is free to audit for a limited duration and consists of a self-paced schedule for convenient learning. You can also purchase the verified course track to get certified and receive lifetime access to this training. Since it’s an intermediate curriculum, undergraduate-level knowledge in economics and statistics is sufficient for admission. 

The highlights

  • IMF’s program, funded by the Government of Japan
  • Free auditing option 
  • Ten-week course duration
  • Intermediate-level of study
  • Self-paced course
  • ‘Economics and Finance’ category
  • Completion requires 5-6 hours every week 
  • Online video lectures with English subtitles
  • Graded assessments 
  • EViews access
  • Shareable certificate
  • IMF’s renowned faculty
  • Hands-on learning through demos

Program offerings

  • Intermediate-level
  • Nine-week duration
  • Graded assessments
  • Hands-on demos
  • Eviews licenses (temporary and free)
  • English transcripts
  • Skilled instructors
  • Self-paced learning schedules
  • Shareable certification
  • Online training

Course and certificate fees

Type of course

Free

  • There are no Macroeconometric Forecasting fees required if you opt to audit the training.
  • An Rs.2,095 payment is compulsory if you want the verified certification track.

Macroeconometric Forecasting course fee structure

Course type

Fees in INR

Audit

NA

Certification

Rs.2,095

certificate availability

Yes

certificate providing authority

International Monetary Fund

certificate fees

₹2,095

Eligibility criteria

You must have an undergraduate background in economics and statistics to join the Macroeconometric Forecasting course by edX.

What you will learn

Knowledge of economics

You will be adept in the following concepts after completing edX’s Macroeconometric Forecasting certification syllabus: -

  • Uncertainty forecasting
  • Evaluating macroeconometric models
  • Forecasting for policy analysis
  • Dynamic specification
  • Model design and time-series data properties
  • Using VECMs (error correction models) and VARs (vector auto-regression models)

The syllabus

Module 1: EViews Basics (optional)

  • Review of the main EViews commands to manage data.

Module 2: Introduction to Forecasting with EViews

  • Introduction to the EViews model simulator to estimate and forecast multiple equation models.

Module 3: Statistical Properties of Times Series Data

  • The concept of stationarity is defined as well as how to test for it
  • Box-Jenkins (ARMA) methodology to study time series

Module 4: Forecast Uncertainty and Model Evaluation

  • How best to choose between forecasts from competing models or sources.
  • The main forecast evaluation statistics and how to calculate them in EViews.

Module 5: Vector Auto-Regressions (VARs)

  • Understand VARs, how they are used for forecasting and structural analysis, and
  • How to estimate a well-specified VAR and generate forecasts.

Module 6: Cointegration and Vector Error Correction Models (VECMs)

  • Define and understand the concept of cointegration among unit-root variables and its implications for forecasting. 
  • Learn how to test for cointegration using the Johansen method and how to estimate and forecast using a VECM.

Module 7: Evaluating Regressions Models

  • What does it mean to have a “good model” (model evaluation and key model assumptions) and the consequences for forecasting? 
  • Introduction to model testing and dealing with error irregularities and structural breaks.

Module 8: Final Assignment - Bringing It All Together

  • An overview of the techniques studied is provided using a case study focused on private saving-consumption behavior in the U.S. before and after the global financial crisis.

Admission details

  • Access the programme by either visiting edX or simply clicking on the link given on the official page.
  • An ‘Enroll Now’ button will be available on the web page. Click on it to register on edX by entering the required information. 
  • Choose the ‘Create Now’ tab to start your edX ID. 
  • After enrolling in the course, you can either select the ‘Audit This Course’ button to study at no cost or buy the verified track for all the additional benefits.

Filling the form

If you’re an edX user, you can join the Macroeconometric Forecasting training using your registered mail and password. However, if you wish to sign up, you must create your edX profile. For this, simply provide your country name, username, full name, password, and email ID. You can also link your Google, Microsoft, Facebook, or Apple credentials to sign up/sign in.

How it helps

The Macroeconometric Forecasting certification course offers convenient learning through a self-paced schedule and online lectures. IMF's renowned educators will teach you the curriculum lessons through hands-on demonstrations, applications, and extensive insights. You will also get a free EViews license to access the software during the programme. 

Moreover, if you purchase the verified track, it will unlock additional Macroeconometric Forecasting certification benefits. These include unlimited course access, graded assessments, and the completion certificate. This e-certification is shareable on LinkedIn networks, and you can also present it to recruiters/employers via your CV. This accreditation will display your programme achievements, IMF’s logo, and your instructor’s attestation to verify your skills. 

Instructors

Mr Adolfo Barajas
Senior Economist
International Moneta...

Other Bachelors, Ph.D

Ms Adina Popescu
Economist
International Moneta...

Ph.D

Mr Sam Ouliaris
Former Chief
International Moneta...

Ph.D

Mr Reda Cherif
Senior Economist
International Moneta...

Ph.D

Mr Jorge Restrepo
Senior Economist
International Moneta...

Ph.D

Mr Dmitry Plotnikov
Economist
International Moneta...

Ph.D

Mr Mikhail Pranovich
Economist
International Moneta...

Ph.D

FAQs

Is IMF the course provider?

The International Monetary Fund has curated this programme and is offering it through edX.

Is this an advanced-level course?

No. The Macroeconometric Forecasting certification programme is an intermediate-level one.

Who are the trainers?

IMF’s Adina Popescu (Strategy, Policy and Review Department’s Economist), Adolfo Barajas (Institute for Capacity Development’s Senior Economist), Reda Cherif (IMF’s Senior Economist), Dmitry Plotnikov, Mikhail Pranovich, Jorge Restrepo and Sam Ouliaris are the course educators.

What is the curriculum duration?

The Macroeconometric Forecasting online course is for 10 weeks.

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