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Inclusive Analytics

Helping organizations connect the dots.

Expand your knowledge of state-of-the-art macroeconomic forecasting techniques and learn to prepare a comprehensive economic outlook like a pro.

 

Macroeconomic Forecasting Bootcamp

 Click here for a pdf version 

Formulating economic outlook is a complex process as the economy, consumer behaviour, government policies, global trade and financial conditions continuously evolve. Good forecasters can identify key trends and help navigate through the uncertainties of an ever-changing economy.

 

Course objectives: This program expands your knowledge of the state-of-the-art techniques in macroeconomic forecasting. Our aim is for you to return to your institutions equipped with new tools and ready to confidently apply them in your daily work.

 

You will learn how to:

select the key indicators of macroeconomic trends;

assess the current economic situation;

achieve optimal forecasting performance at 3-month and 3-year horizons with statistical and semi-structural general equilibrium models;

incorporate expert judgements;

assess risks and alternative scenarios;

explain the forecast in a coherent economic story to your stakeholders.

 

This training provides a rare opportunity to learn the best practice from New Zealand experts with rich international experience in building forecasting and analytical systems for public and private organizations. The bootcamp will use New Zealand as the baseline country case, but with prior notice, organizers can accommodate other country choices.

 

Course material that participants will take home:

PowerPoint presentations with examples and cookbooks;

Trial version of MATLAB and IRIS (toolbox for macroeconomic forecasting)

Introduction to the MATLAB/IRIS software for beginners

Codes of macroeconomic model calibrated to selected country

Codes for the production of near-term forecast (6 months ahead)

Codes for the production of medium-term forecast (2 years ahead)

Codes for simulating alternative economic scenarios and risk assessment

 

Course format: The course design and teaching methodology is based on an active learning philosophy. Instructors utilize a blended learning approach of interactive lectures and practically-oriented, hands-on workshops using Excel, Matlab and Iris.

 

Who should attend: This bootcamp is targeted at young professional forecasters from both private and public organizations who want to get quickly up to speed with all the necessary skills for preparing forecasts of GDP growth, consumer price inflation, exchange rates, interest rates and macroeconomic variables alike.

 

Prerequisites: Participants should be familiar with intermediate econometrics, macroeconomics, and basics of coding.

 

Equipment: Participants are required to bring a laptop with a USB port drive.

 

Pre-work: The course will utilize Matlab and Iris software. Participants are required to get to know the basics of the programming language before attending. A compact do-it-yourself tutorial will be sent out to participants in advance. Further, organizers will help with the installation of trial licenses for Matlab.

 

 

Dates

23-27 September, 2019

 

Venue

Sofitel Hotel, Wellington, New Zealand

 

Programme

Day 1 – Monday, 23 September

Overview of forecasting technology used by central banks today

Preparing data and forecasting database

Nowcasting and near-term forecasting

 

Day 2 – Tuesday, 24 September

Overview of structural models for medium-term forecasting

Assessing current macroeconomic conditions

 

Day 3 – Wednesday, 25 September

Formulating and quantifying baseline forecast scenario

Formulating and quantifying alternative forecast scenarios

 

Day 4 – Thursday, 26 September

Identifying, quantifying and assessing risks

Probabilistic forecasting of interest rates, exchange rates and state finances

 

Day 5 – Friday, 27 September

Participant presentations

Closing ceremony and presentation of certificates

 

Lectures

A rear opportunity to learn from New Zealand experts

Dr. Martin Fukac and Grant Spencer

 

Wishing to Apply?

Please register by emailing your details and indicating your preferences for a country case (besides New Zealand) to training@inclusiveanalytics.com or filling up the contact form on this web site.

 

The deadline for applying is 30 August 2019.

We reserve the right to reject applicants due to the capacity limitations even before this deadline.

 

Registration Fee

NZD 1,450

The fee covers tuition, study materials, certificate, city highlight sightseeing tour, coffee breaks with snacks, lunch, farewell dinner.

Participants are responsible for their own travel arrangements. Organizers are happy to advise on accommodation, local transportation and obtaining a New Zealand travel visa. A full travel package can be provided at an additional fee and is quoted individually upon an expression of interest.

 

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