- Review of the main EViews commands to manage data.
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Macroeconometric Forecasting
Join the Macroeconometric Forecasting course by edX to build & assess forecasting models that predict economic growth, inflation & other macroeconomic variable.
Intermediate
Online
8 Weeks
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
- There are no Macroeconometric Forecasting fees required if you opt to audit the training.
- An Rs.2,076 payment is compulsory if you want the verified certification track.
Macroeconometric Forecasting course fee structure
Course type | Fees in INR |
Audit | NA |
Certification | Rs.2,076 |
certificate availability
certificate providing authority
certificate fees
Eligibility criteria
You must have an undergraduate background in economics and statistics to join the Macroeconometric Forecasting course by edX.
What you will learn
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)
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.
The syllabus
Module 1: EViews Basics (optional)
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.
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
The International Monetary Fund has curated this programme and is offering it through edX.
No. The Macroeconometric Forecasting certification programme is an intermediate-level one.
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.
The Macroeconometric Forecasting online course is for 10 weeks.
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