Policy In Action: The Macroeconomics Project

Thu 26 July 2018

Programme

8:00 Breakfast
8:45 Director’s Introduction and Academic Briefing
9:00 Macroeconomics Project Briefing  (Neil Walker)
9:30 Project Tasks in Syndicates
12:30 Lunch
1:15 Project Tasks in Syndicates
2:30 Submission Deadline for Policies to 2015 Q2
3:15 Project Tasks in Syndicates
5:00 Submission Deadline for Policies to 2017 Q2
6:00 Syndicate Presentations
6:30 Macroeconomics Project Review  (Neil Walker)
7:00 Course Directors Event

Overview

Whereas the tools of macroeconomic analysis give us insights into the behaviour of economic aggregates and the effect of policy, it is often difficult to understand the magnitude of effects and the time scale over which they operate. The aim of the Macroeconomics Project is to fill this gap. Syndicates are equipped with a PC-based version of a full-blown economic forecasting model and are able to vary policy instruments. Economic and political objectives are specified, and the aim is for syndicates to propose, explain and implement policies aimed at fulfilling these objectives. This is very much a “hands on” project day, in which syndicate members are able to fully understand the macroeconomic forces that  face real-world policymakers. The model used is not a toy or a stylized representation; its parameters are estimated based on up-to-date macroeconomic data.