Introduction and Meaning of Economics
Career in Economics
Courses and Programmmes in Economics
About Economist, Economist at IMF and Nobel Prize Winners in Economics
About Economic Development
Links to Economics & Finance Departments, Economics Institutes and Business Schools around the World
Links to Universities and Colleges around the World
Links to Econometrics and Mathematical Economics around the World
Links to Statistical Agencies and Offices around the World
Links to Economics Research Groups & Societies, International Organizations and Government Agencies around the World
Links to Central Banks, Stocks & Securities Market, Forecasting and Consulting agencies around the World
Other Interesting Links
Jokes in Economics and about Economist
About this Site and Our Contact Information

Economist at IMF

  1. TRAINING INSTITUTE (IMF - SINGAPORE)
  2. PROGRAM & COURSES
  3. ECONOMIST PROGRAM
  4. LENGTH OF APPOINTMENT
  5. SECONDMENTS
  6. WHO SHOULD APPLY
  7. SELECTION PROCESS
  8. RESPOSIBILITIES & SKILLS
  9. MISSIONS
  10. MOBILITY
  1. TRAINING INSTITUTE (IMF - SINGAPORE): -

The courses are intended for officials from the Asia and Pacific region. Some courses are by invitations while others are by applications, as indicated under the title of each course. Normally, a maximum of 30 participants per course will be invited. The training will be conducted in English at the IMF-Singapore Regional Training Institute (STI) located in the Monetary Authority of Singapore (MAS) building, 10 Shenton Way, Singapore.

The process for attending courses at the STI is the following: -

For courses by invitation, participants are nominated by their governments upon the request of the International Monetary Fund (IMF). For courses by application, candidates should submit an application form directly to the STI. Applicants must be sponsored by the government agency in which they serve. It is essential those sponsors exercise the greatest possible care in recommending only applicants who meet. The criteria of proper academic background, job relevancy, and language fluency. A maximum of three candidates from each sponsoring institution can be nominated for each course, with an order of priority, if possible.

Applicants and sponsoring officials should ensure that all the information requested is provided in their application. Incomplete and handwritten applications will not be processed. The completed application form should be sent by facsimile to the STI both the candidate and the sponsoring agency will be contacted in due course.

For both courses by invitation and by application, the sponsoring agency is required to certify that, if invited, the applicant will receive a leave of absence with regular pay for the duration of the course, that during his/her attendance at the course the participant will be given no other duties or assignments, and that upon return to duty the participant will be placed in his/her former position or in one carrying equal or greater responsibility.

The principal purpose of the courses and seminars offered by the IMF Institute is to help strengthen the technical capability of officials from the financial agencies of member countries. Candidates for IMF Institute courses must, without exception, are sponsored by the government agency in which they serve.The IMF Institute cannot consider applications from persons employed in non-governmental institutions or business, such as commercial banks, universities, or trade unions.

  1. PROGRAM & COURSES: -

Following are the list of various courses available:-

  • Public Finance
  • Price Statistics
  • Fiscal Analysis
  • Monetary Analysis
  • Inflation Targeting
  • Monetary Operations
  • The Real Exchange Rate
  • Central Bank Accounting
  • Handling of Problem Banks
  • Capital Flows and Financial
  • National Accounts Statistics
  • Dealing with Banking Crises     
  • Selected Issues in Tax Policy
  • Banking and Currency Crises
  • Foreign Exchange Operations
  • Money and Banking Statistics
  • Government Finance Statistics
  • Balance of Payments Analysis
  • Conceptual and Technical Aspects
  • Consolidated Supervision of Banks
  • Selected Issues in Payment Systems
  • Financial Programming and Policies
  • Monetary and Exchange Operations
  • Banking Supervision and Regulation
  • Macroeconomic Impact of the Budget
  • Linkages and Early Warning Indicators
  • Current Issues in Exchange Rate Policy
  • Monetary Policy: Targets and Instrument
  • Exchange Rate Arrangements and Policies
  • Structural Adjustment Policies and Poverty
  • Payments, Clearing, and Settlement System
  • Development of Capital Market in Thailand
  • Money and Inter-Bank Market Development
  • Advanced Financial Programming and Policies
  • Macroeconomic Management and Fiscal Issues
  • Banking Restructuring in East Asia: Case Study
  • Macroeconomic Stability and Growth: Overview
  • Deposit Insurance and the Issue of Moral Hazard
  • Financial Markets and New Financial Instruments
  • Macroeconomic Accounts and their Interrelations
  • Fiscal Policy and Fiscal Sustainability: Part I & II
  • Forecasting Macroeconomic and Financial Variables
  • Financial Sector Reform and Macroeconomic Stability
  • Distance Learning Financial Programming and Policies
  • Dealing with Banking Crises Program / Reading Material
  • Macroeconomic Management and Financial Sector Issues
  • Financial Markets and the Macro Economy: An Overview
  • Fiscal Policy for Sustained Growth in a Globalizing World
  • The New Architecture of the International Financial System
    1. ECONOMIST PROGRAM: -

    The Economist Program is the "gate of entry" into the IMF for economists joining the organization soon after completion of their graduate studies. Participants join the Program for a two-year period, after which appointment to the permanent ("regular") staff is offered, provided that performance during the EP period has been fully satisfactory. Typically, over 95 percent of the EP "graduates" join the regular staff.

    The Economist Program is much more than a training program. Participants are expected to contribute fully to the work of their team, including participation in visits to member countries (missions). EP participants normally take training courses on IMF policies and operations, computer and writing skills, and receive language instruction. They also have access to in-house economics training seminars and external conferences to enhance their professional skills.

    During the two-year program, participants are given two assignments, each lasting one-year. One assignment will be in an area department dealing with country-specific issues; the other is likely to be in a functional department (dealing with fiscal, monetary, balance-of-payments, debt and other issues). Participants normally take part in at least two missions during the program. They work closely with experienced members of the staff and are given considerable responsibility in carrying out operations-related analysis and research.

    1. LENGTH OF APPOINTMENT: -

    Most initial appointments offered to experienced economists are for a term of two years. If performance during this period suggests potential for a successful IMF career, and if the IMF has a continued need for the position, the individual may be offered a regular staff appointment (an indefinite appointment).

    1. SECONDMENTS: -

    A few mid-career appointments are offered to officials from member countries in the form of a Secondments, i.e., a temporary external assignment from their government. Such Secondments are typically arranged for a two- or three-year period for promising officials likely to hold key public service positions in the future. The candidates must meet the qualifications set out below and must have been working on economic policy issues for a number of years in a Central Bank, Ministry of Finance, or similar government department. These assignments are offered on the understanding that the individuals will return to their original employer in their home country upon completion of the appointment. The mutual benefits of such Secondments are to increase knowledge of the IMF's operations among the financial officials in member countries and to bring economists into the IMF with valuable "hands-on" experience of policy-making in their own country.

    1. WHO SHOULD APPLY: -

    The IMF seeks to hire experienced economists with 5-15 years of experience in economic policy issues. Candidates employed in a Ministry of Finance, a Central Bank, or a private financial institution are invited to apply. Work in academia, research institutions, or other international organizations is also considered.

    1. SELECTION PROCESS: -

    Candidates should initially submit their CV or an IMF Application Form, indicating education and work experience. The IMF may later also request samples of written work. From this pool of applicants, candidates are screened in light of current and potential vacancies. If an individual's qualifications match the requirements of a current or expected vacant position, preliminary interviews are arranged, often in the candidate's own country or the country where he or she is currently working. If these go well, the applicant is likely to be invited to Washington for final interviews in the interested department(s).

    1. RESPOSIBILITIES & SKILLS: -

    During the course of a Fund career, IMF economists will face a succession of challenging assignments with increasing responsibilities for economic analysis, policy design and technical assistance to member countries. IMF economists work either on (I) economic developments and policies in one or more member countries (as a "desk economist" in an area department) or (ii) on general policies or more specialized functions (in a functional department). Most assignments involve visits to member countries (missions).

    Responsibility for maintaining the Fund's relations with its member countries is divided among six area departments (See Organizational Chart). At least one desk economist is assigned to each country. Desk economists develop and maintain comprehensive databases on aspects of the economy of "their" country; keep abreast of recent economic developments (particularly in the areas of production, prices, the labor market, money, fiscal issues, and the balance of payments); prepare country forecasts; undertake country visits; assess policy options; develop aspects of IMF lending programs (where necessary); and assist in preparing reports for the IMF's Executive Board.

    Other economic departments of the IMF cover a specific economic function rather than a geographical area. They include: Fiscal Affairs, the IMF Institute, Monetary and Exchange Affairs, Policy Development and Review, Research, Statistics, and Treasurer's Departments. Economists in these departments are concerned with general IMF policy issues, but also work closely with area department economists in analyzing developments and policies in member countries.

    Some departments have specialized tasks such as training (IMF Institute) or technical assistance (Monetary and Exchange Affairs, Fiscal Affairs, and Statistics). In addition to assisting area departments in their field of expertise (e.g. fiscal policy, central banking expertise), economists in the functional departments prepare reports and documents for the IMF's Executive Board, as well as studies published in the IMF's World Economic Outlook, the IMF Staff Papers and other publications.

    The skills required of these economists are specific to the nature of their assignments. In addition, Fund economists are expected to pick up a detailed knowledge of the organization's policies and practices. Skills needed in more specialized assignments may include an expertise in banking, tax policy, or trade.

    1. MISSIONS: -

    One of the most interesting - and central - aspects of an IMF economist's responsibilities are the missions. A typical mission consists of a small team of four or five economists who visit a member country for two to three weeks. Having carried out a thorough analysis of the latest data, the team reviews economic developments and policies with the appropriate government authorities and, if the country wishes to borrow from the IMF, negotiates a financial program. The team then returns to Washington and prepares a report, which is submitted to and discussed by the IMF's Executive Board. A keen analytical mind, strong quantitative skills, good teamwork, patience, tact, and stamina are some of the many requirements demanded of staff members during a mission. An economist typically travels two to four times a year.

    1. MOBILITY: -

    The IMF encourages staff economists to acquire a wide range of skills and experience by working on different assignments in the course of their career. The IMF has a Mobility Program, which encourages economists to move from one department to another every few years. Promotion to managerial level is conditional on a staff member having worked in at least two departments. Over their career, economists can expect to work on both industrialized and developing countries, and both market and transition economies.

    There are also opportunities for career development by taking an overseas assignment. The IMF has three small regional offices, with 10 - 20 staff each, in Geneva, Paris and Tokyo, as well as a three-person representative office at the United Nations in New York. IMF staff also help to run the Joint Vienna Institute in Austria and the Regional Training Institute in Singapore. In addition, economists fill between 60 and 70 Resident Representative posts attached to Central Banks and/or Ministries of Finance. These posts are typically in developing countries or transition economies, which have an IMF economic program in place.k

    PUBLICATIONS & JOURNALS: -

    OTHER GUIDES TO ECONOMIC RESOURCES ON THE WEB: -

    WORKING PAPERS:

    For any Corrections or updation E-mail me