Economic policy plays a crucial role in shaping the economic well-being of individuals and societies. This Economic Policy Analysis training course provides you with the frameworks and tools to understand the complexities of economic policymaking. You'll learn how to analyze economic issues, evaluate policy options, and assess the impact of policies on various stakeholders. From fiscal and monetary policy to regulatory and social policy, this course equips you to contribute to the development of effective and impactful economic policies.

Target Audience:

This course is designed for professionals and individuals interested in understanding and influencing economic policy. The target audience includes:

• Government officials and policymakers
• Public administrators and managers
• Policy analysts and researchers
• Economists working in government, academia, and the private sector
• NGO staff working on policy issues
• Anyone seeking to understand the economic policy-making process

Course Objectives:

Upon completion of this Economic Policy Analysis training course, participants will be able to:

• Understand the economic principles and frameworks relevant to policy analysis.
• Analyze economic issues and identify policy challenges.
• Evaluate different policy options using cost-benefit analysis, cost-effectiveness analysis, and other analytical tools.
• Assess the impact of economic policies on various stakeholders.
• Consider the political and social context in which policies are made.
• Develop and communicate policy recommendations effectively.
• Understand the role of data and evidence in informing policy decisions.
• Critically evaluate economic policy proposals and arguments.
• Contribute to informed policy discussions and debates.
• Improve their analytical and decision-making skills in the context of economic policy.

Duration:           5 Days

Course Content

Module 1: Introduction to Economic Policy Analysis

• What is economic policy? Defining the field and its scope.
• The role of government in the economy: Market failures, externalities, public goods, and social welfare.
• The economic policy-making process: From agenda setting to policy evaluation.
• Course overview: Structure, learning objectives, and assessment methods.

Module 2: Microeconomic Principles for Policy Analysis

• Supply and demand analysis: Understanding market equilibrium and price determination.
• Market failures: Externalities, public goods, common resources, and information asymmetry.
• Cost-benefit analysis: Evaluating the costs and benefits of policy options.
• Cost-effectiveness analysis: Comparing the cost per unit of outcome for different options.

Module 3: Macroeconomic Principles for Policy Analysis

• Economic growth: Factors influencing long-run economic growth.
• Inflation: Causes, consequences, and policy responses.
• Unemployment: Types of unemployment and policies to reduce unemployment.
• Fiscal and monetary policy: Tools for macroeconomic stabilization.

Module 4: Fiscal Policy Analysis

• Government budgeting: Revenue and expenditure planning.
• Taxation: Principles of taxation, tax incidence, and tax policy.
• Public debt and deficit management: Sustainable fiscal policy.
• Fiscal policy and macroeconomic stabilization.

Module 5: Monetary Policy Analysis

• Central banking and monetary policy instruments: Interest rates, reserve requirements, and open market operations.
• Monetary policy and inflation control.
• Monetary policy and economic growth.
• The role of the central bank in financial stability.

Module 6: Regulatory Policy Analysis

• The rationale for regulation: Market failures, externalities, and consumer protection.
• Types of regulation: Economic regulation and social regulation.
• Regulatory impact analysis: Assessing the costs and benefits of regulation.
• Regulatory reform and deregulation.

Module 7: Social Policy Analysis

• Social welfare programs: Unemployment benefits, income support, and poverty reduction programs.
• Education policy: Investing in human capital.
• Healthcare policy: Access, quality, and cost containment.
• Other social policies: Housing, social security, and social inclusion.

Module 8: International Trade and Development Policy Analysis

• International trade theory and policy: Free trade vs. protectionism.
• Trade and economic development: Export promotion, import substitution, and trade liberalization.
• Foreign direct investment and development.
• Aid and development: Effectiveness and challenges.

Module 9: Environmental Policy Analysis

• Environmental economics: Externalities, public goods, and common resources.
• Environmental policy instruments: Regulations, taxes, and market-based mechanisms.
• Climate change policy: Mitigation and adaptation strategies.
• Sustainable development.

Module 10: Policy Evaluation and Impact Assessment

• The importance of policy evaluation: Assessing the effectiveness and impact of policies.
• Evaluation designs: Randomized controlled trials, quasi-experimental designs, and non-experimental approaches.
• Data collection and analysis for policy evaluation.
• Communicating evaluation results to stakeholders.

Module 11: The Political Economy of Policy Making

• Political institutions and their influence on policy decisions.
• Interest groups and lobbying: Their role in shaping policy outcomes.
• Political parties and elections: Their impact on policy agendas.
• The media and public opinion: Their influence on policy debates.

Module 12: Advanced Topics and Current Issues in Economic Policy Analysis

• Behavioral economics and policy analysis: The role of psychology in policy making.
• Globalization and economic policy: International cooperation and policy coordination.
• The role of technology and innovation in economic policy.
• Ethical considerations in economic policy analysis.

Training Approach

This course will be delivered by our skilled trainers who have vast knowledge and experience as expert professionals in the fields. The course is taught in English and through a mix of theory, practical activities, group discussion and case studies. Course manuals and additional training materials will be provided to the participants upon completion of the training.

Tailor-Made Course

This course can also be tailor-made to meet organization requirement.

Training Venue

The training will be held at our Skills for Africa Training Institute Training Centre. We also offer training for a group at requested location all over the world. The course fee covers the course tuition, training materials, two break refreshments, and buffet lunch.

Visa application, travel expenses, airport transfers, dinners, accommodation, insurance, and other personal expenses are catered by the participant

Certification

Participants will be issued with Skills for Africa Training Institute certificate upon completion of this course.

Airport Pickup and Accommodation

Airport pickup and accommodation is arranged upon request.

Terms of Payment: Unless otherwise agreed between the two parties’ payment of the course fee should be done 5 working days before commencement of the training.

Course Booking

Please use the “book now” or “inquire” buttons on this page to either book your space or make further enquiries.