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東京大学公共政策大学院 | GraSPP / Graduate School of Public Policy | The university of Tokyo

S2 「Case Study (Macroeconomic Policy for Practitioners)」(5140399) 2021年05月28日(金)

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S2 「Case Study (Macroeconomic Policy for Practitioners)」(5140399)

Please be reminded that the first day of Case Study (Macroeconomic Policy for Practitioners) is Friday, June 4. All the course materials as well as an information session video are available on ITC-LMS.

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A message from the instructor

I am looking forward to meeting all of you at our first class next Friday, June 4. We should have a lot to discuss this semester, as macroeconomic issues are in the news on a daily basis, and macroeconomic policy is quickly evolving to meet new challenges.

Some of you may have attended the information session on this course in April. For those that didn’t, a brief presentation from that session is available under Course Guidance on LMS. Please take a look at that, as well as the course syllabus, to see how the course is organized and what the main assignments will be. For the first class, there are two short articles and a podcast assigned. Please read/listen to the material ahead of class.

Some of you may be concerned about a lack of background in macroeconomics. Please rest assured that this course is meant to be self-contained and there are no specific prerequisites. In previous semesters, those without a background in macroeconomics have done quite well in this class. On the other hand, if you do have a strong background in macroeconomic theory, the course can serve as a useful complement, since it focuses on practical considerations for policy-makers. In any case, I would be happy to discuss with each of you any specific problems you may have during the semester and to suggest some supplementary reading if appropriate.

Unfortunately, as you know, the course will be given online, via Zoom. I have set up the class as a series of recurring Zoom meetings.

Best regards,

Jerry Schiff

Visiting Lecturer

 

Course description

This course makes use of key macroeconomic concepts and international practice to analyze real world policy questions and country cases. We will develop a simple and flexible macroeconomic framework, based on the sort of analysis undertaken at the IMF. Using this framework, a number of issues will be examined, including: evaluating monetary and fiscal policies; identifying economic and financial vulnerabilities and proposing corrective policies; and designing economic programs for countries in or near crisis. Country case studies and current economic news and developments will also serve as a starting point for class discussions of key ideas. In particular, we will examine macroeconomic policy needs and lessons in the context of the COVID crisis.

This course makes use of key macroeconomic concepts and international practice to analyze real world policy questions and country cases. The one-on-one mock job interview—modeled after job interviews at the IMF—will play the role of final exam.

We will develop a simple and flexible macroeconomic framework, based on the sort of analysis undertaken at the IMF. Using this framework, a number of issues will be examined, including: evaluating monetary and fiscal policies; identifying economic and financial vulnerabilities and proposing corrective policies; and designing economic programs for countries in or near crisis. Country case studies and current economic news and developments will also serve as a starting point for class discussions of key ideas. In particular, we will examine macroeconomic policy needs and lessons in the context of the COVID crisis.

 

Instructors’ bio

Jerald Schiff, Visiting Lecturer

SCHIFF, Jerald

Jerry Schiff retired from the International Monetary Fund (IMF) in 2015, after 25 years there. At the IMF, he held a number of positions, most notably as Deputy Director of the Asia and Pacific Department and as Senior Advisor in the Office of the Managing Director. In the former, he helped develop IMF policy toward the Asia region and also served as the head of teams for Japan, Korea, India, Singapore, and Myanmar. In the latter position, he helped the IMF’s management oversee its overall agenda and management of the 2008-10 global finial crisis. As part of this effort, he took part in a number of international meetings, including the G-20 and G-7.

Since that time, he has been involved in education and training in a number of settings. He has taught both graduate and undergraduate courses at American University School of International Service and the George Washington University Elliott School of International Affairs. These courses have included International Financial Relations, International Trade Relations, and Economic Crises and Rescues. He has also had a recurring visiting position at the University of Tokyo Graduate School of Public Policy, where he has taught a course on Macroeconomic Policy for Practitioners, building on his experience at the IMF. He has also provided training in macroeconomic and financial policy-making to a wide range of public officials in Asian and Europe as a consultant to the IMF Institute.

Prior to joining the IMF, Mr. Schiff spent four years as Assistant Professor of Economics at Tulane University, and one year as a visiting scholar at The United States Treasury.

He received his Ph.D. in Economics from the University of Wisconsin-Madison in 1984 and his B.S. in Economics from Cornell University in 1979.

His current academic interests lie in preventing and mitigating economic crises, and the economies of Japan and Asia more broadly.

 

Toshiro Nishizawa, Professor

NISHIZAWA, Toshiro

Mr. Nishizawa has been a faculty member of GraSPP since 2013 after serving as Director General of Country Credit Department at Japan Bank for International Cooperation (JBIC). He also served as Deputy Director General of JBIC Institute and was involved in JBIC’s country operations in Asia. His earlier professional career includes positions at the Ministry of Foreign Affairs, IMF and the World Bank. Mr. Nishizawa holds a BA in economics from the University of Tokyo and an MSc in economics from the University of Wisconsin-Madison. He has written articles on Asian economies, Public-Private Partnerships (PPPs) and sovereign debt. He was a visiting professor at Chulalongkorn University in Thailand and EAESP-FGV in Brazil.