This course, developed and delivered by the Monetary and Capital Markets Department of the International Monetary Fund (IMF), provides a comprehensive overview of macro-financial stress testing, and related analytical tools and methodologies developed by IMF staff. It has a topical nature, meaning that each year it combines certain “base elements” of a curriculum with topical themes that deserve emphasis at the current juncture. The 2023 course is designed around the following themes:

• Systemic risk assessment: Definition, dimensions, monitoring, measuring. Sources and amplification channels of economic cycles. Policies to contain systemic risk in its various dimensions.
• Macroprudential financial sector stress testing: Definition and purpose. Cyclical vs. structural macro-financial scenario design. Macro-financial feedback effects, including with a view to banks, non-bank financial institutions, and the economy at large.
• Solvency and liquidity stress testing models.
• Best practice and frontier methodologies regarding contagion and modeling of interconnectedness.
• Primer on climate risk analysis, with a focus on the role of financial system performance conditional on climate transition and physical risk scenarios.

Application Deadline: March 19, 2023