Program in brief

Trains policy makers and professionals using modern macroeconomic theory and policy.

• Program Director: Professor Junichi Fujimoto

• Associate Director: Professor Minchung Hsu

• Scholarship (For International Students Only):

Japan-IMF Scholarship Program for Asia (JISPA)

• Degrees Offered:

Master of Public Policy (One-year Program)

Master of Public Economics (One-year Program)

Master of Arts in Public Economics (Two-year Program)

• Language of Instruction: English

• How to Apply：Click here

• Time Schedule:

Program duration…1 year or 2 years
Enrollment…October

Graduation…September

***Please download MEP prgram Web brochure here

The Macroeconomic Policy Program (MEP) is a professionally oriented program designed to train modern macroeconomic policy makers and professionals who need to understand macroeconomic fluctuations and the roles of monetary and fiscal policies in domestic and global economies. The program aims to enhance the capacity of governments to formulate and implement financial and economic policies in a manner that leads to quality growth. The curriculum deals with macroeconomic and structural aspects, including policies aimed at establishing sound macroeconomic fundamentals, liberalized trade, a robust financial system, and a vast private sector. Ample attention is also given to a broader range of issues, such as roles for government, institution building, the environment and sustainable development.

MEP is a program developed from the successful tradition of the Transition Economy Program, which has been a partner of the Japan-IMF Scholarship Program for Asia (JISPA) since the inception of JISPA in 1993.

Target Group

MEP is primarily aimed at government officials and professionals who are involved in designing and implementing macroeconomic policies.

We also accept Japanese students.

Program Design

Both one-year and two-year programs are offered. One-year Program requires 30 credits for graduation and grants a Master of Public Policy or Master of Public Economics; Two-year Program requires 36 credits and grants a Master of Arts in Public Economics. Qualified applicants with tight working schedules are encouraged to apply for the One-year Program. Qualified applicants who have flexible working schedules, are willing to devote more time to thesis writing, and have a desire to develop more advanced analytical skills may consider the Two-year Program.

The coursework consists of required courses, recommended courses, and elective courses. The required courses, which include Macroeconomics, Microeconomics, and Econometrics, provide solid training in principles and develop practical analytical skills for designing and evaluating macroeconomic policies. The variety of recommended and elective courses gives students their specialization in specific areas of interests, such as monetary policy, fiscal policy, international trade, and financial markets.

The writing of policy papers (One-year Program) / theses (Two-year Program) will be closely supervised by experienced core faculty members through seminar courses.

Macroeconomic Policy Program (One-year) Curriculum 2024/2025

Please see GRIPS Bulletin for brief descriptions of courses offered.

(as of October 2024)

Category		Course Name	Instructor
I Required Courses		The World and the SDGs	Kudo, et al.
		Microeconomics I	Xing
		Macroeconomics I	Porapakkarm
		Microeconomics II	Xsing
		Macroeconomics II	Fujimoto
		Introduction to Applied Econometrics	Izumi
		International Finance	Xing
II Recommended　Courses		Monetary Economics (Money and Banking)	Fujimoto
		Economic Development of Southeast Asia	Kudo
		Government and Market	Okamoto
		Finance and Economic Growth	TBA
		Applied Time Series Analysis for Macroeconomics	Leon-Gonzalez
		Applied Econometrics	Litschig
		Applied Econometrics Practice	Litschig
		Data Science for Public Policy?	Goto
		Trade and Industrial Development	Sonobe
		Mathematics for Economic Analysis	Makdissi
		Public Finance?	Braun
		Political Economy	Izumi
		Fiscal Reform in Japan	Ota
		Economics of Tax Policy	Yamazaki
		Reform of Economic Policy in Japan	Ota
		Economics of Law	Hatanaka
		Competition and Regulatory Economics	Tanaka Makoto
		International Trade	Hsu
		Empirics of Macroeconomic Policies and International Finance	TBA
		Theory and Practice of Central Banking: Japanese and Global Experience	Kinoshita
		Environmental Economics	TBA
		Resource and Energy Economics	Tanaka Makoto
		Contemporary Japanese Economy	Nakajima
		Japanese Economy	Yokoyama
		Financial Economics	TBA
		Time Series Analysis	Leon-Gonzalez
		Cost Benefit Analysis I	Kidokoro
		Economic Modeling for Policy Simulations	Hosoe
		Economic Development of Japan	Hashino, Matsunaga
		Development Economics	Kijima
		Development History of? Asia: Policy, Market and Technology	Nakao
		Economic History and Institutions	Izumi
		Computer Programming for Economics	Porapakkarm
		Modernization of Financial Sector: Lessons from Recent Financial Crises	Nunami
		GRIPS Forum I	Iwama, Iizuka
		GRIPS Forum II	Iwama, Iizuka
		Introduction to Data Science I	Tsuchiya
		Introduction to Data Science II	Takenouchi
		East Asian Economies	Kudo
		Selected Topics in Policy Studies I - IV
III Elective Courses	For qualified students only
		Advanced Microeconomics I	Ymazaki
		Advanced Microeconomics II	Yamazaki
		Advanced Microeconomics III	TBA
		Advanced Microeconomics IV	TBA
		Advanced Macroeconomics I	Porapakkarm
		Advanced Macroeconomics II	Fujimoto
		Advanced Macroeconomics III	Hsu
		Advanced Macroeconomics IV	Brun
		Advanced Econometrics I	Wie
		Advanced Econometrics II	Litschig
		Advanced Econometrics III	Leon-Gonzalez
		Advanced Econometrics IV	Goto
		Courses not listed in this table?Advanced Macroeconomics III
X Others		Courses offered by the Center for Professional Communication

Macroeconomic Policy Program (Two-years) Curriculum 2024/2026

Please see GRIPS Bulletin for brief descriptions of courses offered.

(as of October 2024)

Category		Course Name	Instructor
I Required Courses		The World and the SDGs	Kudo, et al.
		Microeconomics I	Xing
		Macroeconomics I	Porapakkarm
		Microeconomics II	Xsing
		Macroeconomics II	Fujimoto
		Introduction to Applied Econometrics	Izumi
		International Finance	Xing
II Recommended　Courses		Monetary Economics (Money and Banking)	Fujimoto
		Economic Development of Southeast Asia	Kudo
		Government and Market	Okamoto
		Finance and Economic Growth	TBA
		Applied Time Series Analysis for Macroeconomics	Leon-Gonzalez
		Applied Econometrics	Litschig
		Applied Econometrics Practice	Litschig
		Data Science for Public Policy?	Goto
		Trade and Industrial Development	Sonobe
		Mathematics for Economic Analysis	Makdissi
		Public Finance?	Braun
		Political Economy	Izumi
		Fiscal Reform in Japan	Ota
		Economics of Tax Policy	Yamazaki
		Reform of Economic Policy in Japan	Ota
		Economics of Law	Hatanaka
		Competition and Regulatory Economics	Tanaka Makoto
		International Trade	Hsu
		Empirics of Macroeconomic Policies and International Finance	TBA
		Theory and Practice of Central Banking: Japanese and Global Experience	Kinoshita
		Environmental Economics	TBA
		Resource and Energy Economics	Tanaka Makoto
		Contemporary Japanese Economy	Nakajima
		Japanese Economy	Yokoyama
		Financial Economics	TBA
		Time Series Analysis	Leon-Gonzalez
		Cost Benefit Analysis I	Kidokoro
		Economic Modeling for Policy Simulations	Hosoe
		Economic Development of Japan	Hashino, Matsunaga
		Development Economics	Kijima
		Development History of? Asia: Policy, Market and Technology	Nakao
		Economic History and Institutions	Izumi
		Computer Programming for Economics	Porapakkarm
		Modernization of Financial Sector: Lessons from Recent Financial Crises	Nunami
		GRIPS Forum I	Iwama, Iizuka
		GRIPS Forum II	Iwama, Iizuka
		Introduction to Data Science I	Tsuchiya
		Introduction to Data Science II	Takenouchi
		East Asian Economies	Kudo
		Selected Topics in Policy Studies I - IV
III Elective Courses	For qualified students only
		Advanced Microeconomics I	Ymazaki
		Advanced Microeconomics II	Yamazaki
		Advanced Microeconomics III	TBA
		Advanced Microeconomics IV	TBA
		Advanced Macroeconomics I	Porapakkarm
		Advanced Macroeconomics II	Fujimoto
		Advanced Macroeconomics III	Hsu
		Advanced Macroeconomics IV	Braun
		Advanced Econometrics I	Wie
		Advanced Econometrics II	Litschig
		Advanced Econometrics III	Leon-Gonzalez
		Advanced Econometrics IV	Goto
		Courses not listed in this table
X Others		Courses offered by the Center for Professional Communication

Positions Held by Alumni

Graduates from this program are expected to hold key positions as policy makers in government agencies, or research institutes.

• Chairman, National Bank of Tajikistan (Tajikistan, 2010)

• Chairman, Central Organizing Committee of Vietnam's Communist Party (Vietnam, 1997)

• Advisor to the Speaker, Parliament of Mongolia (Monglia, 2006)

• Commercial Minister, Chinese Embassy to the United States (China, 2001)

• A Counselor (Economic), Embassy of Malaysia in Hanoi, Vietnam (Malaysia, 2012)

• Deputy Governor, National Bank of Kazakhstan (Kazakhstan, 2001)

• First Deputy Minister, Ministry of Economy (Uzbekistan, 2002)

• Governor, State Bank of Vietnam (Vietnam, 1997）

• Joint Secretary, Ministry of Finance (Bangladesh, 2013)

• Deputy Governor, Bank of the Lao PDR (Lao PDR, 2005)

• Special Representative of the Government, Eurasian Economic Union (Kyrgyz Republic, 2010)

• Acting Governor, Bank of the Lao PDR (Lao PDR, 1996）
• Deputy Chairman, Central Bank of Uzbekistan （Uzbekistan, 2016)
  
  

Origin and Affiliation of Students

(as of September 2024)

Country	Typical Affiliation
Bangladesh	Bangladesh Bank; Ministry of Finance; Ministry of Water Resources; Ministry of Land; Ministry of Public Administration; Ministry of Education; Ministry of Information & Communication Technology
Bhutan	Ministry of Economic Affairs
Cambodia	National Bank of Cambodia; Ministry of Economy and Finance; National Institute of Statistics
China	People’s Bank of China; National Bureau of Statistics of China; Ministry of Industry and Information Technology; China Securities Regulatory Commission
Colombia	Davivienda Bank
Fiji	Reserve Bank of Fiji
India	Securities and Exchange Board of India; Ministry of Finance; Ministry of Commerce & Industry; Government of Uttar Pradesh; Reserve Bank of India
Indonesia	Ministry of Finance; Bank Indonesia; Ministry of National Development Planning; University of Indonesia; Statistics of Indonesia; National Institute of Public Administration
Kazakhstan	Ministry of Economy and Budget Planning; National Bank of the Republic of Kazakhstan; Ministry of Finance; Ministry of Planning
Kyrgyz Republic	National Bank of the Kyrgyz Republic; Ministry of Finance; Ministry of Economic Development and Trade; Ministry of Economy
Laos	Bank of the Lao PDR; Ministry of Planning and Investment; National Economic Research Institute; Ministry of Finance
Malaysia	Ministry of International Trade and Industry; Department of Statistics
Maldives	Maldives Monetary Authority; Ministry of Finance and Treasury
Mongolia	Bank of Mongolia; National Statistical Office; Ministry of Finance ; Financial Regulatory Commission of Mongolia
Myanmar	Ministry of Planning, Finance and Industry; Central Bank of Myanmar; Ministry of Commerce
Nepal	Ministry of Finance; National Planning Commission; Ministry of Industry; Ministry of Federal Affairs and General Administration
Philippines	Department of Finance; Philippine Deposit Insurance Corporation; Securities and Exchange Commission; Bangko Sentral ng Pilipinas
Sri Lanka	Central Bank of Sri Lanka; Department of Census and Statistics; Securities and Exchange Commission of Sri Lanka
Tajikistan	National Bank of Tajikistan; Ministry of Finance; International Monetary Fund; Administration of Academy of Sciences of Tajikistan
Thailand	Bank of Thailand; Ministry of Finance
Tonga	Ministry of Finance and National Planning
Turkmenistan	Asian Development Bank, Central Bank of Turkmenistan
Uzbekistan	Ministry of Finance; Central Bank of Uzbekistan; KDB Bank Uzbekistan; State Property Committee; Uzbek Republican Currency Exchange
Vietnam	Ministry of Finance; State Bank of Vietnam; National Financial Supervisory Commission; Banking Academy of Vietnam

Recent Theses

(AY2023)

• Exploring the nexus Between Energy Consumption and Economic Output in Mongolia

• The Effects of Non-Performing Loans on the Banks’ Lending Performance in Bangladesh: An Empirical
  Analysis

• Does Anti Money Laundering System attract or repel Foreign Direct Investment (FDI)? Study in?
  Selected Emerging and Developing Asian economies

• Beyond Income: Exploring Chronic Poverty in the Philippines Through Multidimensional Poverty

• Inflation-Growth Nexus: Estimating Threshold Level of Inflation for Myanma