Program Background

The Foresight and Metrics program aims to enhance the modeling capacity not only of the participants who engage with the training materials but also of the institutions from which they come. From an institutional perspective, it is important to build a solid institutional modeling framework. By training all three types of model users (senior policy managers, policy analysts, modeling specialists) in an institution, you create a solid capacity for understanding model results; analysts that can run and interpret models; and model specialists that can develop and adapt models. Cohesive training materials, like those we have developed, provide a framework for good institutional modeling practices. It leads to consistency in model use across the institution with the hope to sustain the institutions capacity over time.

The Foresight Initiative invested in the development of online training materials on economic modeling. This led to the design of 7 training modules covering introduction to models and economic modeling, and two separate tracks for multi-market modeling and CGE modeling. The material is designed for ministry workers and policy analysts, networks and research institutes, and university students at the master’s and doctorate levels.

Here are some examples of where economic models have been used.

Target audience

The training materials are intended for three types of model users: (1) Senior policy managers, (2) Regular policy analysts, and (3) Modeling specialists.

Here is an overview of the different model users.

What others are saying about the training materials:

“I found the video to be informative and it set the scene rather well by way of not only giving the facts but blending it with some relevant examples presented by different researchers too. I also appreciate the points made on what models can and cannot do and the importance of nailing the economic narratives beyond purely the numbers alone.” -Module 0

“I really enjoyed the introduction video, it was easy to follow and a good explanation of why we model and the narratives behind modeling”-Module 0

“I believe the exercise is very well designed. It’s ideal for becoming familiar with the basic structure of a Social Accounting Matrix (SAM). Furthermore, the exercises involving the modification of values and the subsequent justification serve as a good introduction to encourage thinking more in a modeling and general equilibrium approach.” -Module 1

“The lecture materials are very organized and clear. The documents of the exercises provided hands-on guidance on how to perform the CGE analysis step by step.” -Module 1

Training materials description

MODULE 0: Introduction Lecture

This overview video consists of an overview lecture on economic modeling and an overview of the online economic modeling materials. It includes discussions on why we need models, how they work, different types of models and model users. This module is available below for anyone interested.

The remaining modules are currently in development or testing and will be made available in due course. You can sign up HERE to express your interest in learning more about the content.

Module 1: Module Basics

This module explores micro and macro economic relationships in the Partial Equilibrium/Multi Market Models and the General Equilibrium Models through the exploration of a Social Accounting Matrix (SAM), the 123 Model and CGE Models.