Trade Policy Development and Macroeconomic Analysis
Course Summary:

The objective of the course in Economic and Development Policy is to enhance the knowledge and capacity of government officials that are responsible for the analysis, development, implementation and monitoring of economic and development policy. Particular attention is paid to debates that surround the formulation, implementation and monitoring of industrial policy. 

Course Objectives:

  • Apply relevant conceptual and analytical frameworks to key issues relating to economic development and policy formulation
  • Develop and demonstrate understanding in the area of economic policy and its macroeconomic environment with particular reference to industry
  • Collect, analyse and present relevant information; identify and analyse problems; make judgements and communicate them
  • Reflect as practitioners on issues relating to economic development, governance and policy.

Course Outline

Governance and Policy
Governance has emerged as a key idea in the debate on economic and human development. However, the meaning and the elements of what constitutes governance is open to complex discussion in the academic and practitioner literature. This module will examine key trends and positions in the governance debate. Thereafter, the linked issues of governance and corruption will be addressed. With this foundation in place, the topics of economic and human development will be considered in relation to governance while demonstrating the link between “quality institutions” and growth. After the thorough discussion of governance and related issues, the module will then examine how governance relates to the formulation and implementation of policy. The themes of process, regulation and compliance will be examined in this context as well and illustrated by way of a discussion of “policy cycle”, a model on how public decisions are or should be made. The discussion will conclude with a section on the relationship between Monitoring and Evaluation, governance and policy implementation. The module will conclude by integrating the themes discussed into a framework for effective governance in the development and policy arenas.

Managing Information and Communications
The module is designed to enhance foundational and operational information and communication management skills for managers in the public and development sectors. The course includes the use of basic analysis techniques for secondary data in a range of applications. A hand-on, practical approach is adopted in using statistical tools and graphics to describe, analyse, interpret and communicate information. This course uses data that is appropriate to the content and goals of the certificate.

Economics and Public Finance
The field of public economics and finance emphasises the understanding of the theoretical issues pertaining to the role of the state and the market in the economy. The course provides an understanding he macroeconomic policy instruments (monetary and fiscal policies) and their application in policy analysis. The theoretical framework includes an understanding of economic policy, government finances and budgetary management. Importantly, consideration is given to contemporary challenges and debates that impact on government’s economic, social and political priorities. In the sphere of public finance and economics it is necessary to analyse the effects of macroeconomic policy in attaining the objectives. Macroeconomic policy and its instruments will be considered in developing an understanding of government action in the economy. Importantly, public sector economics strives to establish exposure to role of the public sector in the mixed economy.

Political Economy and Economic Development
The module looks at the nature of economic development with particular attention to the role of the state. It provides an historical overview of the role of the state in economic development and of the different approaches to economic development. It then addresses a series of critical issues: labour markets and poverty, international and domestic finance for development, lessons from historical experiences of economic development and policy, as well as the debate about the ‘Developmental State’ and its relevance for Africa.

Trade and Industrial Policy
The module looks at the nature and role played by trade and industrial policy in the course of economic and industrial development. Beginning with an examination of infant industry protection and industrialisation in historical perspective, it then considers a series of critical issues for both theory and policy: the classic ‘macroeconomic trilemma’ and its implications for policy goals and for industrial policy in particular; exchange rates and trade policies as industrial policy; industrial policy and employment; and industrial policy and technology. The course concludes by looking at debates about trade and industrial policy today.

The African Economy and Industrial Structure
The module equips students with theoretical and analytical tools to understand the African economy. It introduces students to political economy debates about the evolution of the African economy and Industrial Structure. It discusses the African industrial linkages within the domestic economy and to the rest of the world. It provides tools for policy analysis and development for industrial policy and industry sector strategy.