Forecasting and Economic Policy


The « Forecasting and economic policy » major trains quantitative economists, with an emphasis on macroeconomics.

Some students choose to specialize in the analysis, implementation and evaluation of economic policies. They deepen their various components by following classes of monetary policy, fiscal policy, international economics, labor market, environmental economics, development economics. Other students choose the field of forecasting and financial macroeconomics. They deepen the methods of time series econometrics, monetary policy strategies, but also quantitative finance (especially asset management and risk management).


Decisions of major public and private institutions are part of a complex, volatile and uncertain environment. In this context, the economist, through modeling capabilities, is essential to understand the issues and implications of a proposed decision. With their analytical skills and expertise in macroeconomics and econometrics, economists trained ENSAE have a very sought after profile.

Analyzing and forecasting the economic situation, within the public administration or private stakeholders, require a mastery of analytical and interpretive frameworks taught at ENSAE, especially macroeconometrics.

Consulting in economic policy and evaluation of public policies plays a key role in the conduct of State action and its assessment by all economic actors. The task of the economist is on several levels. First, to use economic theory to assess the possible implications of an economic policy measure. Then, using modeling, to produce quantitative forecasts. Finally, after a public policy has been implemented, to use econometric techniques to assess its effectiveness.

The « Forecasting and economic policy » major combines theoretical and applied teaching in economics with the acquisition of advanced techniques in econometrics. It provides a consistent and comprehensive training in the areas of analysis and macroeconomic modeling, and their application to problems of forecasting and economic policy. ENSAE’s graduates work in public administrations (INSEE, Ministry of Economy, Finance and Industry, Ministry of Labor and Employment); central banks (Banque de France, European Central Bank); regulatory authorities (ACPR); economic research institutes (OFCE, COE-Rexecode); consulting firms in economic forecasting; large companies, especially banks (BNP Paribas, Credit Agricole, Societe Generale, Goldman Sachs, Morgan Stanley, Deutsche Bank) but also insurance companies and hedge funds; and national (AFD) and international organizations (IMF, World Bank, WTO, OECD, European Commission).

It should be specified that public (INSEE, ministries, central banks) and private trades are not compartmentalized. On the contrary, the experience gained by an ENSAE graduate in civil service, for instance as a private employee, is often highly valued by banks, economic research institutes or even specialized departments in large companies. Moreover, it is possible to advance in banking towards positions in finance after working as an economist; in this perspective, it may be appropriate to build at ENSAE a tailored financial economist profile by choosing optional courses in finance.