Forecasting and Economic Policy


Profile

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).

Careers

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 electives in Finance.

Courses

Semester 1

Mandatory courses

Courses ECTS Hours (Lecture & Tutorials)
Labor Economics 4 24+0
Macroeconometrics 4 18+6
Monetary Economics 4 24+0

Electives

You can choose from 4 to 6 electives in the 3rd year course catalogue*. However, the following courses are strongly recomended for this specialization track.

*including foreign language and subject to compatibility with your schedule.

Courses ECTS Hours (Lecture & Tutorials)
International Trade 4 24+0
Macro-finance 3 18+0
Political Economy 4 24+0
Public Economics 4 24+0
Public Finance (Economics) 4 24+0
Randomized Methods and Policy Evaluation 3 24+0
Recursive Methods and Applications to Macroeconomics 4 24+0
Structural Macroeconomics 2 12+0
Understanding National Accounts 3 18+0
Development Microeconomics 2 12+0
Economics of Sustainable Deveopment 4 24+0
Public Finance 3 18+0
Microeconometric Evaluation of Public Policies 3 24+0
Foreign Language (1 language max, English is mandatory if under B2 English level) 3 18+0

Internship (2A) or Crash Courses

If you were at ENSAE Paris the year before

Courses ECTS
Internship (2A) 7

 

If you enter directly in the third year, you have to follow a 5-week refreshment program (Crash Courses – CC) regardless of the third year specialization track you have chosen.

Courses ECTS Hours (Lecture & Tutorials)
Time Series (CC) 1 15+12
Mathematical Statistics 1,5 18+12
Econometrics (CC) 1,5 18+12
Introduction to the R and Python Computer Language (CC) 1 12+0

Electives for students with Economics background

Introduction to Applied Statistical Learning (CC, AM) 2 12+6

Electives for students with Mathematics background

Microeconomics 1 18+12
Macroeconomics 1 18+12

Semester 2

Mandatory courses

Courses ECTS Hours (Lecture & Tutorials)
Short-term Macroeconomic Analysis 2 18+0
Applied Macroeconometrics 4 21+0
Economic Policy Seminar 3 25+0

Electives

You can choose from 3 to 5 electives in the 3rd year course catalogue*. However, the following courses are strongly recomended for this specialization track.

*including foreign language and subject to compatibility with your schedule.

Courses ECTS Hours (Lecture & Tutorials)
Blockchain Technologies and Tokenomics 3 21+0
Development Economics : a Macroeconomic perspective 2 12+0
The Law of Banking and Financial Markets 2 12+0
Economic Geography and Urban Economics 4 24+0
Economics of Energy Markets 3 18+0
From Micro to Macro via Firms as Organizations: Firm Dynamic Analysis 2 12+0
Factor Mobility in a Global Economy 4 24+0
Forecast Evaluation and Model Selection 3 18+0
Training through Research 3
Firms in the Global Economy 2 12+0
Information and expectations in macroeconomics 4 24+0
Intertemporal choice: Theory and Application 4 24+0
Foreign Language (1 language max, English is mandatory if under B2 English level) 3 20+0
Trade and Development Policies 4 24+0

Final degree internship

Matière ECTS
Final degree internship 7

This state-controlled program is also accredited by the French Commission des titres d’ingénieur