Training course on Economic Modeling with EViews and Stata for Central Banks

Module 1: Introduction to EViews and Stata for Central Bank Research

Overview of software capabilities and interfaces

Data formats and importing datasets

Key differences between EViews and Stata for modeling

Module 2: Data Management and Transformation

Handling time series, cross-sectional, and panel data

Seasonal adjustment and detrending

Generating new variables, lags, and transformations

Module 3: Descriptive Analysis and Visualization

Summary statistics and data exploration

Plotting macroeconomic and financial indicators

Visualizing relationships between variables

Module 4: Classical Econometric Models

Simple and multiple regression models

Hypothesis testing and inference

Addressing multicollinearity, heteroskedasticity, and autocorrelation

Module 5: Time Series Modeling in EViews and Stata

Stationarity, unit root, and cointegration testing

ARIMA, ARDL, and VAR models

Forecasting inflation, GDP, and interest rates

Module 6: Panel Data Econometrics

Fixed effects and random effects models

Dynamic panel models (Arellano-Bond, GMM)

Applications to financial and macroeconomic datasets

Module 7: Advanced Modeling for Policy Analysis

Structural VARs and policy shock analysis

Error correction models and long-run relationships

Scenario building and policy simulations

Module 8: Forecast Evaluation and Model Comparison

In-sample vs. out-of-sample forecasts

Forecast accuracy measures (RMSE, MAE, Theil’s U)

Model selection criteria (AIC, BIC, HQIC)

Module 9: Practical Applications in Central Banking

Inflation forecasting models

Output gap estimation and potential GDP models

Credit growth and financial stability modeling

Module 10: Policy Simulation and Stress Testing

Building baseline and alternative policy scenarios

Stress testing using macroeconomic models

Communicating results for monetary and financial stability policy

Module 11: Case Studies and Hands-On Practice

Step-by-step exercises with real-world central bank datasets

Replicating published central bank models

Interpreting results for policy recommendations

Module 12: Capstone Project

Developing a full economic model in EViews or Stata

Forecasting a key macroeconomic variable (e.g., inflation or GDP)

Presenting policy implications and recommendations