Nigerian Association of Macroeconomic Modellers

Beginners’ Training Programme in DSGE Modelling


This Beginner’s Course is the first stage of a three-stage step-by-step training in DSGE modelling. The overall objective is to provide advanced evidence-based tool that will enable participants make meaningful contributions to policy debates and provide greater insights in a complex macroeconomic environment occasioned by a world of uncertainties. The main goal of this Stage is to provide the building blocks for the construction, calibration, simulation and estimation of DSGE models and appraise their usefulness for policy analysis.

Course objectives

The main objective of the proposed training programme is to train participants in macroeconomic model building. The specific objectives include the following:

Teach the theoretical foundations of DSGE models and how they relate to current policy issues.

Instruct participants of the rudiments in modelling Dynamic Stochastic General Equilibrium Model (DSGEs).

Educate them in the use of Dynare as a software for solving, simulating, estimating and forecasting DSGE models.

Implement basic computational approach to analysing dynamic models, showing how the model economies respond to different shocks.

Understand how to extend the simple model to other domain of the economics.

Develop participants’ skills at analysing dynamic models.

Educate them in the use of Dynare as a software for solving, simulating, estimating and forecasting DSGE models.

Develop participants’ skills at analysing dynamic models.

Expected Audience

Postgraduate Students, Researchers, Policy-makers and Industry-Practitioners and Management Consultants.


Undergraduate macroeconomics. Some knowledge of any programming skills, desirable but not compulsory.

Analytical Software Requirement

Participants are expected to install MATLAB and DYNARE Software on their laptops.

Benefits of this Course

There are many benefits accruable to participants of the workshops as follows

Structure and Duration of the Course

The course runs over a series of two consecutive weekends: September 14th -16th and September 21st -23rd, 2023. It is broken into 12 Sessions. Since the training is Online, we encourage sharing of contacts among participants so that they can share ideas and concerns.


Some pre-course readings will be recommended ahead for those participants who wish to prepare in advance. The issues involved in the pre-reading will be subject of discussion during the course. The pre-reading is to get participants acquainted with some concepts.


Prof. Philip O. Alege

Lead Facilitator, International Trade

Dr. Queen Esther Oye

Monetary Economics

Dr. Omobola O. Adu

Informal Sector

Dr. Olabisi R. Oladipo

Labour Economics

Mr. Dauda Musa

Fiscal Policy

Dr. Omobola O. Adu

Informal Sector

Global shocks and the Emerging Economic Fallouts: Implications and Options for African Economies