Questions on Applying Insights from Data Analysis, Economic Principles, and Policy Framework Development in Practical Situations
In the heart of Armenia, Gevorg Minasyan, the Director of the Research and Training Center at the Central Bank of Armenia, is leading a transformative movement towards evidence-based policymaking. This commitment extends beyond the short term, aiming to embed this approach in a broader ecosystem of public institutions throughout the country.
One timely example of this shift can be seen in Armenia's national push towards a cashless economy. Minasyan is using the analytical tools gained from the MITx MicroMasters Program in Data, Economics, and Design of Policy (DEDP) to evaluate policies related to this transition and propose necessary regulatory adjustments.
The DEDP MicroMasters Program, a joint initiative by the Abdul Latif Jameel Poverty Action Lab (J-PAL) and MIT Open Learning, offers comprehensive training in economics, data analysis, and policy design. The program consists of five online courses, each teaching core concepts such as microeconomics, economic theory, data analysis, and public policy evaluation.
Courses like 'Microeconomics' introduce fundamental concepts like supply and demand and market equilibrium, while 'Microeconomic Theory and Public Policy' applies economic models to analyze policies across various sectors, including labor markets and international trade. The program emphasizes building skills to create and evaluate public policies grounded in rigorous evidence, aiming to equip professionals and policymakers to design policies that effectively meet public needs.
Minasyan's success story is a testament to the program's real-world relevance and influence on policy design and evaluation. He is not alone; graduates of the DEDP MicroMasters Program are instilling evidence-based policymaking cultures in organisations across the globe.
Recognising the importance of policy evaluation as a standard practice, the Central Bank of Armenia recently collaborated with J-PAL Europe to co-design and host a policy design and evaluation workshop. The goal is to institutionalise this practice in Armenia, ensuring that all policy decisions are informed by data and evidence.
Minasyan emphasises the importance of more experimentation, piloting, and iteration before committing to large-scale rollouts of public programs. This approach prioritises learning before scaling, embedding a stronger feedback culture in policymaking.
In summary, the MITx DEDP MicroMasters Program offers learners a pathway to advanced MIT programs and extends learning opportunities globally through online access. By equipping professionals and policymakers with the skills to design effective, evidence-based public policies, it empowers them to make informed decisions that positively impact their communities.
- Gevorg Minasyan, the Director of the Research and Training Center at the Central Bank of Armenia, is leading a movement aimed at embedding evidence-based policymaking across a broader ecosystem of public institutions in Armenia.
- The DEDP MicroMasters Program, a collaboration between the Abdul Latif Jameel Poverty Action Lab (J-PAL) and MIT Open Learning, offers comprehensive training in economics, data analysis, and policy design.
- Courses such as 'Microeconomics' and 'Microeconomic Theory and Public Policy' are part of the DEDP MicroMasters Program, teaching concepts like supply and demand, market equilibrium, and applying economic models to analyze policies.
- Minasyan is using the skills gained from the DEDP MicroMasters Program to evaluate policies related to Armenia's transition to a cashless economy and propose necessary regulatory adjustments.
- By emphasizing learning before scaling and a stronger feedback culture in policymaking, Minasyan aims to prioritize effective public policy design that meets the needs of the public.
- The Central Bank of Armenia recently collaborated with J-PAL Europe to co-design and host a policy design and evaluation workshop, with the goal of institutionalizing this practice in Armenia.
- The MITx DEDP MicroMasters Program extends learning opportunities worldwide through online access, empowering learners with the skills to design effective, evidence-based public policies that can positively impact their communities and beyond.
