JAPAN-IMF SCHOLARSHIP PROGRAM FOR ASIA 2019-20
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JAPAN-IMF
SCHOLARSHIP
PROGRAM FOR ASIA
2019–20
IMF-JAPAN
PARTNERSHIP
FOR ASIA'S FUTURE
To foster future macroeconomic policymakers
A scholarship for junior government officials in Asia who wish IMF-JAPAN
to pursue graduate-level economics at Japanese universities.
PARTNERSHIP
Funded by the Government of Japan
FOR ASIA'S FUTURE
Administered by the IMF Regional Office for Asia and the Pacific
The year 2018 celebrates the 25th anniversary of the JISPA.
Since its inception in 1993, the program has JISPA scholars are also invited to various activities,
targeted promising young officials from key economic including seminars on topical policy issues presented by
policymaking agencies as part of the International IMF staff and policy makers, an annual thesis presentation,
Monetary Fund’s capacity building efforts. With the roundtable discussions with officials from the Bank of
long-lasting support of the Government of Japan, IMF Japan and the Ministry of Finance in Japan, in addition
Regional Office for Asia and the Pacific (OAP) in Tokyo to welcome and farewell receptions. As a new initiative,
has hosted around 750 officials from over 20 emerging a workshop for scholars who will continue onto their
and developing economies in Asia and the Pacific region, second-year studies will be introduced with the aim of
including some countries in Central Asia, for graduate- providing practical training to complement the scholars’
level scholarships to study in Japan. course work at their universities.
Many JISPA alumni have reached key positions in With the newly established continued education
macroeconomic agencies in the region, including program for the JISPA alumni starting from 2018,
central banks and ministries of finance. Against this JISPA alumni are well connected even after they
background, the JISPA has developed a solid reputation graduate. This offers courses on more recent and
and established itself as a prestigious program among practical subjects facing policy makers to help the
Asian officials. Their achievements and contribution to alumni advance their career.
their countries continue to inspire young officials to
apply for the JISPA. Please review carefully the material in this brochure
and contact us directly if you have questions about
OAP teams up with partnership universities and the scholarship program.
continue to strive at enhancing the program. The
JISPA offers curricula which strike the right balance
between theory and practice, to meet the ever-changing
needs of the macroeconomic management in an
increasingly interconnected world. The curriculum
offered by each partnership university provides a
greater focus on financial sector issues, in addition
to core macroeconomics subjects. Each university has
identified a set of skills to help potential applicants
easily identify the program best suited for their career
and needs of their sponsoring agencies. JISPA scholars
can expect strong support from the faculty and staff
for their academic needs and acclimating to their life
in Japan: the Orientation Program (OP) is offered to Chikahisa Sumi
ensure that new entrants are well prepared in English Director
and mathematics/econometrics to commence their Regional Office for Asia and the Pacific
master’s programs. International Monetary Fund
ii
Contents
I. INTRODUCTION . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1
II. THE PARTNERSHIP TRACK . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2
The Japan-IMF Scholarship Program (JISPA) Partnership Universities
National Graduate Institute for Policy Studies . . . . . . . . . . . . . . . . . . . . . . . . 3-4
Hitotsubashi University . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5-6
International University of Japan . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .7–8
University of Tokyo . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9–10
Course Listing . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 11–14
Skills to be Attained . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 15–16
Orientation Program . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 17
General Information . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 18
Important Dates . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 19
Sample Math Test . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 21–22
III. THE OPEN TRACK . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 23
General Information . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 24
IV. ACTIVITIES FOR JISPA SCHOLARS . . . . . . . . . . . . . . . . . . . . . . . . . . . . 25-26
V. APPLICATION TO THE JISPA . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 27
Application Guidelines For Partnership and Open Track . . . . . . . . . . . . . . . . . . . 27-28
VI. CONTACT ADDRESSES . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 29-30
Comments made by the JISPA scholars through the survey taken at their graduation in AY2016-17 are inserted.
iii
I. Introduction
The Japan-IMF Scholarship Program for Asia (JISPA) was first Currently, the JISPA is open to qualified candidates from
introduced in 1993. It is funded by the Government of Japan, the following countries:
administered by the International Monetary Fund (IMF),
and conducted at various graduate schools in Japan. Its key Bangladesh, Bhutan, Cambodia, China, India, Indonesia,
objective is to contribute to institutional capacity building in Kazakhstan, Kyrgyz Republic, Lao P.D.R., Malaysia, Maldives,
economic policymaking to promote the sustainable growth of Mongolia, Myanmar, Nepal, Pacific Island Countries, Papua
emerging and developing economies in Asia and the Pacific. New Guinea, Philippines, Sri Lanka, Tajikistan, Thailand, Timor-
By training future macroeconomic managers in these countries, Leste, Turkmenistan, Uzbekistan, and Vietnam.
the JISPA aims to enable them to better formulate sound
economic and financial stability policies needed for sustainable The scholarship covers tuition-related costs and most living
growth and development. expenses for the scholar herself/himself. Officials who receive
the JISPA scholarship cannot accept other scholarships. Scholars
The JISPA targets highly motivated government officials who are expected to devote full time to their studies while in Japan.
may serve as future macroeconomic policy makers with the
capacity and vision to contribute effectively to the economic The program comprises of two tracks: the partnership track,
development of their countries. Scholarship awards are discussed in Part II of this brochure, and the open track, discussed
made on the basis of the candidate’s academic record and in Part III. Because of the strong competition for scholarships, the
work background, mathematical and statistics skills, English JISPA is highly selective. In 2019-20, a total of 33 new scholarships
language proficiency, and potential for contributing to the are available to candidates for the partnership track. There is no fixed
macroeconomic and financial management and economic
limit on new scholarships for the open track, but generally only a
development of their country. The assessment also includes
small number of scholarships are awarded.
qualities such as the candidate’s commitment to public
service, willingness to learn, and openness to new ideas.
Other than this assessment of individual candidates, country
and agency representation across the region and gender
balance among scholarship awardees are considered in
making the final selection.
JISPA Scholars by Affiliation, 1993-2017 JISPA Alumni Currently in Senior Positions 1
at Public Offices and Central Banks
(as of 2017)
24 (4%)
7 (1%) 14
21 (3%) Central Bank 12
12
24 (4%)
367 (55%) Ministry of Finance/Tax Authority 10
10 9
88 (13%) 8
Economic Affairs Ministry and Agency 8
Statistics Bureau 6 5 5
4
Trade/Commerce Ministry
4 3
2 2
2 1 1 1
Cabinet Office
136 (20%) 0
Others
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JISPA alumni and alumna who hold a position higher than Deputy Director or its equivalent.
1 I. Introduction
II. The Partnership Track
The partnership track of the JISPA allows scholars to study
in specially designed graduate level courses concentrating pursue their particular interests and research agenda.
on macroeconomics at an IMF partnership university. All programs contain a thesis or research paper component
The partnership universities are: that will allow the student to develop policy research skills.
The partnership universities have been selected for their strong
∙∙ National Graduate Institute for Policy Studies (GRIPS):
program content and excellent teaching faculties, but have
one-year and two-year programs
different strengths and characteristics. Applicants are therefore
∙∙ Hitotsubashi University: two-year program urged to study the contents of the programs, together
∙∙ International University of Japan (IUJ): with the “Skills to be Attained,” offered by each university
two-year program carefully before applying, as the application must indicate
which university they wish to enroll in.
∙∙ University of Tokyo (UTokyo): two-year program
The application deadline for the partnership track is
All subjects, including the thesis component, are taught
December 1, 2018. After an initial screening of applications,
entirely in English.
selected candidates will be contacted by the IMF to arrange
The universities offer programs for JISPA scholars designed an interview, which is typically done in their countries with
to equip scholars to engage in macroeconomic policy dialogue representatives from the partnership universities. A math and/or
at the international level. All of the programs have a strong English examination may also be administered at this time.
macroeconomic oriented focus, with core courses offered in The final selection will be made on the basis of the interview,
macroeconomic and financial theory and policies. In addition, math and English competencies, the application form, and any
the programs offer optional subjects that will help scholars other supplementary information.
The JISPA provides distinct opportunity of studying at
some prominent graduate schools in Japan. In addition
to academic study, the cross-cultural interactions, IMF-
sponsored events and networking with the future
macroeconomic leaders of Asia have helped me to
improve my individual capacity and thus paved the way
of enhancing my organization’s capacity. So, I would
like to express my heartfelt gratitude to the Japanese
government, Japanese people and the IMF.
2 II. The Partnership Track
The Japan-IMF Scholarship Program (JISPA)
Partnership Universities: Program Descriptions
National Graduate Institute for Policy Studies (GRIPS)
GRIPS is a graduate school specializing in education and research monetary and fiscal policies in domestic and global economies.
in the area of policy studies. Established by the Japanese It values education in principles and theories of macroeconomics,
government in 1997, GRIPS aims to provide interdisciplinary combining rigorous training in analytical and quantitative
education for future leaders in the public sector and to conduct methods with emphasis on macroeconomic policy analysis,
cutting-edge research on contemporary policy issues. GRIPS is design, and implementation.
located in Roppongi, one of the trendiest cultural and international
districts in the heart of Tokyo, and has a cosmopolitan atmosphere The MEP developed from the successful tradition of Transition
with around 20% of the faculty and 70% of students coming Economy Program, a partner of JISPA since the inception of the
from outside of Japan. scholarship program.
The predecessor of GRIPS was the Graduate School of Policy Sciences The Faculty
established in 1977 at Saitama University, the first graduate school The MEP is supported by full time faculty and visiting
for policy studies in Japan. lecturers. About 20 full time faculty members, many of which
are international scholars, form the core faculty of the program.
Based on research outputs and impacts, the economics group at The faculty at GRIPS include both members with solid academic
GRIPS was ranked Second in Japan and Eleventh among public trainings and outstanding publication records as well as practitioners
policy schools in the world (RePEc, May 2018). with extensive experiences in civil services and public policy
management. All of them are committed to educating new
Macroeconomic Policy Programs generations of policy makers and have rich experiences in
For JISPA scholars, GRIPS offers One year Macroeconomic Policy teaching and thesis supervisions.
Program and Two year Macroeconomic Policy Program (MEP).
One year MEP requires 34 credits for graduation and grants a The Curriculum
Master of Public Policy or a Master of Public Economics; Two The curricula consist of four components: required courses,
year MEP requires 44 credits and grants a Master of Arts in Public a policy paper (One year Program)/thesis (Two year Program),
Economics. Qualified candidates with strong competency who recommended courses, and elective courses. The required
are higly motivated to complete an intensive one year program courses, which include Macroeconomics, Microeconomics, and
are encouraged to apply for One year MEP. Qualified candidates Econometrics, provide solid training in principles and theories of
who have flexible working schedules, willing to devote more time economics and develop practical analytical skills for designing and
to thesis writing, and have a desire to develop more advanced evaluating macroeconomic policies. The variety of recommended
analytical skills are welcomed to Two year MEP. and elective courses gives students the chance to further advance
their analytical and quantitative skills as well as to develop their
The MEP is a professionally oriented program designed to train specialization in specific areas of interests, such as monetary
modern macroeconomic policy makers and professionals who policy, fiscal policy, international trade, and financial markets.
need to understand macroeconomic fluctuation and the roles of
3 II. The Partnership Track
Required Courses Qualifications
All MEP students must take the following eight courses: Candidates must hold a Bachelor’s degree from a recognized/
Macroeconomics I &II, Microeconomics I & II, International accredited university and must satisfy the English language
Finance, Introduction to Applied Econometrics, The World and requirements with a minimum TOEFL score of 550 (iBT 79) or IELTS
SDGs, and Introduction to Public Policy Studies. 6.0. A strong undergraduate background and work experience in
public policy related fields are also required.
Policy Paper/Thesis
One year MEP students are required to write a policy paper; Two Facilities
year MEP students are required to write a master’s thesis. Both GRIPS offers all necessary facilities for students. The GRIPS library
policy paper and thesis writings will be supervised by core faculty maintains an excellent collection of books, journals, databases,
members through thesis seminars. and reference materials. Wireless internet access is available on
campus. On-campus facilities also include a computer room,
Recommended Courses fitness center, auditorium, conference rooms, individual study
Recommended courses include quantitative analysis courses booths, and a health clinic staffed with an English speaking nurse
such as Applied Time Series Analysis for Macroeconomics, and doctor.
Applied Econometrics, Mathematics for Economic Analysis,
Statistics, Quantitative Social Systems Analysis, and Cost Benefit Accommodation is provided in GRIPS International House in
Analysis I &II. Nakano, the Tokyo International Exchange Center in Odaiba, Misato
Housing Complex in Saitama Prefecture, or in private apartments
Students may also choose from courses covering a wide range
recommended by the GRIPS Student Office.
of disciplines such as Accounting and Financial Management,
Empirical Finance, Financial Economics, Monetary Economics,
Further information on the program can be found on the GRIPS
International Trade, Public Expenditure Management,
website at http://www.grips.ac.jp/en.
Development Economics, Game Theory, and Japanese Economy.
Advanced Courses in Economics
Students with exceptional qualifications and capacities have “The Macroeconomic Policy Program (MEP) at GRIPS
opportunities to take advanced economics courses offered to Ph.D. provides macroeconomic policy makers the ability to
candidates of the Policy Analysis Program. guide the economy to stable and sustained growth.
Many of our graduates are currently playing leadership
GRIPS Forums and Seminars in Frontiers roles in the public sector such as government ministries
of Economics Research and central banks. Join the MEP and get a boost in
The bi-weekly GRIPS forum provides an excellent opportunity your career—it’s your turn to change your country for
for students to understand major economic and political issues the better!”
in Japan and the world. The weekly economic seminars open
students’ eyes to the frontier of economic research.
Please see page 11 for a complete course listing
and page 15 for “Skills to be Obtained by Scholars”.
Junichi Fujimoto
Program Director and Associate Professor,
Macroeconomic Policy Program, GRIPS
4 II. The Partnership Track
Hitotsubashi University
Founded in 1875, Hitotsubashi University is a leading university in The Faculty
economics and business in Japan. Today, it has four departments, The Asian Public Policy Program’s core faculty comprises full-
seven graduate schools, and two research institutes, covering the time teaching staff who combine Ph.D. degrees from top US and
fields of business, economics, law, and social sciences. It has an UK universities with professional working experience at policy
enrollment of approximately 6,000 undergraduate and graduate institutions including the IMF, World Bank, Bank of Japan, and
students, and a faculty and staff of over 550. Japan’s Ministry of Finance and the Financial Services Agency. In
addition to the core faculty, lectures are given by academics with
Master of Public Policy (Public Economics) outstanding reputations from the Graduate School of Economics
Asian Public Policy Program, of Hitotsubashi University as well as by leading professionals with
practical experience from public and private sector institutions.
School of International and Public Policy
Current Visiting Professors include those from Harvard University’s
For JISPA scholars, Hitotsubashi University offers the two-year
Kennedy School of Government and National University
Asian Public Policy Program (APPP) at the School of International of Singapore.
and Public Policy, leading to the degree of Master of Public Policy
(Public Economics). The program targets young professionals The Curriculum
in Asian governments, central banks and other policy-related The curriculum focuses on economic policy design and analysis,
organizations. The APPP has been and continues to be an and is conducted entirely in English. The curriculum consists of
important stepping-stone for such individuals to become fully- core theory courses, fiscal and regulatory policy, monetary and
fledged fiscal or financial economists, economic planners, policy financial policy, workshops on current topics, special intensive
analysts, and policymakers in their governments as well as in courses, and weekly seminars.
international organizations.
A strong emphasis is placed on seminar work and the master’s
The course distinguishes itself from other graduate programs thesis. Seminar work is a long-standing tradition of Hitotsubashi
offered in the public policy area by its strong focus on economic University, where a small group of students work together under
policy, with almost all of the required and elective courses the guidance of the academic advisor to discuss economic and
structured around economics and its applications to policy. policy issues as well as develop and discuss their prospective
The program aims to equip its graduates with the knowledge thesis. The thesis is a required element of the course and provides
and skills to analyze and develop policies against a sound an opportunity for students to apply their knowledge and skills
knowledge of economic theory. acquired from the APPP courses to analyze real-world policy
issues. A total of 44 credits and the submission of a thesis are
The Program is also especially attractive for the personalized
required for the degree.
attention it provides to the students. The class sizes are quite
small – at most around 15, and each full-time faculty supervises For those students who wish to pursue doctoral courses in the
around 4 student per annual intake, and is able to give close future, or who have specialized interest in non-economic area
guidance to the student’s academic undertakings. The small size of public policy, they may, with the advice and consent of their
of the Program also allows students to build strong ties with their supervisors, take advanced courses offered by the Graduate
fellow students, which can last a lifetime, and will be a valuable School of Economics or by the Global Governance Program
asset in their career. of the School of International and Public Policy.
5 II. The Partnership Track
Course Descriptions Qualifications
Core Courses taken in the first year provide basic theoretical and A minimum of two years’ full-time public sector working
analytical skills. The Elective Courses and Intensive Courses are experience in economic policy areas and a BA or BS degree
provided throughout the two years and focus on specific policy from an officially accredited university are required. A first
areas. Students are also required to take an English Thesis Writing degree in Economics would be an advantage, but the program
course. The Master’s thesis is the focus of student’s study during welcomes those with other background with a strong desire
much of the second year. and commitment to study economics. Candidates should have
high English proficiency, i.e., TOEFL score of 550 (CBT 213)/IELTS
Required Courses: Theoretical Foundations 6.0 or higher.1
Core theory courses provide a solid foundation in microeconomic
and macroeconomic theory and public sector economics Facilities
as a framework for policy analysis. Courses on quantitative The Asian Public Policy Program is located in central Tokyo.
techniques of economic analysis and financial programming for Adjacent to the Imperial Palace grounds, the campus is part of a
macroeconomic policy formulation are also required, with the new 23-story building, complete with high-tech communication,
latter offered as a two-week intensive course. library, conference and other facilities.
Hitotsubashi University offers single-occupancy rooms at the
Elective Courses: Policy Areas
University dormitory for all JISPA scholars. Provision of family
These courses cover major issues in specific policy areas, covering
room is subject to availability. However, please note that current
analytical and practical aspects of policies, with a special emphasis on
Program regulations do not allow students to bring their family
experience in Japan and Asia. For students with a tax administration
with them to Japan during the first year, due to the intensive
background, a special course is offered in association with the National
nature of the study.
Tax Agency of Japan, which provides practical knowledge and
experience on taxation issues. Further information on the program can be found on the
Hitotsubashi University website at
Courses on Current Issues: http://www.ipp.hit-u.ac.jp/appp/index.html
They are designed to provide students with a good understanding
of the current situation, prospects, and research of the current “Asian Public Policy Program offers an opportunity
topics, with lectures provided by external scholars, policymakers, to learn from professors who combine knowledge of
staff of international organizations, and other practitioners in economics with rich experience of implementing or
public policy, from both Japan and abroad. advising on economic policy. Students can study how
Japanese Language Course to analyze policy issues relevant in the real world on a
Intensive Japanese language courses are offered a few weeks a firm theoretical basis. Striking the right balance between
year for JISPA scholars. theory and practice is what we strive to achieve in our
Program, which we believe will greatly contribute to
Seminars your career.”
Students are required to belong to a seminar group led by their
academic advisor. They pursue academic topics of their interest,
which provides a basis for their thesis.
Extracurricular Activities
An overnight trip is organized at the beginning of each academic
year as a team building exercise. Field trips outside of Tokyo are
also organized. Furthermore, students are given an opportunity
to experience Japanese culture, including calligraphy, wearing Masako Ii
kimonos, visits to cultural/historical places. Program Director and Professor, Asian Public Policy
Program, School of International and Public Policy,
Please see page 12 for a complete course listing
Hitotsubashi University
and page 15 for “Skills to be Obtained by Scholars.”
1
Hitotsubashi University candidates are required to complete the admissions process for
the School of International and Public Policy in addition to the JISPA process, as a formality.
A separate application form must be filled out and submitted to the university with the required
documents. Hitotsubashi will contact their finalists for details following the determination
of JISPA application results.
6 II. The Partnership Track
International University of Japan (IUJ)
IUJ was founded in 1982 with extensive support from Japanese or related fields from prestigious universities such as Cornell
industrial, financial, and educational communities, and from the University, University of New South Wales, North Carolina State
local community of Minami-Uonuma City in Niigata prefecture. University, University of Oxford, University of Rochester, and
IUJ consists of two graduate schools: the Graduate School University of Wisconsin-Madison. Because many faculty members
of International Relations (GSIR) and the Graduate School of live around campus, they are readily available to the students.
International Management (GSIM). GSIR currently offers four
Master’s degrees: Master of Arts in Economics, Master of Arts in Faculty members promote the exchanges of ideas and discussions
International Development, Master of Arts in Public Management in an objective, supportive, and effective environment. They are
and Master of Arts in International Relations. The student body not only effective teachers but also productive and excellent
of IUJ comprises about 360 students representing about 60 scholars. Faculty members have been involved in various policy
countries across the globe. related research projects financed by organizations such as the
Japan Society for the Promotion of Science, Japan International
In response to strong needs for higher level professionals in an Cooperation Agency, Economic Research Institute for Northeast
increasingly globalized society, GSIR launched a PhD Program Asia, and United Nations University. Their research results have
in September 2015. Targeting future leaders in international been published in internationally refereed academic journals.
organizations, public organizations and/or governments, the PhD The JISPA scholars are given the opportunity to learn from and/or
Program aims at fostering high level professionals playing an be involved in these projects.
important role in international arena with theoretical, analytical,
and practical abilities as well as fostering researchers to operate The Curriculum
effectively in international society. The curriculum is designed for the scholars who need the
critical skills and knowledge of basic macroeconomic concepts
Macroeconomic Policy Program (macroeconomic and microeconomic theories, monetary
For JISPA scholars, IUJ offers the two-year Macroeconomic Policy economics, international trade and finance, financial economics,
Program (MPP). The program provides rigorous training in the public finance and taxation, econometrics) with a strong emphasis
principles of economics and their applications in policy analyses. on macroeconomic policy formulation and public finance, central
The program’s objective is to equip scholars with a comprehensive banking and monetary policy, and financial market policy.
understanding of contemporary macroeconomic issues and to help The two-year curriculum consists of required courses, elective
scholars contribute to sustainable economic growth and development courses, and advanced seminars.
in Asia and the Pacific. The curriculum of the program is designed
especially for the government officials from ministries of finance, First year: The first-year curriculum introduces core required
central banks, and other public institutions. Emphasis is placed on courses that provide the scholars with tools, concepts, and theories
macroeconomic policy formulation and public finance, central banking in economics and related fields (please refer to our course listing).
and monetary policy, and financial market policy, which contribute It also trains scholars on how to use various software packages for
to human capacity building of such organizations. empirical and quantitative analyses such as STATA, E-Views, Gauss,
Matlab, and Fortran. Empirical methods including structural
The Faculty model and quasi-experimental approaches are covered. Advanced
Faculty of the Macroeconomic Policy Program (MPP) consists macroeconomic models such as CGE and DSGE are also taught.
of core full-time and visiting faculty members. All core full-time These courses expose the scholars to cutting-edge knowledge
faculty members have obtained PhD degrees in economics in macroeconomics, thus helping them to analyze public policy
7 II. The Partnership Trackissues within inclusive and coherent theoretical and empirical from throughout the world. IUJ has four on-campus student
frameworks. The scholars start preparations for a master’s thesis dormitories, of which three are for single students and a small
on a unique, macroeconomic related issue toward the end of the one for married students. An English-speaking dorm staff’s office
first-year. Before the spring term of the first year, all scholars need is open from 9:00a.m to 5:00p.m. throughout the year, including
to decide their research topic and choose an academic supervisor. weekends and national holidays. For meals and daily supplies, IUJ
They, with their supervisor’s guidance, plan which elective courses has a 24-hour simple café, a cafeteria with Halal offerings, and a
to enroll in that will help them explore their research topic. school shop. Some students prefer cooking their own meals in
the common kitchens in the dorms. Along with sporting facilities
Second year: The second-year curriculum consists of elective include tennis courts and a gymnasium, students also have easy
courses and a master’s thesis writing. Practical and policy- access to ski slopes in the winter and hiking trails in summer.
oriented courses expand the theoretical and empirical capabilities There are numerous club activities and extra-curricular activities on
developed in the first year. Simultaneously, the scholars and outside of campus throughout the year. Counseling services
concentrate on their master’s thesis while participating in in English are available on campus. A well-experienced counselor
advanced seminar sessions under supervision of faculty members. with an international background is stationed to support your
Through the process, the scholars have an opportunity to analyze campus life with private and confidential consultation on a wide-
their research topic in depth by integrating theories, methods, range of issues including stress managements, anxiety, personal
concepts and their practical applications that they have acquired issues, interpersonal issues, etc.
in the entire two-year program.
Further information on the program can be found on the IUJ
Seminars and other activities website at http://www.iuj.ac.jp/gsir.
A series of workshops and seminars conducted by renowned lecturers
and practitioners enable the scholars to obtain practical knowledge. The latest brochure of the GSIR is also available upon
Field trips to various Japanese financial institutions and cultural places request through the internet at
also enrich their IUJ experiences. http://www.iuj.ac.jp/admis/request.
Language programs
GSIR offers a sequence of English and Japanese language courses
throughout two years of study. The English Language Program
provides effective English language courses to the JISPA scholars “The educational goal of the Macroeconomic Policy Program
who need to improve their English language proficiency. In (MPP) at IUJ is to train students as rigorous macroeconomic-
addition, the Japanese Language Program offers courses from policy makers and/or analysts. To achieve this goal, the MPP
introductory to advanced levels. systematically provides a sequence of economics-related
Please see page 13 for a complete course listing courses, ranging from the introductory to advanced ones,
and page 16 for “Skills to be Obtained by Scholars.” and covering both qualitative and quantitative ones. The MPP
courses are challenging, but the outcome of two-years hard
Qualifications working will be highly rewarding. The MPP faculty welcomes
Candidates with a strong desire to study and contribute to your application.”
macroeconomic policy formulation in their countries are encouraged
to apply. A strong undergraduate background, evidence of experiences
with public policy issues, and high English proficiency are required.
Facilities
There are three computer labs on campus. In the dormitories,
students can also access a highly efficient campus-wide Local Area
Network (LAN), which is linked to the internet 24 hours a day. IUJ’s
Matsushita Library and Information Center has a large collection of Prof. Yusuke Jinnai
books (hard copy and e-books), journals, and databases in the area Associate Professor and Program Director,
of business, economics, finance, and politics. It serves as a gateway Macroeconomic Policy Program, Graduate School of
for students to access a wide range of important information International Relations, International University of Japan
8 II. The Partnership TrackThe University of Tokyo (UTokyo)
Study at the University of Tokyo: schools (provided language proficiency requirements are met).
Tradition of Excellence. MPP/IP applicants are expected to demonstrate basic competence
As a leading research university with over 4,000 faculty and nearly for learning law, politics and economics.
30,000 students, UTokyo offers courses in essentially all academic MPP/IP consists of two policy streams, namely, Economic Policy,
disciplines at both undergraduate and graduate levels. In addition Finance and Development (EPFD) and Public Management and
to providing students with a learning environment that is ideal for International Relations (PMIR), and JISPA scholars will be
both intellectual development and professional skills attainment, enrolled on EPFD.
UTokyo is known worldwide for the cutting edge research
undertaken within the institutions. The Faculty
Three UTokyo Graduate Schools (Public Policy, Economics, and
Graduate School of Public Policy (GraSPP) Law and Politics) contribute the core teaching staff of the MPP/
GraSPP was established in 2004 with a mission to bridge IP; although other Schools and Research Institutes also provide
the gap between academic learning and public policy practices. courses being integrated with the program. The School boasts
Academic staff and private / public sector policy practitioners work expertise in macroeconomic and monetary or financial economics,
closely together to connect social science theories to real world thanks to faculty members with a breadth of applied experience
problems. In the modern globalized world, effective policy-making from organizations such as the IMF, the Ministry of Finance, the
requires an international perspective. This, coupled with strong Bank of Japan, and the Council for Economic and Fiscal Policy.
foundational academic training, is what we seek to provide for our Located in the city center, UTokyo is able to exploit its proximity
student body in preparation for careers spanning government, to the government offices and corporate headquarters to attract
business, and the public sector. Despite a short history, GraSPP is many prominent professionals and practitioners as part-time
now recognized as a leading public policy school in Japan. About teaching staff in the program.
a third of the GraSPP graduates have been placed in various
government organizations. The Curriculum
The GraSPP curriculum encompasses a wide range of public policy
Master of Public Policy, International Program sub-fields including microeconomics, macroeconomics, policy
(MPP/IP) process studies, governance and development. JISPA scholars are
UTokyo offers the 2-year Master of Public Policy, International required to complete 46 units in two years (please see a course
Program (MPP/IP), which was launched in October 2010. An listing for details).
extensive and diverse menu of courses in English are offered to
learn cutting edge approaches to the public policy arena from Economic Policy, Finance and Development (EPFD)
internationally renowned faculty members at UTokyo.1 Extra- All those involved in public policy now face greater opportunities
curricular activities organized by the School and student groups and responsibilities to address various challenges stemming from
allow for increased social and scholarly exchange between globalizing economic activities with evolving social and political
Japanese-stream and English-stream MPP students. Furthermore, systems. Naturally, there is a growing demand for public policy
MPP/IP students are also able to take courses in other graduate practitioners equipped with professional knowledge and practical
skills. Against this background, those who aspire to be globally
competitive public policy practitioners are increasingly required
All courses offered in the MPP/IP are also open to English-proficient students in the Japanese
to broaden their intellectual horizons, acquire specialized
1
MPP programs.
9 II. The Partnership Trackknowledge, sharpen analytical skills and strengthen practical The University of Tokyo Library System is composed of about 40
capacities. EPFD is designed to meet this demand by offering libraries, including the General Library, the Komaba and Kashiwa
courses suited for those who want to advance their careers in Libraries, and faculty / institutional libraries. The General Library
government, business, international organizations or NPOs in is the system’s main coordinating body. Each faculty / institution
the field of economic policy, finance and development. library has a large number of materials in their specialized fields.
First Year: In the first year, students are expected to take most GraSPP’s International Student Advisers provide student support
of the required core courses as well as one or two case studies. services to help them complete their enrolment and arrange
for visas. Advisors also help coordinate applications for student
Second Year: In the second year, on top of taking other elective dormitories or find accommodations through private real
courses, students focus on writing a research paper/thesis estate firms.
frequently focusing on topics examined in case study courses
to apply to policymaking in the context of their home countries. Japanese Language Courses
The University of Tokyo’s International Center offers a variety of Japanese
Other Recommended and Elective Courses language courses for international students. For further information,
Elective courses cover a range of topics, including Development please visit the website:
Economics: Macroeconomic Approach, Asian Financial Markets, http://www.nkc.u-tokyo.ac.jp/index_e.html
Theory and Empirics of Unconventional Monetary Policy,
Development Finance, and Asian Economic Development and Further information on GraSPP is available on the following website:
Integration. GraSPP also hosts a Public Policy Seminar Series, http://www.pp.u-tokyo.ac.jp/en/index.htm
inviting world leaders in government, academic and business
fields to deliver lectures on current public policy issues. Further information on MPP/IP is available on the
following website:
Please see page 14 for a complete course listing http://www.pp.u-tokyo.ac.jp/en/mppip/http://www.pp.u-
and page 16 for “Skills to be Obtained by Scholars”. tokyo.ac.jp/en/mppip/?page_id=9
Qualifications
Candidates must hold a Bachelor’s degree or its equivalent from
a recognized/accredited university and are expected to possess “In the new school building completed last year, GraSPP
high English language proficiency to be able to pursue studies. students and faculty are enjoying the splendid educational
A minimum TOEFL score of PBT 570 (CBT 230, iBT89) or IELTS environment that serves and matches an increasingly
6.0-6.5 is expected. A strong undergraduate background and/ diverse student body. The school continues to upgrade
or evidence of experience with public policy issues in economic interdisciplinary training with a balanced mix of law, politics,
management are also required.2 and economics, including classes offered by faculty members
with practical experience, as well as hands-on training that
Facilities draws on real-world case studies.
The main campus of the university is located in Hongo, Bunkyo-ku,
Tokyo and occupies about 56 hectares of the former Kaga Yashiki, I hope that our students can make the most of these learning
the Tokyo estate of a major feudal lord. Parts of the seventeenth environments and transform themselves into public policy
century landscaping of the original estate have been preserved professionals.”
to provide greenery and open space.
2
Successful candidates for GraSPP are additionally required to complete and pass
the formalities of admissions process for the GraSPP. A separate application form
must be filled out and submitted to the MPP/IP Admissions Office, following the
instructions from the university after the JISPA final selection in mid-April 2019.
The application form will be sent from MPP/IP Admissions Office via email.
Akio Takahara
Dean, Graduate School of Public Policy,
University of Tokyo
10 II. The Partnership TrackCourse Listing
GRIPS
Macroeconomic Policy Program Theory and Practice of Central Banking:
Japanese and Global Experience
Master of Public Policy or Master of Public Economics Environmental Economics
(One-Year Program) Resource and Energy Economics
Master of Arts in Public Economics Contemporary Japanese Economy
(Two-Year Program) Japanese Economy
Required Courses and Policy Paper Japanese Financial System
(One-year Program) Financial Economics
Required Courses and Thesis Empirical Finance
(Two-year Program) Japan and the Global Economy I, II
Cost Benefit Analysis I, II
Required Courses
Economic Modeling for Policy Simulations
Macroeconomics I & II Development Economics
Microeconomics I & II Asian Financial Markets
International Finance Labor and Health Economics
Introduction to Applied Econometrics Computer Programming for Economics
Introduction to Public Policy Studies Politics of Global Money and Finance
The World and SDGs Accounting and Financial Management I, II
Policy Paper Seminar I–III Fiscal and Monetary Policies in Japan
(One-year Program) Structural Reform and Privatization
Thesis Seminar I–IV Public Expenditure Management
(Two-year Program)
Modernization of Financial Sector:
Recommended Courses Lessons from Recent Financial Crises
International Development Policy
Monetary Economics (Money and Banking) GRIPS Forum
Government and Market Statistics
Applied Time Series Analysis for Macroeconomics Quantitative Social Systems Analysis
Applied Econometrics East Asian Economies
Applied Econometrics Practice Introduction to Quantitative Methods (Two year Program)
Strategy for Economic Development
Trade and Industrial Development Elective Courses
Game Theory Advanced Economic Courses for Qualified Students
Mathematics for Economic Analysis
Advanced Macroeconomics I–IV
Public Finance
Advanced Econometrics I–III
Fiscal Reform in Japan
Advanced Econometrics IV (Two year Program)
Economics of Tax Policy
Advanced Microeconomics I–IV (Two year Program)
Public Economics
Other courses offered by GRIPS
Reform of Economic Policy in Japan
Economics of Education and Labor
Economics of Law
Competition and Regulatory Economics
International Trade
The JISPA could help improve our personal
ability which will help make right decisions
on the economy in the future.
11 II. The Partnership TrackHitotsubashi University
Master of Public Policy (Public Economics)
Asian Public Policy Program
Required Courses/Seminar Works Compulsory/Elective Courses
Economics of the Public Sector Issues on Public Policy I
Microeconomics for Public Policy Issues on Public Policy II
Macroeconomics: Theory and Policy Issues on Public Policy III
Fundamentals of Econometric Methods Issues on Public Policy IV
Seminar I Issues on Public Policy V
Seminar II Issues on Public Policy VI
Issues on Public Policy VII
Issues on Public Policy VIII
Compulsory Course Issues on Public Policy IX
Financial Programming for Macroeconomic Policy Formulation Issues on Public Policy X
Workshop on Current Topics
English Thesis Writing I Note: For those students who wish to pursue doctoral courses in the future,
English Thesis Writing II they may, with the advice as well as approval from their supervisors,
take advanced courses offered by the Gradudate School of Economics
such as Intermediate Macroeconomics, Advanced Macroeconomics,
Advanced Microeconomics or sometimes by other graduate schools at
Elective Courses
Hitotsubashi University.
(Fiscal Policy)
Economic Analysis of Tax Systems
Tax Policy I: Policy and Systems
Tax Policy II: International Taxation
Fiscal Decentralization and Local Government Finance
Field Research on Tax Administration
(Public Sector Policy)
Economic Analysis of Public Investments
Economic Analysis of Regulation and Public Enterprise
Economic Analysis of Social Policy
Economic Analysis of Social Security Systems
(Monetary and Financial Policy)
International Economy and Finance: Policy and Institutions
Financial Sector Reform and Development
Monetary Policy in Theory and Practice
Asian Economic Development and Integration
(Joint Course)
Public Policy in Asia
The program from the university was deliberately intellectual
and comprehensive. The JISPA alumni have become more well-
rounded and could acquire hands-on policy-making skills.
12 II. The Partnership TrackInternational University of Japan (IUJ)
Master of Arts in Economics
Macroeconomic Policy Program
Required Courses Mathematics for Economics and Management
Monetary Policy in Developoing Countries
Microeconomics I: Price Theory
Policy Evaluation
Microeconomics II: Strategic Behavior and Information Analysis
Public Finance and Budgeting
Macroeconomics and Policy Analysis
Research Methodology
Macroeconomics I: Income Theory
Time Series Analysis
Macroeconomics II: Business Cycle and Growth Theory
Statistical Methods Other Elective Courses
Macroeconomics and Policy Analysis
Public Administration
Econometrics
Public Human Resource Management
Public Finance
Public Finance and Budgeting
Monetary Economics and Policy Analysis
Managing Public Organizations
International Trade
Public Policy Process
International Finance
Electives: Recommended Courses Note: Other courses offered by the Graduate School of International
Management (GSIM) can also be counted toward degree.
Business Presentation
Contemporary Japanese Economy English/Japanese Language Courses are not counted for the total
Cost Benefit Analysis number of required credits.
Cross-Sectional and Panel Data Analysis
Development Economics Online syllabi are available at
Development Policy and Globalization http://www.iuj.ac.jp/ir-info/
Environmental and Health Economics
Economics of Poverty and Inequality: Modeling and Forecasting
Financial System and Financial Regulation
Industrial Organization and Policy Analysis
Intercations, Institutions, and Economic Development
Investment and Asset Pricing
Japanese Educational System and its Impact on Development JISPA has been my stepping stone to achieving my
Japanese Corporate Finance and Financial System better career. Through JISPA, I gained a network with
and Its Impact on Development
Japanese Public Finance and Administration and Its Impact policymakers from different countries, which will be
on Development useful not only for me but also for my organization.
13 II. The Partnership TrackThe University of Tokyo (UTokyo)
Master of Public Policy
Master of Public Policy, International Program (MPP/IP)
Economic Policy, Finance and Development (EPFD)
Completion requirements B. Econometrics for Public Policy • Contemporary Chinese Diplomacy
(4 credits) and Practice Session for • International Politics in East Asia
Econometrics for Public Policy • Conflict Prevention and Post Conflict
MPP/IP requires two years of (1 credit)
full-time study to earn 46 course credits Politics
or more. C. Econometrics I (2 credits) • Global Governance
and Econometrics II (2 credits) • New Dimensions of Security
offered by the Graduate School in the Risk Age
Economic Policy, Finance and of Economics
Development (EPFD) • Transformation of Warfare
and Technology
I. COMPLETION OF BASIC ECONOMICS II. COMPLETION OF LAW AND POLITICAL • U.S. Diplomacy toward Asia
(12-15 credits from SCIENCE (6 credits, including 2 credits • Asia-Pacific Policy
all the three groups 1 to 3) obtained for one of the compulsory
elective courses indicate with * below)
1. A or B or C Law courses:
A. M
icroeconomics for Public Policy Public Management • Law and Public Policy
(4 credits) and Practice Session for courses including:
• Public International Law and Domestic
Microeconomics for Public Policy • Politics and Public Policy* Implementation
(1 credit) • Introduction to Public
B. Microeconomics (4 credits) and Management III. COMPLETION OF CASE STUDIES
Practice Session for Microeconomics • Comparative Political Parties OFFERED BY GRASPP (8 credits)
(1 credit) and Elections
C. Microeconomics I (2 credits) • Policy Process and Negotiation IV. COMPLETION OF COURSES TAUGHT
and Microeconomics II (2 credits) • Science, Technology and Public Policy IN ENGLISH (28 credits out of 46,
offered by the Graduate School • Governance and Development double-countable)
of Economics • Comparative Analysis of Japanese
2. A or B or C Economic Public-making Process V. COMPLETION OF COURSES
A. M
acroeconomics for Public Policy • Boom, Bust, and Beyond: the Political CATEGORIZED AS PRACTICAL TRAINING
(4 credits) and Practice Session for Economy of Development in East Asia (4 credits out of 46, double-countable)
Macroeconomics for Public Policy
(1 credit) International Relations Additional requirement for IMF scholars:
courses including: Research paper or thesis credits are
B. Macroeconomics (4 credits) and
• Introduction to International Politics* required for IMF scholars in the second
Practice Session for Macroeconomics
• International Conflict Study* year of study.
(1 credit)
C. Macroeconomics I (2 credits) and • Field Seminar in International
Relations* Note: Courses are subject to change.
Macroeconomics II (2 credits)
• International Relations and Political Complete graduation requirement
offered by the Graduate School
Regimes is available at:
of Economics
• Security Studies http://www.pp.u-tokyo.ac.jp/en/
3. A or B or C
• Modern Japanese Diplomacy education/master-course/
A. S tatistical Methods (4 credits) and
• Insurgency and Counterinsurgency
Practice Session for Statistical
Methods (1 credit) • Contemporary Chinese Politics
14 II. The Partnership TrackSkills to be Attained by Scholars
Candidates are kindly requested to carefully review and study the “skills to be attained by scholars” proposed by each
partnership university so that they can identify the university which best provides the skills and knowledge that they seek
for their career progression and meet the needs of the target agencies. This also aims to assess scholars’ achievements at
the time of their graduation to evaluate the effectiveness of the program as part of a results-based approach.
GRIPS Hitotsubashi University
Knowledge of graduate-level economic theory. In particular,
Scholars are expected to acquire a solid theoretical foundation in
the textbook used for microeconomics (Snyder & Nicholson),
core economic subjects such as macroeconomics, microeconomics,
which contains fairly technical materials, is taught to APPP
and econometrics.
students without skipping its math components.
Knowledge of econometrics, supplemented by an elective
Scholars are expected to enhance their expertise in economic
course dedicated to time series analysis. All APPP students use
topics of their interest such as monetary policy, financial markets,
econometrics, sometimes rather sophisticated techniques,
economic development, and policy evaluation.
for their thesis.
Understanding of a broad range of policy issues and analyses,
Scholars are expected to learn the experience of policy design in
taught by professors, in house as well as from outside, who are
developed countries, particularly Japan, and in other developing
equipped with both an academic background and practical
countries through practical and case-study courses.
policy experiences.
Skills to write a thesis paper (80-100 pages long) in English,
Scholars are expected to acquire skills in econometric softwares helped by academic advisors as well as a professor who specializes
(Stata, Eviews), which is essential in conducting their own research. in English thesis writing. Also, 7-8 term paper requirements from
elective courses and the Workshop on Current Topics.
Scholars are expected to learn how to write academic papers,
which includes understanding the issue of plagiarism, rules for Ability to do a presentation in English through seminar classes,
citation, and the basic structure of thesis/policy paper, and how many of elective courses, and the oral defense of the thesis (10-15
to orally present their results, which includes conveying main ideas times of presentations altogether for each student during the two
clearly and concisely, creating appropriate slides, and interacting years of enrollment).
with the audience in a professional fashion.
15 II. The Partnership TrackInternational University of Japan The University of Tokyo
Problem finding and solving: Students are expected to acquire
up-to-date analytical skills to find and solve macro and financial
The JISPA scholar is expected to equipped with quantitative skills
economic issues in their countries. The program offers rigorous
of macroeconomic forecast and analysis. These skills allow them
training on economic theories and empirical techniques by the
to conduct rigorous empirical research and to be familiar with
frontier academic researchers. The real world experiences are shared
computational/statistical tools, such as Stata Eviews and R packages.1
by the top practitioners in international organizations, central banks,
government offices, development banks, and so forth.
Global perspective: Students are expected to gain a global
The JISPA scholar is expected to acquire the ability of analyzing perspective. Both lecture-style classes and case study classes cover
fiscal and monetary policy effects based on cutting-edge theoretical issues faced by various countries and international organizations.
models and accompanied by simulation approach (Dynare on Class discussions are often lively with fellow students of various
Matlab or Fortran programming).2 backgrounds, who contribute to class discussions by presenting
their own experiences in their home countries.
The JISPA scholar is expected to gain the competency of crisis Communication skills: Students are expected to polish up their
management. This potential is developed by their involvement presentation and discussion skills, which enhance their influence
and participation in various seminars and workshops, and also the on policy debates. The program offers many case study courses,
experience sharing from Japanese Business Sector (Mizuho Bank which often require students to present their findings and views
and Morgan Stanley) and high-ranking officials from Bank of Japan in front of the class and to discuss openly and critically among
(BOJ) and the IMF. 3
themselves. The faculty members guide students to become
effective communicators. Moreover, through writing a master
thesis or a research paper, students enhance their writing skills
to construct documents professionally.
The JISPA scholar is expected to receive the ability of (academic)
English writing and presentation skills. This ability allows them The training is provided in the classes of “Econometrics”, “Time
1
be capable of writing research reports, or other forms of policy Series Analysis”, and “Cross-Sectional and Panel Data Analysis”.
recommendations in a logical, clear, elegant way.4
2
The training is provided in the classes of “Monetary Theory and
Policy Analysis”, “Public Finance”, “Macroeconomics and Policy
Analysis”, and “Computable General Equilibrium Modeling”.
3
The training is provided in the classes of “Global Market
Seminar Mizuho Financial Group”, “Macroeconomic Analysis
The JISPA scholar is expected to learn teamwork and to build up and Policy Formulation”, “Financial Markets and Globalization”,
leadership due to the valuable feature of our environment: they and the internship opportunities in BOJ and Ministry of
interact with other scholars from similar government organizations Finance Japan.
closely in living, studying, and working. This strong bonding will be
the invaluable assets for their future career. These skills are developed through thesis writing, and class
4
presentation. English classes are also available in enhancing
students’ learning.
16 II. The Partnership TrackYou can also read
