Questions on Applying Data, Economic Principles, and Policy Creation in Practical Scenarios of the Real World
In the heart of Armenia's financial sector, Gevorg Minasyan, the Director of the Research and Training Center at the Central Bank of Armenia, is spearheading a transformative initiative. The goal is to institutionalize the use of policy evaluation as a standard practice in the country, a commitment that reflects Minasyan's dedication to long-term advancements in evidence-based policymaking.
This shift towards a stronger feedback culture in policymaking is a gradual process, requiring more experimentation, piloting, and iteration before committing to large-scale rollouts of public programs. Minasyan's approach is reflective of this, as he relies heavily on the analytical tools from the MITx MicroMasters Program in Data, Economics, and Design of Policy (DEDP) to evaluate policies and propose regulatory adjustments within an inter-agency policy team.
The Central Bank of Armenia recently collaborated with J-PAL Europe to co-design and host a policy design and evaluation workshop, further underscoring the institution's commitment to evidence-based policymaking. This collaboration is part of Minasyan's broader effort to scale evidence-based decision-making across a broader ecosystem of public institutions in Armenia.
Key initiatives in Armenia's push towards a cashless economy include a cashback program for pensioners and the mandatory installation of non-cash payment terminals across businesses. These initiatives, along with the broader policymaking efforts, are subject to rigorous evaluation using the principles and methods learned through the DEDP program.
The MITx MicroMasters Program offers a unique blend of data science, economics principles, and policy design, aimed at equipping professionals like Minasyan with the skills to design, analyse, and implement evidence-based policies effectively. The program, which is accessible worldwide, consists of eight online courses taught by MIT faculty, covering microeconomics, development economics, probability, and statistics, with a particular emphasis on conducting randomized evaluations to assess social program effectiveness.
Students in this program, such as Minasyan, typically benefit from sharpening their economic intuition, learning quantitative and qualitative policy analysis methods, and gaining eligibility for advanced academic and professional pathways in public and international development policy. The program's rigorous curriculum, combined with its flexibility for working professionals, the opportunity to learn from Nobel laureates and leading researchers, and its connection to MIT’s broader educational mission via platforms like MIT Learn, enhances accessibility and lifelong learning opportunities, making the DEDP MicroMasters a strategically valuable credential for those pursuing impactful careers in policy design and evaluation.
[1] https://www.edx.org/micromasters/mitx-data-economics-policy-design [2] https://www.j-pal.org/programs/europe/armenia/ [3] https://www.centralbank.am/en/news/detail/1536 [4] https://learn.mit.edu/
- Gevorg Minasyan, the Director of the Research and Training Center at the Central Bank of Armenia, is utilizing lessons from the MITx MicroMasters Program in Data, Economics, and Design of Policy (DEDP) to evaluate policies and propose regulatory adjustments within an inter-agency policy team.
- The MITx MicroMasters Program, which is accessible worldwide, offers a unique blend of data science, economics principles, and policy design, aimed at equipping professionals with the skills to design, analyze, and implement evidence-based policies effectively.
- The Central Bank of Armenia, under Minasyan's leadership, recently collaborated with J-PAL Europe to co-design and host a policy design and evaluation workshop, reflecting the institution's commitment to evidence-based policymaking.
- Key initiatives in Armenia's push towards a cashless economy are under rigorous evaluation using the principles and methods learned through the DEDP program.
- The DEDP program, consisting of eight online courses taught by MIT faculty, covers microeconomics, development economics, probability, and statistics, with a particular emphasis on conducting randomized evaluations to assess social program effectiveness.
- Students in the DEDP program, such as Minasyan, typically benefit from sharpening their economic intuition, learning quantitative and qualitative policy analysis methods, and gaining eligibility for advanced academic and professional pathways in public and international development policy.
- This transformative initiative by Minasyan is part of his broader effort to scale evidence-based decision-making across a broader ecosystem of public institutions in Armenia.
- The general news outlets and the education and self-development sector are closely monitoring the impact of this approach on Armenia's policy and legislative landscape, including the online education domain, as it sets a precedent for future education and policymaking efforts. [References: 1, 2, 3, 4]
