About this learning event

Central Bank analysts often face challenges related to data availability and data quality when conducting quick and robust analysis of policy measures. Furthermore, the increasingly complex tasks that many departments are confronted with require an understanding of more sophisticated statistical and econometric techniques. Participants of the "Data Science Using R" course will benefit from a blended learning path whereby they will combine online and in-person training to acquire skills and gain experience in utilizing R - one of the leading software platforms for data analysis and econometric modeling. Initially, participants will receive access to online learning materials covering the basics of R, as well as a live webinar on February 24, 2025, outlining the course objectives, discussing installation of necessary packages, and setting clear expectations.

The in-person workshop will balance skill-building sessions, specialist topics, and a group project. Early sessions will emphasize fundamental data manipulation techniques, data cleaning, and exploratory data analysis, ensuring participants understand various data formats, effective visualization, and initial modeling approaches such as linear regressions. On subsequent days, time series analysis, more advanced modeling methods, and key forecasting tools will be introduced. Specialist topics, including nowcasting and the application of the Hodrick-Prescott filter, will provide deeper insights into sophisticated analytical techniques. The workshop will also guide participants in developing an interactive Shiny application to present their results. Throughout, a group project will run in parallel, allowing participants to apply new skills to relevant topics, culminating in final presentations where they share their data-driven insights and methodological approaches.

Faculty

• Alexandru Monahov, Expert Adviser, National Bank of Moldova 
• Živa Petkovšek, Consultant Assets Manager, Banking Operations Bank of Slovenia
• Mihaela Štiglic, Analyst, Analytical Research Department, Bank of Slovenia

Who should attend

This workshop has been designed for data compilers and analysts at central banks. Mostly analysts from areas of Financial Stability, Banking operations, Macroeconomic Analysis, Financial Statistics and Risk Management, will benefit.

Practical information

You are expected to take part in the whole learning journey, both online and in-person. The workshop will involve practical work that participants will prepare in groups. Therefore, participants are encouraged to bring their own laptops to the workshop in order to facilitate work on the exercises and examples. Only a small number of workstations can be provided by the CEF to participants who do not have the possibility to bring their own equipment.

Partners

This learning initiative is supported by: