The GIBS /Economic Modelling Academy (EMA) partnership recognizes the importance of economic modelling as advanced analytical and decision-making tools for forward looking entities to ensure well-trained, knowledgeable, and responsible leadership. EMA provides focused, applied and comprehensive training to enable leaders to better understand and use economic models more productively and skilfully.
Use economic models to think and plan strategically about the future demand and supply of skills and occupations in your industry and the economy.
Skills forecasting allow strategic executives to better plan their skills needs within the context of economic growth, changing technologies, knowledge obsolescence, and the 4th Industrial Revolution (4IR). Learn how to use models that link human resource requirements to growth of the economy, industries, and sectors in quantifiable terms.
In this hands-on course students learn how to use economic modelling and skills forecasting tools to combine economic, demographic, and education data with state-of-the-art statistical and modelling techniques to capture key interactions and interdependencies within the economy, including the labour market and the education sector.
Learn how to take skills planning and forecasting to the next level using a web-based linked macro-education model. Students will design alternative education and economic policy scenarios, conduct real time simulation of their scenarios, and receive medium- and long-term projections of the labour force, employment, job openings, job seekers, labour market (im)balances, and the demand and supply of skills and occupations.
Learners will also be able to view occupations in high demand and low demand, under alternative scenarios over the next 10 years. Moreover, students learn how to use the model’s 4IR module to design and simulate impact of alternative scenarios on demand for occupations and skills. All public and private organisations, including SETAs, that conduct research and/or are responsible for skills planning and HR strategy can use this course to learn how to design ‘what if’ scenarios about the economy, labour force, and the education sector and to obtain corresponding effects on future trends in demand and supply of skills and occupations for the economy, SETAs, provinces and economic sectors.