Master in Central Banking

MASTER IN CENTRAL BANKING

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The Master in Central Banking (MCB) is a year-long residential program designed especially for central bankers. It includes a six-week MIT Sloan Immersion, where MIT Sloan faculty will teach courses emphasizing systems thinking, best practices, innovation and new technologies.

Participants will benefit not only from a curriculum that focuses obsessively on central banking, but also from the intense, hands-on experience of working in teams. They will leave the program with an international network of friends who speak the same language of central banking. Download our brochure to learn more.

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12-month residential program

A curriculum obsessively focused on central banking

Deep MIT faculty involvement

New, state-of-the-art campus in Kuala Lumpur

OUR MISSION IS TO NURTURE THE CENTRAL BANKERS OF THE FUTURE

Central banks are carrying out their mandates in a challenging economic environment and a world of fast-changing financial systems. In maintaining monetary stability, supervising banks, overseeing payment systems or managing reserves, they must transform themselves technologically.

The Master in Central Banking (MCB) program builds on the formidable intellectual resources of MIT – itself a major source of the innovations that are reshaping the environment for central banking – to equip participants with the analytical tools and the insights of experience that will allow them to embrace the challenges of the future.

Download our brochure for more information.

Download Brochure

WHAT SETS US APART

WHAT THEY SAY ABOUT US

Program offers Masters degree in central banking (Bloomberg)

Asian and US schools launch first degree course for central bankers (Nikkei Review)

The Asia School of Business ranked as Malaysia’s top economic research institution (Ideas Repec)

A CURRICULUM THAT FOCUSES OBSESSIVELY ON CENTRAL BANKING

The spirit of the MCB program is perfectly embodied in its curriculum, which focuses obsessively on central banking. It is integrative, connecting all the core functions of central banking. It is transformative, recognizing the importance of organizational management, with core courses on leadership and governance and in-depth training in communication and negotiation. As at MIT, the approach to teaching is forward-looking, drawing on systems thinking and emphasizing best practices, innovation and new technologies. The MCB curriculum revolves around the following six pillars:

Systems Thinking

Challenges of central banks
Crisis prevention and management
Capstone project

Financial Stability

Financial institutions accounting
Management of financial institutions
Functional regulation and supervision
Macro-prudential supervision
Regulation, cybersecurity and AML

Macroeconomic Stability

Macroeconomics: growth flunctuations and debt
Foundations of monetary policy
Monetary policy operations

Data and Digital Technology

Research methods for central bankers
Data analytics
Payment systems and digital currencies

Financial Markets

Financial market and asset pricing
Digitally transforming finance
Behavioral ﬁnance and inefﬁcient markets

Governance and Leadership

Strategy, leadership and organizations
Ethics
Political economy of central banking
Central bank governance
Communication and negotiation

ACADEMIC CALENDAR

Our full-time, 12-month MCB program features a core curriculum taught by MIT Sloan and ASB faculty, complemented by visits to financial institutions in the US and Asia. The curriculum includes a six-week residential program at the MIT Sloan campus in Cambridge, Massachusetts. The next intake is September 2023.

MIT IMMERSION

The MCB program is global. It includes a six-week MIT Sloan Immersion, where Sloan distinguished faculty deliver courses specifically designed for the MCB, as well as visits to financial institutions in the USA and Asia. Upon completion of the MIT Sloan Immersion, participants will receive a Certificate of Completion from MIT. Upon graduation, they will also receive the MIT Affiliate Alumni Status and MIT Email Forwarding for Life.

WORLD-CLASS FACULTY

The Master of Central Banking is taught by a mix of MIT Sloan faculty and world-class resident faculty at Asia School of Business. MIT Sloan faculty members teach both in Kuala Lumpur and during the six-week MIT Sloan Immersion. Additionally, former central bank governors and central bank experts from around the world teach short modules.

PROGRAM LEADERSHIP

Sanjay Sarma

Incoming Dean, Chief Executive Officer and President

Hans Genberg

Senior Director of Banking and Finance Programs

MIT ENGAGED FACULTY

Kristin J. Forbes

Jerome and Dorothy Lemelson Professor of Management

Simon Johnson

Ronald A. Kurtz
(1954) Professor of Entrepreneurship

Deborah Lucas

Sloan Distinguished Professor of Finance

Robert C. Merton

School of Management Distinguished Professor of Finance

ATHANASIOS ORPHANIDES

Professor of Practice, Global Economics and Management

Jonathan A. Parker

Robert C. Merton (1970) Professor of Finance

Roberto Rigobon

Society of Sloan Fellows Professor of Management

Antoinette Schoar

Stewart C.
Myers-Horn Family Professor of Finance

Eric So

Sarofim Family Career Development Professor

ADRIEN VERDELHAN

Stephens Naphtal Professor of Finance

ASB RESIDENT FACULTY

Triwit Ariyathugun

Assistant Professor of Economics
Ph.D. Chicago

Kevin Crow

Assistant Professor of International Law and Ethics
Ph.D. Universität Halle-Wittenberg

Ozer Karagedikli

Professor of Practice and Director of Central Banking Research Centre (CBRC)

Anella Munro

Professor of Economics
D.Phil. Oxford

Michael Frese

Professor of Management
Ph.D. Technical University Berlin

Ong Shien Jin

Professor of Practice
Ph.D. Harvard University

Ikuo Takei

Assistant Professor of Finance

AN EXTRAORDINARY ADVISORY BOARD

The Master in Central Banking benefits from the wisdom of an extraordinary Advisory Board, composed of a Nobel laureate and former central bank governors from around the world. The Advisory Board was deeply involved in the design of the program and development of the curriculum. Some of its members also teach in the program. Professors Merton and Orphanides are regular faculty members, while other Board members give guest lectures or teach short modules.

CO-CHAIRS OF THE ADVISORY BOARD

Robert C. Merton School of Management Distinguished Professor of Finance, MIT. Nobel Memorial Prize in Economic Sciences. Co-Chair, ASB Master of Central Banking Advisory Council.

Our understanding of how to extract maximal information from financial markets has increased dramatically, and having the analytical tools to make proper use of such information is critical for modern central banks. ASB’s program in Central Banking will provide the necessary tools and knowledge to support this strengthening of central banking capability.

Zeti Aziz Former Governor, Bank Negara Malaysia (2000 - 2016). Co-Chair, ASB Board of Governors. Co-Chair, ASB Master of Central Banking Advisory Council.

We believe that the ASB’s Master of Central Banking, in collaboration with the MIT Sloan School, will support the advancement of talent development for central banking around the world. In a rapidly changing and highly challenging environment, the demands on central banks are immense. Central bankers therefore need the capabilities to deliver the best possible policies and outcomes. Our program aims to contribute to building such capabilities.