Traineeship in International Macro Modelling in European Central Bank

Deadline: 19 August 2019
Open to: EU nationals
Benefits: the trainee grant is EUR 1,070 per month plus an accommodation allowance


You will be part of the External Developments Division and the International Policy Analysis Division in the Directorate General International and European Relations.

The Divisions prepare studies, briefings and reports in their areas of competence. They are currently working on enhancing ECB-Global, a semi-structural international macroeconomic model which has become a workhorse for simulating international spillovers at the ECB. In your role as trainee, you will be part of a cross-divisional team of 5 members of staff who develop their modelling infrastructure further and apply it in simulations. You will work closely with key ECB experts who are responsible for these workstreams.

The ECB is an inclusive employer and who strives to reflect the diversity of the population they serve. The ECB encourage you to apply, irrespective of your gender, gender identity, ethnicity, sexual orientation, age, religion, disability or other characteristics.

Your role

As a trainee you will:

  • engage and collaborate with experienced quantitative economists on the relevant opportunities and challenges ahead;
  • develop additional key quantitative tools as well as the modelling infrastructure of the Divisions;
  • contribute to scenario analysis and simulations regarding the international environment;
  • participate in discussions about the international environment and the use of macroeconomic models to respond to key policy questions;
  • present key findings to the relevant stakeholders within the ECB.

The position offers you excellent opportunities to interact with leading experts in the field, develop core macroeconomic modelling tools used in international simulation analysis, and to get acquainted with the practical policy work in an international organisation. You will be part of a multicultural team that strives for continuous innovation to make a positive impact on the lives of European citizens.


EU nationals eligible for this traineeship programme (read more).

Qualifications, experience and skills


  • a bachelor’s degree or higher in economics, finance, statistics, data science or a related field;
  • a sound theoretical background and ideally experience in (semi)-structural macroeconomic models (preferably dynamic stochastic general equilibrium models);
  • a good understanding of advanced econometric techniques;
  • proven experience in programming with MATLAB and Dynare;
  • a track record in conducting quantitative analyses;
  • an advanced (C1) command of English and an intermediate (B1) command of at least one other official language of the EU, according to the Common European Framework of Reference for Languages, read more.

You are curious and eager to learn, and want to further develop your ability to analyse complex information. You are keen to collaborate with others, pursue team goals and learn from other people’s diverse perspectives. You strive to know and anticipate stakeholder needs, and will signal any need for change and propose alternative solutions.


The trainee grant is € 1,070 per month plus an accommodation allowance (read more).

How to apply?

Traineeship of between 3 and 12 months in total.
The recruitment process for this position may include a remote written exercise and a (telephone) interview.

Read more information about the application and selection process here.

For additional information on this specific vacancy you can find on the official website.