THE SELECTION PROCESS FOR THE IMF ECONOMIST PROGRAM

The International Monetary Fund (IMF) will invite approximately 85 candidates for the panel
interviews in Washington and Paris. Approximately 21 applicants are selected to join the
Economist Program (EP).

The selection process for the IMF EP consists of a preliminary interview, panel interview,
non-technical interview, written test, and a review of research paper, transcripts, and
references.

1. Preparation for the Panel Interview

The invitation to attend a panel interview at IMF headquarters indicates that you have reached
the final stages in the selection process for the EP. Should you pass the panel interview, your
file, which includes assessments of your panel interview performance, research work,
academic grades, and references, will be reviewed by the IMF’s Economist Selection
Committee. The selection committee will meet in late January and again in late
February 2008. We will advise you of the results between early-February and early-March.

Panel Interview Format

Before the interview, candidates are briefed by a member of the Recruitment and Staffing
Division. Candidates are then escorted to the panel interview where they will be interviewed
by a panel consisting of three senior level staff from different departments in the Fund. The
panel is facilitated by a human resources officer. The panel interview lasts a little less than one
hour and is conducted in the following format:

a) Candidates are normally first asked to summarize the main points of either their doctoral
dissertation or a recent research paper. Candidates should limit their summary to about five
minutes and should pitch the level of discussion at an audience of economists, not
specialists. It is generally advisable to avoid technicalities and to focus on the
(academic) reasons for undertaking the research, e.g., how the study was carried out,
the conclusions, and their policy implications. Candidates will be judged on their ability
to convey the essence of their research with clarity and brevity. The panel members
may then ask the candidate specific questions about details of the research.

b) The interview will then shift to questions on policy issues of the type that IMF economists
often encounter in their work. Some examples of topics likely to be covered are the
economic situation in a specific country; monetary policy matters; exchange rate issues;
and the tax, expenditure and financing options available to national authorities. Questions
tend to be couched in fairly concrete terms; e.g., if you were advising a government faced
with a certain set of conditions, what policies would you recommend? There is usually no
“right answer” to such questions. The panel wants the candidates to show in their
answers a sound understanding of the principles of macroeconomics and how these
concepts can be applied to real-life situations.

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Success in the panel interview will generally come from having a solid knowledge in advanced
macroeconomic issues and your relevant area of specialization, including your ability to
analyze economic issues. Insofar as one can prepare for the interview, some possible methods
are to

• Review a good graduate level text in open economy macroeconomics.

• Read the latest World Economic Outlook, published twice a year by the IMF (sections of
which are available on the IMF’s website: http://www.imf.org.)
• Read the last few issues of The Economist magazine.
• Practice answering questions with a faculty member or fellow student.

Be sure that you do not “over-prepare” and that you come relaxed and rested to the interview.
The panel is not only assessing your technical skills, but also how you would perform as a
potential colleague, as a “team-player” on missions, and as a representative of the IMF dealing
with government officials in countries throughout the world.

2. Additional Requirements

On the day of the panel interview, you will be asked to take a 90-minute writing skills test and
to have a separate interview with a human resources officer.

In the writing skills test, you will be asked (i) to prepare a summary of a 15-20 page paper,
and (ii) to draft a short commentary on the substance of the paper. You will be asked to draft
your answers directly on a computer. For your information, the Fund uses IBM-compatible
hardware and Microsoft Word software. You will be allotted 90 minutes to complete the
exercise under examination conditions. In judging this particular test, examiners are looking at
your ability to express yourself quickly and effectively in English, rather than at the depth and
sophistication of your economics.

The purpose of the interview with the human resources officer is to find out more about
you, for example

• Your interests and goals in studying economics.

• Your reasons for wishing to join the IMF.
• Your interests outside the area of you work and studies.

In addition, a person from the human resources department along with a current EP participant
will take all of that day’s candidates to lunch the day of the interview; the details of this lunch
will be confirmed the day you come for your interview. This lunch is not part of the selection
process—this is an opportunity for you to speak candidly about what you expect from the Fund
in the way of a career.

We hope that this interview (as well as the lunch invitation) will also give us the opportunity to
answer your questions about the International Monetary Fund.

3. Logistical Details
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Prior to your interview, if you have not already done so, please be sure that you have
completed an IMF online application form. To do so, please visit www.imf.org/recruitment.

You are requested to arrive at the Recruitment and Staffing Division office NO LATER
THAN the time indicated in the e-mail. You should not plan to leave before 5:30 p.m. (unless
you have made a prior arrangement with us). If you live outside the Washington, D.C. area, we
recommend that you arrive in the city the previous afternoon or early evening.

The IMF has a contract with American Express Travel Services to help with the arrangements
for official travel. Once you have confirmed your availability for the panel date assigned to
you, we will provide you with the contact information for American Express and your specific
Travel Authorization (TA) number. You will then be able to contact American Express
directly in order to book your economy-class airline flight and two nights hotel
accommodations in Washington, D.C. These costs will be paid for directly by the IMF; you
will NOT need to pay for any charges up-front.

On Arrival

On the morning of the panel interview, please report to the IMF Visitors Center at the
Headquarters II building at 1900 Pennsylvania Avenue, N.W. Once you have gone through
the security screeing, please have one of the security officers call Ms Erzsébet Varga
(ext. 38438) in the Recruitment and Staffing Division, Room HQ2-5A-391.

At your earliest convenience, but no later than by Friday, November 23, please send
electronically Ms Varga (evarga@imf.org) a copy of your most current resume and and your
economic research paper, in English, of which you are the sole author (not co-authored). On
the day of your panel interview please bring the following documents with you:

• Transcripts of your graduate-level studies (i.e. the official record of your courses and
grades, issued by your university).

• Three letters of reference.

Without the above documentation your application file is incomplete and will not be submitted
to the selection committee.

We will keep you advised of the status of your candidacy; should you not hear back from us
by the end of March 2007, please contact our office.

4. Frequently Asked Questions (FAQs)

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 How long is the panel interview?

Forty-five to fifty minutes.

 How long is the writing test? What are we looking for with this test? What computer
system do we use? Can the candidate write the test out on a piece of paper?

The test will be taken with two other candidates and will last 90 minutes. We will be
examining your writing skills, in English, simulating a situation where you have a
deadline to write a note/memo. This is not really a test of your economics, but of your
ability to communicate clearly in English. We use Microsoft Word. You will be asked
to type your response on the computer.

 How many people sit in on the panel interview?

Four (three senior level economists and a human resources officer).

 What else do I need to bring on the day of the interview?

Aside from the three references and your transcripts, please also bring your airline
ticket boarding passes or train ticket stubs, which will be attached to your travel claim.

 Will I receive any information by regular mail?

Due to the tight deadline, this notice will serve as formal confirmation of your
appointment.

For any questions, comments, or concerns, please contact a member

of the Economist Program Desk:
Ms Erzsébet Varga (Hugi)
email: evarga@imf.org
tel: 202-623-8438
Ms Pamela Grosvenor
Ms Quatrina Pohan
email : pgrosvenor@imf.org
email : qpohan@imf.org
tel : 202-623-7574
tel : 202-623-5455

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