Reserve Bank of Malawi (RBM) and Chancellor College’s Department of Economics (DOE) are today expected to sign a Memorandum of Understanding (MoU) that is expected to enhance coordination between the two parties on a number of aspects.
The MoU sets out the understanding in delivering the collaborative arrangement in the areas visiting lectureship by RBM staff, periodic refresher courses for RBM staff, joint authorship of papers on topical issues and the establishment of Malawi Journal of Economics (Maje).
Speaking to Business News on Wednesday, Chancellor College Principle Richard Tambulasi said their relationship with RBM is mutually beneficial in the sense that the department will get some support in some of its research activities while the department will transfer some technical skills to the bank.
“As a department, we look at this relationship as one way of increasing our visibility in the academia world,” said Tambulasi, also professor of Public Administration at the college.
The department, according to Tambulasi, shall accord the staff from RBM an opportunity to deliver lectures on practical aspects of economics to undergraduate and postgraduate students on a visiting lectureship arrangement.
He said in order to strengthen economic analysis, both RBM and the department shall from time to time conduct research jointly on topical issues in economics, based on the Mou.
Among the cornerstones of the MoU, Tambulasi said the pact will also help encourage the culture of monetary authorities to make statements based on research and evidence.
Previously, RBM has supported the department through sending its members of staff to a Masters Program apart from buying books for the department as well as providing it an endowment fund which has been used as seed money for starting the departmental building project.
Currently, some members of the RBM support the department’s teaching in practical courses such s Money and Banking (undergraduate) and Maters Degree in policy Analysis.