CITBA Training Centre The Stock Flow Consistent Modelling (SFCM)

The Stock Flow Consistent Modelling (SFCM)

At CITBA, we provide training on Stock Flow Consistent Modelling (SFCM) for individuals and organizations interested in learning and advocating for the use of SFCM in economic analysis. SFC modelling is a method of economic modelling that places significant emphasis on ensuring the consistency between the stocks and flows of economic variables such as money and goods. This approach enables a more accurate understanding and prediction of economic behavior, making it a valuable tool for economists and analysts alike.

SFC modelling training could include organizing workshops and seminars on the topic, as well as providing access to educational materials such as tutorials, articles, and software tools. The SFCM group of experts would serve as a community for individuals to share their knowledge and experience with SFC modelling, and to collaborate on research projects.


SFC Experts

Dr Adam Kaczynski, CSIRO

Dr. Adam Kaczynski graduated in 1991 from Gdansk University of Technology (Poland) with a degree in Electronic Engineering. Since then, he has mainly worked as an embedded software engineer. Currently, Adam is employed at CSIRO, Space and Astronomy, where he works on system control projects related to Australian radio telescopes.Following the Global Financial Crisis (GFC), Adam developed an interest in heterodox economics, particularly in building dynamic macroeconomic models using empirical scientific methodology. He is also passionate about the Labour Theory of Value and the critique of neoclassical economics. Adam completed his PhD in 2021 under the supervision of Dr. James Juniper and has submitted several papers to various heterodox conferences, mainly in collaboration with Dr. Juniper

Dr James Juniper, University of Newcastle, CITBA Research Fellow

Dr James Juniper is a lecturer in Economics with the Newcastle School of Business, and CITBA Research fellow. Before entering academic life in 1990, James worked as a policy practitioner and researcher in both the Commonwealth and State Public Services. He has also worked with both “blue-collar” and public sector unions. James has supervised three PhDs applying Stock-Flow-Consistent macroeconomic models, along with other PhDs on a diverse range of topics including sub-national development, land zoning in regional NSW, financial development, TQM and environmental management, the philosophy of A. N. Whitehead, water management in Jordan, the modelling of technology innovation systems, and the regulation and prudential control of Australian financial institutions.


A/Prof Taha Chaiechi, James Cook University

A/Prof Taha Chaiechi  is Academic Head of Economics and Marketing Disciplines in the College of Business, Law and Governance at James Cook University , where she also serves as Australia Director for the Centre for International Trade and Business in Asia (CITBA). Taha is an expert in the systematic modelling of dynamic relationships between economic, environmental, and social variables. She also has extensive knowledge of quantifying and economic valuation of environmental assets and services. Taha's research attitude is holistic and inspired by issues in climate change and natural disasters and their impacts on different economic sectors such as health, tourism, the environment, energy, and cities

To help you get started with SFC modelling, we offer the following free resources:

1- Everything You Always Wanted to Know About SFC Modelling

2- An Introduction to SFC Modelling

Jupyter Notebooks 1: Click HERE to access  
Jupyter Notebooks 2: Click HERE to access  
Jupyter Notebooks 3: Click HERE to access

coming soon

28-29 October 2022- Stock-Flow Consistent (SFC) International Workshop - Cairns, Australia

This workshop consisted of 3 parts in total and can be completed in two days.

  • History of Stock-Flow-Consistent Macroeconomic Modelling
  • The Balance Sheet Approach to Endogenous Money
  • Accounts for a simple (discrete-time) SFC Model

Click here to access the workshop homepage