The complexity of every economy requires a clear understanding of systematic and scientific methods to analyse it. One of the scientific ways is building models to represent the structure of the economy. A model can be configured as an abstraction from real life experience to explain given circumstances. Taking a queue from the industrialized economies in the face of Vision 20:2020, it can be noted that policy modelling, within the context of econometrics, has been a major panacea for the industrial economies’ development. The need to develop econometrics skills for planners/ managers, and macro econometric and input-output modelling capacity for policy analysis have informed the running of this macro econometric workshop for policy analysis and simulation. The workshop will strengthen and harness the gains of knowledge acquisition for more effective development policy management in Nigeria and other economies of the world.