Get Informed
ECB Simulations Conference
1. Who Can Participate in the ECB Simulation Conference?
The ECB Simulation Conference is open to all university students—regardless of their academic level— as well as recent graduates! Even if you do not have a background in Economics, Law, or International & European Studies, do not hesitate to apply. Our comprehensive pre-conference training and preparation guide will equip you with all the essential knowledge you need to fully engage in the discussions.
2. Does the Conference grant a Certification of Attendance?
Participants who attend at least 75% of the Conference processes receive a Certificate of Attendance. This certificate confirms their successful involvement in the main activities of the Conference, such as the Training Day and committee meetings.
3. What is the Certification of Knowledge?
The Certification of Knowledge confirms that participants have gained specialized knowledge during the ECB Simulation Conference for university students. Obtaining it is not mandatory and it is available in a format that can be added to social platforms like LinkedIn.
4. Can university students who do not study economics participate?
The ECB Simulation Conference aims to approach contemporary economic challenges from a multidisciplinary perspective. All the preparation materials and pre-conference virtual meetings help bridge any knowledge gaps for students whose main field of study is not economics. We clearly encourage everyone to take part!
5. Is there any preparatory material provided for participants?
Every participant receives detailed preparatory material, including a study guide and the Economic Definition Index of Get Involved. These materials assist participants to better understand the conference topics regardless of their academic background.
6. What is Double Delegation?
Double Delegation means that each country is represented in every committee by two participants. This enhances interdisciplinarity and cooperation, as participants with different academic backgrounds collaborate and jointly represent the interests of their assigned country.
7. What are the Conference topics?
Each year, the conference topics are tailored to the latest economic developments within the Eurozone. The Conference aim is to highlight and educate participants on contemporary and critical issues facing the ECB and the Eurozone economy. Past topics have included the transmission mechanism of monetary policy, ESG issues in the financial sector, and the digital euro, among others.
8. What is Training Day?
Training Day is the first day of the main Conference activities and has a different structured from the other days. It takes the form of a seminar, featuring distinguished speakers from institutions, the market, and academia. These speakers share their experiences and knowledge about the conference topics with the participants.
9. What are the benefits of participating in the Conference?
The aim of Get Involved is to make the Conference an enjoyable and constructive experience for participants, offering them multiple benefits. Attendees gain specialized knowledge on critical economic issues of the Eurozone, while also having the opportunity to network with distinguished academics, market professionals, institutional representatives, and other active students who share common interests.
10. Are all applications approved?
The structure of the Conference aims to ensure the best possible experience for participants, for this it accepts a specific number of attendees. Specifically, each Conference can accommodate 108 delegates and up to 20 staff members. Therefore, applications are evaluated based on CV and motivational letter, with particular emphasis on the reasons for attending the Conference.
It is important to emphasize that we encourage everyone to apply, as the only certain way to not be accepted is to not try at all.
11. Are there age restrictions for participation?
There are no age restrictions for participating in the Conference. The European Central Bank Simulation Conference is open to students of all levels and recent graduates. As long as these criteria are met, there are no other limitations for interested participants.
The ECB Simulation Conference for university students operates based on the responsibilities of the Governing and General Council of the ECB. During the conference, participants simulate the structure of the General Council and the topics decided by the Governing Council. For a better conference experience, the delegates are divided into two committees. These committees work in parallel, discussing the same topics based on the same Agenda, differing only in the composition of the delegates. The organizing team of the Conference forms the committees to ensure a interdisciplinary and high-quality approach to the topics discussed.
Each committee includes representatives from all 27 European Union member states. Each country is represented by a Double Delegation, meaning it has two delegates. The delegates equally share the role of Central Banker, and the ideal goal of the organizing team is to have individuals from different academic fields in each country. The two co-representatives of each country are tasked with jointly forming the country’s stance, actively enhancing their soft skills.
For the purposes of the committees, the organizing team of the Conference is represented by the Procedure Heads and the Executive Committee. Briefly, the Procedure Heads is responsible for ensuring that participants comply with the Rules of Procedure, while the Executive Committee is in charge of ensuring the scientific accuracy of the dialogue conducted in each committee.
To ensure better preparation for the participants, Get Involved continuously updates and enhances the conference preparation materials. These materials comprise various documents designed to educate each participant, regardless of their academic background. In addition to these resources, participants can communicate with the Get Involved team throughout both the preparation and conference periods. The primary preparation materials provided are:
Study Guide: The key preparation document of the Conference which presents, develops, and explains the topics examined in each Conference. Its objective is to analyze these topics through an interdisciplinary approach, thus facilitating discussions among participants during the Conference. It is developed by the Scientific Team of Get Involved.
Agenda: It serves as the foundation for the discussions and debates within the Conference committees. The Agenda includes the proposed Articles that guide the Conference discussions. Participants are responsible for modifying and improving these Articles, as well as voting on them. These Articles are proposals from the Executive Board of the Conference on the issues concerning the Euro Area but remain open to refinement by the participants. To ensure a better understanding of the Agenda, dedicated preparation calls are held during the preparation period.
Rules of Procedure: This document outlines all the rules and procedures governing the committees’ modus operandi. The Rules of Procedure detail the responsibilities and rights of both participants and the organizing team. Responsible for the smooth conduct of the committees’ procedures are each committee’s Procedure Heads.
Economic Definitions Index: Developed by the Get Involved scientific team, this index aims to clarify a wide range of economic terms and provide relevant information. The current edition features 138 economic terms categorized into nine thematic sections, including General Economic Terms, Fiscal Policy, Monetary Policy and Economic framework of the EU and the ECB. The goal of this index is to serve as a reliable information source, enabling readers to easily understand the included terms.
The European Central Bank Simulation Conference was created by university students for university students. Get Involved prioritizes continuously improving the participants experience. The objectives of the Conference are as follows:
I. Promotion of Financial Literacy and Understanding of Eurozone Challenges
Educational materials, pre-conference calls, participation of distinguished speakers on Training Day, and interactive three-day sessions create a unique learning experience.
II. Inclusion of Students Regardless of Academic Background
To ensure equal participation, pre-conference support is provided by the scientific team of Get Involved. The Study Guide, Economic Definition Index, pre-conference calls, and continuous communication with the organizing team practically assist participants, regardless of their academic background.
III. Dissemination of Reliable and Well-Documented Perspectives on Critical Economic Issues
The Conference involves leading institutional bodies and representatives of the financial system, such as the Bank of Greece, the Hellenic Bank Association, Alpha Bank, and the National Bank of Greece, enhancing the credibility of the discussions.
IV. Networking on Multiple Levels
Participants come from various academic backgrounds and regions of Greece but share common interests, creating a dynamic network (vertical networking). Additionally, the Conference connects delegates with distinguished representatives of institutions, corporations, and academia, through speeches and workshops (horizontal networking).
Get Involved designs all its activities with these goals in mind, ensuring an experiential and participatory learning process with a substantial cognitive impact.
The Get Involved team has established specific Rules of Procedure for the ECB Simulation Conference committees, ensuring its smooth execution and adherence to procedures.
Below is a summary of the main points of the Rules, divided into four sections: I. Conference Structure, II. Committee Structure, III. Meeting Procedures, and IV. Delegate Rights.
I. Conference Structure
The Roundtable Discussion is conducted by two parallel committees, examining shared topics. Every European Union member state is represented in these committees.
Each state is represented via Double Delegation, meaning two delegates act together as the Central Banker. These co-representatives are equal and not separated during the conference.
The primary objective of the conference is to finalise the Agenda by considering proposals, amendments, and additions. Each member state aims to promote the most favorable policies by collaborating and consulting with other committee members.
II. Committee Structure
Each committee consists of three roles: the Procedure Heads, the Executive Committee, and the body of Representatives. Each role has strict operational frameworks and specific purposes. Specifically:
The Procedure Heads are responsible for the smooth conduct of the session. Their main duties include granting the floor to representatives, determining the start and end of formal and informal discussion, and managing their duration.
The Executive Committee ensures the scientific validity of the discussion. Their responsibilities include presenting Agenda articles, clarifying issues during discussions, and rejecting proposals, amendments, or additions that do not meet scientific criteria.
The body of Representatives is responsible for finalizing the Agenda. Their main duties include participating in votes, contributing to committee procedures, and submitting proposals for Agenda articles.
III. Meeting Procedures
Key conference procedures delegates must be aware of include:
Quorum: For any session to start, at least 2/3 of the total participating countries must be present. A country is considered present if at least one representative is in the conference.
Tour De Table: At the beginning of the discussion of each Agenda article, the Procedures Heads give each member state a specific time (usually 2 minutes) to present their positions to the committee. Participation in the Tour De Table is mandatory and contributes to a more organized and productive discussion.
Formal Dialogue: Following the Tour De Table, the Formal Dialogue among committee representatives begins. The Procedures Heads give a predetermined number of representatives specific time to speak and propose additions to the Agenda articles. Voting does not take place during the Formal Dialogue. Its sole purpose is exchanging views to shape the final content of the articles.
Informal Dialogue: After the end of a Formal Dialogue, the Procedure Heads may initiate an Informal Dialogue for a specified duration if deemed necessary. The purpose of the Informal Dialogue is negotiation among representatives on the paragraphs of the Agenda and preparing amendments. Only during the Informal Dialogue can the necessary signatures be gathered to submit proposals to the Presidency.
Agenda: The primary goal of each committee is to work on the Agenda. During Informal Dialogue, each member state can propose amendments or additions to the articles. Proposals must be submitted before the end of Informal Dialogue and be accompanied by signatures from at least 1/3 of the committee member states. These signatures do not commit to a vote but ensure that the proposed change deserves discussion and voting.
Although a country is not obliged to vote in favor of an amendment it supports in the submission process, it is considered inconsistent to propose a change and then vote against it.
Voting Procedure: For the Voting Procedure to start, 2/3 of the committee member states must be present, and to approve a proposal/amendment/addition, 50%+1 votes of the states participating in the vote are needed. Voting participation is mandatory, and state representatives can vote either in favor or against the article.
IV. Delegate Rights
The participants have to follow the Conference’s Rules of Procedure, but they also have some Rights that ensure an efficient and pleasant conference experience. Their main Rights are:
Explanation Right: Can be used when there is limited understanding of a part of the Rules of Procedure or when a specific rule or procedure is not comprehended. The Procedure Heads are responsible for resolving this type of Rights.
Right to Reply on Personal: Can be used when a statement by another representative that insults and abuses the participant or the nation she/he represents is made. It is not allowed to interrupt the statement of another participant to use this Right. Only if the Procedure Heads approve this Right can be exercised.
Right to object to procedure error by the Procedure Heads: During the Formal Dialogue, the representatives can object to a procedural error made by the Procedure Heads to express their dissatisfaction with a decision or action of the Procedure Heads (for example, for incorrect recognition of a nation or in the event that another representative exceeds uninterrupted her/his time limit).
During the ECB Simulation Conference, a strict Dress Code is followed, and international standard business attire should be used. The participants dressing should keep up with the serious effort they are making, and also follow the high-ranking guests participating in the Conference. Specifically:
- For men, it is Business Casual is recommended, with the suit being the best option,
- For women, suit and Business Casual attire are also recommended; other options that follow this logic are of course, acceptable (for both men and women).