During the unique Simulation Conference of the European Central Bank, in which young people from Greece and abroad take part, the participants take on the positions of central bankers and consultants, debate on issues regarding the economy of the European Union and of its member countries, and decide following rules of the European Central Bank.
Dedicated to its aspiration of promoting economic literacy and of related economic issues with interdisciplinarity, the team of #Get_Involved, is glad to announce the 5th Simulation Conference of the European Central Bank.
- The 5th ECB Simulation Conference by Get Involved will be held virtually taking into consideration the current health conditions due to the SARS-Cov-2 pandemic. However, the possibility of a hybrid or entirely physical conference will be examined in the period preceding the conference.
- The participants will have the chance to take part in a Conference that is supported by the Bank of Greece and was included in 2020 in the event calendar of the European Central Bank under the ECB Listens program aimed at its first Strategy Review after 18 years. For more, please click here.
- The findings of the 4th ECB Simulation Conference are posted on the Bank of Greece official website. To read them please click here.
- Each university student has the chance to participate in a unique project, which combines experiential learning, interdisciplinarity and interaction among the participants so that they can shape the final findings.
- To ensure a high level of Conference Experience, the team of Get Involved has developed the digital platform Polymnia, in which the overall conference procedures will be held. Polymnia has been constructed in a way to maximize the digital footprint of experiential learning and to guarantee a high frequency interaction among the participants.
- The reason for our using Polymnia – versus other platforms – is the maximization of the Conference Experience, enabling the user to personalize his/her profile, to connect it with his/her other social media, to upload files and to have access to the Study Guides prepared by the organizing team. Moreover, the ability to communicate among all users is ensured, video calls as well as sharing documents in real time are integrated.
- The Training Day will be held on the first day, Friday 10th December 2021. In the course of the Training Day, the participants will have the chance to attend a series of Keynote Speeches and discussions of eminent personalities of the Academia, the Economic Institutions, the Banks and the Real Economy, as well as the Advisory Board of Get Involved. More specifically, they will have the chance to attend speeches and to pose questions to the Keynote Speakers, who will cover a broad range of contemporary issues of the European Economy and the importance of Central Authorities for a common economy. The speakers, as well as the schedule of the Training Day, will be announced in the following weeks.
- The overall Conference procedures will be held via the Polymnia platform. It is noted that in accordance with the applicable health protocols in the period before the conference, the possibility of a hybrid or entirely physical conference will be examined.
- To view moments from the Training Day of the 3rd ECB Simulation Conference, please click here.
- On the remaining days of the conference, 11th to 13th December, the main activities of the conference will be held.
- The deadline to submit applicationS is the 21st of October.
With the exception of the Training Day, the participants will be asked to work in two semi-autonomous committees.
Committee of Economic Affairs: The Committee of Economic Affairs is responsible for examining the issues in the formulation and conduct of Monetary policies. Also, issues about the toolkit of the European Central Bank as well as the European financial system will be reviewed.
Statutory Review Committee: The Statutory Review Committee is responsible for issues concerning the aims that the European Central Bank wants to achieve with its policymaking, as well as issues concerning the status of its internal operation. At the same time, the role of the ECB in terms of institutional dialogue with the EU institutions, its policies on Non-Performing Loans, and its imprint as a Central Regulator in digital banking will be examined.
The goal of the committees is to familiarize the participants with the operation of the ECB through experiential learning. The big difference between ECB and the other international organizations, as far as the scope of the issues handled, the way the monetary system is managed, and the decisions made, is that it gives the participants new insights regarding the simulations and the ECB itself.
Additions to the 5th Simulation Conference of the European Central Bank for students
- The procedure of Executive Talks is added to the conference. Besides the Training Day, in which Keynote speeches will be made by representatives of institutions, the financial sector, and academics, the Executive Talks will be held at the beginning of the remaining days of the Conference. In the Executive Talks, representatives of the market who are leaders in the discussed issues such as the management of Non-Performing Loans will present their views. These talks will enhance the knowledge of the participants as they will give them a better idea of the topics discussed within the framework of the market.
- The participants will also get the chance to get a certificate of Knowledge as well, instead of just a simple certificate of participation, with the help of e-badge technology. At the end of the conference, the participants will answer a number of questions based on what was studied and discussed during the conference and they will get awarded a certificate based on their performance. If someone is not interested in getting a Certificate of Knowledge, he/she will receive just a Certificate of Participation. Get Involved decided to give such certificates not only to ensure the more equitable distribution of the Conference awards – scholarships (in the last two Conferences they totaled 7,100 Euros, 3,600 Euros in 2021 & 3,500 Euros in 2020) but to also connect the participants’ digital CV with LinkedIn.
- Pre – Conference preparation: The pre-conference preparation is intensified within the framework of the digital transformation. More individual and group sessions for the preparation of the participants will be held. Also, the participants will have the chance to submit a position paper prior to the conference where they will disclose their views on the issues of the Agenda.
- The discussion during the Conference will be accelerated by the preparation of these position papers, and the Scientific Team will be able to assist the participants if there are any queries. The pre-conference procedure aims to enhance the participants’ understanding of the issues to be discussed in the agenda of the Conference
The aim of the Conference: Lifelong Learning and Interdisciplinary Approach
The main aim of this initiative of Get Involved as stated above is to promote Lifelong Learning and an Interdisciplinary Approach to it, the understanding of the importance of the Central Bank in the contemporary economic policy inside the Euro Area. The department of Banking and Finance Management of the University of Piraeus, the Bank of Greece, and other academic institutions support Get Involved in this initiative.
- The investment in the understanding of contemporary economic terms such as the Transmission Mechanism of the Monetary Policy for students regardless of if they major in Economics and
- The understanding of the importance of the Monetary Policy in the context of the pandemic as well as the challenges on policymaking during and after the SARS-Cov-2 pandemic, the incorporation of ESG parameters in the decision-making procedures of Central Banks, and the challenges of introducing, or not, of a Central Bank Digital Currency (CBDC), are the educational goals of the 5th ECB Simulation Conference.
Useful Information for the Participants
- Great importance is given to the pre-conference procedures during which the chairmen/chairwomen of the committees and the scientific partners of Get Involved will take on the analysis and explanation of the Conference Agenda and of the Study Guides. During the pre-conference period as well as during the Conference, constant contact with the scientific committee of the conference will be possible in order to ask questions regarding the study of the topics by groups. Finally, the submission of position papers by the participants will be encouraged and appreciated.
- The Double Delegation model is adopted for every country. The participants will know, at the beginning of the pre-conference period, the members of the common delegation. The aim of the Double Delegation model is to have in each committee, in the delegation of the country, participants from different disciplines (for example, Economists in conjunction with students of Law schools). The benefits from this procedure are numerous. At the intra-conference level, a more spherical understanding of the issues will be achieved and the quality of the debate will be enhanced. Furthermore, teamwork and the creation of a wider network of people are also enhanced.
- Specialized Study Guides for each country as well as a Study Guide focusing on the analysis of the issues included in the Conference Agenda will be given to facilitate the participants in their study. The Study Guides have been approved and supervised by the members of the Advisory Board and the scientific partners who honour the procedures of this conference with their participation.
In order to maintain the simulation as close as possible to the high standards of the European Central Bank, the international standards of professional attire must be observed
- For men, the suit is the most suitable choice. Ties are not mandatory.
- For women, the choice of a suit or a dress is recommended. Blouses and pullovers are acceptable.
T-shirts, shorts, jeans, and sneakers are not allowed.
The Dress Code applies only to the premises and operations of the Conference. In the social events of the Conference, there is no dress code.