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Upper secondary school students will once again compete on their knowledge of economic activity and monetary policy when the international Generation €uro Students’ Award competition starts in Finland on 17 October 2022. The goal of the economics competition is to help students understand monetary policy and analyse its impact on the economy. Teachers play a key role in promoting financial literacy.

Teams of four students and a teacher compete in the competition, which tests students’ knowledge of monetary policy. The competition has three rounds. In the first round, the teams answer multiple-choice quiz questions. The task of the teams that make it to the completely renewed second round is to prepare a short video about some monetary policy decision of the European Central Bank. The target group for the video is 15–19 year-old young people, and the taking the target group into account is one of the task’s evaluation criteria.

The competition is held in a number of euro area countries. In Finland, it is organised by the Bank of Finland. Teams can participate in this year’s competition from 17 October to 25 November 2022. The competition culminates in spring 2023 with the national final competition and an international awards ceremony hosted by the European Central Bank.

Young people are the financial literacy talent of the future

The economic operating environment is constantly changing and the need to improve financial literacy has been observed both in Finland and abroad. The Generation €uro Students’ Award competition provides upper secondary school students with a unique opportunity to acquaint themselves with monetary policy in an enjoyable way. Educational institutions and teachers play a key role in promoting young people’s financial literacy, and the competition provides teachers with current information and an inspiring learning environment to support their teaching. Through the competition, the students are exposed to the latest economic changes, such as how the European Central Bank is operating in the current changing economic environment.

“The Bank of Finland wants to support and improve citizens’ and particularly young people’s knowledge of monetary policy and the Eurosystem. Knowing the opportunities and risks of the financial operating environment helps one make small and big decisions about one’s own finances. We know, based on research, that young Finns are interested in the economy. Furthermore, young people in Finland learn to use various means of payment independently at an early age, which improves their financial literacy,” says Anu Raijas, the Bank of Finland’s Financial Literacy Adviser.

More about the competition and schedule

Further information about the competition and schedule can be found on the Bank of Finland’s Generation €uro competition website: https://www.suomenpankki.fi/fi/opi-taloudesta/generation-euro/ (in Finnish)

Also take a look at the ECB’s Generation €uro website: https://www.generationeuro.eu/en-lu/home

Financial information for teachers

Would you like to receive teacher-oriented and up-to-date information on the promotion of financial literacy? Subscribe to the Bank of Finland’s Financial Information for Teachers newsletter here (in Finnish)

For further information, please contact Hanna Niemi, Communications Specialist, Bank of Finland hanna.niemi@bof.fi.

The news has been updated to the end date of the first round on 25 November 2022.