LODI Bassi students first in Italy at the European Central Bank competition

A group of Bassi students has won an important European competition organized by the Bank of Italy.

Pablo Andrade, Alberto Khafizov, Matteo Maldis and Andrea Meraldi of 4I SIA, prepared by the economics teacher Professor Fabio Banderali, won the “Generation €uro” competition announced by the European Central Bank.

Professor Banderali and his students are over the moon. The final of the Italian edition of the monetary policy competition “Generation €uro students award” 2023/2024 took place on 13 May in Rome.

Boys and girls from the last two years of high school participated in the competition.

The objective is to deepen knowledge of the institutional functions of the Bank of Italy and to promote economic and financial policy.

This year, 57 teams took on the initial selection, answering questions on monetary policy, the euro and the European system of central banks.

The competition, replicated in the same way in all countries of the European Monetary Union, is divided into three phases.

«The first phase – explains Professor Banderali – took place between October and December. The kids formed a team to participate in the competition. They studied various materials on the European Union and common monetary policy. Once this phase was completed they had to take an online quiz. The teams with the highest points advanced to the second phase which took place between January and March.”

«The teams had to draft a text that simulated a monetary policy decision of the European Central Bank starting from the current macroeconomic and geopolitical framework on the basis of the periodic monetary policy decision».

«The students analyzed the current macroeconomic and geopolitical framework starting from reports prepared by the study center of the ECB and the Bank of Italy, in particular they focused on the trend of the inflation rate and the labor market (unemployment rate and productivity) . Starting from these data they developed the monetary policy decision in which they simulated keeping the reference rates unchanged from a disinflationary perspective; to carry out operations on the open market or purchase securities to inject liquidity into the system to support consumption and investments; support refinancing operations for ordinary banks that undertake to grant loans to businesses. With the decisions taken we intended to guarantee price stability (inflation rate of 2%), promote sustainable economic growth and achieve environmental sustainability objectives by granting subsidized financing to companies that respect socio-environmental commitments”.

A jury of experts selected the three best monetary policy decisions that made it to the final stage.

The third phase took place on May 13th. The three teams that wrote the best monetary policy decisions were invited to Palazzo Koch, headquarters of the Bank of Italy, to exhibit their simulation of a monetary policy decision and to answer questions from a jury of experts.

«The questions posed to our students – notes Banderali – concerned a comparison between the European and American macroeconomic framework, the pandemic securities purchase program, the link between environmental aspects and economic-financial variables. The trip was financed entirely by the Bank of Italy and the award ceremony took place at the hands of Magda Bianco, Director of the financial education department of the Bank of Italy.”

«Two other schools participated in the final: one from Legnago (Verona) and one from Torre Annunziata (Naples). The day ended with a guided tour of the historic headquarters of the Bank of Italy in via Nazionale”.


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