The winning team has been awarded a trip to the European Central Bank in Frankfurt. The team members were Elin Boman, Alex Johansson, Melker Lundberg and Emil Rönnberg and the team was tutored by its teacher member Anders Casén. The two other teams that qualified for the finals were awarded book gift vouchers.
“The Generation €uro competition provides young people with an opportunity to have a peep at how decisions on the economy are taken in practice. The skills learned in the competition will also encourage the young competitors to follow economic issues later in their lives,” said Bank of Finland Deputy Governor Olli Rehn at the award ceremony.
The Generation €uro Students’ Award tests students’ knowledge of monetary policy and in many ways resembles the day-to-day work of a central bank economist, as it involves comprehensive monitoring and analysis of economic and monetary developments and challenging one’s own views and those of colleagues.
The annual competition is organised in 11 euro area countries, and is open to students aged 16–19. In the competitions, four-strong teams are tasked with submitting a proposal for an interest-rate decision of the Governing Council of the ECB and other possible monetary policy actions.
The Bank of Finland organises the competition in Finland with the aim of promoting young people’s economic competence. The competition provides young people with an opportunity to learn how to assess the impact of monetary policy on the euro area economy and about central banking in general.
The first round of the competition consisted of a web quiz, in which 20 teams from 10 schools in Finland participated. The second round took the form of a trial analysis. The three best teams qualified for the finals.