Czech Republic, Svaty Jan pod Skalou (near Prague)

Economics: Why do we need money and finance, anyway? (Under 18s)

when 7 August 2016 - 14 August 2016
language English
duration 1 week
fee EUR 230

**Under 18s**

Banks, and the financial sector as a whole, are often seen in a rather negative light. And not without grounds: Banks were at the epicentre of the last financial crisis. But to what degree is this reputation justified? What exactly happened before, during and after the crisis? And what do banks need to look like to continue their productive contribution in a system that is not akin to “Heads: Bank wins. Tails: Taxpayer loses”?

Whereas the business model of banks, not to even speak of some of the more complex financial instruments banks use, is something most people are quick to admit not to understand, money is something we use every day but hardly ever think about. How does money actually work? And how do central banks (i.e. those that “print” the money) factor into this? To what degree do they shape the financial system, the price tag attached to daily necessities and the way banks behave? This course aims at identifying the intricate links between money, banks, central banks and the so-called “real economy” (think unemployment, investment projects or how much you can afford to shop). Throughout, it takes a critical look at what the last financial crisis taught us about assumptions usually made in Economics and how the financial crisis and its aftermath might have called some of them into question.

Course leader

Judith Weiss

Target group

High school students

Course aim

Understand what the last financial crisis taught us about assumptions usually made in Economics and how the financial crisis and its aftermath might have called some of them into question.

Fee info

EUR 230: The participation fee includes academic and extracurricular activities, accommodation and full board.

Scholarships

We understand that people in different countries, and different people within each country, have very different ability to pay the participation fee. We, therefore, expect to offer partial scholarships to up to 80% of participants. You can apply for the s