"Sharing central bank knowledge" - the Deutsche Bundesbank's economic education activities

 
CONTINUE READING
"Sharing central bank knowledge" - the Deutsche Bundesbank's economic education activities
Deutsche Bundesbank
                                                                                            Annual Report 2016

                                                                                                           33

  “Sharing central bank knowledge” –
  the Deutsche Bundesbank’s economic
  education activities

The Deutsche Bundesbank reaches out to the general public through a diverse range of printed
materials, online resources and public events, providing information about its legal mandate,
the tools it uses and the extent to which it achieves its objectives. This type of information has
long been sought after, particularly by schools, especially since monetary policy is on the upper
secondary school curriculum in several of Germany’s federal states. This is why, a number of
years ago, the Bundesbank developed a range of educational resources and events tailored
primarily to the needs of teachers and schoolchildren.

This economic education programme provides a basic grounding in the areas of money, mon-
etary stability, central banks and the financial system. It aims to enable the general public to
gain a better understanding of the importance of price stability as well as the tasks of the
Bundesbank and the Eurosystem. The focus is on “central bank knowledge”, which is essentially
derived from the Bundesbank’s core areas of responsibility: monetary policy, the financial and
monetary system, banking supervision, cash management and cashless payments.

The Bundesbank has recently redesigned its economic education programme, improving its
substance and significantly expanding its volume. As part of this overhaul, the Bundesbank’s
Money Museum was reopened to the public in December 2016 following a major revamp of
its layout and contents.
"Sharing central bank knowledge" - the Deutsche Bundesbank's economic education activities
Deutsche Bundesbank
   Annual Report 2016

   34

                       Aims and contents of eco-                                    public has an idea of the central bank’s tasks,
                                                                                    goals and tools, as well as the extent to which
                       nomic education activities
                                                                                    it achieves its objectives – and, not least, if it
                                                                                    understands which economic policy objectives
Central bank’s       The Eurosystem central banks have a legal                      fall outside the central bank’s remit.
stability-­
oriented policy
                     mandate to maintain price stability in the euro
also needs           area over the medium term. The Bundesbank’s                    The Bundesbank’s economic education activ-
public support if
long-term price
                     economic education programme is designed to                    ities therefore use a variety of approaches to
stability is to be   help fulfil this mandate. That is because one of               give its different target groups a basic ground-
maintained
                     the most important factors in preserving long-                 ing in the topics of money, monetary stability,
                     term price stability is knowing that the general               central banking and the financial system. The
                     public understands and supports the stability                  desired outcome is a deeper public under-
                     orientation of monetary policy and trusts the                  standing of the importance of monetary stabil-
                     central bank’s work. Building and maintaining                  ity as well as the tasks of the Bundesbank and
                     this trust can be achieved more readily if the                 the Eurosystem. At the same time, the Bun-

                      Areas of economic education

                                                                     Economic education
                                             A combination of awareness, knowledge, skill and attitude necessary
                                 to manage everyday situations in which economics plays a role and to engage competently with
                                               economic issues at a private, business, national and global level.
                                                            Desired outcome: economically aware citizens

                                 The Bundesbank’s economic
                                     education programme                                                    Financial literacy
                                Sharing “central bank knowledge”                                                Private money
                                and raising awareness of central                                           matters/personal finances
                                           bank tasks

                                    Entrepreneurship                                                           Work/career
                                       education
                                   Entrepreneurial knowledge                                                    Labour rights/
                                           and skills                                                          career guidance

                                   Business/commerce
                                                                                                               Other areas
                                      Business economics

                      Deutsche Bundesbank
"Sharing central bank knowledge" - the Deutsche Bundesbank's economic education activities
Deutsche Bundesbank
                                                                                                                   Annual Report 2016

                                                                                                                                         35

                  desbank’s outreach activities help it fulfil the    en their role as multipliers who pass on the
                  accountability and reporting obligations it has     central bank knowledge they acquire to large
                  towards the general public as an independent        numbers of schoolchildren over the course of
                  central bank. Economic education differs from       their careers. Working together with teachers
                  the Bundesbank’s other communication activ-         therefore allows the Bundesbank to maximise
                  ities in two respects, one being that it largely    the benefit of its educational resources, which
                  involves conveying basic knowledge, the other       can be best achieved by focusing on teachers
                  that it is tailored to specific target groups.      covering monetary policy topics. Besides reach-
                                                                      ing out to incumbent school teaching staff,
“Central bank     The focus of the Bundesbank’s economic ed-          the Bundesbank’s programme is also aimed at
knowledge”
is one area
                  ucation activities is on sharing “central bank      trainee teachers who are either still at university
of economic       knowledge” – that is to say, the subject matter     or in practical training.
education
                  is mainly geared to the Bank’s core areas of
                  responsibility, which are monetary policy, the      Depending on which federal state they are in,
                  financial and monetary system, banking super-       German schools treat the subjects of econom-
                  vision, the provision of cash, and cashless pay-    ics, finance and currencies with different levels
                  ments. By sharing central bank knowledge, the       of importance and cover them in different are-
                  Bundesbank covers one specific area of eco-         as of the curriculum. As a result, monetary pol-
                  nomic education (see the chart on page 34).         icy is not part of teacher training courses every-
                                                                      where in Germany, or makes up just a fraction
                  The Bundesbank’s economic education pro-            of the syllabus. Against this backdrop, the Bun-
                  gramme does not directly cover financial liter-     desbank’s economic education programme al-
                  acy, which deals with private money matters,        lows teachers to find out for themselves about
                  or the topics of investor and consumer protec-      central banking or brush up on their existing
                  tion. However, it does explain issues and instru-   knowledge.
                  ments which have a bearing on these areas (for
                  example, What is a share? What is a loan?) if       Young people are the second major target              Another im-
                                                                                                                            portant target
                  the context requires.                               group for the Bundesbank’s economic educa-            group: the
                                                                      tion activities. The focus here is on students in     younger
                                                                                                                            generation
                                                                      upper secondary education, given that central
                    Target groups of the Bundes-                      banking-related topics (especially monetary
                    bank’s economic education                         policy) are mostly taught to these older school-
                                                                      children at both general secondary schools
Target groups     The Bundesbank’s economic education pro-            and vocational schools. Learning resources are
of the
Bundesbank’s
                  gramme consists of lectures and educational         also available for primary and lower secondary
economic          materials, the latter available in printed format   school pupils, although these levels have not
education:
teachers,
                  or online for download from the Bundesbank’s        been a focus of the Bank’s lectures in the past.
schoolchildren    website. In target group terms, the programme
and students
                  mainly reaches out to teachers, trainee teach-      Another group at which the Bundesbank’s
                  ers, schoolchildren and students of econom-         range of economic education services is aimed
                  ics. That said, the learning resources, certain     are students whose courses cover aspects of
                  lectures, and the Money Museum adjacent to          monetary policy. Both students of econom-
                  the Bundesbank’s Central Office in Frankfurt        ics-related subjects, and also those studying
                  am Main are available for use by the general        economics as a non-core subject, such as law
                  public, too.                                        students, normally need extra information and
                                                                      also use the educational resources provided by
Main target       Teachers are the main target group of the Bun-      the Bundesbank.
group: teachers
                  desbank’s economic education activities, giv-
Deutsche Bundesbank
   Annual Report 2016

   36

                      Economic education in an international context
                      and in the field of research
                      Much like the Bundesbank, many other central        Financial Education (INFE) under the aegis of
                      banks offer educational materials that are spe-     the Organisation for Economic Co-operation
                      cifically designed for use in a school classroom    and Development (OECD). This network was es-
                      setting. Such services are provided by virtually    tablished in 2008 and currently counts just un-
                      all Eurosystem central banks, including the Euro-   der 100 public institutions from more than 70
                      pean Central Bank, as well as by the US Federal     countries as full members. The INFE draws up
                      Reserve and the Swiss National Bank, for exam-      international recommendations and guidelines
                      ple. The available materials range from comics to   on financial education. Furthermore, the INFE
                      textbooks with worksheets, and include online       coordinates international comparative studies to
                      games along with educational films accessible       determine, for example, the level of financial lit-
                      via the internet.                                   eracy in various countries.

                      While some other central banks are also active      Questions relating to general knowledge about
                      in the area of financial literacy, the Bundesbank   financial matters are also of relevance to the
                      has focused its range of educational media on       field of economic research. This is the context in
                      conveying central bank knowledge. The Bundes-       which the Bundesbank’s Research Centre ded-
                      bank does, nonetheless, monitor developments        icates itself to this topic. The Bank’s Research
                      at both the national and international level in     Centre investigates, for example, what relation-
                      the field of general financial education. In this   ship exists between the level of financial literacy
                      connection, the Bundesbank – just like the Fed-     and households’ investment and savings deci-
                      eral Financial Supervisory Authority (BaFin) – is   sions.
                      a member of the International Network on

                     Economic education activities                        clude ministries of education and educational
                     performed by Central Office                          authorities, as well as teacher training institu-
                                                                          tions. Germany has a very heterogeneous ed-
                     and Regional Offices
                                                                          ucation system because education falls within
                                                                          the remit of each state government. The decen-
Central Office     Both the Bundesbank’s Central Office in Frank-         tralised approach which the Bundesbank takes
plans and
coordinates
                   furt am Main and the Regional Offices are re-          to its economic education activities means that
education          sponsible for the Bank’s economic education            it can make suitable allowances for the diverse
activities and
develops
                   activities. Central Office manages the strategic       idiosyncrasies of each federal state when plan-
resources          planning and coordination of education activi-         ning and holding lectures and teacher training
                   ties and is responsible for developing and up-         seminars. The Bank can therefore deliver events
                   dating educational resources and their quality         that are tailored to suit the particular needs in a
                   assurance. Its tasks also include designing the        specific region.
                   overarching public image for the Bundesbank’s
                   economic education activities and running the          To support these activities, the Bundesbank’s         Cooperation
                                                                                                                                with teacher
                   Money Museum, including the lecture service.           Central Office and Regional Offices work with a       training
                                                                          large number of universities in the field of teach-   institutions
Regional           The Bundesbank’s nine Regional Offices plan,           er training and cooperate with economic insti-
Offices organise
lectures and
                   design and run the lectures that form part of          tutions. It has arrangements with universities in
network in their   the Bank’s economic education services in their        Berlin, Bonn, Frankfurt, Kiel, Leipzig and Saar-
regions
                   local area. Their tasks notably include network-       brücken, for example. In addition, it maintains
                   ing with schools, higher education institutions        a wide range of contacts with teacher training
                   and educational establishments, which also in-         institutions in the respective federal states.
Deutsche Bundesbank
                                                                                                                                    Annual Report 2016

                                                                                                                                                         37

                     Cooperation with teacher training institutions (selection)

                     – Akademie für Lehrerfortbildung und Personalführung, Dillingen an der Donau

                     – Akademie für Politische Bildung, Tutzing

                     – Landesinstitut für Lehrerbildung und Schulentwicklung (LI Hamburg)

                     – Institut für Lehrerfort- und -weiterbildung in Mainz und in Saarbrücken

                     – Institut für Qualitätsentwicklung an Schulen Schleswig-Holstein (IQSH)

                     – Landesakademie für Fortbildung und Personalentwicklung an Schulen, Esslingen

                     – Landesinstitut für Schulqualität und Lehrerbildung Sachsen-Anhalt (LISA)

                     – Multiplikatorennetzwerk ökonomische Bildung in Hessen

                     – Sächsische Bildungsagentur (SBA)

                     – Thüringer Institut für Lehrerfortbildung, Lehrplanentwicklung und Medien (Thillm)

                     Deutsche Bundesbank

Networking          Another way in which the Bundesbank works                             they are also available to the general public.
with institutions
for economic
                    with other providers of education programmes                          The Bank’s flagship educational resource is
education and       is by networking with the relevant institu-                           Geld und Geldpolitik (Money and monetary
teachers
                    tions for economic education. These include                           policy), a book aimed at pupils in upper sec-
                    the Institute for Economic Education (IÖB)                            ondary education. This cornerstone of the Bun-
                    in Oldenburg, the Center for Economic Edu-                            desbank’s work in economic education can be
                    cation (ZÖBIS) in Siegen and the Association                          traced back to previous publications that have
                    for Economic Education in Secondary Schools                           been undergoing continual improvement since
                    (VÖBAS), to name just a few. The Bundesbank                           1970. The book teaches its readers about cash,
                    also boasts its very own stand at didacta, Ger-                       book money, banking and financial supervision,
                    many’s major annual education fair, to help                           European monetary policy and its institutions,
                    it stay in touch with teachers. What is more,                         and the international financial and monetary
                    the Bank showcases its economic education                             system. It explains the basics, provides histor-
                    programme at the Frankfurt and Leipzig Book                           ical context and discusses more recent devel-
                    Fairs, as well as at a variety of consumer fairs.                     opments in the wake of the financial and sov-
                    Teachers can also sign up for the Bank’s reg-                         ereign debt crisis. In addition, each chapter is
                    ular newsletter to find out about the latest                          accompanied by teaching materials that can
                    economic education activities and upcoming                            be used in the classroom in conjunction with
                    events.                                                               the book. An online version of this book, which
                                                                                          tackles topics in greater depth and contains
                                                                                          links to other websites for further reading, is
                      Wide range of educational                                           also available.
                      resources on offer
                                                                                          The resources available to lower secondary         Resources for
                                                                                                                                             lower secondary
“Geld und Geld-     All the Bundesbank’s educational resources,                           schoolchildren currently comprise modular          and primary
politik” – the
Bundesbank’s
                    be they in print or electronic format, are de-                        worksheets and factsheets on topics such as        schools
flagship            veloped and produced centrally. The offering                          money, monetary stability and monetary union,
economic
education
                    comprises resources that, for the most part,                          with even more resources scheduled for roll-
publication         are specifically designed for use in schools.                         out in 2017. As for primary school pupils, the
                    The entire repertoire of resources can be found
                    on the Bundesbank’s website,1 meaning that                            1 www.bundesbank.de/education
Deutsche Bundesbank
   Annual Report 2016

   38

                     Bank’s offering includes the publication Mein       on the topic of price stability, which comprises
                     Euro – Spiel- und Rechengeld (My euro – play        a film and supplementary teaching resources.
                     and counting money), which comes complete           The film follows two young people who find
                     with worksheets. There is also a reading book       themselves in situations where their lives are
                     entitled Dem Geld auf der Spur (All eyes on the     directly affected not only by money and price
                     money trail).                                       stability but also by monetary policy measures
                                                                         undertaken by the Eurosystem. As well as in-
Additional           In addition, the educational section of the         cluding both a German and English-language
resources
available on
                     Bundesbank’s website is home to a variety           version of the film, the media package includes
the website          of statistical charts containing economic and       a barrier-free version with an audio description
                     monetary policy data for use in the classroom.      track. Produced in 2015, the media package
                     These include, for instance, charts on con-         won the Comenius EduMedia Award, a pres-
                     sumer price inflation, exchange rate changes        tigious prize for digital educational media
                     and policy rate developments. The charts are        awarded by the Society for Pedagogy, Infor-
                     updated quarterly and can be downloaded di-         mation and Media (GPI).
                     rectly from the website, so teachers can readily
                     incorporate them into their own teaching ma-        Germany’s public broadcaster in the federal         “Kinderfunk-
                                                                                                                             kolleg Geld”
                     terials. Teachers are also welcome to down-         state of Hesse, Hessischer Rundfunk, also ranks     in cooperation
                     load infographics featured in the Geld und          among the Bundesbank’s cooperation part-            with Hessischer
                                                                                                                             Rundfunk
                     Geldpolitik book, which provide a condensed         ners. As part of the hr2 radio station’s “Kinder-
                     overview of various topics – the composition        funkkolleg”, a course of audio lectures for chil-
                     of the ECB Governing Council being just one         dren covering various topics, the two partners
                     example – and likewise put them straight to         developed the 25-part series “Kohle, Cash und
                     use in a classroom setting.                         Pinkepinke” (Dosh, cash and dough) on various
                                                                         money-related topics, which was broadcast
                     Yet another resource on the Bundesbank’s            once a fortnight starting in October 2015 and
                     website is its extensive glossary, which contains   was made starring children, for children. These
                     around 700 terms and acronyms from the field        episodes are also available for download as
                     of central banking. Many glossary entries in-       podcasts on a separate website, which, as well
                     clude links to related entries and in-depth Bun-    as boasting a wide range of teaching materi-
                     desbank articles.                                   als, is home to audio puzzles, reports on school
                                                                         media projects and glossary entries.2
Animated edu­        Another resource that the Bundesbank’s web-
cational films
                     site uses to explain complex and abstract top-
shine light on
complex topics       ics from the world of central banking as clearly      Lectures and seminars
                     as possible are animated educational films, for
                     which a unique graphic concept was devel-           Expanding on the Bundesbank’s diverse and           Lectures form
                                                                                                                             second pillar of
                     oped. Furthermore, the website features inter-      varied range of educational resources are its       Bundesbank’s
                     active applications such as an inflation/defla-     lectures and seminars, which form the second        economic
                                                                                                                             education
                     tion calculator and a quiz.                         pillar of its economic education programme.         programme
                                                                         These events are offered nationwide and indi-
Media package        Every now and then, the Bundesbank teams            vidually tailored to each target audience’s re-
on price stability
produced with
                     up with other public sector institutions to pro-    quirements, not least as a result of Germany’s
federal states’      duce educational resources. Working together        education system differing from state to state.
media institute
                     with the FWU Institut für Film und Bild in Wis-     The topics that these events should ideally cov-
                     senschaft und Unterricht, the joint educational     er and the audience’s educational background
                     media institute for Germany’s federal states,
                     the Bundesbank developed a media package            2 www.kinderfunkkolleg-geld.de
Deutsche Bundesbank
                                                                                         Annual Report 2016

                                                                                                        39

The new Money Museum: a unique venue which makes
learning an experience

The Bundesbank established the Money          After more than ten years of faithful ser-
Museum back in 1999 as a venue dedicat-       vice, elements of the exhibition were slow-
ed to economic education. Its presentation    ly beginning to show their age, not just in
of the topic of monetary policy and use       terms of their content and design, but also
of an attractive repertoire of multimedia     with regard to the technology. This prompt-
were so pioneering that it inspired a great   ed the Bundesbank‘s Executive Board to
many other central banks to emulate these     decide in 2011 that the Bank‘s Money
approaches. Since opening its doors, the      Museum needed to be overhauled. In De-
Bundesbank‘s Money Museum has wel-            cember 2013, following a public call for ten-
comed around 40,000 visitors a year, most     ders, the Executive Board awarded a con-
of whom are schoolchildren.                   tract to Stuttgart-based museum planning

 Photograph: Uwe Nölke
Deutsche Bundesbank
Annual Report 2016

40

               Photograph: Uwe Nölke

              specialists Milla & Partner to design and       world. Thematically, the exhibition does not
              build an exhibition space that best imple-      mirror the structure of the Bundesbank as
              mented the Money Museum approach de-            an institution but looks at money from the
              veloped by the Bank‘s Directorate General       vantage point of a central bank. It reflects
              Economic Education. After three years of        critically on a number of issues on the basis
              intensive cooperation between Bundesbank        of examples taken from history.
              experts and more than a dozen external
              firms, Bundesbank President Jens Weid-          The Money Museum lets the general public
              mann reopened the Money Museum, as              learn and experience for themselves what
              planned, on 16 December 2016.                   money and central banks stand for. Central
                                                              banking topics can be somewhat abstract,
              The Money Museum invites visitors to learn      so the exhibition makes them more ap-
              the basics about money, its history and the     proachable by embedding them in everyday
              tasks and responsibilities of central banks.    situations that visitors will probably encoun-
              Its overriding message is the importance of     ter in real life (for example, a bank branch,
              stable money for the economy and socie-         a supermarket or a bureau de change). In-
              ty at large. In its new and revamped form,      dividual display cases present topics specif-
              the exhibition presents the Bundesbank as a     ically for children. More than 40 interactive
              central bank that, within the context of the    media stations use playful approaches to
              Eurosystem, performs essential tasks to safe-   present exhibition content (including quiz-
              guard the functional viability of money – na-   zes, memory games and puzzles) and im-
              tionally, throughout Europe and around the      part more detailed knowledge.
Deutsche Bundesbank
                                                                                            Annual Report 2016

                                                                                                           41

 Photograph: Uwe Nölke

Most of the exhibition is accessible to per-     the entrance of each themed area is what
sons with disabilities. A conscious decision     is known as a “supersign”, which offers a
was made to position wall captions, images       “speed read” of the key issues and messag-
and graphics at different heights, and key       es in each area. The museum boasts dedi-
statements are written in large, high-con-       cated rooms (cabinets) which present indi-
trast type. There is an audio guide to the       vidual topics in greater detail and provide
exhibition for the visually impaired, and the    an immersive experience for visitors.
entire exhibition is captioned in German
and English.                                     One of the exhibition‘s highlights is a 12.5
                                                 kilogramme bar of gold which visitors are
The exhibition is ideal for self-directed vis-   permitted to touch and lift. At the heart of
its. By arrangement, visitors can enhance        the exhibition tour lies a 360° cinema. Three
their museum experience by making use of         films use stimulating and thought-provok-
educational services such as guided tours,       ing elements to immerse visitors in different
discovery tours and workshops, and a lec-        experiences and challenge them to reflect
ture service for school groups and students.     on, question and discuss what they see.
Since its renovation, the Money Museum
now houses three lecture rooms for pres-
entations and discussions, as well as a mu-
seum education room.

The tour leads visitors through the four
themed areas: “Cash”, “Book money”,
“Monetary policy” and “Global money”. In
each one, the left-hand side of the outer
wall of the tour route explains the current
and general context and illustrates the
central bank‘s tasks in that particular field.
The interior wall, meanwhile, explores the
theme from a historical perspective. At
Deutsche Bundesbank
   Annual Report 2016

   42

                  are determined upfront. This format aims to            Quality assurance
                  enable participants to pose questions and crit-
                  ically discuss topics. As well as taking place on    The Bundesbank has measures in place to as-         Internal
                                                                                                                           evaluation
                  Bundesbank premises, events are also hosted          sure the quality of its economic education activ-
                  by external venues such as schools, universities     ities. Working groups from the Regional Offices
                  and teacher training institutions. Teacher train-    and Central Office prepare standardised pres-
                  ing seminars tend to last anywhere between           entation slides on lecture topics for which de-
                  half a day and a full day, whereas events for        mand is greatest. As well as making it possible
                  schoolchildren typically consist of a 90-minute      to leverage synergies when preparing lectures,
                  talk, including time for discussion. Meanwhile,      this approach also safeguards their professional
                  events for students are normally offered in con-     quality, ensures that presentations have a con-
                  ventional formats such as lectures and semi-         sistent look and guarantees that they are up-
                  nars spanning one or several days.                   dated on an ongoing basis. On top of this, all
                                                                       lectures are evaluated internally by means of
High demand       In 2016, total attendance figures across             participant surveys, which enables speakers to
for lectures
                  more than 1,600 economic education events            receive direct feedback from their audiences.
                  reached around 52,000. Now that the Mon-
                  ey Museum has reopened following its closure         Evaluation specialists from Univation – Institut    External
                                                                                                                           evaluation
                  for renovation, lectures will also resume at the     für Evaluation Dr. Beywl & Associates GmbH
                  Bundesbank’s Central Office in 2017. As a re-        assessed the range of economic education ser-
                  sult, it is safe to assume that total attendance     vices offered by the Bundesbank at the end
                  figures at such events are likely to rise further.   of 2015/start of 2016. This exercise set out to
                                                                       explore whether the existing economic edu-
                  Further to the established lecture programme,        cation services were properly tailored to their
                  Bundesbank President Dr Jens Weidmann has            target groups, had the desired reach and met
                  been meeting with teachers from all over Ger-        their outlined objectives. An external academic
                  many once a year since 2013 to exchange              advisory committee made up of distinguished
                  views on current monetary policy issues and          university lecturers from the field of economic
                  the manner in which they are taught in the           education also played a role in the evaluation.
                  classroom. Dr Weidmann has also been regu-
                  larly meeting with schoolchildren in a similar       This external evaluation concluded that the
                  format since 2014.                                   Bank’s range of services should be maintained
                                                                       and refined, affirming that the Bundesbank’s
Generation €uro   Another of the Bundesbank’s tasks in the field       economic education services are expedient,
Students’ Award
competition
                  of education is the coordination at the na-          rated highly by the target groups and bear the
                  tional level of the Generation €uro Students’        hallmarks of the Bank’s expert status and neu-
                  Award competition, an initiative set up by the       trality. It also confirmed that the programme
                  European Central Bank. In this competition,          stood out on account of the high degree of ex-
                  teams of school pupils from euro-area coun-          pertise provided, its up-to-date content and its
                  tries tackle questions on monetary policy. The       real-world applicability. The reach of the Bank’s
                  German final of this competition is held at the      economic education services and the extent to
                  Bundesbank’s Central Office, with the subse-         which the respective target groups are familiar
                  quent European final being hosted by the Euro-       with them were noted as points with potential
                  pean Central Bank.                                   for further development. In addition, the pro-
                                                                       vision of teaching and learning materials was
                                                                       cited as another area with room for improve-
                                                                       ment. There are plans to repeat this external
                                                                       evaluation every five years.
You can also read