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BANKING

Serious amateur bankers unite

FOR THREE days in September, high school students fight for position on the financial market. They make critical decisions on interest rates, investments in marketing, and research and development - and they do it all in a simulated banking environment.

FOR THREE days in September, high school students fight for position on the financial market. They make critical decisions on interest rates, investments in marketing, and research and development - and they do it all in a simulated banking environment.

"The aim of Banks in Action is to let students experience and get to know specific banking markets and understand economic phenomena and mechanisms impacting the [banking] sector," said Gréta Balátová, programme manager for Junior Achievement Slovakia.

Banks in Action, an educational programme managed by Junior Achievement Slovakia, consists of computer software that simulates a country's banking system. The system includes commercial banks (students) and a central bank represented by the teacher. The central bank periodically changes the parameters of the environment such as interest rates, thus helping the students better understand the economic results, i.e. inflation and deflation.

Banks in Action culminates in a final round of competitions held in September. Sponsored by Slovenská sporiteľňa bank, the competition pits the top 20 regional winners from the previous school year against each other for first place.

This year's final round was held in Moravský sv Ján from September 14 to 16.


Prepared by Marta Ďurianová

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