Financial Adventure of the International Economics and Business programme

13:27, April 6, 2021

Students refine their financial literacy together with UBRD in a game format

2nd year students of the International Economics and Business programme had a series of exclusive games on financial literacy from the Ural Bank for Reconstruction and Development (UBRD) within the frame of the disciplines "Finance" and "Money, Credit, Banks”. Alisa Tyagunova, curator of the project on financial literacy of the UBRD "Finance Guide", said:

“Within the frame of the Finance Guide project, UBRD regularly organises events to improve the financial culture in society. It is important for us not only to teach people how to effectively manage their finances, but also to be able to convey this in a simple, understandable and playful way. Our financial board game is a worthy example and simulates a career opportunity and an opportunity to become a successful entrepreneur. It makes it clear how banking products work in different life situations. The game is unique, it was developed under the order of the bank, it is not for sale! But this year we are planning to release it as a gift version". 

Students practiced making and spending money, doing savings and investments, as well as analysing their financial decisions and predicting possible consequences under the guidance of trainers who professionally moderated the event and set the dynamics for the game.

“This game differs from many in that it practically minimizes such a factor as randomness. It is present as an important element of the game, but the players can influence it. The game allows participants to build a financial strategy and has an interesting competitive nature. It is “seasoned” with humor to make it more fun for participants to play it ”- said Stanislav Pyatnikov, the game developer and director of the company Corporate Learning Strategies   

Young international economists learned more about the main banking products and services, how to rationally plan their spending, draw up a financial plan, and also make investment decisions. In addition, the gamification of the educational process allowed both to develop practical skills in the field of finance, and to boost software skills in the process of team decision-making. The participants of the game showed high interest in the event and shared their impressions:  

"We really liked the game! It clearly shows the difference between hired labor and entrepreneurship (of course, most of us went down the path of becoming business sharks). We had a great time: we learned a lot, played, talked and joked. Everything went at the highest level in a pleasant and friendly environment. To be honest, I would like to repeat such an event! - Shared Veronica Sapogova from the opinion of the EU-293629 group".  

"The game was interesting and realistic enough. We were given the opportunity to imagine a little what awaits us after graduation". - Gonzalo Sosa  

"I liked the game because it is close to life: you can choose 2 scenarios - work in a corporation or build your own business - and each of the scenarios reflect its own characteristics. Corporations with stable work and smooth growth vs. business path with risk, instability, the ability to grow quickly and gain wealth. In the course of the game, you understand that a very important skill of communication both with rivals and with your partner. I would also like to note an important lesson learned from the game: even from the worst situation, when everything is bad, you can get out, nothing is impossible, the main idea is not to panic, believe and act" - Vladimir Krutikov  

The winners of the UBRD games: Valeria Efremova, Yana Nikolaeva, Daniil Podak, Yana Yakovleva, Irina Buzheninova, Ekaterina Magon, Arthur Markunas, Savva Blinov, Anna Gavrilkina, Ekaterina Lapteva, Viktor Petrov, Ekaterina Makrushina, Alexandra Shvydkaya, Gleb Vakhrushev, Anna Kornilova, Anastasia Tovar , Anastasia Prosvirkina, Anastasia Smirnova. Congratulations!

A vital component of the International Economics and Business programme is interaction with business experts in order to support the practical development of disciplines and form product learning outcomes for the successful employment of international economists.