Global Money Week

2017 Country Name Global Money Week

Leading Organizations:
National Bank of Romania
Financial Supervision Authority
Ministry of Education of Romania

Participating Organizations:
Alexandru Ioan Cuza University of Iași
Bucharest Stock Exchange
Dimitrie Cantemir University, Bucharest
Dunărea de Jos University of Galați
Romanian-American University, Bucharest
The Bucharest Academy of Economic Studies
Banca Transilvania
CITR
Primera Interior Design
Iulius Mall
Financial Studies Institute
Iași City Hall
AEGON
“Lucian Blaga” High School
Cluj School Inspectorate
Impress
Cinema Victoria
National Bank of Romania (Cluj)
Weber Saint Gobain
Kindergarten Nr.1, Viseu de Sus, Maramures
Kindergarten Nr. 9, Sighetu-Marmatiei, Maramures
Kindergarten Floare de colt, Baia –Mare,Maramures
School Inspectorate, Maramures

Throughout the Global Money Week 2017, the Financial Supervisory Authority (FSA) along with all its partners, both public institutions and corporates, plans to organize several events especially addressed to children and youth, but also to teachers, as part of the educational system (as children will become indirect beneficiaries). From our statistics through all our initiates we will be able to reach more than 514.000 children and youth.

We will begin the celebration of the GMW with the Bucharest Stock Exchange festively opening on Monday, 27th of March. A group of children together with high-level representatives of FSA and BSE will take part at this opening that will be live streamed on FSA`s Facebook page.

On the same day, the necessity of raising the awareness about financial education among teachers, parents and professionals will be explained by a representative of FSA through online educational program which will be broadcasted on web and in various media. A financial education contest will be organized together with Bucharest Academy of Economic Studies, addressed to students from Cybernetics.

The schedule we are planning is very tight because almost every day simultaneously there will take place several events, such as:

- The academic laboratory – an innovative workshop in terms of format as well as concept which offers the opportunity to university students to engage themselves in interactive discussions with professionals from non-banking markets while comparative analyses between various practical and specific technical concepts in the non-banking financial markets are being presented.

- Informal interviews of professionals taken by children – during the GMW 20 children with ages between 8 and 14 will interview 10 CEOs or Presidents of selected corporates from non-banking financial markets.

- “Let`s talk about the non-banking financial markets” – between 27th – 31st of March there will take place the summing up lessons of our educational program addressed to children and teenagers in 9 different educational institutions.

- Kindergarten educational games taking place in the central park of Iasi for more 300 hundred children up to 6 years old.

- Promoting new tools for financial education for children through web page and Facebook: mascot, a series of cartoons, a booklet for small children.

- All schools and colleges (115) involved in the FSA financial education program will celebrate GMW 2017.

- An intensive representation in media in order to popularize the financial education.

Additionally, on Thursday we will celebrate GMW in Iași where will organize the following events:

- Train-the-Trainer seminar addressed to school teachers interested in expanding their knowledge in non-banking financial markets

- High-level knowledge seminar dedicated to non-financial markets professionals

- A voluntary action initiated by FSA and supported by non-banking corporate representatives and the School District of Iași through which several schools will update their library collection with books donated by volunteers- the CSR project is based on objectives regarding financial inclusion and financial education

- A market exhibition will be arranged in order to support the interaction between corporates and general population. The visitors will have the opportunity to understand the mechanisms of the markets through interactive presentations

On Thursday night we will organize the first edition of EduFin Gala Awards in order to celebrate the most innovative financial educational initiatives and programs that were developed and extended in 2016

We will end the celebration of the GMW on Saturday with the third edition of the “Be smart” event which is an interactive educational program addressed to young children of ages between 7 to 12 years though which they learn about the importance of financial planning, diversifying revenues, ways of identifying the needs and of the risks and the usefulness of having an insurance, key tips about investing

During the week the Bucharest Stock Exchange will moreover have other 2 events: Rotary Invest Quest – module 1 (in Bucharest, 29th of March) and a Fluent in Finance seminar in Brasov (March, 30).

Many activities will be organized in Cluj by the various active partners of CYFI in the city. Upper middle school students from Transylvania College and ‘Lucian Blaga’ high school will benefit from the SchoolBank programme, wherein they will participate in 14 financial workshops, leading up to their visit to Banca Transilvania where they will open their personal, savings accounts.

During the week, students in Transylvania College participate in various activities tailored to their age and needs. Children in kindergarten will watch Financial Puppet Theater, learning about saving resources by meeting their favourite puppets. They will also listen to financial-themed stories told by their older peers, and will participate in a workshop delivered by a special guest, on the importance of keeping our planet clean. Once they understand the impact of trying to ‘save’ the environment, the students’ Eco Team will help them organise a Spring cleaning around Transylvania College.

Primary students will work alongside their parents and friends to craft goods, and set up shops to sell their handmade products, thus, learning the real value of money through personal effort. Moreover, they will be offered a certain amount of money to invest in various simulated situations, with the objective to save or make as much money as they can by the end of the session. Further during the week, upper primary students will take part in a Skype conference with children from the International School of Bucharest and International British School of Bucharest, to compete in a debate tournament with financial motions. Finally, as part of our Minimalist Drawing Competition, primary students from Transylvania College and the international schools in Bucharest will be invited to express their creativity and to display graphically our GMW theme, “Learn. Save. Earn.”

Students in high school will have the opportunity to meet and discuss with 10 successful professionals from various fields, in the 10 Success Stories conference. They will also have the chance to visit banks, financial institutions and businesses, to understand how these work, during the Backstage Pass day, which will open the way for their Literary Café, a space where a socio economic magazine coordinated by our students will have its debut. Towards the end of the week, students will connect with the real world by taking part in Financial Workshops delivered by guest-specialists, and will compete in the Minimalist Drawing Competition, with students from Bucharest.

Apart from taking part in the SchoolBank programme, middle-schoolers will spend a whole day shadowing their parents at the workplace, in order to learn more about the adults’ jobs, and to get accustomed to being in a professional work environment. The next day, they will a share their experiences with their colleagues and with the staff, during the ‘Let’s Talk’ sessions. Towards the end of the week, these teenagers will enter a game of Life Sized Monopoly, where they play their beloved game in a human sized version, having to walk on the board from square to square, where they encounter not ‘Boardwalk’, but real-life organisations from their environment. Furthermore, they will take part in a Trading Game, where they will deepen their understanding of international trade and its macroeconomic implications, by trading cocoa beans between fictitious developed, and developing countries. Finally, on Enterprise Day, they will have their entrepreneurial skills and ingenuity put to the test in a challenging event.

Throughout the week, students in Transylvania College will earn Funny Money, banknotes of various values, depicting real members of our Student Leadership Team. These will be given for outstanding behaviour and exceptional class interventions. With this currency, they will bu individual or group privileges from the school management, such as: no uniform day, lunch at a restaurant with their form tutors etc.

Even kindergartens are very active during GMW in Romania! This week Kindergarten no 1 Viseu de Sus, kindergarten no 9 Sighetul Marmatiei and the kindergarten Floare de Colt from Baia Mare will organize and will roll on financial education activities in the project named ~Pusculita cu surprize~ Money box with surprises. The project aims to expose a complete image of the money, showing how it is perceived, acquired, spent, saved, invested, donated in charitable purposes or borrowed in today’s society, simultaneously with the acquirement of some management skills. The project proposes to integrate a number of 600 pre-school kids between 4 and 6 years and pupils between 7 and 8 years from 10 counties of Romania, guided by 100 teachers. At this project will participate a number of 300 kids directly involved and 300 kids indirectly involved. Also, the projects intends to approach attractive themes using games. At the final action will participate a number of 300 kids that will sustain scientifical questioning from the domain of financial education presented as a game in the competition.


2016 Romania Global Money Week

Leading Organizations:
National Bank of Romania
CFA Society Romania
Ministry of Education of Romania
Financial Supervisory Authority (ASF) – Romania

Participating Organizations:
ISJs of 41 districts
Financial Studies Institute
D. Cantemir University (Bucharest)
Bucharest Stock Exchange (BVB)
Edubiz
Transylvania College
Royal School in Transylvania

Date of the event:
14th - 20th of March

Total number of children & youth engaged: 38 292
Total indirect reach: 24 595

GMW 2016 in Romania ran as part of the “Let's Talk About Money and Banks” project, organized by the National Bank of Romania (NBR) in cooperation with the Ministry of National Education and school inspectorates.

During the Week, students attended various events on the premises of the NBR branches across the country, agencies and in schools. Presentations at the branches were given on the national currency history, history of money, history of the NBR, economic and financial basics about credit, deposit and inflation, local peculiarities and the security features of banknotes. The NBR’s educational videos “The History of Money”, “Security Features of Banknotes”, “The Lifetime of Banknotes” were also incorporated into the presentations. These videos and are available to view on the NBR’s YouTube channel (https://www.youtube.com/watch?v=eXMLuHPdVLI&feature=youtu.be) along with a virtual tour of the NBR (http://www.bnr.ro/files/tur/EN/index.html). Moreover, students and teachers from Bucharest visited the NBR’s headquarters, the Old Palace, NBR Boardroom, the Governors' and the NBR Library. Furthermore, representatives of the CFA Society Romania joined the NBR teams for the first time to deliver presentations on financial and banking topics in a number of schools in the counties of Teleorman, Giurgiu and Dâmboviţa.

Furthermore, a 7th grade class of children, already enrolled in the ASF’s financial education program, opened the day at the BVB. Several representatives from ASF, BVB and the media were present along children. The ASF speech focused on the importance of financial knowledge for children and young people, and also announced the launch of ASF’s financial education website, dedicated to the needs of children and youth (www.asfromania.ro/edu). This is the first Romanian financial education website managed by a public authority and dedicated to children and youth. ASF also continued the financial education classes in schools and high-schools, as per the national financial education program developed in collaboration with the Ministry of National Education and Research.

On 17 March, at the Dimitrie Cantemir University, Bucharest, the first “Academic Laboratory” took place in which students were presented with case studies and interacted with professionals from non-banking markets. The workshops and debate were a premiere in the academic environment, both as a format and as a concept. Over a period of four hours, students took part in interactive discussions and a comparative analysis between various practical and specific technical concepts in the non-banking financial markets (insurance, capital market and private pensions).

The series of events dedicated to financial education during Global Money Week ended on 19 March, when the second edition of the "Be Smart" event was held for children between 10 -14 years of age at ASF’s headquarters. Through this non-formal education program, based on interactive presentations and open discussions, concepts regarding the importance of financial planning, diversifying revenues, key tips about investing and the ways of identifying the needs and of the risks and the usefulness of having insurance were explained to the children.

During GMW, EduBiz conducted games and activities with 345 high school students (15 -18 years old). Because EduBiz emphasizes that financial products for children and youth need to be adapted, interactive and safe, a survey was conducted during GMW on adequate financial products for youth and children, in collaboration with CYFI. Transylvania College organized several fun, interactive and practical GMW activities for its students as well. For example, “Job Shadowing” activities, Success Stories and Story Telling, life-size Monopoly game, financial workshops, "Dragons Den" market are only some of the activities organized in the school. At the end of the Week, there was an international Open Debate Competition on financial issues. Students of Royal School in Transylvania also had the chance to participate in a general assembly, where students attended VIP talks from seven entrepreneurs who shared their insight about what makes a successful business person. Other activities included visiting a greenhouse, mindfulness training by Trinity House, a stock market competition and a trading presentation by High Class Trading, piggy bank innovations, a coin treasure hunt, a numismatic exhibition and a big opening of the Sunflower Restaurant!

Seeing the painstaking work done in making coins, students have vowed to take care of each coin, however small would value it and will cherish the value of money"Prof. Danciu Felicia, Gheorghe Lupan School, Groşi, Romania
"I will tell my friends what I have learned in this program as I think I gained important knowledge for my future." Alexandru, 7th Grade, Romania
"I will gladly tell my friends everything because I think this information should be known by everybody."Raluca, 7th Grade, Romania

2015 Romania Global Money Week

Participants:
National Bank of Romania
Ministry of Education
Forumul Tinerilor din Romania
Transylvania college (with the support of Banca Transilvania)
Date of event:
9th - 17th of March
Number of children reached:
5 180

Similar to 2014, Global Money Week (GMW) ran as part of the Let’s Talk About Money and Bank project , organised by the National Bank of Romania (NBR) in cooperation with the Ministry of National Education and school inspectorates. From 9-17 March 2015, students accompanied by their teachers attended various events at the NBR branches and agencies or in schools. The nationwide framework program of GMW included visiting the NBR’s network across Romania. In the case of NBR branches, the program also included visits at the centers for processing and destruction of banknotes where the children also had the opportunity to see the new processing center and the latest equipment in order to remove from circulation the banknotes with defects (i.e. holes, tears). The program consisted of presentations on the national currency history, history of money, history of the NBR, economic and financial basics about credit, deposit and inflation, with focus on local peculiarities and the security features of banknotes; and NBR’s educational videos “The History of Money”, “Security Features of Banknotes”, “The Lifetime of Banknotes”.

Furthermore, students and teachers from Bucharest visited the NBR’s headquarters, namely the Old Palace , NBR Library, which holds one of the largest collections of economic literature in the country, NBR Boardroom and The Governors’ Gallery: a line of portraits of the governors, and the NBR Museum , where they could discover The Treasury houses, history of coins and medals. Overall more than 5110 students were involved in the project. Over half of them are enrolled in primary school and a third in middle school.

Teachers feedback following these events was key for a positive impact on the students. Teachers involved in the Global Money Week project have expressed strong interest in a future cooperation with central bank experts. Therefore , the dedicated programme jointly implemented with the MNE under the motto Learn more, improve yourself was extended by more than one week in order to accommodate the great number of requests from schools.

The Romanian Youth Forum also took part in Global Money Week through the organization of the „Start in Antreprenoriat” ,a conference specifically designed for young entrepreneurs. Among the main talking points were topics such as: “Lean Startup”, “Sources of finance”, “Romania Hub”, “Entrepreneurship, Think and Grow Rich”, and “CSR for an authentic business”. The speakers were recognized personalities from Romanian business community representing organizations such as Social Responsibility Magazine, the Romania Association of Entrepreneurship, Romania Association of Entrepreneurship and Junior Achievement Romania. The speakers were asked to provide authentic business solutions that young people in the audience could use.

At Transylvania College, the Global Money Week 2015 started with an assembly where teachers presented the projects that they have coordinated and students from PIL (primary international line) along with some staff members held the STOMP dance and music (made all from recycling materials). A Start Up competition was also launched. For students in the Kindergarten and Primary School a Financial Theater, “Pinocchio & Economy” was organizeda puppet theater initiated by two local actors who taught the little ones the importance of saving money with Pinocchio’s help. This was a very interesting experience for the little ones who fully enjoyed the play. For primary students the Dragons Den Competition started the second day. Other classes from the primary line worked for The Silent Auction, creating objects from recycled materials.

High school students and grade 8 had the privilege of participating at the second edition of 10 Success Stories Conference, which was a great opportunity of receiving great pieces of advice from 10 special speakers that have dedicated their time to share their life experience with them. Middle and High School students also enjoyed visiting five locations in Cluj: some went to Aegon, some to Arobs, Iulius Mall, BNR or BT. The school was even opened during the weekend, when a National Debate Competitionwas organized. With the support of ARDOR organization, students from debate clubs from all around Romania have come to the school in order to compete on financial motions. After a productive working Saturday finalized with a special party, on Sunday two teams entered the finals and tried to convince the jury and the public about their power of making a valid point and of defending their opinions. The winning team won a special debate scholarship which will cover future debate costs and admission fees.

 

2014 Romania Global Money Week

Participants:
National Bank of Romania
Ministry of Education
VISA Europe
“Junior Achievement Young Enterprise” Romania
Transylvania college (with the support of Banca Transilvania)
Bucharest Stock Exchange
Date of event:
10th - 17th of March
Number of children reached:
7 695

Preparatory work for the Global Money Week 2014 campaign kicked off as soon as the National Bank of Romania (NBR) received the invitation to join the Ministry of National Education (MNE) in carrying out this event nationwide initiated by Child and Youth Finance International. NBR has been conducting financial literacy projects since 2008. For GMW 2014 the NBR, Visa International and Junior Achievement jointly implemented events for primary and middle school students. The first of which was the ‘International Conference on Financial Education: Investment in the future of the society’ organized and sponsored by VISA Romania, NBR and MNE. The conference was the first important step towards the elaboration of a white paper on financial education in Romania.

NBR’s nationwide programme for GMW included visits to NBR’s national branches; visits to the centres for processing and destruction of banknotes; participation in presentations on the history of the national currency, money and the NBR, with a focus on local peculiarities and the security features of banknotes; and screening of NBR’s educational videos “The History of Money”, “Security Features of Banknotes”, “The Lifetime of Banknotes” and “Virtual Tour of the NBR’s Old Palace”. Students and teachers in Bucharest attended the International Conference on Financial Education: Investment in the Future of Society on the 13th March and visited the NBR’s head office, the NBR Museum and the State Mint. Participants were also invited to watch Eugène Labiche’s “Piggy Bank” performed by the Romanian troupe of the Wiener Kindertheater under NBR’s project “Cultural Days of the NBR 2014”.

Overall, more than 6,100 students and approximately 360 teachers from 124 schools across Romania took part in this project throughout GMW. The number of students involved in the project averaged 1,013 per day and peaked at 1,136 on 13 March, when the Conference on Financial Education: Investment in the future of the society was organised.

The financial messages were multiplied via follow-up sessions in the educational venues. The feedback the NBR received following these events is a key indicative of the impact which they had on the students. They loved the new and fresh way the history of money was showcased, and the accessibility of presentations, i.e. the concepts were explained in plain language and the videos were fun and entertaining. The programme was so enjoyed by both students and teachers that the motto ‘Learn more, improve yourself!’ was extended by more than one week in order to accommodate the great number of requests from schools and universities.

NBR and MNE have implemented an optional financial education subject as part of the alternative curricula for primary education approved by the Romanian Ministry of Education. It was first implemented in the academic year 2013 – 2014. During Global Money Week, 1095 students who take the subject participated in a regional financial education competition called the ‘Olympics of Young Bankers’ (‘Olimpiada Micilor Banchieri’).

Visa Europe launched the BaniIQ program, together with the Romanian Member Banks, the Ministry of Education, UNDP, the National Consumer Protection Authority, Junior Achievement and IREX. BaniIQ is an effort to scale up and coordinate financial literacy efforts on a national scale.

Junior Achievement (JA) Romania organized learning-by-doing activities on financial topics for students aged 6-19 years delivered by JA teachers and business volunteers from partner banks Alpha Bank, BCR, BRD Groupe Société Générale, Credit Agricole, ING Bank, Millenium Bank, Raiffeisen Bank, Banca Transilvania, UniCredit Tiriac Bank, VISA EUROPE, and the Romanian Stock Exchange. JA also organized Innovation Camps where high-school students partook in creative and innovative challenges on financial topics. The ultimate aim is for JA to gather information to create a white paper on financial education called ‘Teens Personal Finance’. JA also collaborated with Bucharest Stock Exchange in organizing a capital market and stock exchange platform presentation for high-school students.

Transylvania College, the winner of the Global Money Week Award 2013, organized a financial and entrepreneurial education program, the first of its kind in Romania. This year the activities will be organized around the theme “Start-up”, in connection to the global theme ‘entrepreneurial’ theme of CYFI. This year Transylvania College wants to answer the question: What do children and youth want for their future? Therefore, their project aims to educate the children and youth to be ready for contemporary society where they need to be financially “literate”, but also to encourage them to share ideas, take a stand, and to make an impact on the future society at a global scale. Over 500 children and 100 staff members were involved in many exciting activities related to financial education and entrepreneurship such as Video Chat Cafe and VIP Talks; Youth Talks and the Dreams Bank campaign.

A host of activities were organized by the Transylvania College such as ‘Funny Money’ where the students earned money for various positive actions and good behaviour during the week. During the daily House meetings the students decided about the way they will increase their amount of money by the end of the week. They can choose to deposit the money in the ‘Virtual Bank’, a facility especially offered by Banca Transilvania for this event. Visits were organized to Banca Transilvania, Auchan Supermarket and a recording studio (showing an entrepreneurial activity). Primary school (international line) will receive a visit from the Fire City Department for a career orientation activity. The school’s radio announced events, daily results of contests, the exchange rate for Virtual Stock Exchange competition and topic related songs. A webinar was held by Eusebiu Burcas for the parents of young children, where he spoke about how to raise a “Prosperous Child.” An exhibition & auction celebrated young entrepreneurs where hand-made products by students (primary and middle school) were sold to parents and community members.

High school students had a great opportunity to meet 10 successful entrepreneurs who were the school’s special guests for an interactive panel on the topic of “Key to Success for Young Entrepreneurs”. The students participated in a debate on whether it is necessary to introduce financial and entrepreneurial classes in the schools’ curriculum.

A fresh idea this year is the ‘Start-up Competition’, organized for 14-19 year old students who are willing to put their entrepreneurial skills to the test. After several training sessions the participants had the opportunity to present their projects to a panel of financial and entrepreneurial specialists who chose projects that can actually be successful as small businesses. The selected projects qualified to enter the finals where a special jury will decide upon the 3 best projects which will be financed for a whole year (until the next edition of My Money Week).

A competition was organized among the 3 school houses in order to create problem solving skills among young people working in teams. They had to solve problems arising within their virtual companies. Financial Football was also played to learn about financial education and entrepreneurial concepts through a video game produced by VISA. ‘Youth Inventika’ is an acitivity were high school students were challenged to come up with creative solutions for an instrument to save time, money and, at the same time, be eco-friendly. Their proposal was to be submitted for approval in order to be admitted in the competition. The accepted proposals were produce as a prototype and presented in front of a judging panel. The works were exhibited in the school’s hall.

Even Kindergartens were involved in Global Money Week with activities such as ‘career week’; ‘funny math’ where kids learnt simple arithmetic with coins; ‘the smart shopper’ where kids visited grocery stores in groups and learnt about prices, payment, change, and budgeting; and ‘Cake Sale Day’.

Global Money Week ended with an event that has already become a tradition in our school - ‘Rock the Night’ - where the participants of Global Money Week celebrated the end of the week of activities with music and dancing. The funds gathered during Global Money Week and ‘Rock the Night’ are donated to the fight against childhood cancer.

 

2013 Romania Global Money Week

Name of organizing entity: Junior Achievement Romania; Partners: Ministry of Education, Raiffeisen Bank, Visa Romania, Unicredit Tiriac Bank; Date of the event: 15th – 21st of March; Number of children reached: 22 930;

During Global Money Week, Junior Achievement Romania (JAR) provided 22 930 students with in-school learning by doing activities, focused on financial education, with the support of business volunteers from banks.

The eight financial education programs implemented during this week (through Primary school: Ourselves; Gymnasium: Money sense; High school: Personal Finance, ABC Banking, ABC Insurance, Insure your Success, the Stock Market, Money IQ), helped students get a better understanding on managing personal financial and building a healthy financial life within their family and for their future.

The business consultants from the banks visited schools and taught students about financial education through interactive activities provided by JAR.

Over 200 business consultants volunteered their knowledge and a total of 1 100 hours of their time and help students become financial independent in the future. JAR provided teachers and students, free of charge, with full kits of materials for all programs:

  • teacher’s guide, business volunteer guides, student notebooks and auxiliary materials
  • teacher training
  • evaluation tools, including online/onsite pre- and post-testing,
  • business volunteers in the classroom
  • teacher and student certificates
“These activities are very useful for us because we get the opportunity to meet practitioners from different fields, individuals who represent models for us.” - Student