On 15 December 2021, the NBU awarded the winners of the third student competition Monetary Policy: NBU University Challenge. The competition between teams from different Ukrainian universities is organized by the NBU every year.
The competition aims to broaden students’ understanding of the specifics of central bank actions to ensure price and financial stability in the country.
“NBU University Challenge was held for the third consecutive year, and I have no doubts that the NBU will uphold this tradition. After all, developing the intellectual potential of young people is one of the NBU’s unchanging priorities.
We are proud that this competition has become a unique Ukrainian-wide platform that enhances the quality of students’ theoretical learning and enriches it through practical experience. As in previous years, this year we intended to provide a possibility for students to see the behind-the-scenes operation of a central bank and put themselves in the shoes of NBU experts and Board advisers,” NBU Deputy Governor Sergiy Nikolaychuk said.
The team from the National University of Kyiv-Mohyla Academy – led by their mentor Olena Primierova, PhD in Economics – has won the NBU University Challenge 2021 and the Cup of the NBU Governor. The team includes the following 3rd-year students of the Department of Economics: Vitalii Veremiienko (captain), Anastasiia Komarova, Tetiana Shendera, Valeriia Knuriova, and Dmytro Zhuk.
The 2nd degree diploma was awarded to the team of 2nd and 3rd-year students from the Department of Economics at the National University of Ostroh Academy. Mentor: Oleksandr Novoseletskyi, Associate Professor, PhD in Economics. Team members: Nataliia Horoshko (captain), Ivanna Lukashuk, Vasyl Chukhilevych, Bohdan Zakharchuk, and Bohdana Pavlenko.
The 3rd degree diploma was awarded to the team from Taras Shevchenko National University of Kyiv mentored by Nataliia Versal, Associate Professor, PhD in Economics. The team included the following first-year students of the Master’s program and third and fourth-year students of the Bachelor’s program from the Department of Economics: Tetiana Lem (captain), Hanna Kuchanska, Anastasiia Komar, Yevhenii Riabko, and Yehor Sevostianov.
The jury of the final of the third student competition Monetary Policy: NBU University Challenge:
- Sergiy Nikolaychuk, Deputy Governor
- Volodymyr Lepushynskyi, Director of the NBU Monetary Policy and Economic Analysis Department
- Pervin Dadashova, Director of the Financial Stability Department
- Mihnea Constantinescu, Manager of the Research Division of the NBU Monetary Policy and Economic Analysis Department
- Olha Poharska, Deputy Director of the NBU Monetary Policy and Economic Analysis Department, Head of the Economic Analysis Office
- Mykhailo Rebryk, Head of the Monetary Policy Office of the NBU Monetary Policy and Economic Analysis Department
As in previous years, Elisabeth Curtis, PhD, Senior Lecturer in the Department of Economics at Dartmouth College (USA), mentor of the team that won College Fed Challenge 2020 and a regular jury member of the College Fed Challenge, joined the event as an honorary jury member.
Over 150 participants from 13 regions of Ukraine and the city of Kyiv entered the competition. 31 student teams representing 22 Ukrainian universities joined the competition.
Until 20 October, participants prepared their competitive proposals on changes to the key policy rate of the central bank and improvement of the NBU’s monetary policy design in view of macroeconomic forecasts in Ukraine and the world. On 5 November, the NBU announced the top three teams that on 3 December defended their proposals and their own monetary policy decisions in the final of the competition. These contestants thus played the role of advisers to the NBU Board, while the jury acted as its members.
In the final round, the jury assessed the students’ understanding of the key concepts in macroeconomics and monetary policy, the quality of macroeconomic analysis, completeness of answers to the jury’s questions, team work, and presentation skills.
All 15 students from the finalist teams were invited for internship at the NBU.
In 2022, the NBU intends to continue the NBU University Challenge tradition.
Follow the NBU University Challenge news on the special website and on the Financial Literacy Ukraine Facebook page.