INNOVATIONS, NEW RULES AND TEACHING REQUIREMENTS
University of Finance and Administration (CZECH REPUBLIC)
About this paper:
Conference name: 11th International Technology, Education and Development Conference
Dates: 6-8 March, 2017
Location: Valencia, Spain
Abstract:The paper aims to present the impact of the research results on the innovation of the ways of teaching and on the content of training programs. The research was conducted by the University of Finance and Administration in Prague, Czech Republic. The authors discuss the teaching of economic courses at the undergraduate and master's level. In the theoretical part, they assess the possible attitudes and selection of methods. The crucial point that must be tackled by the teacher is - according to the authors - the ever existing conflict between the real, constantly changing situation on the markets and the „textbook“ theories. The inclusion of information covering the current developments on the financial markets in the topics of lectures and exercises is urgently needed, because the student must be, in addition to the theoretical knowledge, able to critically evaluate the topical development. The new EU directives, together with the procedure of their creation and approval, are, in the opinion of the authors, more important for the successful professional career of the University graduate than the knowledge of the theory established decades ago.
Nowadays, the banks are obliged e.g. to implement the EU directives elaborated with the regulatory and oversight institutions, such as the ones within the European System of Financial Supervisors (ESFS). It's all about the slow transfer of the relevant new measures and the results of surveillance activities of all these institutions that create the subsystem of the ESFS, especially the EBA (European Banking Authority), the ESMA (European Securities and Market Authority) and EIOPA (European Insurance and Occupational Pensions Authority). The authors of the text also consider it important for students to hear constantly, that current scientific knowledge is available for them directly in the databases of these institutions on their websites.
It turns out that, in practice, there is not always a consistent application of the theory, and, on the other side, the students are in most subjects still pushed to the use of traditional printed books with often obsolete knowledge. In the text, the authors discuss also an influence of the political decisions on the regulation on financial markets, and on measures against money laundering. The contribution concludes with the principles for the proposal of the new comprehensive training program, which will be more directed to the current Internet sources, offering up-to-date information and knowledge.
The paper has been prepared within the Project "Current Trends in Development of Financial Markets" supported by the Institutional Support for Long-Term Strategic Development of Research Organization, University of Finance and Administration in 2016.
Keywords: Finance, supervision, anti money laundering.