First-Year Students at the Institute for Quality of Life Gained Hands-On Experience in Forecasting the Bank of Russia's Key Rate through an Interactive Business Simulation

A business simulation game, titled "Key Rate," was conducted at Adyghe State University. Organized by faculty members of the Faculty of Economics in collaboration with staff from the Bank of Russia's Adygea branch, the event aimed to familiarize students with the primary instrument of Russia's monetary policy.

During the session, experts from the Bank of Russia's Adygea branch discussed the factors influencing the decision to change the key rate and its effects on the national economy. First-year students from the Institute for Quality of Life not only gained insights into how the regulator manages inflation and sets the key rate but also had the opportunity to role-play as specialists within various departments of the Bank.

Utilizing real-world case studies, participants analyzed how the Bank of Russia's Board of Directors determines the key rate and learned to evaluate economic conditions across different sectors. Based on their analyses, they formulated their own policy proposals and presented and defended them before their peers.

All teams effectively applied the knowledge acquired during the game, and the "Board of Directors," represented by their designated members, reached a unanimous decision aligned with the simulated economic scenario. Additional tasks were incorporated to assist in determining the winning team.

The winning team comprised Nikita Nemykin, Said-Magomed Galaev, Akhmed Galaev, Vladimir Illarionov, Vadim Kudryavtsev, and Yusef Lebzo. The winners and participants were awarded certificates and gifts from the Bank of Russia branch.