Studia Monetaria lectures for the general public at the Bank of Finland Museum in 2013
A series of regular Studia Monetaria lectures will continue in 2013. The lectures deal with the Bank's operational sectors and the Bank's history. The lectures are given by leading experts in their respective fields. The lectures are intended for the general public, and participation does not require any particular background knowledge.
The lectures are open to everyone and are free of charge. All of them will be in Finnish and will be held on Tuesdays at 5.30–7.00 pm at the Bank of Finland Museum, Snellmaninkatu 2, Helsinki. For more information, please visit the website of the Bank of Finland and of the Museum.
| 2012 | 2011 | 2010| 2009 | 2008 | 2007 | 2006 | 2005 | 2004 |
Next lecture
The autumn programme will be announced later.
Future lectures
The autumn programme will be announced later.
Past lectures
Lectures in 2013
23 April
Modification of euro banknotes
Presentation of the new series of euro banknotes
Paavo Perttu, Head of cash technology, Bank of Finland
16 April
How are pension insurers supervised in Finland?
Erkki Rajaniemi, Advisor to the Management, Financial Supervisory Authority
19 April
European financial supervision under major reform
Anneli Tuominen, Director General, Financial Supervisory Authority
2 March
The financial crisis and central banks
Erkki Liikanen, Governor, Bank of Finland
29 January
Reforming the structure of the EU banking sector
Findings of the High-level Expert Group chaired by Bank of Finland Governor Erkki Liikanen
Note: Lecture held in Swedish
Hanna Westman, Economist, Bank of Finland
Lectures in 2012
11 December
Where are you going, Russia?
Economic and political development in the 2000s
Iikka Korhonen, Head of Research, Bank of Finland
20 November
Financial markets Banks and other financial institutions and stock exchange activities – the basics of the monetary economy, II
Financial markets' functions and structure Lending and financing from markets. Debt and shares. Primary and secondary markets. Various financial institutions. Why should banks and insurance companies be supervised?
Pertti Pylkkönen, Economist, Bank of Finland
6 November
Inflation, deflation, foreign exchange rates and interest rates – the basics of the monetary economy, part I
The characteristics and statistical concepts of money Monetary and exchange rate systems. Why is inflation a hindrance? Is deflation an even more problematic monster?
Lauri Vilmi, Economist, Bank of Finland
30 October
A day in the life of FIN-FSA – what do market supervisors and risk specialists do?
Laila Hietalahti, Market Supervisor and Anne Nisén, Risk Specialist, Financial Supervisory Authority (FIN-FSA)
16 October
Becoming familiar with investment products
The characteristics of mutual funds, structured investment products and unit-linked insurance. How can you recognise a complex investment product?
Market Supervisors Eeva Granskog and Tero Oikarinen, Financial Supervisory Authority (FIN-FSA)
9 October
100 years of the Stock Exchange
Lauri Rosendahl, Managing Director, NasdaqOMX
24.4.
Can I pay by cash?
Pekka Somerkoski, Legal Affairs, Bank of Finland
17.4.
Options available to savers
Features of savings and investment product groups. Risks. Compensation funds. Investor’s checklist. And if problems occur?
Terhi Lambert-Karjalainen, Head of Communications, Financial Supervisory Authority
10.4.
What is money?
Central bank money, scriptural money (ie money deposited in an account), electronic money, cash
Karlo Kauko, Adviser, Bank of Finland
6.3.
Are new tools needed for preventing financial crises?
Macroprudential policy for the financial system
Kimmo Virolainen, Head of Department, Bank of Finland
14.2.
The first year of the new EU financial supervisory authorities amid the debt crisis
Jukka Vesala, Deputy Director General, Financial Supervisory Authority
31.1.
Does banking regulation mean the demise of banking?
Development of banking regulation
Esa Jokivuolle, Adviser, Bank of Finland
Lectures in 2011
29.11.
Financial markets Banks and other financial institutions and stock exchange activities – the basics of the monetary economy, II
Financial markets' functions and structure Loan financing and market financing. Debt and shares. Primary and secondary markets. Various financial institutions. Why should banks and insurance companies be supervised?
Jarmo Pesola, Economist, Bank of Finland
22.11.
Bank tax – what is it and where is it needed?
Kimmo Virolainen, Head of Financial Stability and Statistics, Bank of Finland
15.11.
What is Finland's housing loan market like and how can households manage their loan risks?
The housing loan market in Finland. What are a consumer's most typical risks when taking a loan? How can the loan repayment problems be avoided, and how can the problems arising from a reduction in collateral values be prevented?
Jukka Vesala, Deputy Director General and Peter Palmroos, Researcher, Financial Supervisory Authority
8.11.
The financial markets' situation and the Eurosystem
What has been done and why?
Tuomas Välimäki, Head of Market Operations unit, Banking Operations, Bank of Finland
1.11.
Central banking operational risks during a financial crisis
Pentti Hakkarainen, Deputy Governor, Bank of Finland
25.10.
What should a customer know when taking out life insurance?
The difference between pure risk life insurance and life insurance savings (or endowment) policies. What factors should be considered when taking life insurance? The difference between pure risk life insurance and loan insurance policies.
Päivi Turunen, Market Supervisor, Financial Supervisory Authority
4.10.
Inflation, deflation, foreign exchange rates and interest rates – the basics of the monetary economy, part I
The characteristics and statistical concepts of money. Monetary and exchange rate systems.
Why is inflation a hindrance? Is deflation an even more problematic monster? Short and long-term interest rates. Real interest rates. The connection between foreign exchange rates and interest rates. The tasks of the central bank and the basics of money. Money supply and the money multiplier process. Taxation on money.
Hanna Freystätter, Economist, Bank of Finland
10.5.
Index -linked bonds, mutual funds or unit-linked insurance - what shall I invest in?
Comparison of the key features of investment products. Where can I obtain information on investment products? What should I pay attention to in my choice of investment product?
Paula Kirppu, Market Supervisor, Financial Supervisory Authority
26.4.
How are decisions on monetary policy taken?
Erkki Liikanen, Governor, Bank of Finland
29.3.
What is the aim of monetary policy?
Monetary policy objectives
Seppo Honkapohja, Member of the Board, Bank of Finland
15.3.
New European financial supervisors take over – what will change?
Anneli Tuominen, Director General, Financial Supervisory Authority
15.2.
Why and how does the government obtain debt?
Funding government expenses
Mika Arola, Deputy Director, State Treasury
Lectures in 2010
23 November 2010
Financial markets. Banks and other financial institutions and stock exchange activities – the basics of the monetary economy, Part II
Functions and structure of financial markets. Lending and financing from markets. Debt and shares. Primary and secondary markets. Financial institutions. Why should banks and insurance companies be supervised?
Helinä Laakkonen, Economist, Bank of Finland
16 November 2010
The Single Euro Payments Area (SEPA)
How will the modes of payment change and develop?
Päivi Heikkinen, Head of Office, Bank of Finland
2 November 2010
Should I invest in index-linked bonds, mutual funds or unit-linked insurance?
Comparing the characteristics of different investment products. Where can I obtain information on investment products? What matters should I pay attention to in making my choice?
Tero Oikarinen and Johanna Örndahl, Market Experts, FIN-FSA
26 October 2010
Inflation, deflation, foreign exchange rates and interest rates – the basics of the monetary economy, Part I
Characteristics and statistical concepts of money. Monetary and exchange rate systems. Why is inflation detrimental? Is deflation an even more problematic monster? Short and long-term interest rates. Real interest rates. The connection between foreign exchange rates and interest rates. The tasks of the central bank and the basics of money. Money supply and the money multiplier process. Taxing money.
Hanna Freystätter, Economist, Bank of Finland
12 October 2010
Do you know the risks attached to your housing loan?
Borrowers’ and banks’ exposure to housing loan risks.
What are the risks right now?
What should be kept in mind in choosing a reference rate?
How can mortgage holders protect themselves against risks?
Peter Palmroos, Researcher, FIN-FSA
27 April 2010
What kind of protection do investors need?
Jarmo Parkkonen, Head of Department, Financial Supervisory Authority
20 April 2010
Topical issues on the economy and financial markets
Erkki Liikanen, Governor, Bank of Finland
13 April 2010
Current economic outlook for the Finnish financial sector
The financial sector in light of recent data
Sampo Alhonsuo, Chief Analyst, Financial Supervisory Authority
16 March 2010
Moral hazard and financial markets
What can we learn from the financial crisis?
Jukka Vauhkonen, Economist, Bank of Finland
9 March 2010
IMF – ogre or saviour?
The expanding role of the International Monetary Fund in the global economy
Olli-Pekka Lehmussaari, Adviser to the Board, Bank of Finland
9 February 2010
How to read news about monetary policy
Communication as an instrument of monetary policy
Mika Pösö, Head of Communications, Bank of Finland
Lectures in 2009
24 November
Financial markets. Banks and other financial institutions and stock exchange activities – the basics of the monetary economy, Part II
Functions and structure of financial markets. Lending and financing from markets. Debt and shares. Primary and secondary markets. Financial institutions. Why should banks and insurance companies be supervised?
Jukka Vauhkonen, Economist
17 November
FIN-FSA
How does FIN-FSA monitor insurance companies’ risks?
Jukka Vesala, Deputy Director General
10 November
Inflation, deflation, foreign exchange rates and interest rates – the basics of the monetary economy, Part I
Characteristics and statistical concepts of money. Monetary and exchange rate systems. Why is inflation a nuisance? Is deflation an even more problematic monster? Short and long-term interest rates. Real interest rates. The connection between foreign exchange rates and interest rates. The tasks of the central bank and the basics of money. Money supply and the money multiplier process. Taxing money.
Markus Haavio, Economist
27 October
The role of devaluations in Finland’s structural transformation
Pentti Forsman, Economist
6 October
FIN-FSA
Objectives and tasks
Anneli Tuominen, Director General
26 May 2009
Counterfeiting the euro and other monetary crimes
Pekka Somerkoski, Legal Affairs, and Banknote Specialist Jussi Kangas, Bank of Finland
21 April 2009
Bank crises tend to follow the same pattern
Sampo Alhonsuo, Economist at the Bank of Finland and Harry Leinonen, Adviser to the Board of the Bank of Finland
7 April 2009
'Red' central bank
The Bank of Finland during the Finnish Civil War (1918)
Antti Kuusterä, History Researcher
Lectures in 2008
9 December 2008
Financial markets. Banks and other financial institutions and stock exchange activities – the basics of the monetary economy, part 2
Functions and structure of financial markets. Lending and market-based finance. Debt and shares. Primary and secondary markets. Financial institutions. Why should banks and insurance companies be supervised?
Economist Pertti Pylkkönen
2 December 2008
Inflation, deflation, foreign exchange rates and interest rates – the basics of the monetary economy, part I
Characteristics and statistical concepts of money. Monetary and exchange rate systems. Why is inflation bad? Is deflation an even worse monster? Short and long-term interest rates. Real interest rates. The connection between foreign exchange rates and interest rates. The tasks of the central bank and the basics of money. Money supply and the money multiplier process. Taxation on money.
Economist Markus Haavio
18 November 2008
Financial markets and growth prospects
Governor Erkki Liikanen
28 October 2008
Gold as an investment
Dealer/market analyst Eija Salavirta
21 October 2008
Why have food prices risen?
Head of Office Veli-Matti Mattila
29 April 2008
Monetary policy research and methods
How does monetary research affect monetary policy?
Seppo Honkapohja, Ph.D. (Pol.Sc.), Member of the Board of the Bank of Finland
22 April 2008
Instant loans and indebtedness
What is the price of an instant loan? Instant loans and debt – is there any reason for concern?
Sampo Alhonsuo, M.Sc. (econ.), Economist at the Bank of Finland
8 April 2008
The gold standard
The gold standard in theory and practice
Juha Tarkka, Ph.D. (Pol.Sc.), Adviser to the Board of the Bank of Finland
1 April 2008
The Single Euro Payments Area (SEPA) from the point of view of the citizens
Towards an integrated payments area in Europe. What will change?
Harry Leinonen, M.Sc., Adviser to the Board of the Bank of Finland
25 March 2008
Eurosystem monetary policy
How does the Eurosystem work? How is monetary policy carried out in practice?
Mikko Spolander, Lic.Sc. (Econ.), Economist at the Bank of Finland
Lectures in 2007
27 November 2007
Financial markets. Banks and other financial institutions and stock exchange activities – the basics of the monetary economy, part 2
Functions and structure of financial markets. Lending and financing from markets. Debt and shares. Primary and secondary markets. Financial institutions. Why should banks and insurance companies be supervised?
Pertti Pylkkönen, M.Soc.Sc., Economist
20 November 2007
Inflation, deflation, foreign exchange rates and interest rates – the basics of the monetary economy, part I
Characteristics and statistical concepts of money. Monetary and exchange rate systems. Why is inflation a hindrance? Is deflation an even more problematic monster? Short and long-term interest rates. Real interest rates. The connection between foreign exchange rates and interest rates. The tasks of the central bank and the basics of money. Money supply and the money multiplier process. Taxation on money.
Lauri Kajanoja, Ph.D., Head of Division
13 November 2007
Turbulence in the money and financial markets
What is it all about?
Jouni Timonen, Head Dealer, M.Sc. (Econ.)
6 November 2007
Developments in capital markets
Stock exchanges are merging. How does this affect Finland?
Pentti Hakkarainen, Member of the Bank of Finland Board
30 October 2007
The money markets this autumn, ECB and the Bank of Finland
Erkki Liikanen, Governor of the Bank of Finland
2 October 2007
The architect Ludwig Bohnstedt
Presentation of the Bank's main building and other works by architect Ludwig Bohnstedt
Vilhelm Helander, Architect
10 April 2007
Why were banknotes cut in half?
Cutting up Finland's banknotes, 1945–46
Professor Matti Virén
27 March 2007
Do we have to accept cent coins?
A look at legislation concerning money
Pekka Somerkoski, Legal Affairs, Bank of Finland
13 March 2007
Did the euro cause prices to rise?
The real and perceived change in prices.
Samu Kurri, Economist
27 February 2007
The Bank of Finland and the European Central Bank - servant or master?
Division of labour and tasks of the euro area's monetary policy.
Jukka Ahonen, Communication specialist
6 February 2007
What does banking advertising tell us?
Introductory presentation on the new seasonal exhibition.
Antti Kuusterä, History researcher and university lecturer
Lectures in 2006
21 November 2006
Financial markets. Banks and other financial institutions and stock exchange activities – the basics of the monetary economy, part 2
Functions and structure of financial markets. Lending and financing from markets. Debt and shares. Primary and secondary markets. Financial institutions. Why should banks and insurance companies be supervised?
Pertti Pylkkönen, M.Soc. Sc., Economist
7 November 2006
Inflation, deflation, foreign exchange rates and interest rates – the basics of the monetary economy, part 1
Money-related characteristics and statistical concepts. Monetary policy and economic policy. Why is inflation a hindrance? Is deflation an even more problematic monster? Short and long-term interest rates. Real interest rates. The connection between foreign exchange rates and interest rates. The tasks of the central bank and the basics of money. Monetary supply and the money multiplier process. Taxation on money.
Lauri Kajanoja, Ph.D., Head of Office
31 October 2006
The nature of money
Antti Heinonen, Director, Banknotes, European Central Bank
24 October 2006
Changes in J. V. Snellman’s views on monetary policy from the 1850s to the 1870s
Juha Tarkka, Ph.D., Adviser to the Board of the Bank of Finland
10 October 2006
JV Snellman and Henrik Borgström Jr. – the wrangle over monetary policy
Antti Kuusterä, Banking Historian
26 September 2006
Money in Finnish literature
Hannu Raittila, Author
16 May 2006
The birth of the Finnish markka and J. V. Snellman
Juha Tarkka, Adviser to the Board of the Bank of Finland
2 May 2006
Key aspects of J. V. Snellman's economic policy thinking
Antti Kuusterä, Banking Historian
18 April 2006
International Monetary Fund
Future challenges and developing countries' debt burden
Olli-Pekka Lehmussaari, Adviser to the Board of the Bank of Finland
21 March 2006
Penniless dreamer
The role of money in Finnish popular music from the 1920s to the 21st century
Maarit Niiniluoto, Novelist
21 February 2006
Tasks and functions of the Eurosystem
Jukka Ahonen, Senior Press Officer, European Central Bank
Lectures in 2005
13 December 2005
Financial markets and banks - the basics of the monetary economy, part 2
Loans - one of society's great inventions. The tasks and structures of the financial markets. Direct and indirect financing. Debt and shares. Primary and secondary markets. Brokers, dealers etc. Financial institutions. The idea of a bank and a simplified balance sheet. Why should banks be supervised?
Esa Jokivuolle, Ph.D., Research Supervisor
22 November 2005
Inflation, deflation, foreign exchange rates and interest rates - the basics of monetary economy, part 1
Money-related characteristics and statistical concepts. Monetary policy and economic policy. Why is inflation a hindrance? Is deflation an even more problematic monster? Short and long-term interest rates. Real interest rates. The connection between foreign exchange rates and interest rates. The tasks of the central bank and the basics of money. Monetary supply and the money multiplier process. Taxation on money.
Lauri Kajanoja, Ph.D., Economist
15 November 2005
Money in the Finnish cinema
The role of money has played in the Finnish cinema throughout ages.
Peter von Bagh, Professor and cinema historian
8 November 2005
His Terribleness von Haartman in the history of Finland
Lars Gabriel von Haartman (1789–1859) was the leading economic politician in Finland in the first half of the 19th century. He held various high offices in St. Petersburg and Finland. Later generations remember von Haartman as ‘Hopea-Lassi’ (‘Silver Lassi’) due to his input in the Currency Realisation of 1840.
Kristiina Kalleinen, university lecturer, Ph.D.
11 October 2005
The life of Anders Chydenius
Anders Chydenius (1729–1803) was a Finnish priest, delegate to the Diet as well as a prolific writher on monetary policy issues. His most important work is his pioneering work The National Gain (1765). Chydenius promoted free trade and participated in the monetary policy discussions of his time.
Professor Pentti Virrankoski
17 May 2005
Banking crisis
Problems related to bank strategy and risk management, and the implications of capital movement liberalisation
Liisa Halme, M.Sc. (Econ.), LL.D., Head of Unit
10 May 2005
The Financial Supervision Authority
How are banks and other financial institutions supervised?
Jukka Vesala, D.Sc. (Econ.), Deputy Director General
3 May 2005
International Monetary Fund
What is the International Monetary Fund? The division of responsibilities between the Fund and the World Bank
Olli-Pekka Lehmussaari, M.A. (Soc. Sc.), Adviser to the Board
12 April 2005
How do central banks operate in financial markets?
Why do central banks hold foreign reserves?
Pentti Pikkarainen, Ph.D., Head of Department
15 March 2005
Integrating financial markets - citizens' new opportunities
Financial markets are becoming more international and services more diversified. What is the role of domestic financial market participants in the future?
Heikki Koskenkylä, Ph.D., Head of Financial Markets Department
1 March 2005
Developing the Monetary Union - experiences of Frankfurt and Helsinki
Sinikka Salo, Ph.D., Member of the Board
8 February 2005
The ECB through the eyes of a new participant
Influencing the monetary policy of the Eurosystem at a practical level. Current monetary policy institutions viewed from the insider's perspective.
Erkki Liikanen, Governor of the Bank of Finland
25 January 2005
Decision-making in the ECB and the Eurosystem
Preparatory work and the decision-making in the Eurosystem and the role of the Bank of Finland.
Kjell Peter Söderlund, Reader in Political Sciences, Head of International Secretariat
11 January 2005
What is it like to draw banknotes? A graphic designer's perspective
A secret, honorary duty and what all it covers.
Erik Bruun, Graphic Designer, one of the designers of last markka banknotes
Lectures in 2004
7 December 2004
Why did the markka never become a hard currency? Finnish monetary policy 1945-1999
A shackled currency. Inflation expectations. Fixed foreign exchange rates and the problems of deregulated capital movements. The road to a monetary union.
Antti Suvanto, Ph.D., Head of Economics
23 November 2004
Development of monetary policy thinking
Old and new theories. Inflation expectations. Rational expectations. Central bank promises and credibility. The central bank's objectives and opportunities to exert influence. The differences between euro area and US monetary policies.
Juha Tarkka, Ph.D., Head of Research
9 November 2004
Money markets and banks - the basics of the monetary economy, part 2 Loans - one of society's great inventions. The tasks and structures of the financial markets. Direct and indirect financing. Debt and shares. Primary and secondary markets. Brokers, dealers etc. Financial institutions. The idea of a bank and a simplified balance sheet. Why should banks be supervised?
Esa Jokivuolle, Ph.D., Project Supervisor
26 October 2004
Inflation, deflation, foreign exchange rates and interest rates - the basics of monetary economy, part 1
Money-related characteristics and statistical concepts. Monetary policy and economic policy. Why is inflation a hindrance? Is deflation an even more problematic monster? Short and long-term interest rates. Real interest rates. The connection between foreign exchange rates and interest rates. The tasks of the central bank and the basics of money. Monetary supply and the money multiplier process. Taxation on money.
Lauri Kajanoja, Ph.D., Economist
12 October 2004
Cattle, gold, paper and bytes - a brief history and future vision of money
The history of monetary instruments, with reference to various monetary systems. Future visions of payment systems. Will banknotes and coins be a thing of the past?
The lecture will last until 7.30 p.m.
Tuukka Talvio Ph.D., curator of the Coin Cabinet at the National Museum of Finland
Harry Leinonen, M.Sc. (Econ), Advisor to the Board
For further information, please contact Mr Jaakko Koskentola, Curator of the Bank of Finland Museum, tel: +358 10 831 2981.
