Finance and International Business Students and their Knowledge of the Euro

Abstract

This abstract was created post-production by the JFI Editorial Board.

The purpose of this study is to ascertain students' knowledge of the Eruo and the Eurozone. A similar-although not identical survey-was administered to students five years ago. In that time period, students did not demonstrate any dramatic differences in their responses. A large number of students did know that the Euro was a new currency in several countries in Western Europe. The results to the question which asked for the current value of the Euro were similar to the survey administered five years ago. Fifty to 69 percent of majors knew that nations would give up the use of their own currencies if they became members of the Eurozone. Less than 50 percent of each major realized that a nation in the Eurozone would give up its own monetary policy. Responses to the European Central Bank being the dominant monetary authority in the Eurozone were somewhat higher than the survey given five years ago. Also, the study suggested that there was no significant difference between the responses of males and females. Finally, when responses were analyzed by OPA and undergraduate vs. graduate status, a significant difference was found.