Understanding Saving in Europe Erasmus Project

Project Title

Understanding Saving in Europe

Project Key Action

This project related with these key action: Cooperation for innovation and the exchange of good practices

Project Action Type

This project related with this action type : Strategic Partnerships for higher education

Project Call Year

This project’s Call Year is 2019

Project Topics

This project is related with these Project Topics: Open and distance learning; Key Competences (incl. mathematics and literacy) – basic skills; Economic and financial affairs (incl. funding issues)

Project Summary

In the light of changing demographics and the prolonged low-interest rate environment, long-term saving decisions by individuals become increasingly important. Saving optimally over one’s life-cycle requires knowledge and competencies that many people have never acquired, yet everyone has to make these decisions for himself. Aside from basic financial knowledge, such as time value of money or the interplay between risk and return, life-cycle saving and investment decisions require additional concepts and considerations, such as human capital, decisions regarding housing (rent or buy), inflation and how to protect your wealth against it or the impact of certain risks (e.g. occupational disability) and how to protect against such risks, to name just a few important examples.

The project “Understanding Saving in Europe (USAVE)” develops online courses, which allow participants from two different target groups to acquire the necessary knowledge and competencies in the field of life-cycle saving and investment. One course is targeted at the general public, and requires no specific prior knowledge. The other online course is targeted at students of finance, economics, or related disciplines at higher education institutions. Both courses can be taken free of charge, whenever participants have the time to do so, at the participants’ own pace. Both courses will be supplemented by online software applications, which can be used to carry out calculations without the need to spend a lot of time on understanding the formulas in the background (course 1, targeted at the general public), or the need to spend a lot of time on coding (course 2, targeted at students).

The main goals of both courses are to improve the participants’ understanding of long-term personal finance decisions and to equip them with the competencies that are necessary to set up and periodically revise/improve their own life-cycle financial planning. The second course (targeted at students) digs deeper and discusses also the theoretical underpinnings, methods, and formulas behind the concepts and online apps provided.

Project Website

http://www.pensionsineurope.uni.li

EU Grant (Eur)

Funding of the project from EU: 289281 Eur

Project Coordinator

UNIVERSITAT LIECHTENSTEIN & Country: LI

Project Partners

• LIBERA UNIVERSITA DI BOLZANO
• Alguru IVS