Eesti Pank held a debate in Pärnu for students to discuss inflation
Eesti Pank and the Estonian Debating Society staged a debate today in the Sütevaka Gümnaasium school in Pärnu, in which school students analysed whether inflation is helpful or harmful for an economy.
Deputy Governor of Eesti Pank Madis Müller said the aim of the debate was to get school pupils to think about and understand how prices are set in an economy and how the central bank maintains the value of money. “People generally don’t like it when prices rise too fast, and the central bank doesn’t like it either. One of the main roles of Eesti Pank is to make sure that money keeps its value and that inflation in the euro area is kept under control”, he explained.
Head of the Pärnu debating club Siim Ruul said that debating is a very important skill that all students should have. “It is unavoidable in life that we all have to justify our ideas, and it is essential that we know how to listen to and think about what others are saying. It is especially important with topics of economics because prices and price rises affect everyday life very directly”, he said. He added that such topics equally demand greater focus and understanding of connections. “Students are often scared of economics topics because it all seems so complicated. Debating with their peers can help them get a clearer understanding of such topics”.
The debate in the Sütevaka Gümnaasium school in Pärnu was introduced by Deputy Governors of Eesti Pank Madis Müller and Ülo Kaasik. They talked about why central banks were first founded and how they set monetary policy and how that affects the public. Arguments about the benefits and drawbacks of inflation were then given by Sütevaka Gümnaasium 12th year pupils Tom Suiste and Kristjan Lossmaa, 11th year Karin Malm, and 9th year pupil Ellinor Sutt.