KUALA LUMPUR, Oct 31 (Bernama) -- EBC Financial Group (EBC) and the University of Oxford’s Department of Economics have announced the next instalment of their acclaimed "What Economists Really Do" (WERD) webinar series.
According to EBC in a statement, the free online webinar, “Think Like an Economist: Financial Literacy and Economic Understanding in an Age of Complexity”, will take place on Nov 11.
This third collaboration builds on previous sessions examining tax evasion and climate economics, and will feature EBC Financial Group (UK) Ltd chief executive officer, David Barrett, University of Oxford Professor Michael McMahon, and moderator Professor Banu Demir Pakel.
Recent Organisation for Economic Co-operation and Development (OECD) findings show 66 per cent of adults lack basic financial literacy, while 39 per cent of UK adults admit to low confidence managing money.
The panel will explore why households and experts interpret economic systems differently and introduce the "Three Es" framework — Explanation, Engagement, and Education—as a pathway to better understanding.
“The biggest challenge to financial literacy today is not complexity; it is complacency. People assume AI and algorithms can handle all aspects of thinking. But without understanding the economic forces behind data, you are following patterns, not gaining insight,” said Barrett.
Meanwhile, Professor McMahon said: "One of the most striking findings in our research is how even highly educated individuals struggle with basic economic concepts that affect their daily financial decisions.”
He added that this webinar will show how simple interventions—like accessible teaching and clearer central bank communication—can make a measurable difference.
Barrett, a veteran of global finance with nearly 40 years’ experience at firms including AIG, NatWest, and Nomura International, is a returning WERD panellist, having previously discussed "The Economics of Tax Evasion". Professor McMahon, a leading researcher in monetary policy and central bank communication, brings academic depth to the conversation.
-- BERNAMA
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