When people hear “Bank for International Settlements” (BIS), they often imagine a secretive, abstract institution that only economists and politicians understand. But yesterday, three of our students had the chance to walk through its doors here in Basel — and they discovered that this quiet institution is one of the most important players in the global economy.
We learned what the BIS Really Does
The BIS is sometimes called “the central bank of central banks.” It doesn’t print money or set policy for one country. Instead, it:
- Brings together central bankers from around the world to coordinate policies.
- Tracks and manages issues like inflation, money supply, and interest rates.
- Oversees exchange rate stability and international reserves.
- Sets global rules for banks (the well-known Basel Standards).
- Publishes research and data that shape decisions far beyond Switzerland.
In short: if the global financial system were an orchestra, the BIS would be the conductor making sure everyone plays in time.
Why This Matters for Our Students
For our business students, visiting the BIS isn’t about being dazzled by marble lobbies and international flags (though those were impressive too). It’s about understanding how decisions made in Basel ripple outward — affecting everything from mortgage rates in the US, to trade flows in Asia, to the strength of the Swiss franc.
This kind of perspective changes the way students think about business. A lecture on exchange rates becomes more than a graph on a whiteboard; it becomes a lived experience of how global policy works in practice. Sitting in on a presentation at the BIS, our students were able to connect the dots between their coursework and the real-world forces that drive business, trade, and investment.
Practical Experiential Learning™ in Action
This is exactly what Practical Experiential Learning™ (PEL) is about. Instead of memorizing terms for a test, our students:
- Step into the spaces where real decisions are made.
- See how theories play out in live environments.
- Build the confidence to ask questions and imagine their place in global business.
The BIS visit reminded all of us that business education isn’t just about preparing for the next exam — it’s about preparing for the world.
0 Comments