In its third collaboration, Oxford University’s Professor Michael McMahon and EBC Financial Group’s David Barrett explore how to bridge the global financial literacy gap in open-access webinar on 11 November
EBC Financial Group (EBC) and the University of Oxford's Department of Economics announce the latest episode of "What Economists Really Do" (WERD) webinar series. The upcoming webinar, "Think Like an Economist: Financial Literacy and Economic Understanding in an Age of Complexity," will take place on Tuesday, 11 November 2025, at 12:00 PM GMT.
This third collaboration builds on previous sessions examining tax evasion and climate economics, and will feature Professor Michael McMahon of the University of Oxford, David Barrett CEO of EBC Financial Group (UK) Ltd, and moderator Professor Banu Demir Pakel.
Why Economic Literacy Matters Now
In today's complex economic landscape, understanding financial principles is critical for informed decision-making. As OECD’s report found, 66% of adults in member countries lack basic financial literacy. Financial literacy - the ability to manage money, plan ahead, and make informed choices - remains low in advanced economies. Even in developed economies like the UK, a recent study found that 39% of adults lack confidence managing money. This discussion will address why households and experts think differently about economic systems, which teaching interventions work, and how central banks and policymakers can communicate more effectively.
The discussion will introduce the "Three Es" framework - Explanation, Engagement, and Education - offering practical pathways to stronger economic understanding. By combining Professor McMahon's cutting-edge research (in behavioural economics and central bank communication), with David Barrett's real-world insights from serving clients across global markets, the panel bridges academic rigor and industry practice.
"Markets right now feel bulletproof. Despite the random, out-of-the-blue shocks we've seen this year, they've learnt to look through the noise. But most participants are confusing access to data with actual comprehension. Rules-based trading removes personal bias from execution, but it doesn't eliminate the need for economic understanding. You can have AI generate a hundred trade signals, but if you don't understand the forces behind tariff impacts or central bank pivots, you're just following patterns without the full picture. That's not literacy; that's dependency. Our partnership with Oxford addresses this: bringing the foundational economic thinking that transforms information into genuine understanding."
- David Barrett
"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. This isn't about intelligence. Rather, it is about mental models. This discussion will explore practical ways we can bridge that gap, from how central banks can communicate more clearly to how informal teaching interventions, such as this webinar, can significantly improve economic understanding and forecasting ability.”
- Professor Michael McMahon
About the Panelists
David Barrett is the CEO of EBC Financial Group (UK) Ltd, bringing nearly 40 years of experience in foreign exchange, fixed income, commodities, and CFDs. His career spans leadership roles at AIG, NatWest, Nomura International, and Credit Lyonnais, where he advised on institutional trading, market risk, and financial operations. A widely respected voice in global finance, David's insights on geopolitical risks, monetary policy, and market volatility have been featured in Reuters, Forbes, Financial News, Associated Press, Yahoo! Finance, and numerous international media outlets. He is a returning WERD panelist, having previously discussed "The Economics of Tax Evasion" at the University of Oxford — demonstrating his commitment to bridging practical market expertise with academic discourse on critical issues.
Professor Michael McMahon is Professor of Economics at the University of Oxford, Senior Research Fellow at St Hugh's College, and Director of the Research Policy Network on Central Bank Communication. He previously worked at Warwick University and the Bank of England and serves on the Irish Fiscal Advisory Council. His research on macroeconomics, monetary policy, and central bank communication has been published in top journals including the Quarterly Journal of Economics and Review of Economic Studies.
This webinar is designed for students, finance professionals, policymakers, educators, traders, investors, and anyone seeking to understand economic thinking. The webinar includes interactive Q&A with both panelists.
Register here: https://www.ticketsource.co.uk/department-of-economics-university-of-oxf...
