Non-bankers are mostly taken aback when they hear that the Bundesbank has its own institution of higher education which is specialised in central banking topics. It is all the more surprising, therefore, to learn that other countries also have specialised universities offering courses in the financial sector, which cooperate closely with the respective central bank. At a very special higher education institution, the PBC School of Finance at the Tsinghua University in Peking, three Hachenburg professors once again offered a cycle of lectures in English for masters students on “Central Bank Administration” in October 2018. The abbreviation PBC stands for People’s Bank of China, i.e. for the Chinese central bank. During the three-week programme, Lilli Zimmermann held lectures on European economic and monetary policy integration and Oliver Kruse spoke about the supervisory assessment of banks’ business models. Erich Keller’s lectures focused on measures taken by the ECB and banking supervisors during the financial crisis.

Long tradition of cooperation

The Bundesbank's University of Applied Sciences in Hachenburg has been cooperating with the PBC School of Finance at the Tsinghua University in Peking since October 2003. Similar to its German counterpart, the faculty focuses its teaching and research on areas related to central banking – mainly monetary policy, financial markets and supervision – and likewise has around 400 students enrolled. In addition, like Hachenburg, it is a campus university which offers its students board and lodging on site. In contrast to the Bundesbank's University of Applied Sciences, however, it not only provides education for the central bank and bank supervisory authorities, but for other public and private banks, too. Its focus is on master and doctoral degrees, with no bachelor degree programmes on offer.

A student exchange programme has been in place since 2014. Under this arrangement, 20 students from the PBC School of Finance visit a one-week seminar in Hachenburg every year. In return, 10 German students take part in a summer school in Peking for two weeks. In addition, since November 2015, each year professors from the PBC School of Finance have been invited to participate in a one-week course together with German professors in Hachenburg.