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
Think Like an Economist: Financial Literacy and Economic Understanding in an Age of Complexity.
Oxford University and EBC Financial Group present the next What Economists Really Do webinar: “Think Like an Economist – Financial Literacy and Economic Understanding in an Age of Complexity”, featuring Professor Michael McMahon and David Barrett on 11 November 2025.[/caption]
OXFORD, United Kingdom, Oct. 29, 2025 (GLOBE NEWSWIRE) — EBC Financial Group (EBC) and the University of Oxford’s Department of Economics announce the latest episode of the acclaimed “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 behavioral 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.
“The biggest challenge to financial literacy today is not complexity. Rather, it is complacency. People assume AI and algorithms have thinking covered,” said David Barrett. “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.”
Professor Michael McMahon noted, “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.”
