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Collaboration Circle "Strengthening Financial Literacy: The Challenges That Lie Ahead"

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Dates:

  • 26th of November 2026, 13:30 – 15:00 CET
  • 3rd of December 2026, 13:30 – 15:00 CET
  • 10th of December 2026, 13:30 – 15:00 CET

Location: Online

Application Deadline: 20th October 2026, 16:00 CET 

About the Activity

The ENGAGE.EU Collaboration Circle is a series of three online workshops designed to identify the most relevant research questions linked to a specific societal challenge. Participants include students, researchers, academic staff, and external partners, who work in international and multidisciplinary teams and bring diverse backgrounds, perspectives, and insights. Through this collaborative process, participants collectively map existing gaps in the topic and formulate the research questions needed to address them.

The activity is conducted in a focus group format, which provides an open and inclusive environment where participants can exchange views, explore the topic from multiple angles, and contribute meaningfully to the discussion. Each session is carefully structured to guide participants through the analysis of the current state of the art, the identification of gaps and challenges related to the topic, the testing of the relevance of the proposed research questions, and the selection of the most meaningful question to be developed in future activities.

The ENGAGE.EU Collaboration Circles are organized within a framework of activities, named Impact Pathway, and the outcomes of both activities will serve as the foundation for Expedition+ on Financial Literacy in Spring 2027 in Vienna, Austria.

Activity Overview

The Collaboration Circle takes participants on a guided journey from understanding the challenge to formulating a focused and actionable research question. The process unfolds across three online sessions:

  • Session 1: Opening and Framing the Dialogue

Participants briefly introduce themselves, outlining their interest in the topic and any relevant experience. The main theme and its subtopics are presented to offer a shared frame of reference. Participants are then invited to share their perspectives, allowing the group to map different viewpoints and gather initial insights for subsequent exploration.

  • Session 2: Identifying Needs, Challenges, and Problem Definition

This session focuses on identifying the core needs and challenges linked to the topic. Through a structured Needs Assessment, participants explore guiding questions, cluster emerging issues into broader themes, and identify recurring patterns. The group then prioritizes the most pressing needs – based on urgency, impact, and feasibility – resulting in a shortlist of up to three key challenges.

  • Session 3: Formulating and Finalizing Research Questions

Participants transform the prioritized needs into clear, actionable research questions. After an introduction to the Question Formulation Technique, they generate, refine, and select the final research questions that will be carried forward to the Expedition+.

About the Challenge

Financial literacy is an important life skill. Understanding personal finances, budgeting, saving efficiently, and investing can empower people to make more informed and confident financial choices and future life goals.

According to the 2023 Eurobarometer survey, only 18% of EU citizens display a high level of financial literacy, 64% a medium level, and 18% a low level. Financial literacy is low in general, but even more so for women, highlighting the gender gap in financial knowledge and understanding personal finances. This issue has pushed financial literacy awareness up the EU and national policy agendas. In September 2025, the European Commission adopted its EU Financial Literacy Strategy, aiming to enhance necessary financial skills and knowledge among European citizens, to make informed financial choices and to contribute to economic stability. The strategy also highlights the need for initiatives for specific target groups like women, youth, older people, people with lower income and lower general education. In Austria, the Federal Ministry of Finance (BMF), together with the European Commission and the OECD, developed the Austrian National Financial Literacy Strategy in 2021. Alongside the BMF, other public institutions and agencies, contribute to financial education efforts through digital platforms, information material, podcasts and financial knowledge content in social media channels. Beyond public authorities, many companies and civil-society organizations contribute to financial literacy through online teaching material, programs, courses and user-friendly digital products.

Financial literacy has therefore become an important and growing research area too. Despite numerous national initiatives, evaluation results and research findings, financial literacy is still in the early stages when it comes to many questions, such as: How can effective financial literacy be guaranteed for all? How can different target groups be reached effectively? How can financial inclusion be promoted, and what do vulnerable groups need?

In the Collaboration Circle, we will have the opportunity to discuss, select and refine these and other questions, together with representatives from the Austrian Federal Ministry of Finance (BMF), startups with specific product solutions on improving financial literacy, and other stakeholders in the field.

For further information, please contact: rina.gjana@wu.ac.at 

Expected Impact

  • Master’s Students
    • Gain new and complementary skills
    • Collect deeper insights of academic work methodologies
    • Experience a diverse and international setting
  • PhD Candidates, Researchers, and Faculty
    • Identify research gaps and formulate relevant research questions, while expanding and joining existing research networks;
    • Explore new problem-solving approaches and create a testing ground (sandbox);
    • Generate impact and contribute to third mission strategies.
  • External Partners
    • Promote lifelong learning activities among employees
    • Co-create evidence-based research agenda
    • Experiment new solutions from new angles
    • Network with other partners at the international and European level

Application Requirements

Your Profile: The ENGAGE.EU Collaboration Circle is targeted at master’s students, lifelong learners, doctoral and PhD candidates, researchers at any career stage, and administrative staff affiliated with ENGAGE.EU universities. Participants of any citizenship and any field of study who are enrolled in and affiliated with an ENGAGE.EU partner university are welcome to apply.

Application:

To apply for the ENGAGE.EU Collaboration Circle you should provide:

  • A short letter (max. 300 words) explaining your motivation for applying to the activity and your interest in the topic.
  • Curriculum vitae (education, work experience, language skills, study/work abroad experiences, and any other relevant skills).

All documents must be submitted in English, in PDF format.

Selection:

Submitted applications are evaluated by the academic and management staff of the ENGAGE.EU Labs. Candidates will be evaluated based on their motivation letter and CV. To ensure equal participation, the selection committee will aim at choosing three participants from each partner university. Final decisions also consider a range of criteria for cohort composition, including but not limited to disciplinary balance, institutional diversity, and demographic diversity.

Additional details

Applications must be submitted by October 20th, 2026, at 16:00 CET.

The results will be communicated to selected participants by 27th October 2026. Selected participants will have 3 working days to accept their spot.

Application Procedure:

Below you can find the link that will redirect you to the eJourney platform. Please select your university and use your usual university credentials to log into eJourney and access the application form.

APPLY HERE

Disclaimer 1: The calendar of the ENGAGE.EU Collaboration Circle might be incompatible with some academic calendars of Erasmus, Exchange Partners, Double Degree or other mobility programs. Students interested in both programs are urged to check academic calendars accordingly. 

Disclaimer 2: Your email address will be used to manage and facilitate your participation in the educational and/or extracurricular activities organized by the University.