Onsite Internship Story: Yevhenii Skok (ECBS '20)
Name of intern: Yevhenii Skok
CEU department and program: Department of Economics and Business, MA in Economics
Year of graduation: 2020
Name of internship host organization: National Bank of Slovakia
Name of unit at organization: Research Division
What did you do during your internship? Can you describe a typical day in the office?
I participated in a research project related to the monetary policy communication of the European Central Bank, focusing on estimating the effects of how central bankers communicate about interest and exchange rates as well as the stock market. My typical day in the office was similar compared to a routine day of a central bank researcher. In addition to doing research and actively interacting with other researchers and interns, I participated in regular research seminars conducted by the department where I worked. One of my tasks was coding data, which was time consuming, and I would often work on this after the work-day finished.
I collaborated closely with my supervisor, who is a wise person and a real professional. I was enormously lucky with him and we worked together very well during the internship. At the end of my internship, we presented the results of our research to the Bank’s Research Department.
How did the internship help you implement your knowledge gained at CEU and/or your previous experience?
This internship fit perfectly with my previous experience with the National Bank of Ukraine and with the knowledge I have acquired at CEU. I combined my experience in the field of monetary policy with knowledge obtained at CEU, especially in the fields of econometrics and macroeconomics. In terms of econometrics, I worked in Stata, applying OLS and quantile regressions, which I studied during the first year of my program at CEU.
How will this internship help you in your career?
This internship enabled me to improve my analytical and quantitative skills. I became more familiar with the specifics of monetary policies in the euro zone, the way those policies are communicated and the responses of financial markets. I think that this practicum gave me an outstanding foundation for my further research at CEU and increased my determination to pursue a PhD in Economics. In addition, I have found a research topic which I really love, as well as the corresponding data for it. I continue to collaborate with my internship supervisor on the same project I worked on during my internship. In the foreseeable future, results of this work should form the basis of my master’s thesis.
How did you find this internship?
My friend knew about my scientific interests and experience and told me about this internship opportunity. She also put me in touch with the institution. I am very grateful to her for this because it definitely made a difference in my life.
Do you have advice for current students regarding internships?
I would encourage students to take the opportunity to do an internship. This is a chance not only to experience something new, but also to find out whether you like a particular type of work. For example, when I was younger, I dreamed of working in the tax service. When I was doing my first master’s, I did an internship. It turned out that the work there did not fit my expectations, and I continued to search for what I would like to do professionally. In fact, an internship can open many doors. For example, it enables you to meet new people and establish good contacts, find a topic and data for your research, or give you an opportunity for future work. An internship can also be a time for rapid personal development. I strongly recommend that students complete an internship, even if it is not compulsory.