Study Abroad: My Experience in Europe
By Tracy Nguyen—I always knew I wanted to study abroad during my graduate career. I applied and was accepted to be a part of the University of St. Thomas European study abroad and was extremely elated to find out that I would have the opportunity to travel to London, England; Strasbourg, France; and Frankfurt, Germany. However, in the months leading up to the departure, I was struck with a strange anxiety about leaving home without family by my side, mainly due in part to the recent Paris and Brussels attack.
OUT OF THE COMFORT ZONE
As humans, we often behave like creatures of habit. There is something comforting about knowing what to expect. In our daily lives, we develop a certain level of familiarity or comfort zone. Study abroad programs are designed to challenge you not only academically but on a personal development level as well. Each location along the trip provided learning opportunities ranging from differences in governmental structure/function to the operation of international financial institutions.
LONDON, ENGLAND
Some of the places we visited while we were in London were the Houses of Parliament, the Coronation Church, Embassy of the United States of America, and Lloyd’s of London.
While touring the Houses of Parliament, I could not help but reflect on the differences between Britain’s and the United States’ government, or rather the House of Parliament versus our country’s House of Representative. Britain has a parliamentary form of government, which implies that the cabinet is responsible to the House of Commons. It can remain in office as long as it enjoys the support of the majority of the House of Commons. On the other hand, the United States has a presidential form of government, which implies that the government is based on the doctrine of “Separation of Powers.” Another interesting fact disclosed to us regarding was the existence of an “evolving” Constitution. The U.S. House of Representatives cannot amend the constitution itself. In the U.S., we can only propose amendments to the constitution and no constitutional proposal is valid unless it is approved by the Senate.
STRASBOURG, FRANCE
In Strasbourg, we toured the Cathédrale Notre-Dame, European Parliament, KPMG, EM Strasbourg School of Business, and Caisse d’Épargne.
The European Parliament (EP), the only directly elected EU body, represents the EU’s 507 million inhabitants and plays a key role in electing the president of the European Commission (EC). The EP shares power over the EU budget and legislation with the Council of the EU. Therefore, from the tour, it is my understanding that the EP serves as the voice and representation of the States. To aid in legislation, the EP passes EU laws, together with the Council of the EU, based on EC proposals. The EP also decides on international agreements and reviews the EC’s work program by asking it to propose legislation. However, Parliament has no power to initiate legislation, as this power remains with the EC. Co-decision, however, has allowed the Parliament to have a major impact on European decision-making and to push through much stricter legislations. The EP oversees and scrutinizes EU institutions. In addition, the EP examines the EU citizens’ petitions and inquiries, discusses monetary policies with the European Central Bank (ECB) and observes/oversees elections. The Parliament has joint control with the EC over the budget and how the budget is spent.
FRANKFURT, GERMANY
Frankfurt was our last location for the study abroad. We visited places such as BaFin, German Stock Exchange, and KfW Bankengruppe.
Although visitors tend to overlook or pass up Frankfurt during their visits to Germany, the city is a unique and vibrant city. While Frankfurt, bombed in WWII, is stripped on most of its Old World charm, it took the opportunity to rebuild and is considered, today, as the trade and banking capital of Germany. With it considerable amount of skyscrapers suspended on the banks of the Main River, Frankfurt has been dubbed as Germany’s “Manhattan.”
Carsten Klug, City of Frankfurt Representative and Researcher on Structural Policy, enlightened us with evidence of Frankfurt’s development and the role of banking initiatives. Frankfurt is one of the most desirable cities to live in and visit. It is estimated that there are 180 different nationalities living in Frankfurt and one in three people there do not hold a German passport. Did you know that Frankfurt is home to the third largest airport in Europe and the thirteenth busiest airport worldwide, with an average of 61 million passengers in 2015 and 59 million passengers in 2014?
Every year, the city hosts over 30 industrial expos and fairs. The city hosted 46 trade fairs and 73,163 conventions, with over 41,000 exhibitors in 2015. The largest automobile, publishing (book) and music industry shows, which attract millions of people, are all held there.
Following Mr. Klug’s presentation, I became even more impressed with Frankfurt. The city was a commercial center, holding annual fairs and attracting merchants from across Europe, very long ago. This proves that Frankfurt’s business side is deeply rooted in the area’s culture.
CONCLUSION
Although I could continue to write about my visit in each city in detail, it simply would not do the experiences justice. Think of it this way – Would you rather read about my impressions or experience them first-hand?
Everyone told me that studying abroad would change my life, but I always wondered would it really make such an impact that it would “change my life?” I could not possibly understand such a statement until I experienced it first-hand, and studying abroad, without a doubt, changed my life. In retrospect, I wish I could have given myself this advice: you will not know until you go! But I am so glad I did.
Traveling can be something as simple as bicycling through Strasbourg, France or spending a weekend at a castle with your new best friends. The trip was only two weeks, but traveling is not defined by time. Rather, traveling is defined by the richness of your experience.
I feel very fortunate to have studied abroad and only hope you will take the same leap of faith. I encourage YOU to travel. However, I not only encourage you to travel, I encourage you to study abroad.
Now, it’s your turn. Therefore, my question to you is, where will you go to study abroad?
University of St. Thomas, BBA/MBA Finance – Cameron School of Business (2017)