Exploring Large Language Models

Enhancing Economic Education and Reshaping Practices in NBC

Forthcoming short training offered to the Institute of Banking Studies of Cambodia - July 18, 2025

Prof. Murat Yildizoglu University of Bordeaux. Bordeaux School of Economics (UMR CNRS-INRAE 6060).

Institute of Banking Studies - Cambodia

The Institute of Banking Studies (IBS) is a specialized educational institution focused on developing skilled professionals for Cambodia's banking and financial sectors. Established to meet the growing demand for expertise in the rapidly evolving Cambodian economy, the institute offers certifications, training and bachelor's programs, and workshops in areas such as banking operations, risk management, financial analysis, and regulatory compliance.

The aim of this small (3 hours) presentation

Explore and demonstrate the capabilities and implications of Large Language Models (LLMs) and their potential to significantly impact both academic and professional work, particularly within the context of economics and central banking.

It emphasizes practical applications (through prompt examples), ethical considerations, and potential future developments.

Imagine being able to draft a summary of the latest IMF report on ASEAN financial stability in under 5 minutes, or generate three distinct essay questions for your 'Central Banking, Monetary Policy, & Financial Stability' course, complete with model answer outlines, in the time it takes to drink your coffee.

Outline of the presentation

  • Part 1: The Dawn of a New Era
    • Demystifying LLMs
    • The Art of the Prompt - Unlocking LLMs' Power
    • Live Demo 1: Basic Prompting & Iteration
  • Part 2: LLMs at your Service
    • LLMs as Your Teaching Assistant
      • Content Creation & Curation - 2
      • Assessment & Feedback
      • Drafting Model Answers
      • Providing Initial Feedback
      • Interactive Learning
      • Live Demo 2: Designing assignments for a course
    • LLMs in the Central Banker’s Toolkit
      • Research and analysis
      • Accessing updated data
      • Research & Analysis (cont.)
      • Research & Analysis (cont.)
      • Communication & Reporting
      • Communication & Reporting (cont.)
      • Live Demo 3: Auditing Application
  • Part 3: Future and Limits of LLMs
    • The Emerging Power of AI Agents
    • Agents in their environment
    • Potential applications of LLM Agents in Economics & Finance
    • Opportunities, Risks, and Ethical Considerations
    • JPMorgan Chase: Rationale for the internal LLM Suite
    • Perspectives for the NBC
    • Embracing the Journey and Q&A

An audio overview of the presentation

This short podcast is prepared by NotebookLM (by Google) and it summarizes the main components of this presentation.

An audio overview of the NBC activity over 2018-2023

I prepared this longer podcast with NotebookLM (by Google) to summarize recent activity of the NBC over the period 2018-2023. It is based on the annual reports of the NBC over the same period.

Deep dive

I created a more advanced course on this topic for the Master's program in Economic and Financial Engineering at the University of Bordeaux. You can consult it on this webpage.

Outline of the Master's course

  1. Chapter 1: An introduction to the principles of LLMs
  2. Chapter 2: Presentation of the main LLMs
  3. Principles of prompts and prompt engineering
    • Chapter 3: Talking to LLms: A prompting primer
    • Chapter 4: Prompting strategies and approaches with applications
  4. Applications in learning, research, and business
    • Chapter 5: Learning with LLMs
    • Chapter 6: AI Agents: Transforming Economics and Beyond
    • Chapter 7: Applications in Economics and Finance