This article discusses the role of volatility in the context of systemic risk in finance. The main argument is that volatility transmits risks within the financial system and beyond, shaking the financial system and threatening in particular small or vulnerable clients (SMEs, households, and also low‐ and middle‐income countries). In addition, it is argued that volatility‐induced threats result from structural characteristics of the financial markets themselves (reactivity, reflexivity, and recursivity). The article introduces the concept of volatility, and different approaches to understanding risks related to the financial system (e.g., financial analysis, systems analysis). Two cases related to systemic risk are presented. The first concerns the role of volatility in three major financial crises (stock crash 1987, Asian crisis 1996–1997, global banking crisis 2007–2008), documenting that volatility spillovers have become a “new normal.” The second case concerns the moderate reflection of systemic risk within The Journal of Finance (the leading financial journal). The two cases show that volatility plays a role in systemic risks, but that this role has not yet been examined in detail by the scientific community.

This article presents a ten-item short scale for measuring digital competence. The scale is based on the Digital Competence Framework for Citizens, DigComp2.1 (Carretero et al., 2017). For our surveys, we used five items from the DigCompSat study (Clifford et al., 2020) and created five new ones to address the competence areas defined by DigCom2.1. We tested the scale on a sample of 1416 students from four countries (Germany, Lithuania, Austria, UK), using the questionnaire in two languages (English, German). The scale proved to be reliable (Cronbach’s α of 0.87 and McDonald’s ω_tof 0.88) and valid (construct and content validity). Using the scale, we replicated findings from previous studies on differences in digital literacy by gender, study subject, and level of study. Despite the inhomogeneous structure of items from five different competence areas (according to DigComp2.1) and of two different types (specific, general), the scale does not seem to be multifactorial. A detailed analysis of digital competence and undergraduate research in the context of the pandemic shows: digital competence seems to support research competence and may even support inclusion.

Scientific responsibility has changed with the successful professionalization of science. Today, science is a privileged profession, one with a (tacit) management mandate for systematic knowledge acquisition. Within this framework, science acts with responsibility. This chapter reflects the responsibility of science in the German context. After Wold War 2, the extraordinary responsibility of scientists, which C.F. von Weizsäcker emphasized, referred to a specific phase in the institutional development of science, termed scientism (“science justifies society,” science as religion), and corresponded to an elite responsibility. Today, one responsibility of science as a profession is to safeguard and develop scientific standards. This also concerns, on the one hand, the self-organization and control of science as a profession and, on the other hand, the communication of science to society. As a professional scientist, one has two responsibilities, the commitments to good science (professional ethics plus co-responsibility for the development of science as a profession) and civic responsibility. Due to their special knowledge, the civic responsibility of the scientist differs from that of other professionals. This chapter introduces science as a profession and presents an integrative notion of responsibility, also shedding light on the social responsibility of science.

Inquiry-based learning is a didactic principle in higher education that relies on student independence: learning by conducting their own research. The principle of inquiry-based learning is part of the long tradition of education through scholarship (Bildung durch Wissenschaft), which sees academic studies “as participation in scholarship as a never-ending process” (Huber 2009, p. 1, translated). Most institutions of higher learning use the definition of inquiry-based learning developed by Ludwig Huber (2009) as a working definition:

Volunteer work can best be defined as a free, non-profit activity that usually serves the common good. The aspect ofvoluntarinessis essential and distinguishes it from other forms of work. Anyone who speaks of volunteer work is not just talking about individual helping behavior or civic engagement but, indirectly, always also about the national system of gainful employment within which volunteer work takes place and with which it must be compatible.

We report the results on factors for self-protective behavior against weather extremes such as extreme heat events, drought, and heavy precipitation. Our research draws on the Model of Private Proactive Adaptation to Climate Change (MPPACC). We developed a survey instrument incorporating the main aspects of the MPPACC and other factors from related research work that are assumed to explain why some people show self-protective behavior while others do not. The interview survey was conducted with a non-random sample of 210 respondents from three Philippine cities, namely Baguio, Dagupan, and Tuguegarao. The results reveal the importance of adaptation appraisal, including the perceived feasibility of self-protective measures, the perceived adaptation knowledge, and, with limitations, the perception of actions taken by neighbors or friends. We also show that perceptions of past weather trends are closely linked to risk perception but are only partly corroborated by weather station data. Implications for fostering self-protective behavior are making use of time windows right after an extreme weather event and focusing on enhancing adaptation appraisal.