10 Lei Academy of High Commercial and Industrial Studies

Issued to mark the centenary of the Academy of Economic Studies in Bucharest — founded in 1913 as the Academy of High Commercial and Industrial Studies, the first institution of higher economic education in Romania. The school's establishment was part of a broader push by the Romanian state to develop domestic commercial expertise at a moment when the country was rapidly industrializing ahead of the Balkan Wars and, shortly after, the First World War.