This initiative by the RES aims to bring the best communicators in the economics profession into contact with a wide public and to show the importance of top-quality economic research. Aimed principally at sixth form students of Economics but of interest to all, the Annual Public Lectures have become an established part of the senior school calendar.
Professor Timothy Besley delivered the Society's 2008 Annual Public Lecture in London on 18 November and Glasgow on 20 November.
A renowned economist and external member of the Monetary Policy Committee of the Bank of England, Professor Besley discussed the questions lying at the heart of successful monetary policy-making. What causes inflation and what can be done to prevent it? Are institutional arrangements key in shaping the conduct of monetary policy? The lecture selectively considered competing explanations and the lessons for monetary policy that come from our understanding of history. It also discussed lessons from the experience of other countries in controlling inflation.