Young Economist of the Year 2022 competition
in association with the Financial Times

The Young Economics of the Year Competition is our annual student-based competition, to encourage students to think about current economic issues and promote the study of economic science.

The Royal Economic Society invites students to write an essay or report of up to 1,000 words, excluding references, on one of the four topics below.  Entries will be text-based, but may include tables and charts, with a limit of 1,000 words (with a limit of 5% over word count).

Students did not need to be studying economics to be able to enter and entrants do not have to be members of the RES. This competition is open to all year 12 and year 13 (S5 and S6 in Scotland, years 13 and 14 in Northern Ireland) students studying for A-Level, International Baccalaureate (IB) or Scottish Highers qualifications who either normally reside or are studying in the UK.

Please submit your entry by 23:59pm 10 July 2022.

Competition questions

1. Regional inequality and “levelling up”

The UK government’s “levelling up” programme aims to “spread opportunity more equally across the UK”. For one region of your choice, suggest how this “levelling up” could be carried out in practice.

Note: “Region” is broadly defined – it can be your local neighbourhood, a town/city, or a county. You can discuss any specific regional aspect(s) or economic issues that you think are interesting and are not limited to discussing economic policies.

2. The UK’s “cost of living crisis”

The UK inflation rate (measured by the Consumer Price Index) is the highest it has been in 30 years, prompting concerns that it will cause a “cost of living crisis”. Which types of individuals or families/households are most affected by the current inflation situation and why?

Note: You can discuss any aspect(s) of this topic that you think are interesting, including (but not limited to) the way that the Consumer Price Index is constructed, the price increases of specific goods and services and the difference in magnitudes of price increases, the effects of inflation in the region where you live, and the potential impact of current events (social, political, economic) on the inflation rate.

3. The value of a university degree

The UK Department for Education is concerned about “poor value degrees”, which are defined as programs where “students aren’t earning enough five years after graduating to repay student loans.”

Which university degrees do you think will be considered “high value” in 5-10 years’ time, and why?

Note: You can discuss any aspect(s) of this topic that you think are interesting, including (but not limited to) potential changes in demand for certain jobs or skills, changes in the quality of jobs or types of employment status, and the way that the government measures the “value” of a degree.

4. Cryptocurrency and financial stability

Cryptocurrencies are a digital means of exchange that are not regulated or backed by any legal authority, such as a central bank or government. What challenges do cryptocurrencies such as Bitcoin pose for the Bank of England, whose role is to regulate the UK’s financial sector and keep the macroeconomy stable?

Note: “Challenges” are broadly defined – aside from the economic implications of cryptocurrency you can also consider social, political, informational or other implications, and consider the perspectives of other stakeholders affected by the Bank of England’s decisions, such as cryptocurrency investors and the general public.

Resources and support with entering the Young Economist of the Year Competition

A guidance note on writing and submitting an entry for the YEOY competition and a video on how to reference is available here. 

Have a look at our spolight on students interview with past winners and entrants of the Young Economist of the Year Competition 2021. Prof. Ramin Nasseh, at University of College London, interviews three past entrants of the Young Economist of the Year Competition 2021 where they discuss their experiences and how the competition changed their perspectives.