New Zealand's top young economists recognised
Christchurch Girls’ High School has been named the winner of the Reserve Bank of New Zealand’s (RBNZ) 2024 Monetary Policy Challenge.
The competition offers senior economics students from across New Zealand a chance to apply their knowledge in a real-world monetary policy scenario.
Second place went to Mount Albert Grammar School in Auckland, while Wellington Girls’ College and Auckland’s King’s College received honorable mentions for their outstanding contributions.
Exploring real monetary policy decisions
The Monetary Policy Challenge tasked students with answering a critical question: “If you were members of the monetary policy committee, what would you set the official cash rate (OCR) to at the October Monetary Policy Review?”
Entries were submitted as video presentations, providing a platform for students to demonstrate their understanding of economic principles and decision-making.
Judges, including RBNZ chief economist Paul Conway (pictured above) and senior economic analysts Caitlin Davies and Hamish Fitchett, were impressed by the high caliber of entries.
“The content and thinking behind the entries were on par with, if not exceeding, the quality of work from many first-year university students,” Davies said.
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Inspiring the next generation of economists
Conway highlighted the significance of such initiatives for the future of economics in New Zealand.
“It’s great to see a strong group of participants in the Monetary Policy Challenge this year,” he said. “We enjoyed watching all the entries and recognise the mahi put into them.”
Christchurch Girls’ High School’s victory presented new opportunities. The team was invited to RBNZ’s Wellington office, where they attended the November monetary policy statement media conference and met Governor Adrian Orr and other senior leaders.
They were also offered the chance to interview for the RBNZ Summer Internship Programme.
Encouraging broader participation
The Monetary Policy Challenge is open to all senior economics students in New Zealand, aiming to inspire a more diverse group of future economists through hands-on learning and engagement with real-world economic challenges.
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