The Young Economist of the Year winning essay is the highlight of an annual academic competition that celebrates outstanding young thinkers in economics. This prestigious award is part of the Young Economist of the Year competition, which invites high school students to submit wellresearched essays on important economic topics. Winning this competition is a notable achievement, often accompanied by publication opportunities, cash prizes, and recognition within the economics community. The award showcases students’ analytical ability, understanding of economic theory, and ability to apply their ideas to realworld problems. For many participants, this competition is an exciting opportunity to explore economic issues deeply, receive feedback from expert judges, and gain early exposure to academic publishing and professional experiences.
What the Competition Involves
The Young Economist of the Year competition is organised by the Royal Economic Society (RES) in association with partners like KPMG UK and the Financial Times, aimed at encouraging students to think deeply about contemporary economic challenges. Students typically aged between 15 and 18 (Years 10 to 13) are invited to submit essays, addressing chosen topics that explore economic concepts, policy questions, or global issues. Topics may range from inequality and environmental economics to trade and market behaviour, allowing entrants to demonstrate both theoretical knowledge and original thought. Essays are assessed on clarity, evidence, insight, and the quality of analysis rather than length or complexity alone.
Eligibility and Submission
To enter the competition, students must submit their essays by the deadline, usually set during the summer months. Judges review hundreds or even thousands of submissions from across the UK, making the process highly competitive. Essays that excel in both substance and style are shortlisted and ultimately judged to determine the winners. In some years, winners are published in respected outlets like the Financial Times, offering a rare achievement for an emerging economist.
Criteria for Winning Essays
A winning essay in the Young Economist of the Year competition typically reflects deep economic understanding, structured argumentation, and original thinking. Rather than simply restating wellknown facts, successful essays explore issues from a fresh perspective, incorporating data, realworld examples, and reasoned economic analysis. Judges look for clear introductions that frame the topic, wellorganised body paragraphs that expand the argument, and strong conclusions that tie ideas together and offer insight into the implications of the analysis. Employing relevant economic models, referencing credible sources, and logically connecting evidence are all strategies that elevate an essay in the eyes of the judging panel.
Analytical Depth
Winning essays often go beyond surfacelevel discussion to explain why economic phenomena occur and how they affect individuals, businesses, or governments. For example, a student writing about income inequality might explore supply and demand forces, taxation policies, and international trends, using graphs or examples where appropriate to support their points. This level of analytical depth shows not just knowledge of economics, but also the ability to think like an economist.
Clarity and Communication
While economic analysis is central, clear communication is equally important. The best essays present complex ideas in accessible language, making them understandable to both specialists and nonspecialists. Organisation, transitions, and precise expression help the reader follow the argument from introduction to conclusion. Many winners include a compelling narrative or question that anchors the essay and keeps the discussion focused and engaging.
Notable Winners and Winning Essays
Over the years, the Young Economist of the Year competition has recognised many talented young scholars for their exceptional essays. In 2020, Marco MinasiSmith won the overall competition with an essay advocating for a mansion tax to address inequality, and his work was published in the Financial Times, illustrating the realworld impact of his ideas. Winning this competition often leads to broader recognition within academic and professional communities, particularly when essays are featured publicly.
Examples of Winning Themes
- Proposals for taxation reforms aimed at reducing inequality, like mansion taxes.
- Economic responses to climate change and sustainable development challenges.
- Analysis of trade policies, tariffs, and their impacts on markets and consumers.
- Exploration of labour markets, automation, and education’s role in economic growth.
- Evaluation of government interventions and public spending priorities.
The diversity of themes reflects the broad scope of contemporary economic questions young economists are encouraged to tackle.
Benefits of Winning the Award
Being recognised as the winner of the Young Economist of the Year competition offers several valuable benefits for students. First and foremost, the award highlights academic excellence and independent thought, qualities that are attractive to universities and employers. Winning essays are sometimes published or showcased, allowing students to gain visibility beyond their schools. The prizes, from cash awards to invitations to special events or lectures, reward students for their hard work and dedication. Winning or even being shortlisted can enhance a student’s academic profile, especially for those planning to pursue economics or related fields at a higher level.
Publication and Recognition
One of the most prestigious outcomes for winners is the opportunity to have their essay published in a major outlet like the Financial Times. This not only validates their effort but also brings their ideas to a broader audience. For aspiring economists, such exposure can be motivating and open doors to further academic opportunities or internships.
Personal and Academic Growth
Preparing a competitive essay for this award develops a range of skills, from research and writing to critical thinking and time management. Students learn to gather data, synthesise information, and present coherent arguments, all of which are valuable in academic and professional contexts. Mentors, teachers, and peers often play a role in supporting participants, making the experience collaborative as well as intellectually rewarding.
How to Write a Strong Contest Essay
Students aiming to produce essays worthy of winning the Young Economist of the Year competition should start by choosing a topic that genuinely interests them and has real economic relevance. Thorough research using credible sources helps build a solid foundation for the argument, while creating an outline ensures that the essay remains organised. Engaging introductions, clearly defined sections, and crisp conclusions strengthen the flow of ideas. Reviewing economic theories related to the topic and tying them to presentday examples makes the essay both educational and practical. Finally, revising multiple drafts is an essential step toward refining language, clarifying points, and eliminating errors.
Practical Writing Tips
- Read past winning essays to understand common strengths.
- Use graphs or tables judiciously where they support key points.
- Quote sources accurately and integrate them smoothly into the argument.
- Avoid jargon unless it is necessary and explained clearly.
- Ask for feedback from teachers or mentors to improve your draft.
Adopting these strategies helps candidates craft essays that are thoughtful, wellstructured, and persuasive.
The Young Economist of the Year winning essay represents the pinnacle of achievement in a competitive and prestigious economics essay competition for young scholars. Winning essays stand out for their insightful analysis, strong argumentation, clarity, and relevance to current economic issues. The journey from drafting an essay to being named a winner not only showcases academic talent but also nurtures essential skills for future study and careers in economics. With recognition, publication opportunities, and personal growth, winners of this award join a distinguished group of young economists who have demonstrated remarkable promise in understanding and explaining the complex economic world around them.