Economics students take on role of ECB at Generation €uro Awards

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The Central Bank of Ireland recognised the achievements of young economics students at the Generation €uro Students’ Award final on Friday.  A team from Sutton Park School were crowned winners at the virtual event.

Students from Sutton Park School beat stiff competition from Killorglin Community College in the final. Both teams took on the role of the ECB Governing Council by carrying out an analysis of the economy and setting an appropriate interest rate for the euro area. The two teams talked in detail about the challenges currently faced by the euro zone, and were commended for their ability to analyse the rapidly changing economic environment against the backdrop of the COVID-19 crisis.

Deputy Governor Sharon Donnery awarded trophies to the teams and highlighted the achievement of those who reached the final, saying, “through their participation in this competition, the students from Sutton Park School and Killorglin Community College demonstrated a strong understanding of the principles of economics and of monetary policy, and they showed rigour in their assessment of the monetary policy options available as they put themselves in the shoes of the ECB Governing Council”.

Speaking about the winning team, she added that Sutton Park School “showed great understanding of the ECB’s mandate of price stability and outlined risks associated with this. Moreover, they handled questions very well, displaying in-depth knowledge of the subject.”

Commenting on the importance of engagement with the next generation of economists, Deputy Governor Donnery said “the Central Bank is very committed to playing its part in encouraging the economists of the future. It’s very much in our interests to ensure there is a strong pipeline of young people interested in economics who may choose to forge careers in this area in the future. The study of economics can open the door to so many careers.”

The Generation €uro Students’ Awards presentation represents the culmination of nearly a year’s work for the successful student teams. The Central Bank is delighted to deliver the final virtually and to recognise the achievements of the competing teams.

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