Kristin wins Reserve Bank Monetary Policy Challenge for a third time
Kristin School took out the top honours in the Reserve Bank of New Zealand's 2019 Monetary Policy Challenge. Designed to expand students’ understanding and appreciation of monetary policy, the Monetary Policy Challenge has been a long-standing competition organised by the Reserve Bank since 2002. This year, 32 schools from across New Zealand participated and presented their monetary policy and Official Cash Rate decisions through video submissions. Teams took into consideration the changes to the Reserve Bank’s monetary policy mandate - which now requires maximum sustainable employment to be considered alongside price stability.
Six teams were selected as finalists and discussed their presentations with the judging panel, composed of Reserve Bank economists Evelyn Truong and Jamie Culling and Assistant Governor and General Manager of Economics, Financial Markets, and Banking Christian Hawkesby.
“Overall, we were impressed with how the six finalists demonstrated their knowledge of economic concepts. Kristin School particularly stood out as they characterised a sound understanding and in-depth research of various factors relevant to monetary policy. Their presentation had solid framework and structure. The students also worked exceptionally well together in answering some very tough questions” Mr Hawkesby said.
Kristin is the first school in New Zealand to have won the title three times. The school also won in 2017 and 2010. This year’s winning team members were students Jonty Grant, Joshua Heatley, Finn McClellan, Phoebe McKellar and Jaqlin Van Schalkwyk who were mentored by economics teacher Mr John Osborne. Well done team!
The team received $2500 in prize money for Kristin School and each team member also received prizes worth $500. They will also visit the Reserve Bank in Wellington to watch the Monetary Policy Statement media conference on 7 August. The students will have a full-day of learning how economic theory is put into practice as they meet with Governor Adrian Orr, members of the Monetary Policy Committee, and senior decision-makers.
“These young economists […] show great potential,” Mr Hawkesby said. “They’ve been guided well by their teachers and all their preparation and research came through during their presentations.”