Future Economists Essay Competition

​​​​About the competition

The Future Economists Essay Competition was open to anyone aged 14 to 18 interested in economics. The 2024 competition is now closed, but it is expected to be re-run next year.

The judging panel will mark the submissions over March and April and announce the winner and runners up in May, along with next steps.

In you have any questions, you can get in touch by emailing FutureEconomy@gov.je

The free competition aims to inspire Jersey's next generation of economists by inviting them to write about the big economic challenges Jersey is facing and the world economy.

You don't need to be studying economics to enter the competition, but you must have the right to work in Jersey.

The Colin Powell Award​

The author of the winning essay will be the first recipient of The Colin Powell Award, which has been established in memory of Jersey's first Chief Economist, Colin Powell.

Colin Powell on Wikipedia
The winning essay will also be published in the first annual publication of the Government of Jersey's economic report, and the essays of two runners-up will also be published.

Government internship

In addition to receiving the Colin Powell Award and having their essay published, the winner will be offered a six-week paid internship in the Government of ​Jersey’s Economics Unit, subject to age and employment eligibility, and child employment law​.

This competition is separate from the Government of Jersey Internship Programme and you can apply for both.

Subjects for your essay and format

Your essay must be maximum 1,000 words and answer one of the following questions:

Question 1

​The UK Dasgupta Review of Economics and Biodiversity states that ‘Our unsustain​able engagement with nature is endangering the prosperity of current and future generations’.

What economic policies could Jersey introduce to protect and restore the natural environment?

The Economics of Biodiversity: The Dasgupta Review on GOV.UK​​

Question 2

The International Monetary Fund (IMF) estimated that global inflation increased to 8.8% in 2022, driven by rising food and energy prices.

What does economic theory tell us about what actions and initiatives the Government of Jersey might introduce to deal with the consequences of high inflation and cost of living?

Question 3

Small businesses are a driver of innovation and economic growth. What does economic theory and evidence tell us about the role of small businesses in driving innovation and economic growth, and, the factors, relevant to Jersey, that would enable small businesses to grow and flourish?

Essay format

• ​clearly reference any evidence or data you include. Any reference style is accepted and references are not included in the word count
• not include any personally identifiable information. This should be in the covering email
• be your original work. Essays will be put through a plagiarism checker

You can include graphs and graphics but they are not essential.

You can ask an economics teacher for advice but they can't give feedback on your final essay.

Find advice on writing like an economist on GOV.UK.

The essay format follows similar competitions in the UK such as the FCDO​ Next Generation Economics 2023 competition on GOV.UK.

Useful resource​s

Check out the following information to help you write your essay.

Strategy for Sustainable Economic Development

Delivery Framework for Sustainable Economic Development 2023 to 2026

Carbon Neutral Roadmap

Barriers to Business Report 2023

Retail prices index (inflation)

Statistics and performance

Judging panel and criteria

The judging panel is:

• Minister for Sustainable Economic Development, Deputy Kirsten Morel
  
• Chair of Jersey's Fiscal Policy Panel, Dame Kate Barker
  
• Government of Jersey Chief Economic Advisor, Thomas Holvey
  

The panel will look for:

• creativity. Think about these questions with an open mind and present your own ideas and solutions
• economic understanding. Make use of economic theory where relevant to support your arguments or ideas
• evidence. Use trusted evidence to support your arguments
• clear and concise writing. Structure your argument carefully to make every word count

We will collect:

• ​your name (to identify the authors of the essay. The winning author, and any others published, will be named, unless you choose to remain anonymous. Your name will not be stored or processed for any further purposes. By entering this competition, you are consenting to this data being collected and used in this way.)
• your age at time of submission (to verify your age as per the eligibility criteria. Your data will not be used for any other purposes and will not be stored passed the date at which the winners are announced. By entering this competition, you are consenting to this data being collected and used in this way.) 
• your email address (which will be stored and used to communicate relevant information about the competition, for instance any helpful resources, the winning essays, how to stay in contact with us going forward. Your email will not be used for any other purposes. Your email will not be stored past the date at which the winners are announced unless you wish to be kept on a mailing list for future communications from the team.)
  

The information you provide will be processed in compliance with the Data Protection (Jersey) Law 2018. Find more information in the Department for the Economy Privacy Notice.