Royal society of economics essay competition 2012


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While inflation has risen to 3. What is causing falling consumption? Credit still in short supply — and expensive People need to save and pay back debt UK housing slump — falling asset prices Rising unemployment — now above 2. Steep fall in capital spending duringthe recession — how can this bestimulated?

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Key to long term growth Mis-leading for many businesses who pay way above the base rate Analysis: What factors affect the level of capital investment spending? Jobs and prices Worsening trade off between 2 key macro objectives Does the UK have an inflation problem? Oil and food prices A little extra inflation can be good! Unemployment rose sharply duringthe recession and is growing oncemore — a worrying sign Long term youth unemployment More than a million young people are now unemployed across the UK.

Analysis: Explaining high youth unemployment — yrs Human Reluctant Capital Employers skills — less new Deficit jobs Reduced Weaknessretirement of existingrates limit training chances schemes Factors limiting effects of low interest rates Businesses Weakness in Deleveraging Fragile cash economies in the UK Consumer hoarding of our major financialand Business despite trading system — Confidence rising profits partners cutting loans Quantitative Easing QE QE is a deliberate expansion of the central banks balance sheet and themonetary base — electronically creating money to improve liquidity in banking Has a weaker pound helped the UK economy?

Why does the UK economy still run such a large trade deficit?

High income elasticity of demand for imported goods and services Some weaknesses on supply-side of the economy i. Fiscal PolicyThe big issue in fiscal policy is thedecision by the Coalitiongovernment to introduce a periodof fiscal austerity — i. Taxes also have microeconomic effects! And demand and supply-side effects How much borrowing can the UK take?

Government debt is rising but long term bond yields remain low Fiscal austerity as Coalition aims to cut the size of the budget deficit over the next five years — will the pain work? The UK economy is exposed to many external demand shocks1. A big rise or fall in the sterling exchange rate2. Recession in major trading partners which affects the demand for exports e.

Euro Zone crisis3. A prolonged slump in the housing market4. Continued credit crunch 1. Squeezing supply of loans — impact on businesses and consumers 2. Making it harder for export businesses to take advantage of the competitive exchange rate How would asharp slowdown in China affect theBritish economy? Can you findsome connections? A fall in aggregate demandPrice Level An initial change in AD can have a much greater final impact on equilibrium national income.

Where will economic growth come from? Cuts in national insurance — Reduced taxes on lower-paid jobs — Incentives for green investment — Youth training guarantees — Fast-forwarding capital projects e. In some cases, it was gratifying to see that personal experience had influenced their choice. The judging teams were kept busy well into lunch and beyond and whilst their debates continued, the parents, teachers and students enjoyed a short lecture by Professor Elizabeta Mukaetova-Ladinska. The judges were impressed with the detailed knowledge that was demonstrated in all of the essays and posters as well as in their discussions with the entrants in each section.

Well done to everyone involved! Dr Cas Kramer, the outgoing chairman, began proceedings by reading a short tribute to Professor Colin Leakey who died in January of this year. A Fellow of the Royal Society and a former chairman of the branch , Colin achieved much in his lifetime and his knowledge and expertise was recognised throughout the scientific community.

As such, the committee wished to dedicate this, and all future AGM lectures, to his memory. This is picked up by the wind and the spider takes off, reaching heights of possibly thousands of metres into the air. No wonder that wind-blown spiders are often the first species to colonise areas like newly formed volcanic islands. Having become used to the idea of spiders at altitude the audience were then shown a short video clip of a sailing money-spider.

They can raise their legs and use them as sails if they land on water. In human terms, it is important to understand more about the behaviour and distribution of spiders in natural populations. In agro-ecosystems they are natural predators, and there is much potential to make more use of their ability to eat common insect pests such as aphids.

Amazing biodiversity and fascinating ways of moving about in hazardous environments: it is no wonder that Dr Goodacre challenges the public perceptions about spiders and gets children to love them. There was even an arachnid amongst her entourage; an African whip spider who caused much interest as the event came to an end. Using the theme "Mental Health Matters", pupils in Years were charged with producing a poster or model whilst the older students were asked to write an essay on any aspect of mental health that interested them.

The day was hosted by the University of Leicester's Health Matters Team and the brand new venue — the George Davies Centre, caused quite a stir amongst the students, their teachers and parents. This very spacious and welcoming space is the largest Passivhaus extremely low energy building in the UK. Refreshments over, a short interactive session with mini-talks and hands-on activities encouraged lots of chatter and thought provoking questions.

The judging began with a team of academics assigned to each section. A few nervous glances were exchanged as the professionals moved amongst the students who were getting ready to 'defend' what they had worked so hard to produce. All agreed that the challenging theme brought a fascinating variety of responses and some excellent work. After lunch, while waiting for the deliberation of the judges, Dr John McDonald gave a short lecture with the intriguing title "Why love matters — how affection shapes mental health and how to reshape it". Finally, congratulations were due and thanks were given to the Edith Murphy Foundation, which sponsored the prizes.

Robeena Farzand demonstrated with ease the communication skills that won her first prize as she explained her research project, which looked at the special DNA elements ICE in Klebsiella pneumonia which impact on fitness, virulence and antibiotic resistance. Robeena emphasised the need for more antimicrobial resistance research looking at preventing DNA transfer between different species of bacteria.

Finally, the audience were treated to a fascinating lecture from Professor Kevin Morgan. Studies since have lead to a massive increase in our understanding of the complex interactions that lead to the neuroinflammation central to this debilitating disease. Continued research, collaboration and data sharing is paramount and should help to identify increase the likelihood of disease-specific treatments and individualised medicine.

Twyford Wood has a good range of different habitats, with both pine and deciduous woodland, some wet grassland and some open areas where there used to be an RAF airfield during the war.

2012 – Royal Economic Society Essay Competition for students

The magic was enhanced by glimpses of roe deer and the fact this site was the home of the Dr Who serial Battlefield. Over the last few years, our group has listed species of fungus in Twyford Wood, 92 of those coming in one year alone. In spite of the wonderful efforts of the children in the group, only 26 species were found this October — the lowest in 30 years — together with a few lichens.

Even the species we did find were in low numbers. For instance, the usual vast spreads of the sulphur tuft, Hypholoma fasciculare , were missing and we appeared to be lucky to find any at all.

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Five species were new records: the spectacular collared earth star, Geastrum triplex , and the jelly rot, Phlebia merismoides , both very good finds indeed. The other three were: the Clustered Domecap, Lyophyllum decastes ; the only ink cap of the day, Coprinus silvaticus ; and a bracket, the rusty-gilled polypore, Gloeophyllum sepiarium. Another good, but not new, find was of several stunning colonies of the spectacular rust gill, Gymnopilus junonius pictured. Thanks to local expert Jane Ostler for her vast knowledge of Twyford Wood; to Marianne Overton, for organising the event; and to Jean Martin for her recording skills.

Thanks also to the Forestry Commission for permissions granted. The event was organised as part of a series of family events aimed at getting children engaged in learning about our local wildlife. Biological science students from across the East Midlands region came to the University of Lincoln in May to compete in the inaugural postgraduate poster competition held as part of the Lincoln Festival of Biology.

The aim was to find the student who could best explain their Masters or PhD project to a public audience. The judging teams Chaired by Dr Geoff Buck had a very challenging task to decide which was best from the thirty excellent posters and talks, but awarded the cash first prize to Robeena Farzand from the University of Leicester Fitness, bugs and DNA ; second prize to Mike Shaw from the University of Lincoln Viruses to treat acne and highly commended to Ben Chivers from the University of Lincoln Sound generating organs in crickets and their allies.

The students were given the theme of "Great biological discoveries that changed the world" and worked alone or in pairs and were quizzed by the judges on day.

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How is your economics degree preparing you for life?

It was very gratifying to see just how much research had gone into producing their final posters. In all respects it was relatively easy to pick out the overall winner as her work and knowledge on Landsteiner and the discovery of blood groups was so impressive.


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Well done girls! Some of the 60 or so attendees for the East Midlands AGM may remember little of those brief proceedings, but instead, may have left the Keighton Auditorium, University of Nottingham, determined to brush up on their Anglo-Saxon. Following an ancient recipe to this degree is most rare, so the discovery that the resultant clear, slightly acidic brownish liquid really did work wonders amazed the laboratory and sent the national press into somewhat of a frenzy.

Perhaps most notably, the remedy killed that most notorious of pathogens, methicillin-resistant S. Furthermore, laboratory results repeatedly confirmed that it is only the combination of all of the said ingredients that results in significant bactericidal activity, and even waiting the nine days was important.

Steve Diggle and his co-workers are left with many unanswered questions, but the hope remains that therein could be much potential in an otherwise doom-laden area of concern regarding increasing levels of antibiotic resistance. English by birth, Charlie is a Fellow of the Society and an honorary professor on the Sutton Bonington campus of the University of Nottingham. In both , and this year, he has come to Nottingham throughout July to teach a summer abroad class. The end product, treated with respect, has health giving properties too. Historically, social history records even remind us that it was those drinking porter who survived the scourges of cholera that plagued early urban lives.

We even had a mini lesson on how to wash glasses efficiently so as not to disrupt the all-important head of foam. Tours of the brewery followed, led by Bruce Wilkinson, who together with Geoff Mumford had purchased the Burton Bridge Inn back in with a view to setting up their own small brewery.

He spoke of the the importance of the water, with its perfect balance of Burton salts, the various cereal grains some with an intriguing, chocolately taste , and the hops, which we rubbed together in the palms of our hands in order to savour their aroma. What a lot to consider, not forgetting the yeasts of course. And what fun to climb a step ladder and peer into the bubbling tanks before us! Generally, the population structure within the UK is limited, with only three genetically distinct regions evident when using less refined methods.

The Orkneys are obviously quite different, undoubtedly a result of long term Viking influence Wales is also relatively distinct from the rest of the UK. However, the fine detail described in this study demonstrates an equivalence between clusters and what may have been ancient kingdoms and geographical boundaries.

Central and Southern England were found to be the most homogenous regions with the largest influence from Anglo-Saxon migration, although this is estimated to be less than previously thought at between 10 and 40 per cent. Nevertheless, perhaps the most significant finding is that the populations have been relatively stable over a long period of time in spite of various invasions and occupation.

As Sir Walter drew his intriguing and thought provoking lecture to a close, the audience responded with many questions revealing their keen interest in his research. Were they still pondering their own genetic lineage as they made their way home? Valued sponsorship from the Society for Endocrinology SfE enabled local youngsters, accompanied by their teachers and parents, to gather at the University of Leicester to celebrate the start of British Science Week. Professor Saffron Whitehead represented the SfE and contributed much to the day's activities.

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A hands-on activity session gave students the opportunity to ask her about the roles of the various endocrine glands, while a rolling power point provided extra visual and factual detail that would prove invaluable in the quiz she had devised. The senior students heard from Mr Gareth Price, a PhD student from the University of Lincoln, who explained some aspects of his research into how diabetes affects the kidneys.

Meanwhile, Ms Rebecca Pritchard from the Diabetes Research Centre at Leicester had her hands full with students pedalling away on exercise bikes endorphins alert! In the same laboratory a bench full of very large books surrounded Dr Marie Nugent, a recent postgraduate from the University of Leicester. Inside, in very small font and to everyone's amazement, she revealed the complete base sequence for the whole of the human genome. The business of the day followed, with the junior competitors standing by their posters and models, and the seniors by their essays.

All had to defend their interpretation of the theme for the day - 'Endocrinology: biological messaging'. If not being quizzed by the judges, the students were racking their brains to complete the aforementioned quiz. A relaxing lunch followed and then everyone listened with much interest to a short lecture by Professor Whitehead, entitled, 'Hormones, homeostasis and health'. What should be done to address the problem?

A breakup of the euro provides the best hope for a durable recovery of the European economy. To what extent can we use ideas drawn from behavioural economics to help address specific social and economic problems? Does this matter and, if so, how could policy revitalise British manufacturing?

All entries will be judged by a panel of experienced Economics teachers drawn from a range of schools and colleges across the UK. The Teacher Panel meet together in mid June for two days and produce a Final Shortlist of entries typically from the expected entry of over essays. You are commenting using your WordPress. You are commenting using your Google account. You are commenting using your Twitter account. You are commenting using your Facebook account. Notify me of new comments via email. Notify me of new posts via email. Enter your email address to subscribe to this blog and receive notifications of new posts by email.

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royal society of economics essay competition 2012 Royal society of economics essay competition 2012
royal society of economics essay competition 2012 Royal society of economics essay competition 2012
royal society of economics essay competition 2012 Royal society of economics essay competition 2012
royal society of economics essay competition 2012 Royal society of economics essay competition 2012
royal society of economics essay competition 2012 Royal society of economics essay competition 2012
royal society of economics essay competition 2012 Royal society of economics essay competition 2012
royal society of economics essay competition 2012 Royal society of economics essay competition 2012
royal society of economics essay competition 2012 Royal society of economics essay competition 2012
Royal society of economics essay competition 2012

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