We are all young economists-the World Youth Economic Forum
中英图文by Jennifer Xiong
The world youth economic forum is designed for senior high schools’ students across the globe to address the most pressing economic issues of the modern day. Because I will study economics for my undergraduate degree, I decided to participate in this meaningful meeting to get an insight into how economics work in global issues.
To sum up, it was a formal meeting like Model United Nations, everyone represented a country, discussing a global issue and maximising the benefits of your own country. I participated in the council of the economics of education and discovered the close relationship between investmentand labour market outcome.
Preparation before WYEF
The most important part of this conference was doing research before the conference which allowedme to build a firm foundation about key conceptions and economic prospect in different countries. I represented Finland throughout the economic forum. To be honest, I was not familiar with the education system in Finland, so I did tons of researches about the education system, labour productivity, employment rate, UN's Human Development Index, economic perspective and GDP per capita in Finland. With my endeavour, I finally gained the best position paper in WYEF.
Lectures given by director from Yale University
For economic aspect, director illustrated education production function, players of the economics of education and the influence of education in macroeconomics and microeconomics. Our director also analysed the global education market and global trends, allowing us to understand different economic policies adopt in different nations.
PICTURE：director(left) from Yale university gave lectures about economics of education, our assistance director(right) who is studying AS now and scored 8.5 in IELTS Speaking(respect!)
Group activities and debates- which deepen our understanding about economics of education
The most effective study method regard by professors from US is presentations and debate (although I do not think so!). Thanks for my effort in global perspective classes at school, it was not challenging for me and I could easily divide the task with my teammates.
Apart from that, I also used the academic knowledge of economics from my A-level study to analyse real situations in various countries. For debate, it was quite annoying.
Although I have experience of participating public forum debate before, I never tried to prepare one within 2 hours, completing all constructive speech, blocks and evidence. Moreover, most of my partners did not have experience of taking part in debate before and I had tried my best to compete with experienced opponents.
Economic lecture given by vice present from Moody’s Investors services
Through WYEF, I got an insight into the economic prospect in China in the macro perspective.
Although China has a stable economy and the overall outlook is unchanged, we still face some problems like declining exports contribute to economic slowdown despite policy support, contraction in shadow bank activity and large regional disparity. We also assessed different macro policies that our country adopted in recent years and policies influence including Made in China 2025, fiscal support to play a greater role though larger central transfers and short-term policies focus on growth and stability. I really understood the close relationship between politics, economics and finance.
Picture3-economic lecture given by vice president from Moody’s Investors services
The most memorable parts in WYEFwas Waltz Ball and Social events. It was quite funny to see all directors dancing on the stage.