Congratulations to all who participated in the 2020 Essay Competition!
Professor Hart's comments for the finalists:
"All ten essays are very well-written, thoughtful, and interesting. The students are already sophisticated thinkers about
complex economic issues, and show maturity well beyond their years. I was very impressed. Choosing the winners was extremely difficult."
"Lim's essay was an insightful analysis of automation, who the winners and losers will be, and what we can or should do about it. I very much liked the discussion of self-driving cars, and of whether people can find meaning in life if they are not working, even if they have a decent standard of living."
"Pandey provided a very interesting analysis of the economic implications of the pandemic, including discussions of the impact on growth and inequality. I was particularly impressed by the use of prominent theories from the literature, including the Solow-Swan model, as well as the work of Keynes and Saez, to understand and clarify these issues."
"Wong analyzed the implications of non-rational behavior by economic agents. She provided a very interesting discussion of the biases that are common, including those held even by sophisticated agents such as World Bank staff, and an insightful account of what can be, and is being, done to overcome these biases."
Clarissa Wern Ting Wong
Highly Commended Essays
Ki Myoung Cheon
Ngoc Lan Ho
Yi An Chan
The 2020 Harvard International Economics Essay Contest is sponsored by the Harvard Undergraduate Economics Association (HUEA) in conjunction with the Harvard College Economics Review (HCER). This essay competition is open to high school students of any year and is a fantastic opportunity to demonstrate an accomplished level of writing and understanding of economic theory. Through the contest, student competitors hone their academic and professional skills and exhibit their knowledge to future employers and academic programs.
Competitors must construct a convincing argument using economic theory and real-world examples. Winning essays will be published in the Harvard Economics Review and will be available for the greater Harvard community to read. Essays should focus on argumentation supported with facts and references, although data-based support is also welcome.
2020 Essay Questions
The 2020 coronavirus pandemic has massively disrupted global markets, policy decision making, and day-to-day human experience. In what ways has the pandemic impacted markets? How have your economic relationships, and market interactions been impacted? What policy work is needed to combat the economic stress? How will markets, trade, and decision making be impacted after the pandemic is resolved?
Traditional economic theory tells us individuals use rational calculations to make rational decisions. However, recent behavioral economics research suggests actors in markets do not always make rational decisions. In what ways can people make suboptimal decisions? What are the implications of these decisions? How can markets or governments correct for these inefficiencies?
Secular stagnation describes a prolonged period of low economic growth. Many economists believe the United States is currently facing (and will continue to face) secular stagnation. Why has secular stagnation occurred in the United States? Is secular stagnation permanent? How can the United States increase its growth over the long term?
The advancement of technology, artificial intelligence, and robot techniques will rapidly change the labor market as we know it. Many workers are predicted to be permanently displaced. What are the implications of this rapid increase in technological innovation? What can be done to meet the needs of the millions of displaced workers?
11:59pm EST 1st October 2020 – Essay titles released
11:59pm EST 31st December 2020 – Essay deadline
February – Highly Commended and Finalists notified
March – Winners notified, results published on the website
Entrants must choose one of the four prompts and write a response to it with a strict limit of 1500 words. Submission must be via the HUEA website and entrants are limited to submitting one essay with only the first submission being considered. Each essay submission will have a $20 reading fee which should be paid upon submission of the essay. The deadline for submitting the essay is 11:59pm EST December 31st, 2020.
The essays will be judged by the boards of the HUEA and HCER, with the top 10 submissions being adjudicated by the esteemed Harvard professor and 2016 Economics Nobel Prize winner Oliver Hart.
The top three winning essays will be published (with the author’s permission) on the Harvard Economics Review online Publications. A finalists list of the top 10 submissions will be published online and adjudicated by 2016 Economics Nobel Prize Winner Oliver Hart. A further 20 names will receive honors of “Highly Commended” and their names will be published online. The judges' decisions are final.
Terms and Conditions
The word limit of 1500 must be strictly adhered to. Any words past the limit will be truncated. This limit excludes references, footnotes, titles, headers and footers.
Essays must be written only by the entrant. Any outside assistance must be declared in the beginning or end of the essay.
Only your first submission will be accepted. Any further submissions will not be read.
References must be included, and any plagiarism will lead to disqualification.
References must be in Chicago or APA format.
The only accepted document formatting is PDF. Any other format will not be accepted, nor will refunds be given to those who do follow this rule.
No refunds are granted.
Grades 9-12 are permitted.
The essay must not be entered in any other competition nor be published elsewhere.
No individual feedback of essays will be granted.
The decisions made by the HUEA, HCER and by the final round of adjudication are final.
All winners agree to their names being published on the HUEA website.