Rockwell College win Generation €uro National Final at the Central Bank

• Rockwell College, Co Tipperary, win top award
• St Muredach’s College, Co Mayo and Clongowes Wood College, Co Kildare runners up in the national final

Ireland’s brightest young economists – students from Rockwell College, Co Tipperary, St Muredach’s College, Co Mayo and Clongowes Wood College, Co Kildare - competed in a tightly contested national final in the Generation €uro Students’ Award run by the Central Bank of Ireland.

Students from Rockwell College, Co Tipperary, claimed the top award after overcoming tough competition in the national final.

Now in its tenth year, the school competition, run by the Central Bank of Ireland in association with the European Central Bank (ECB), challenges Transition Year and 5th Year students to design monetary policy.

Economic students Peter Heaney, Padraig Duggan and Ronan O'Connor from Rockwell College, and their teacher Pat Egan, will now represent Ireland at the European Central Bank (ECB) where they will meet ECB President Christine Lagarde and the other winning teams from across Europe.

Deputy Governor Sharon Donnery praised the budding economists for participating in the final, saying: “It is the case that the study of economics can open the door to so many careers. Here in the Central Bank we employ economists in a wide range of roles across the Central Bank working on issues such as inflation, financial stability, climate change and behavioural finance among others.’’

Deputy Governor Donnery also noted: ‘’The Central Bank is committed to playing its part in encouraging the economists of the future. We run the Generation Euro here in Ireland and we also sponsor an award in the Young Economist of the Year Award. I, and my economist colleagues, regularly speak to students studying economics at second and third level.’’

Speaking about the winning team, Deputy Governor Donnery added: “Rockwell College demonstrated their in-depth knowledge and understanding of complex tasks undertaken by the ECB. At a time when the work of the ECB and ourselves here at the Central Bank are so prominent in Irish life, it’s good to know our future is in safe hands.’’

Notes

• The Generation €uro Students' Award is Ireland's leading economics competition for Transition and 5th Year students.
• It is run by the Central Bank of Ireland in conjunction with the European Central Bank (ECB) and is conducted simultaneously by other national central banks in the euro area. Every year we search for Ireland’s brightest young economists to enact the role of the European Central Bank’s Governing Council, perform their own analysis of the economy and set what they believe is an appropriate interest rate for the euro area.
• Students enter the competition in teams of three to five, with a nominated teacher acting as mentor. Participants are tested over three different rounds - a quiz, a written analysis and a presentation. The successful teams from the online quiz proceed to the second round where they are asked to analyse economic conditions and determine what they believe to be the appropriate interest rate for the euro area. The finalists then present their findings to a panel of senior economists at the Central Bank.