Year 12 pupil awarded Highly Commended for Economics essay
Posted on: March 31st 2023School News
Congratulations to year 12 pupil Harry whose essay has been selected as a finalist in the Northeastern University London Economics essay title "What are the most likely implications of the economic sanctions imposed on Russia?".
Harry spoke about his experiences: "I remember that I wanted to engage with the Essay Competitions as it was something I had never really participated in before so wanted to challenge myself. After being advised by members of staff to engage in the competitions I began to explore the various questions under two of my current subjects of Economics and Geography. Dr Kilheeney sent out in January, promoting an essay but also warning that it would have to be completed by the following Monday. Attracted by the prevalence on the question I began my essay that weekend.
"The Russia - Ukraine war was not only between those two countries; countries all over the world were affected some directly and indirectly. Whether it was countries such as UK giving financial support as well as troops but also countries from elsewhere in the world who were affected by the collapse of the 'bread basket of the world'. I soon found that sourcing reliable data to include was difficult; similar to my studies of China at GCSE Russia followed the trend of lying to western reporters. However, my main contributor for facts was Yale University where Jeffrey Sonnenfield was cracking down on the false statements being given to journalists. His studies were very current and reliable, and he featured in many news interviews across the world.
"As well as expending troops over the border, Russia was losing much of its population in employment opportunities; those that could get out, got out. This led to a brain drain as highly skilled higher paid workers left the country. Combined with the sanctions imposed by the west, firms were racing out of Russia and setting up elsewhere. This was not only amongst western brands, 1000s of companies from all over the world were leaving. This showed that even if some statistics were supposedly out, the Russian economy was wrecked. But as I discovered there was an opportunity cost for Russia, with a successful invasion they would gain a port in the black sea and be able to cut time for gas shipping by days opening them up to new markets and reducing their costs".
Harry concluded: "After my Essay I feel as though I have learnt an abundance about Russia and its economy and thoroughly enjoyed the challenge. I enjoyed my ability to discuss the topic further with my economics teachers and am also looking forward to the congratulations event over Easter".
Well done Harry!