MEDIA RELEASE No: 2007-16 Date: 27 September 2007 Embargo: For Immediate Release

RBA ECONOMICS COMPETITION 2007 AWARDS

The Reserve Bank is pleased to announce the winners of the inaugural RBA Economics Competition. This competition is run by the Bank in conjunction with the UNSW Economics Society.

• First prize ($1500): Callum Jones, the University of Western Australia
• Second prize ($750): Virginia Gogan, the University of Western Australia
• Best essay from a first year student ($500): Ashley Cheng, the University of New South Wales

These students’ essays – which addressed the consequences of an ageing population for Australia’s future productivity and economic growth, and the associated economic policy challenges – stood out among a number of good entries.

Essays were submitted by students from 12 different universities in Australia.

Prizes will be presented to these students by the Governor at a ceremony at the Reserve Bank of Australia in Sydney in October.

Congratulations to each of the winners and to those who submitted an entry to the competition.

The Reserve Bank is pleased to announce it will be sponsoring a similar essay competition next year, with the question, and other details, to be announced in May 2008.