MEDIA RELEASE No: 2008-06 Date: 29 April 2008 Embargo: For Immediate Release

RBA ECONOMICS COMPETITION

The Reserve Bank of Australia is pleased to again support an essay competition for university students to be conducted by the UNSW Economics Society. It will provide students at Australian universities with an opportunity to further their understanding of an important economic issue of relevance to Australia.

The essay topic for this year is Housing Costs and Affordability in Australia. Housing is an important component of household expenditure and household balance sheets. Essays should discuss:

1. how housing costs and affordability have changed in Australia over the past two decades, and the factors that have contributed to these changes; and
2. whether there is a role for government in improving housing affordability and if so, which policies you would recommend. Take care to explain the efficiency and equity implications of any policies you identify.

The competition is open to citizens and permanent residents of Australia who are currently enrolled in an undergraduate program at an accredited Australian university. Entries must be submitted by 22 August 2008.

For all enquiries about the competition, including detailed information about the rules, submission guidelines and prizes, students should visit the UNSW Economics Society Essay Competition web page: http://www.unswecosoc.com.