Singapore, 11 July 2008...The Monetary Authority of Singapore (MAS) and the Economics Society of Singapore (ESS) today awarded prizes for the annual MAS-ESS Essay Competition 2007.
2 The seventh MAS-ESS essay competition was open to tertiary and pre-university students who submitted entries on the topic “Singapore’s Growing Income Disparities: Causes, Consequences and Policy Options”. The competition required the students to provide in-depth analysis of the factors underlying the trends in income distribution in Singapore, with particular attention given to widening gaps between different groups, and the consequences of these widening gaps. The essays were also judged for demonstrating breadth and depth in discussing policy options to meet present and future challenges.
3 The prize giving ceremony took place during the ESS Annual Dinner. The winners received their prizes from Guest-of-Honour, Minister Mentor Mr Lee Kuan Yew. Mr Lee also shared his views on how Singapore had navigated the challenges she had faced through the years, what are some of the key challenges ahead, and how Singapore can continue to thrive.
4 The winners were:
| | Pre-University Category | University Category |
| First Prize | Mr Ying Zhi Jun John
Anglo-Chinese Junior College (Currently doing NS)
Cash Prize: $2,000 | Ms Ishita Dhamani
National University of Singapore
Cash Prize: $5,000 |
| Second Prize | Mr Tan Ee Kuan & Mr Benjamin Joshua Ong (Joint Entry)
Raffles Junior College
Cash Prize: $1,000 | Ms Ang Shao Wen
Cornell University
Cash Prize: $2,000 |
| Third Prize | Mr Au Yong Kok Kong Jonathan /
Mr Alexander Woon Wei-Ming (Joint Entry)
Raffles Junior College
Cash Prize: $500 | Mr Yeoh Keat Loon
Singapore Management University
Cash Prize: $1,000 |
5 Commenting on the competition, Dr Khor Hoe Ee, Assistant Managing Director of Economics at MAS and President of the ESS said "We had an overwhelming response this year. A total of 146 entries were received, more than double the number received last year. This is evident of the growing interest among students to analyse and debate pertinent socioeconomic issues. Many of the entries were of very high quality and the discussions were mature and wide-ranging, with sufficient thought given to policy options and implications. As a result, it was a challenge for the judges to select the winning essays."
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