Dublin student wins 2022 Young Economist of the Year overall award for a project about the Fair Deal Scheme

The overall winner of the PDST Young Economist of the Year Award 2022 was announced yesterday as Grace Keaveney, a Transition Year student from Loreto College, St Stephen’s Green.

This year’s winner was selected from hundreds of entries from post primary schools nationwide.

Grace Keaveney won the overall prize for her research project entitled Is the Fair Deal Scheme Actually Fair?

This year’s award ceremony took place at UCD O’Reilly Hall, Belfield, Dublin.

Several other special interest prizes were also awarded.

Sharon Kiely and Grace Keaveney

The Central Bank of Ireland Award for projects with a focus on monetary policy or the Irish Economy was also presented to Ms. Keaveney for her entry entitled Is the Fair Deal Scheme Actually Fair?

The Irish Government Economic and Evaluation Service (IGEES) Award, for projects with a focus on government economic policy and related matters, was presented to Ruairí Holohan from Drogheda Grammar School, Co Louth.

His project was titled Will Free Public Transport be Feasible for Everyone in Ireland by 2030?

Now in its 9th year, the Young Economist of the Year is a national award for the promotion and understanding of economics for second-level students.

Students from across the country are invited to submit a research project on a topic of their choice.

This year’s overall winner, Grace Keaveny, created a report which examined the issues of equity in relation to Ireland’s Fair Deal Scheme.

The project posed a well-defined question, related to the sustainable development goal (SDG) of Reduced Inequalities.

The scheme was designed to reduce income inequality by allowing access to nursing home care for all.

The project relates to economic concepts of income inequality, inflation and government intervention and analyses how effective the scheme is at reducing inequalities, featuring a discussion of the impact on a typical farming family.

A worthy winner with the lens firmly focussed on a contemporary, and all too familiar dilemma for many in modern Irish society.

Professor Rowena Pecchenino, Maynooth University, part of the judging panel, described Ms. Keaveney’s application of economic theory as “a very good example of how top YEOTY submissions examine questions of economic policy concern for Ireland and the world.

The very best submissions go well beyond what is found in the press, to consider and seek answers to deep economic questions using economic theory and empirical examinations.

Through these projects they hone their research skills and strengthen their interest in economics which enhances their understanding of our world”.

National Director of the Professional Development Service for Teachers (pdst), Nuala Taaffe said, “Since the new Leaving Certificate specification was introduced in 2019, PDST has worked closely with all teachers of Economics to ensure its effective implementation.

“We will continue this collaboration into the future as we recognise the important impact that the subject has and will have over the coming years. Our country and indeed the wider world is grappling with many challenges that will have a major effect on both our national and global economies.

“Climate change, the Covid Pandemic and more recently, the war in Ukraine are stark reminders of how fragile our world economy is.

“If we are to be responsive to these and other such concerns, we will need the best young brains out there to help us navigate safely through the challenging times ahead.

“I like to think that maybe some of today’s recipients will be the economists of the future who will fulfil that role.”