Harvard International Economics Essay Contest (HIEEC)

1. Introduction
The Harvard Undergraduate Economics Association (HUEA) is organizing its flagship Harvard International Economics Essay Contest in collaboration with the Harvard College Economics Review. We jointly organize the Essay competition with HUEA and publish the top three essays in our online publications. HIEEC allows students to demonstrate an accomplished level of writing and understanding of economic theory. Students hone their academic and professional skills through the contest and exhibit their knowledge.

2. 2023-2024 Harvard International Economics Essay Contest Topic:

1. Advances in artificial intelligence (AI) can potentially affect growth, inequality, productivity, innovation, and employment. OpenAI’s ChatGPT, in particular, has greatly increased public awareness about the significance of AI and its implications for the future. What impact will the development of AI have on economic inequality, the composition of the workforce, and economic output as a whole? How can nations prepare for the micro and macroeconomic changes brought about by AI?

2. Measuring national and global economic activity allows us to understand how economies change in size and structure—how they grow and contract. In addition to Gross Domestic Product (GDP), government budgets, and the money supply, alternatives like the Human Development Index (HDI) and Gross National Income (GNI) are used to assess economic progress. What are the advantages of our current economic indices, including GDP, HDI, GNI, government budgets, and the money supply, and what areas are they lacking? Which indices do you find most helpful, and how can we enhance or combine them to improve our understanding of economic measurement?

3. Proponents of income redistribution support the idea that redistribution policies will increase economic stability and give more opportunities to the less wealthy. Others, however, are more skeptical and believe it could negatively affect economic growth. Current redistribution methods include taxation, welfare, public services, and other monetary policies. What strategies for income redistribution should the U.S. adopt from other countries? What economic impacts could a wealth tax or super millionaire tax have? What type of redistribution is most effective and feasible? What would be the impacts of the U.S. enacting universal basic income? Discuss the implications of any of these issues and feel free to expand on other areas of economic redistribution.

4. As the United States weighs the impacts of China’s rise to global prominence, economics and national security have become increasingly intertwined. As a result, the United States government has imposed tariffs and investment restrictions on China to limit the nation’s access to US markets and intellectual property (specifically in sensitive industries such as semiconductors). What are the economic implications of these policies for United States firms, consumers, and workers? Discuss the most important perspectives of the US-China trade war and suggest how both countries can manage the prospect of a changing economic order.

3. Prizes

• The top three winning essays will be published (with the author’s permission) on the website.
• A finalist list of the top submissions will be published online and adjudicated by 2016 Economics Nobel Prize Winner Oliver Hart.
• A list of names that will receive the “Highly Commended” distinction will also be published online.