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The 16th Economix: Global Economic Challenges competition’s theme for this year is
The Future of Work: A Looming Phenomenon. Participants’ ideas and knowledge will
heavily be observed concerning our world’s ability in maintaining its economic performances
in the moment of not only incessant global economic problems, but also many fundamental
obstacles which have internally occurred in every country globally. This international
competition opens to all undergraduate students from universities all over the world.
Participants of the competition consist of two-person teams, with no minimum threshold for
each university to send their teams to the competition.
The teams have to register online by filling in the Registration Form which can be
obtained from www.economix-febui.com. The completed Registration Form, together with the
paper, must be submitted to the committee not later than August 19th 2018. The
16thEconomix committee will only accept 16 participants from all papers submitted. The paper
assessment will be done by the judges who are experts in their respective fields, which consist
of national and international academicians, economists, lecturers and practitioners. The 16
teams that have been selected to participate in the competition will take part in the next two
phases, Head to Head Phase and Final Phase. In the Head to Head phase, the team of
adjudicators will assess participant’s paper presentation, participant’s knowledge and
participant’s speech about topics concerned with the sub-themes which have been provided. In
the final phase, the team of adjudicators will evaluate the discussion of case study to determine
the winner of 16thEconomix: Global Economic Challenges competition.
Important Dates
Call for Paper : May 4 – August 19, 2018
Announcement for Delegation : October 7, 2018
Technical Meeting : November 4, 2018
Head to Head and Final Phase : November 6 – 8, 2018
SUBTHEMES
Countries are now facing two crucial phenomena related to demographic change:
demographic dividend and aging population. Demographic dividend is a phase in the
demographic transition of a country where the growth rate of the working age population is
much higher than that of the dependent population (below 15 and above 60 years old). This
phenomenon occurs due to falling birth and death rates currently being faced by countries like
India, Saudi Arabia, and Australia. In those aforementioned countries, the working population
is likely to expand (+33%, +41, and +27% respectively).1 It could create a huge potential for
the rapid growth of the economy. During this phase, the size of the working population in the
economy is huge, which leads to increased savings and investment as well as a reduction in
unproductive consumption. However, therein lies big challenges: creating enormous
employment generation opportunities and raising the employability and skills of the youth.
On the other hand, the established developed-countries are facing the phenomenon of
ageing population, a phase wherein the old outnumbers the young. While it can be interpreted
as a higher life expectancy, it also does mean that they have less share of young workers (-28%
in Japan; -23% in Italy and Germany).2 If changes are not occurring in the economically active
population at the same time, the size of the labor force will tend to decrease, thereby limiting
its economic capacity to cover the needs of those who have already retired. In addition, the rise
of external factors, such as the advancement of artificial intelligence, could shift the work form,
change work behavior, discourage future workforce participation, tighten job market, etc. In
due course, the changes might create the gap between an individual’s job skills and the
demands of the job market.
Through this theme, participants are expected to come up with a case study related to
one of these phenomena (or both) that either has occurred or is expected to happen in the future,
analyze the effects, opportunities, problems, and come up with solutions on how economies
can cope with these happenings.
1
Organisation for Economic Co-operation and Development (OECD), Future of Work and Skills: 4-5
2
Ibid.
In the future, automation might ultimately displace and turn obsolete many forms of
human labor due to the fact that automation in our present age is radically different in
comparison to the past instances where it had happened. While in the past automation had been
largely confined to the manufacturing sector, the advent of AI in this age may alter the old
paradigm as it also threatens jobs in the service sector. Furthermore, automation also implies
the replacement of labor with capital in the production process, the continuous occurrence of
which may cause further significant decline in labor’s share of national income, continuing a
pre-existing trend where wage growth has largely failed to catch up with growth in
productivity. However, some economists contend that this prediction is far too pessimistic and
does not properly reflect the complementing effects of automation. Automation, in their
opinion, also has the potential to create higher-quality jobs that can ultimately replace the
manual, blue-collar jobs lost to automation.
Economic growth in a world with automation seems almost like a given, as robots and
AI can do with much more efficiency the tasks that had before required intense human labor.
However, it is important to recognize that economic growth cannot only be led through supply-
side productivity growth. With high wages and strong bargaining power, workers could create
strong demand for goods and services in the economy. It is unlikely that this will occur again
in the future due to the change caused by automation and much of the gains from this
transformation will only fall in the hands of a privileged few instead of being distributed
equitably to all layers of society. Unfortunately, they represent only a minuscule portion of the
population and their patterns of consumption is unlikely enough to sustain a growing economy.
If this trend is to continue well into the future, automation may signify the end of sustainable
economic growth for much of the world.
Participants are expected to provide an outlook on the future by analyzing the future
challenges and opportunities presented by automation in terms of employment, inequality,
growth, or the interaction between those three variables. Participants may also strengthen their
case by evaluating historical precedents where automation had occurred in the past and relate
it to the problems faced in the present and future.
In the past, work had been traditionally associated with steady income and reliable job
guarantees. For millions of workers across all sectors however, this no longer seems to be the
case. There exists an ongoing trend called ‘non-standard employment’ (NSE), the examples of
which include temporary employment, temporary agency work, and zero-hour contracts,
among others, where job security is essentially being traded off in exchange for labor
flexibility. Despite possessing greater freedom and independence, these workers will always
be in a precarious and unstable position, constantly hopping from one job to another. This
changing nature of work carries significant ramifications for the labor market, especially when
coupled with technological advancement in areas related to information and communication.
Various other phenomena related to the labor market, such as skill mismatch, labor mobility
and wage penalty, among others, will be further amplified as this transformation continues to
take hold.
There are huge challenges associated with this change, particularly in areas of labor
regulation and government policy. The emergence of NSE has not been followed with similar
alteration in labor laws and policies as legislators have failed to keep up with this rapid change
in work arrangement. Thus, workers in this new economy may not possess the necessary labor
protections that they once had, and are likely to suffer from workplace exploitation and job
insecurities. On the other hand, legislators also have to ensure that the interests of businesses
are sufficiently represented, given that NSE is a valid method for them to adapt to the
increasingly volatile and stagnant economy. This represents a unique challenge in terms of
labor regulations and policy, and sufficient efforts are required to balance the interests of both
workers and businesses. Participants are expected to analyze the various ways in which the rise
of non-standard employment may affect the labor market and propose solutions for
counteracting the harms and expanding the benefits of those effects.
STAGES
The 16th Economix: Global Economic Challenges Committee will select sixteen (16) papers
for the competition. The Committee will then invite these sixteen (16) teams to present their
papers in the 16th Economix: Global Economic Challenges Competition at the Faculty of
Economics and Business, University of Indonesia. These sixteen teams will follow the Head
to Head phase and Final of competition.
15. The 16th Economix and Kanopi FEB UI will not be responsible or liable for any costs,
problems, damage or loss of whatsoever nature to the participants resulting from their
participation in the competition.
16. The 16th Economix and Kanopi FEB UI reserve the right to disqualify any participant that
they determine are submitting material that is deemed to be offensive.
17. Entry to the competition is deemed an acceptance of The 16th Economix and Kanopi FEB
UI terms and conditions of use as posted on the website.
18. Entries must be original work by the entrant.
19. Any form of plagiarism will result in automatic disqualification. It is the responsibility of
the participant to ensure that their paper does not infringe the copyright of any third party
or any other laws.
20. By entering, the entrants, including the winner, agree to allow the free use of their names,
photographs and general locations for publicity and news purposes during this competition.
21. Submission of an entry will be deemed acceptance of these terms and conditions.
22. The 16th Economix and Kanopi FEB UI reserve the right at any time to cancel, modify or
supersede the competition (including altering the prize) if, in their sole discretion, the
competition is not capable of being conducted as specified. The 16th Economix and Kanopi
FEB UI reserve in their absolute discretion the right to substitute a prize value in the event
that circumstances beyond their control make this unavoidable.
23. Paper must be submitted no longer than August 19, 2018 on a form of .pdf and submitted
to publicrelation16theconomix@gmail.com with the file name of [Main
Competition_Member1_Member2_Institution]
Example: [Main Competiton_John_Smith_Universitas Indonesia]
24. The competition is not open to anyone professionally associated with this competition.
b. Relevance 25%
c. Responsiveness 15%
d. Teamwork 10%
The five teams with the highest scores will be selected as the finalists for the final stage. The
weighting of the scores is:
a. Paper 25%
b. Paper Presentation 30%
c. Knowledge Assessment 30%
d. Economic Speech 15%
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b. Presentation 20%
(Delivery, organization, and presentation aids)
c. Response/ Discussion 30%
(Ability to handle question)
*If two or more finalists have the equal score, the rank will be decided by comparing the
score in the head-to-head stage.
The total score of Stage III will be used to determine the best three teams, with the title of the
winner, the runner-up, and the third-placed of the 16th Economix: Global Economic Challenges
Competition.
The prizes are*:
a. The winner : US$ 1000
b. The runner-up : US$ 600
c. The third-placed : US$ 400
Should you have any questions regarding 16th Economix Paper Competition please
contact us through our social medias or our team:
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