The Economics Competition 2011

Awards presentation Wednesday 16 November 2011 The University of Business School Department of Economics

11075 Economics Competition Programme 2012.indd 1 11/10/2011 2:45:06 PM Programme

MC Professor Tim Hazledine Department of Economics, The University of Auckland Business School

Welcome Professor Basil Sharp Department of Economics, The University of Auckland Business School

Presentation of awards High Distinction

Guest speaker Hugh Fletcher MCom(Hons) Auckland, MBA Stanford, BSc, BCom Auckland

Presentation of awards High Distinction

Presentation of trophies and awards National winners

Closing

Please join us in the main foyer of the Owen G Glenn Building for discussion, photos and refreshments at the end of the awards presentations.

Events at The University of Auckland Business School may be photographed or filmed for educational purposes. Where a photograph or film/video footage featuring an individual is to be used for promotional materials the consent of the individual will be obtained. Consents will not be sought in other circumstances.

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11075 Economics Competition Programme 2012.indd 3 11/10/2011 2:45:07 PM 2011 New Zealand Economics Competition Welcome to the New Zealand Economics Competition Awards presentation evening.

The Competition has been administered by the Department of Economics at The University of Auckland Business School since 2008. The 55 minute examination paper contains 40 multiple choice questions that test classroom theory and general knowledge of current economic issues.

The New Zealand Economics Competition has grown in size and reputation since its inception in 1997, becoming the largest and most prestigious competition of its kind for secondary students. One of its aims is to promote the study of Economics.

This year 2,707 students from 125 schools throughout New Zealand entered the Competition. Tonight is an opportunity to recognise some of the students who have achieved outstanding performances. We also wish to express our gratitude to teachers and principals, whose contribution makes the Competition possible.

The New Zealand Economics Competition is sponsored by The University of Auckland Business School and the Kelliher Economics Foundation. Established in 1964, the Kelliher Economics Foundation is aimed at encouraging secondary school students to pursue tertiary studies in economics.

For more information about the New Zealand Economics Competition, visit our website: www.business.auckland.ac.nz/nzeconcomp

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11075 Economics Competition Programme 2012.indd 4 11/10/2011 2:45:07 PM Guest speaker profile Hugh Fletcher MCom(Hons) Auckland, MBA Stanford, BSc, BCom Auckland

Hugh was an undergraduate student at The University of Auckland from 1966-69 and a senior scholar in Economics and Mathematics. He was awarded a Harkness Scholarship and obtained an MBA at Stanford University, California. On his return to Auckland he completed an MCom with first class honours in Economics.

Hugh was an executive with the Fletcher Group for 26 years, and deputy chief executive or chief executive for 17 of those years. During this time, the annual compound total shareholder return (dividends plus share price appreciation) was 16.9%, versus inflation (CPI) of 6.9%. During the 90s, when Hugh was CEO, Fletcher Challenge had more than $10 billion of assets and 30,000 employees with activities in most continents in the forestry, pulp and paper, oil, gas, petrochemicals, construction and building materials industries.

Hugh retired as an executive in 1997. Since then he has had a number of non-executive directorships, as well as advisory board and trustee roles, including on The University of Auckland Council for 12 years (four as Chancellor). He currently holds directorships at the Reserve Bank of New Zealand, Fletcher Building, Insurance Australia Group, Vector, Rubicon and the Dilworth Trust.

Hugh is married to the Chief Justice, the Right Honourable Dame Sian Elias, and they have two adult sons, both graduates of The University of Auckland.

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11075 Economics Competition Programme 2012.indd 5 11/10/2011 2:45:07 PM Department of Economics staff profiles

Professor Basil Sharp BAgCom Canterbury, DipAgr, DipVFM Lincoln(NZ), MS, PhD Wisconsin Head of Department of Economics Basil has a PhD from the University of Wisconsin-Madison, where he majored in the economics of natural resources. He joined The University of Auckland in 1990 after holding a position at the University of Canterbury for ten years. Basil specialises in the economics of natural resources, and is particularly interested in applying economic models to contemporary resource issues in New Zealand. He has advised government on water management, energy policy, and assisted with the introduction of New Zealand’s world leading fisheries management system. It is quite common that impacts associated with resource development are not priced in the market. Basil, with colleagues at Lincoln University, led the development of non-market valuation methods in New Zealand. These methods now find application in the Environment Court dealing with hydro-electricity development, the allocation of water between competing uses and resource consents for wind farms. Basil is director of the Energy Centre at The University of Auckland, which undertakes research on energy and resource markets, and transport economics, that is of relevance to business and the community. The Centre offers numerous courses, including a national summer school on energy economics. He has also consulted private and public sector clients and is associate editor of the Australian Journal of Agricultural and Resource Economics.

Associate Professor Matthew Ryan BA, BCA(Hons) Wellington, MA, PhD Yale Deputy Head of Department of Economics Matthew was an undergraduate student at The University of Auckland from 1986-89, majoring in economics and philosophy. He has a PhD in Economics from Yale University and specialises in microeconomic theory. Matthew’s research is largely concerned with the mathematical modelling of economic systems and he is a co-founder of the Centre for Mathematical Social Sciences (CMSS), based in the Department of Mathematics at The University of Auckland. His work includes the analysis of internet auction markets, such as TradeMe, where he and his collaborators have studied the seller’s optimal choice of reserve price, optimal re-listing decisions and the effects of seller bidding on auction revenues, amongst other issues. Matthew is an associate editor of New Zealand Economic Papers.

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11075 Economics Competition Programme 2012.indd 6 11/10/2011 2:45:07 PM Department of Economics staff profiles

Professor Tim Hazledine MA Canterbury, Otago, PhD Warwick Professor Tim Hazledine is a specialist in the economics of firms and markets, which is also known as Industrial Organisation (IO). Born and brought up in Dunedin, Tim was educated at the Universities of Otago and Canterbury before heading overseas to study for his PhD at the University of Warwick. During his 20-year OE, he taught at Warwick, Balliol College Oxford, Queen’s University in Ontario and the University of British Columbia in Vancouver, and also worked for the Canadian Government and as an independent consultant. Tim’s research and policy interests include the application of economic analysis to resource management policy in New Zealand, as well as the ever-interesting issue of pricing and competition in national and international airline markets. The latter topic was spurred by his involvement several years ago in the well-known Air New Zealand/Qantas strategic alliance competition case, where it became apparent that there were a number of gaps in our understanding of how competing airlines set their prices, and also how the new low-cost carrier business model would impact established or “legacy” airlines.

Tim’s research has resulted in published papers extending our useful knowledge of how airlines use revenue management to increase their passenger yields and the implications this has on viable business strategies, competition and regulation.

Richard Frogley BCA, MCA(Hons) Wellington Richard was the national winner of the New Zealand Economics Competition when it was run for the first time in 1997. Since then he has completed a Bachelor of Commerce, majoring in Economics and Econometrics, and a Master of Commerce with first class honours in Economics at Victoria University of Wellington. He has worked as an investment strategist with AMP Capital Investors in Wellington and London. He also spent four years working as an investment strategist with the New Zealand Superannuation Fund in Auckland. Richard currently tutors microeconomics and macroeconomics at The University of Auckland.

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11075 Economics Competition Programme 2012.indd 7 11/10/2011 2:45:07 PM New Zealand Economics Competition 2011 Merit List

High Distinction Awards Year Alex Ainsworth 12 Sam Allan Aquinas College 13 Petar Andrejic Onslow College 12 Alen Aniyan Meenchira Wellington College 13 Sylvie Arnerich Wellington East Girls' College 12 Harkaran Aujla Taupo-nui-a-Tia College 13 James Kenta Azuma 12 Daniel Baider Hutt International Boys' School 13 George Barlow Hamilton Boys' High School 12 Chris Barrett St Peter's College (Auckland) 12 William Bowden Whangarei Boys' High School 12 Lauren Broughton Newlands College 13 Michelle Bull Kapiti College 12 Parit Burintrathikul 13 Sam Butcher Middleton Grange School 12 Ben Chambers Mt Albert Grammar School 13 An Ran Chen 13 Angus Cheng St Kentigern College 13 Henry Chittock Mt Albert Grammar School 13 Ryan Clark 12 Blake Clifford A.C.G. Strathallan College 12 Thomas Clout Tauranga Boys' College 13 Brent Coleman Hamilton Boys' High School 12 Joel Collingwood Napier Boys' High School 12 Yvette Coyle Wellington East Girls' College 12 Michael Crowcroft 13 Lorenzo Culiat A.C.G. Strathallan College 13 William Cunniffe 13 Joshua Dawson Otago Boys' High School 12

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11075 Economics Competition Programme 2012.indd 8 11/10/2011 2:45:07 PM New Zealand Economics Competition 2011 Merit List

High Distinction Awards Year Sam Donaldson Onslow College 13 Callum Dudson Shirley Boys' High School 13 Alice Dunn Tawa College 12 Adam Dyhrberg Kapiti College 12 Rebekah Fistonich Waikato Diocesan School For Girls 13 Joseph Foster Rangitoto College 12 Matthew Fouhy Westlake Boys' High School 13 Riki Fujii Macleans College 12 Jessica Furmanski Rangitoto College 12 Melissa Gale 12 Rebecca Gan Onslow College 13 Chino Jose Garcia San Diego Macleans College 13 Jack Gifford Greymouth High School 13 Ashford Gill Westlake Boys' High School 12 Ben Goh 12 Jonathan Graham Hillcrest High School 13 Jonathan Heslop Ellesmere College 13 Jason Hira Hamilton Boys' High School 13 Samuel Irvine Palmerston North Boys' High School 13 Ashlee Kang 13 Raseong Kee Auckland International College 13 Olivia Kennedy Westlake Girls' High School 12 Sam Kirk Palmerston North Boys' High School 13 Thomas Kirk Taieri College 13 Joe Kirtley Aquinas College 12 Jeremy Koh St Peter's College (Auckland) 13 Hamish Kumar St Peter's College (Auckland) 12 Abhay Lamba Auckland Grammar School 12 Bruno Lane Auckland Grammar School 13

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11075 Economics Competition Programme 2012.indd 9 11/10/2011 2:45:07 PM New Zealand Economics Competition 2011 Merit List

High Distinction Awards Year Thomas Langley Westlake Boys' High School 12 Henry Law 12 Seunghyun Lee Rangitoto College 12 Lisa Liu Hillcrest High School 13 Dillon Logan Pukekohe High School 13 Page Logan Samuel Marsden Collegiate School 13 Wei Jian Loh Auckland Grammar School 12 Vivan Maheshwari Auckland Grammar School 12 Jack Manning Auckland Grammar School 12 Jack Matthes Onslow College 12 Drew McCartie Westlake Boys' High School 12 Thomas McLaughlin Hamilton Boys' High School 12 Stella McMullen Napier Girls' High School 13 Perzaan Mehta Botany Downs Secondary College 12 Brooklyn Mellar Sacred Heart Girls' College (Hamilton) 12 Jack Mellor Nelson College 11 Abigail Miles Palmerston North Girls' High School 12 Matthew Mills Glendowie College 13 Petr Morgoun Nayland College 13 Nenad Naumovski Rutherford College 12 Jeremy O'Connor James Hargest College 13 William Ogden Hutt International Boys' School 12 Sangmin Oh Cambridge High School 13 Axel Olsthoorn Onslow College 12 Richard Ong Auckland Grammar School 13 Matthew Page Palmerston North Boys' High School 12 Ravi Harish Patel Palmerston North Boys' High School 13 Jasmine Payne Diocesan School For Girls 13 Samuel Pease St Peter's College (Auckland) 12

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11075 Economics Competition Programme 2012.indd 10 11/10/2011 2:45:07 PM New Zealand Economics Competition 2011 Merit List

High Distinction Awards Year Nicky Penhall Napier Boys' High School 12 Christopher Perriam Rosmini College 13 Freyja Petursson Sacred Heart Girls' College (Hamilton) 11 Axton Dean Pitt Hamilton Boys' High School 13 Conor Pope-Moody Kapiti College 13 Joseph Pratt Rangitoto College 12 Hannah Prior FAHS - Feilding High School 12 Benjamin Reynolds Westlake Boys' High School 13 Joseph Ringrose Kapiti College 12 David Robinson Wellington College 13 Jaya Sharma A.C.G. Senior College of N.Z. 13 Alexandro Sikiotis Hamilton Boys' High School 13 David Sim Newlands College 12 Ashwin Singh Auckland Grammar School 13 Nikaela Smith Sacred Heart Girls' College (Hamilton) 12 Mitchell Smitheram Kristin School 12 David Somerville Wellington College 13 Chuyu Song Auckland International College 12 Yo-Der Song Macleans College 11 Thomas St George Napier Boys' High School 12 Megan Still Rutherford College 12 Alessandro Stollenwerk A.C.G. Senior College of N.Z. 13 David Stone Aquinas College 11 Patrick Sun Dilworth School 13 Stephen Sutjipto Hamilton Boys' High School 12 Benny Tan Macleans College 12 Zepplin Toomer Rathkeale College 12 Nicholas Twort St Peter's College (Auckland) 12 Lee Van Der Lem Kings High School (Dunedin) 12

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11075 Economics Competition Programme 2012.indd 11 11/10/2011 2:45:07 PM New Zealand Economics Competition 2011 Merit List

High Distinction Awards Year Florian Virtosu Onslow College 13 Sam Viskovich Westlake Boys' High School 13 Shuang Wang Rangitoto College 13 Te Wen Auckland Grammar School 12 Tegan Weston Waimea College 13 Jack Weterings Tauhara College 12 Sally Whineray Diocesan School For Girls 12 Cullen Wooller Wentworth College 13 Kristyan Wright Mt Albert Grammar School 13 Bobby Yang Kristin School 12 Sumin Yoon Sacred Heart Girls' College (Hamilton) 12 David You Auckland Grammar School 12 Denny Zhang Macleans College 13

High Distinction - $75 prize Year Mitchell Barrow-Kay Northcote College 13 Zachary Clarke A.C.G. Senior College of N.Z. 13 Matthew Harvey A.C.G. Parnell College 12 Jefferson King Auckland Grammar School 13 Junchi Liu Westlake Boys' High School 12 James Woods Macleans College 13 Harry Yoon Hamilton Boys' High School 13

High Distinction - $100 prize Year Mitchell Allan Heslip John McGlashan College 12 Robert Zhang Auckland Grammar School 13

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11075 Economics Competition Programme 2012.indd 12 11/10/2011 2:45:07 PM New Zealand Economics ompetition 2011 Merit List High Distinction - $150 prize Year Hayden Berkers Te Awamutu College 12 Ryan Smith Tauranga Boys' College 13

High Distinction - $200 prize Year Jonty Blundell Rathkeale College 13 Callum McPetrie Tawa College 13 Naum Naumovski Rutherford College 13 Hemanth Pemmaraju Auckland Grammar School 12 Lingliang Zhang Macleans College 13

High Distinction - $250 prize Year Raymond Lee Macleans College 13 Cameron McNae Nelson College 11

High Distinction - $300 prize Year Joe Ascroft John McGlashan College 12 Matthew Skiffington Hamilton Boys' High School 13

National winners - trophy and $400 prize Year Division 1 Oliver Brown A.C.G. Parnell College 13

Division 2 Harrison Bell Auckland Grammar School 12

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11075 Economics Competition Programme 2012.indd 13 11/10/2011 2:45:07 PM Congratulations everyone on your excellent performance!

Thank you all very much for taking part in the 2011 New Zealand Economics Competition.

It has been our pleasure to acknowledge the students’ outstanding performance.

Refreshments are available in the main foyer of the Owen G Glenn Building and we look forward to meeting and talking with you.

Please take the opportunity to talk with some of the students from our economics club on campus. The aim of the Make a Difference with Economics (MADE) club is to supplement academic studies with real world engagement. Students learn how economics can empower communities and influence policy.

MADE students are also available to talk about studying Economics at The University of Auckland. You can identify them by their black Business School t-shirts and this logo on their name badges:

Photographer The photographer is available and very happy to take individual and group photos. Photo booth The photo booth in the main foyer is available to all at no cost– jump in with your classmates, parents or teachers.

All photos will be uploaded to the Business School’s Facebook page (www.facebook.com/ auckunibusiness) after the function and electronic copies will be available at no cost. You may obtain copies by emailing [email protected] and quoting the number of the photo in the Facebook album.

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