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Faolán Ó Cathmhaoil, 5th Year student in Coláiste Oiriall, is the overall winner of the prestigious Young Economist of the Year.

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Fógraíodh ag searmanas fíorúil go bhfuil gradam Eacnamaí Óg na Bliana seo bronnta ar Fhaolán Ó Cathmhaol bunaithe ar a thionscnamh agus ar a thuairisc dar teideal Inbhunaitheacht Eacnamaíoch na nInnéacs-Chistí do Mhargaí Cothromais. Chuir 1,000 iontáil ar fad isteach ar an chomórtas agus rinneadh gearrliostú síos go dtí 200. Fógraíodh coicís ó shin go raibh obair Fhaoláin ar cheann den 50 iontráil a fuair bonn óir agus a chuir é san áireamh don ollghradam mór iomraiteach náisiúnta.

Faolán Ó Cathmhaoil, 5th Year student in Coláiste Oiriall, is the overall winner of the prestigious Young Economist of the Year. The accolade was announced on Friday at an online ceremony hosted by UCD School of Education and the PDST Team.

From the 1,000 entries, 200 were shortlisted for medals. 50 students were awarded gold medal status to enable them for further shortlisting for placings in the 4 main categories and overall prize. Approximately 50 entries were awarded silver medals while a further100 entries awarded bronze medals. We were aware that Faolán was a Gold Medal recipient but had no idea that he would clinch the overall title.

It is no exaggeration to say that the adjudicators were extremely impressed by  Faolán’s entry which was entitled ‘The Economic Sustainability of Index-Funds for Equity Markets’. Faolán’s submission looked at the rise in popularity of passive index funds and ETFs as investment vehicles in equity markets in recent years. He looked at why these funds have become so popular, the benefits they provide for investors, some risks they might pose in terms of price efficiency, liquidity, and governance, and whether they might play a role in the next financial crisis as some critics have claimed.

Labhair cainteoirí ón PDST agus ó Bhanc Ceannais na hÉireann chomh maith le hollaimh ó na hOllscoileanna ag an searmanas ceiliúrtha ar líne Dé hAoine seo chuaigh thart. Dé ghnáth bheadh an ócáid beo i UCD ach amháin na srianta COVID-19. Fograíodh buaiteoirí rannóga ar dtús agus ansin Faolán mar ollbhuaiteoir agus labhair sé féin díreach go ceamra ag cur síos ar a thionscnamh.

Faolán receives a €500 bursary, a work placement in the Central Bank, gold medal, certificate and a possible opportunity to be a member of the Irish team at the International Economics Olympiad next year. Agus sin uilig tuillte go maith aige!

The Business Department in Coláiste Oiriall, Diarmuid Mac Cionna, Seán Mac Thaidhg and Fiona Ní Pheatáin wish to compliment Faolán on his meticulous, independent research and his presentation skills and congratulate his on this wonderful achievement.

The welcome address was delivered by Ciara O’Donnell – National Director of the Professional Development Service for Teachers (PDST) and the special guests were Paschal Donohoe, T.D. Minister for Finance and Public Expenditure and Reform and Gabriel Makhlouf, Governor of the Central Bank of Ireland, Associate Professor  Anne Nolan – President of the Irish Economic Association (IEA) and Jasmina Behan - Head of IGEES, Department of Public Expenditure and Reform explained why they believe Young Economist of the Year is important

As PDST/IEA overall winner, Faolán receives a specially designed medal, a bursary of €500 and will also be given a two-week work placement with the Central Bank of Ireland. The work placement will be arranged over the summer of 2020 at a time to be mutually agreed between Faolán and the Central Bank – subject to COVID-19 restrictions.

The competition an initiative of the Professional Development Service for Teachers (PDST) supported by the Irish Economic Association (IEA) the Irish Government Economic and Evaluation Service (IGEES), the Central Bank of Ireland, the Department of Communications, Climate Action & Environment, the Economic and Social Research Institute (ESRI) the Business Studies Teachers Association of Ireland (BSTAI), Laois Education Centre  and economics and education departments in Maynooth University, NUI Galway, UCD, UCC, Trinity College Dublin and the University of Limerick.

Tá gach duine i gColáiste Oiriall, go speisialta an Roinn Gnó an-bhródúil as Faolán as an tuairisc ar chaighdeán den scoth a chuir sé le chéile go neámhspleách agus an gradan seo a bhaint. Tá baint ag gach ollscoil in Éirinn agus agus ag Banc Ceannais na hÉireann leis an tionscnamh seo agus iad ag iarraidh an t-ábhar Eacnamaíocht a chur chun cinn sna hiarbhunscoileanna. Gheobhaidh Faolán sparánacht €500, deis socrúchán oibre a dhéanamh i mBanc Ceannais na hÉireann agus seans bheith mar bhall de fhoireann na hÉireann ag an Oilimpiad Idirnáisiúnta Eacnamaíochta amach anseo.