Photo: rba.gov.au

The competition was run in conjunction with the Economic Society of Australia (ESA) and the UNSW Economics Society.

Students were asked how a low interest rate environment might affect conventional monetary policy transmission channels, and to discuss alternative economic policy options. High-quality essays were received from students studying at a wide range of universities.

Congratulations to our winners:

• First prize ($2,000): Elizabeth Baldwin, University of Queensland
• Second prize ($1,000): Shaun Ji-Thompson, University of Queensland
• Best essay from a first year student ($500): Timothy Grey, University of Sydney

A presentation ceremony, to be hosted by the Reserve Bank of Australia, will be held in October 2016.