Sixth-former Hardik Ingale won a visit to Downing Street and a tour of the Treasury after reaching the final of the Young Economist of the Year competition.
Hardik’s essay was one of only five entries to reach the final in the Discover Economics contest, which was backed by the Royal Economic Society.
He impressed the judges with his carefully researched exploration of How can economics explain the high price of a supercar?
Head of Economics Krishna Shah said: “Hardik entered the competition on his own initiative during the summer holidays and was meticulous in his approach. I congratulate him on this considerable success.”
Hardik’s choice of topic reflected his interest in Formula One.
His research included:
- Academic articles from the JSTOR digital library;
- Online articles offering diverse perspectives;
- YouTube videos explaining supercar production and market dynamics;
- Investigation into car companies, their products, and economic strategies.
His central argument was that the high price of supercars could be attributed to multiple economic factors – including high manufacturing costs, the costs involved in developing technological innovation and in maintaining the exclusivity of a brand, and the dominance of a small number of firms in this market. Most of all, though, he placed a strong emphasis on psychological factors – including the motivations consumers, who buy supercars for their value as status symbols.
The final of the competition was held at accountants’ KPMG’s offices. Hardik, who is in Year 12, gave a ten-minute presentation, which was followed by a five-minute question-and-answer session with the judges, who were drawn from Government policy bodies as well as the Financial Times, who sponsored the competition, together with KPMG UK.
Hardik, who hopes to read Economics or Finance at university, described his trip to Downing Street as “amazing”. As well as being photographed outside Number 10, he visited 11 Downing Street, the official residence of the Chancellor of the Exchequer, meeting the head of the Government Economic Service, Sam Beckett. He also toured the Treasury and met officials there, enjoying some discussions about careers in public service and government. The day even included meeting Number 10’s famous feline resident, Larry the cat!
Delivered at the Royal Geographical Society in Kensington, London, it proved a revelation to many. Year 13’s Hitarth Patel said: “I found the extent to which inequality is prevalent within the UK astonishing,” and Shravan Jayaprakash, of Year 12, described the lecture as “an exhilarating experience which broadened my perspectives about many issues in our country today, especially the widening inequality we face”.
He has spoken on radio, featured on television and written newspaper articles. He is the author of more than 20 books, including two published in 2024 – Seven Children: Inequality and the Geography of a Failing State, and Peak Injustice: Solving Britain’s Inequality Crisis – and one which came out this year, The Next Crisis: What We Think about the Future.
His name was announced in front of more than 5,000 international scientists and doctors at the European Human Genetics Conference in Milan.
The task set for the entrants was: Please, discuss the importance of understanding genetic diversity for health and disease. Support your example with specific DNA variants and genes.
“So next time you hear about a groundbreaking genetic discovery, ask yourself: ‘Who does this benefit, and who’s being left behind?’ Because science should serve all of humanity, not just a select few.”
Under the overall theme of International Relations, the 24th edition of the publication includes a special front section headed Has Trump damaged the dollar? which looks at the impact of tariffs and at the dollar’s role as the world’s reserve currency.
Contributors come from Years 9–11. Many illustrate their articles with tables and graphs.