for the public understanding of economics and entrepreneurship

Institute of International Monetary Research, Vinson Centre and Institute of Economic Affairs Monetary Policy Essay competition 2021-22

Essay title

Entrants should write an essay on “Does inflation matter? And will the current inflation upturn be transitory or not?”

The Submission and Style Requirements

Entries should be no longer than 2,500 words long. Entries should include a bibliography and Harvard style referencing. References will count towards the word total but the bibliography will not. The text should be double spaced, on A4 pages, in Arial size 12 font.

How to Enter

All entries to the competition should be submitted by 23.59.59 on Friday 21st January 2022. They should be submitted in electronic form to Entrant name and contact details should be clear in the subject of the email but not on the essay attachment itself (it is important you do not include your name or contact details within the attachment as entries will be anonymised before being viewed by judges).


The entries will be reviewed by a panel of judges and the authors of the top five entries will be invited to the Essay Prize Final (including meeting with the judges) at the Vinson Centre at the University of Buckingham in March. We welcome international entries, but all entrants must be able to attend the final in person.


The winning entry will receive a prize of £1,000. There is also a second prize of £300 and a third prize of £200.

The entries will be judged on the criteria of knowledge and understanding of the economic issues raised by the challenge, use of resources, the quality and clarity of the argument and analysis presented, and the degree of originality and insight displayed. They will not be judged on the basis of adherence to a particular perspective regardless of quality or the other considerations set out.

About Institute of International Monetary Research

The purpose of the Institute of International Monetary Research is to demonstrate and bring to public attention the strong relationship between the quantity of money on the one hand, and the levels of national income and expenditure on the other. The Institute – which is associated with the University of Buckingham in England – was set up in 2014, in the aftermath of the Great Financial Crisis (a.k.a., “the Great Recession”) of 2007 – 2009. It is an educational charity.

About the Vinson Centre

The Vinson Centre for the public understanding of economics and entrepreneurship is a space for research and knowledge exchange at the University of Buckingham where individuals and teams come together to pursue exciting projects in novel ways. There is a focus on promoting a wider appreciation of classical liberal approaches to economic analysis.

About the Institute of Economic Affairs

The IEA is the UK’s original free-market think-tank, founded in 1955. Our mission is to improve understanding of the fundamental institutions of a free society by analysing and expounding the role of markets in solving economic and social problems. As part of this, the IEA runs an extensive student outreach programme including internships, summer schools, seminars and competitions. The IEA is an educational charity (No CC 235 351) and independent research institute limited by guarantee. Ideas and policies produced by the Institute are freely available from our website. The Institute is entirely independent of any political party or group, and is entirely funded by voluntary donations from individuals, companies and foundations.