At the end of June, Pao High School hosted the award ceremony for the Egon Sohmen Economics Competition, a prestigious event designed to celebrate critical thinking and academic rigor. James Lyng, the high school principal, was present to honour the winning teams and commend the students for their courage and exceptional ability in applying economic principles to address complex global issues. Faculty and students who had gathered to witness the moment expressed their admiration for the deep insights and unique perspectives applied by Pao School's ‘Young Economists’ to pressing economic topics worldwide.
The Egon Sohmen Economics Award is sponsored by the Egon Sohmen Foundation at Pao High School. It honours the renowned economist Professor Egon Sohmen, while preserving his dedication to exploration and innovation in academia. The competition encourages active exploration of real-world economic issues, employing the intellectual tools of economic analysis to address them. The competition is organised by the Economics and Business Department of Pao High School.
About Professor Egon Sohmen:
Egon Sohmen (1930–1977) was born in Linz, Austria, and became a world-renowned economist. He held teaching and research positions at prestigious institutions such as MIT, Yale University, and Heidelberg University. He made significant contributions to the field of macroeconomics, particularly in exchange rate theory, international finance, and economic policy. Professor Egon Sohmen has a deep connection to Pao School, as the uncle of Mr. Philip Sohmen, the Founder and Executive Deputy Chairman of the school.
This year's competition was organized by Ms. Sophia Lu, the Head of the Year 10 Team and an economics teacher, along with Mr. Andrew Craig, the Head of the Economics and Business Department. Together, they oversaw topic selection, promotion, and the preliminary selection process. The entire economics department helped them to complete the final evaluation. Since beginning, the scale of the competition has risen from forty participants to almost one hundred, demonstrating increasing influence and popularity each year.
Each year, the competition focuses on a set of economic challenges faced by various countries across the world. Students work in groups of two to three to conduct case studies and then apply their macroeconomic knowledge to draft policy recommendations. As Ms. Lu noted, the concepts utilised in the competition are closely tied to those taught in the classroom. While enhancing understanding of current events, the competition cultivates skills essential to IB education, including research, critical thinking, teamwork, creative expression, and video presentation.
The IB Economics curriculum at Pao School emphasises systematic and critical thinking within a comprehensive framework that spans microeconomics, macroeconomics, and global economic issues. Among the core topics are competitive markets, government intervention, and economic development. By integrating theoretical analysis with real-world challenges such as trade protectionism and sustainable development, the curriculum encourages students to apply economic tools effectively, while adopting a holistic perspective. This approach equips them with the analytical skills needed to navigate complex economic phenomena.
This year's competition explored the uncertainties surrounding current trade policies and geopolitical economics, with a particular focus on the Canadian economy. It presented two core topics for consideration:
Topic One: What measures can the Canadian government implement to support its steel and aluminium industries in tackling the challenges posed by shifts in the international trade environment?
Topic Two: If the trade relationship between Canada and the United States undergoes changes in the future, what potential impacts might this have on the Canadian macroeconomy? In this scenario, how can macroeconomic policy be designed to ensure stable economic performance?
As in previous iterations of the competition, participants engaged in video presentations. Each team was given three months to conduct research into the selected problem and then produce a video of no more than ten minutes length, in which they proposed a solution. Of the 30 teams and nearly 100 students initially entering the competition, twenty teams successfully submitted high-quality video projects, setting a new record for participation.
Mr. Craig commended the students for their remarkable performances. He noted that the submitted videos were a testament to their impressive abilities in economic analysis, visual expression, and creative editing. This combination of talents enabled the outstanding critical thinking, creativity, curiosity, and global awareness that Pao School students possess. Through their work, the students effectively illustrated the real-world significance and far-reaching impact of macroeconomics, bringing the subject to life in a compelling manner.
Egon Sohmen Economics Competition 2025 Award Ceremony Group Photo - First Prize Winners
Sophia Lu (Head of Y10 and High School Economics and Business Teacher), Jessica Tang(Y10), Jolie Zhou(Y10), Candy Tang(Y11), James Lyng (High School Principal), Andrew Craig ( Head of Economics and Business Department)
Egon Sohmen Economics Competition 2025 Award Ceremony Group Photo - Second Prize Winners
Sophia Lu (Head of Y10 and High School Economics and Business Teacher), Ariel Lu (Y11), Fiona He (Y11), James Lyng (High School Principal), Austin Yuan (Y12), Brook Huang (Y12), Alex Huang (Y12), Andrew Craig (Head of Economics and Business Department)
Egon Sohmen Economics Competition 2025 Award Ceremony Group Photo - Third Prize Winners
James Lyng (High School Principal), Anges Liu (Y10), Daniel Zhu (Y10), Kenny Lin (Y10), Frank Zhou (Class of 2025)，Sophia Lu (Head of Y10 and High School Economics and Business Teacher), Andrew Craig (Head of Economics and Business Department)
Award-Winning Student Jolie Zhou (Year 10)：
I'm fascinated by how economics is not only a discipline that requires logical thinking and mathematical abilities, but also one that is deeply concerned with human welfare. This perfect combination greatly appeals to me. By participating in the 2025 Egon Sohmen competition, I was able to explore the historical context of U.S.-Canada trade relations, highlighting how tariffs have evolved over the years and their impact on bilateral trade agreements.
Award-Winning Student Pekkie Xie (Year 10):
Egon Sohmen's competition provided those of us who are just starting out on our high school life with an excellent opportunity for learning and growth. Through a connection to current economic topics, we were encouraged to adopt an alternative national perspective. From small personal choices to complex international relations, I came to understand that economics is not just about charts and formulas, but is also a tool for us to interpret the complexity of the world. This is exactly why I love economics.
Award-Winning Student Candy Tang (Year 11):
My interest in economics began when I conducted research into the US Federal Reserve for a middle school debate. Historical events such as the Great Depression and the 2008 financial crisis caught my attention, leading me to choose IGCSE Economics. It quickly became the class that I most looked forward to each day—the teacher’s humorous and patient teaching, along with his way of connecting theory to real-life problems, made me love the subject. I brought this enthusiasm to the Egon Sohmen competition for the first time in Year 9. Although we didn’t win, we reflected upon our performance and gained experience. In Year 10, we tried again—and this time, we won! The competition experience was truly rewarding as we were given an opportunity to research and analyze real-life international economic issues and apply our economic knowledge in order to propose suitable solutions.
Award-Winning Student Jessica Tang (Year 10):
This competition expanded my knowledge and helped me better understand how economic concepts apply in the real world. It also encouraged us to use this understanding to think creatively about potential solutions to a variety of problems.
