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24 Feb 2017

Students from Australian International School discuss Economics with Nobel Prize winner

Published by Rachel Bennett

The Australian International School (AIS) was honoured today to host Professor Robert F. Engle III, who received the Nobel Prize for Economics in 2003. He visited AIS as part of the School’s extensive Mentors and Inventors program.

During his time at AIS, Professor Engle gave a Keynote Speech to students from AIS and Nanyang Junior College, parents and dignitaries including the Deputy High Commissioner for Australia in Singapore, Mr Adrian Lochrin. Professor Engle further engaged with students and the academic team at an economics masterclass session where they discussed the impact of worldwide events on economics, the regulation of the fnancial market and whether the sector is more volatile at the moment than ever before.

Head of School, Simon Leslie, also gave Professor Engle a tour of the school’s facilities and discussed the importance of inspiring the next generation.

Among many other notable achievements, Professor Engle, who currently teaches at New York University at the Stern School of Business, has made a ground-breaking discovery of a method for analysing unpredictable movements in financial market prices and interest rates and his statistical models have become essential tools of modern finance theories and practice. As part of his Keynote speech he referenced the different levels of risk currently being experienced across globe and commented that: “Risk must be allowed for the global economy to flourish but we must take steps to protect ourselves from a future financial crisis. It is my opinion that we must stimulate the global economy by investing in infrastructure and education.

“In regards to economics and education, we must try to introduce the subject to children at a much younger age to make it less intimidating and more accessible.”

The Australian International School’s Mentors and Inventors program sees internationally renowned thought leaders and experts visit the school in a series of lectures and round table discussions to inspire the community and students to achieve excellence.

Mr Leslie explained: “At AIS, we are continually looking for ways that we can inspire our students to strive for more and become responsible citizens of tomorrow. Inviting eminent academics, respected sportspeople and world-renowned leaders to engage with our community is just one way in which we bring our teaching to life and encourage our students to apply their learning and think wider than themselves.”

Amelia Woodward, Student Captain at AIS, who attended the Keynote speech and Masterclass session with Professor Engle said: "As a student, I still can't quite believe that I have the opportunity to meet and learn from a Nobel Laureate through the AIS Mentors and Inventors program. It was an absolute honour to hear from Professor Engle. His prolific work in creating mechanisms to analyse market volatility, and further, in improving econometric knowledge globally, is both inspiring and fascinating. Discussing his work and pertinent global economic issues has been invaluable for myself and my peers.”

The visit from Professor Engle is due to the School’s partnership with the International Peace Foundation (IPF) and its ‘Bridges’ program which has seen several Nobel Laureates visit AIS and its sister school, Stamford American International School since 2015. The next esteemed guest for 2017 is Professor Peter Agre, Nobel Laureate for Chemistry who is visiting AIS on Monday, 20 March.

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