OUTSTANDING ECONOMICS TEACHER AWARD 2025

In celebration of the Economic Society of Singapore's (ESS) 69th anniversary, we were honoured to have Senior Minister Lee Hsien Loong as our Guest-of-Honour and Keynote Speaker. On this occasion, Senior Minister Lee was conferred the 6th Distinguished Fellow of the Economic Society of Singapore, the Society’s highest lifetime accolade, in recognition of his outstanding contributions to the advancement of economics in public life in Singapore.

The ASEAN+3 Regional Economic Outlook 2025 was held on 11 June 2025, both online and onsite at ESSEC Asia-Pacific. The event was moderated by Mr Allen Ng and featured three distinguished panelists: Mr Manu Bhaskaran, Ms Selena Ling and Dr Taimur Baig. The speakers discussed ASEAN+3’s macroeconomic prospects and challenges given large trade shock and high uncertainties, amongst others. A key challenge for the region is not only to reignite growth, but also to revitalize it. They highlighted five key policy themes toward stronger sustainable growth paths for the region: (1) Upgrading manufacturing capabilities, (2) Prioritizing high skills and quality services, (3) Closing investment gaps, (4) Boosting innovation and leveraging on technology and (5) Strengthening state capacity.

The three speakers highlighted the complex interplay between technology, skills, and policy in preparing for the future of work. One speaker emphasizes that while technological innovation drives productivity and living standards, it also causes job disruptions and is shaped by global challenges like geopolitical tensions, urging future workers to navigate both opportunities and risks. Another focuses on the importance of identifying and developing human attributes — especially those undervalued in formal education — that offer a comparative advantage over AI. The third speaker discusses the role of government in equipping Singapore’s workforce for the future, advocating for targeted, evidence-based interventions that align with the country's unique economic and social context amidst shifting labour trends.

Dr. Taimur Baig and Ms. Jean Chia shared sharp, thought-provoking takes on the global economy, with a clear focus on staying resilient in a rapidly changing world. Dr. Baig pointed out how politics, policy, and market moods are all tangled up, warning against unrealistic economic expectations—like wanting low inflation while tightening immigration. He flagged Europe’s aging population and energy issues, China’s possible pivot back to growth, and Singapore’s “golden age” of investment, though he stressed it’ll need to stay flexible to keep its edge. Ms. Chia echoed the need for adaptability, noting that while global growth is settling, it’s uneven—Asia’s doing well, but inflation and geopolitical tensions are still big concerns. She also highlighted new opportunities (and risks) tied to AI and the energy shift. Bottom line: staying agile, thinking long-term, and being ready for change is more important than ever.

MAS-ESS Essay Competition 2025 Winners: The theme of this year’s MAS–ESS Essay Competition was “Building Singapore’s Digital Asset Ecosystem: Opportunities and Challenges.” The competition drew strong interest, with a total of 153 submissions received from local junior colleges and full-time national servicemen (NSFs). The organising committee was chaired by Ms Maureen de Rooij (The Executive Forum Singapore), Council Member of ESS. The essays were evaluated by a distinguished panel of economists and policy experts, led by Chief Judge Ms Selena Ling (OCBC), and included Dr Taimur Baig (DBS), Mr Manu Bhaskaran (Centennial Asia Advisors), Dr Chua Hak Bin (Maybank), Dr Prakash Kannan (GIC), Mr Vikram Khanna (The Straits Times), Mr Marcus Fum (MAS), Dr Tan Hi Lin (CCCS), Associate Professor Tan Swee Liang (SMU), Mr Franky Tanudjojo (Standard Chartered), Dr Harold Teng (NUS), Ms Yong Yik Wei (MTI), Ms Ashima Tyagi (S&P Global Market Intelligence), Mr Eugene Or (SER), Ms Vanessa Yiak (MOE) and Associate Professor Chang Youngho (SUSS). The Society extends its sincere appreciation to the Monetary Authority of Singapore (MAS) for its generous sponsorship of the competition prizes and its sincere appreciation to all judges for their time and expertise in supporting this initiative

On 19 February 2025, the ESS held the post-Singapore Budget 2025 panel discussion at Voco Orchard. The event was chaired by Mr Vikram Khanna and featured five distinguished panellists: Mr Suan Teck Kin, Dr Laura Wu, Mr Chua Han Teng, Dr Walter Theseira and Mr Peter Lim.