The Office for National Statistics (ONS) Renaissance Prize is a competition that was launched to encourage and celebrate the development of economic thought and argument, using a statistical evidence base, among UK undergraduates.
This economics prize challenges applicants to reflect on the improved measurement of the modern economy. This annual competition is open to undergraduate students within the ONS and across all UK universities.Back to table of contents
Opening date: 21 January 2021
Closing date: 30 April 2021Back to table of contents
We are delighted to announce that this year’s winner is Wilson King, a student at the London School of Economics.
This year's winner of the Renaissance Prize considers the changes the coronavirus (COVID-19) pandemic has brought to the measurement of consumer prices. Wilson King, a student at the London School of Economics, describes how rapid changes in consumer spending patterns during the pandemic have induced weighting error, and how the curtailment of in-store price collection has led to measurement error. Mr King gives an excellent account of emerging evidence on these two problems, and also discusses the implications for different areas of policy, including monetary policy and the uprating of pensions and benefits. The judging panel noted that Mr King's essay stood out from a strong field for the comprehensiveness of the discussion, and for the clarity with which quite technical issues were explained.
Please note, the arguments and concepts outlined and explored in this essay are the opinions of the student authors and as such should not be taken as endorsed or representative of the ONS’s position on the essay theme.Back to table of contents