Organizer Introduction

The World Youth Economic Forum is being co-hosted by the Global Undergraduate Economic Forum and ASDAN from the UK.
Global Undergraduate Economic Forum is a student think-tank based at Yale University in the United States of America. It is a platform for undergraduate students across the Ivy League and other higher education institutions to debate issues of global importance in economics, international relations, politics, finance and development.

Message from
the Founder

On behalf of the World Youth Forum from Yale University, it is a pleasure to welcome you to this  annual event hosted in Shanghai. The forum is the first ever space for university and high school  students to congregate and discuss issues of global economic importance: issues that today’s leaders in finance, economics, and commerce strive to find solutions for.

The World Youth Economic Forum is being co-hosted by the Global Undergraduate Economic  Forum and ASDAN from the UK. This Forum will culminate in the creation of proposals and task  forces addressed to global change makers, of which the best will be implemented.

The World Youth Economic Forum exists as an exordium in your journey towards becoming an  aspiring global leader. It is a chance for you to apply the knowledge you gain in your classrooms, the  articles that you read in The Economist and the events that unfold in front of you on the news to solving global problems in the same way that global change makers do at the World Economic Forum.  The World Youth Economic Forum looks forward to welcoming you and to initiating a new form of  student interaction with business and economics.

Sincerely,

Aahan Bhojani
Founder of World Youth Economic Forum

Message from The Secretary General 2019

Dear Delegates,

Welcome to the 2019 World Youth Economic Forum! This conference presents an opportunity like no other, assembling a team of hundreds of young leaders from across the globe to address the most pressing economic issues of the modern day. This will be my fourth year to attend the conference, but each year I continue to be amazed at the level of intellect, passion, and insight shown by all participants. I am beyond excited to see what 2019’s conference will bring and hope that you are looking forward to this coming summer as much as I am.

The theme of this year’s conference is “The Puzzle of Global Economic Transformation: Uncovering the Missing Pieces,” which happens to closely echo the theme of the 2019 World Economic Forum. To me, the fact that the most prominent figures in economics and business chose this particular lens through which to review the current economic landscape confirms just how important and relevant this theme is to the modern economic dialogue. The propagation of globalization, the constant churn of technological innovation, and the rise of new age politics are the epicenters of economic change that has been felt in all corners of the globe. However, such rapid and intense changes have left world leaders, economists, and civilians alike grappling for solutions that are far from self-evident. Problems are now so nuanced that courses of action that seem to be solutions when viewed from one particular perspective can mutate into serious detriments when considered holistically. The struggle to identify solutions that are universally and immutably beneficial, assuming that those even exist, is highly similar to that of attempting a jigsaw puzzle while key pieces are missing. I hope that as you prepare for the conference, you keep this larger context in mind and evaluate how your ideas and proposals will impact the solutions to, not only the problems of today or the problems of a particular country or region but also the problems of tomorrow and the problems of the world as a whole.

It is my hope that during the conference, you will be stretched intellectually to consider perspectives that directly challenge your own and that you will be enriched personally by engaging in lively conversations with peers, whom on a surface level, seem entirely different from you. We have much to learn from and share with each other, I look forward to meeting you all in Shanghai and embarking upon what will surely be an unforgettable experience together!

Warmly,


Elizabeth Liu

Secretary-General, World Youth Economic Forum 2019

 

Why Us?

High Academic Quality

All directors come from top universities such as Yale, Harvard, Princeton, Oxford, Cambridge, etc. They will bring the world's current economic issues, information and cutting-edge academic discussions in the conference. The presidium will share their experiences on university applications and campus life with the delegates.

Creative Forum

The forum provides participants with 15 committees divided into different industries, and also designs three special committees for Business simulation and Media. Through those committees, delegates can dig to the core of international economy and be prepared to challenge global economic and business related issues.

International Conference

In the past seven years, more than 4000 delegates from over 21 countries attended the WYEF. This year over 1000 delegates will be invited with an international ratio reach of 25%.

Committee Standard

Each economic committee is designed to be small in size; giving opportunity to every delegate to express his/her mind freely.

Interactive Sessions

We will also have waltz training, business manner training to help delegates grow their interpersonal skills. During social event, delegates will be given a chance to show their talent.

Business Topic Based Workshops

Successful entrepreneurs and economists will share their insights on business in China. Optional sessions on career planning will also be available.

Awards

Each delegate will receive a certificate of participation from ASDAN China. All delegates and teams who win any awards, will also receive "Leadership" award from ASDAN UK.

What Do They Say?

“You get to know students from all over the world! ”

Gizem Tan   
WYEF 2017 Participant
Gymnasium Liestal

“All the hard work payed off when I was awarded the Best Delegate!”

Jose Manso
WYEF 2017 Participant
Kantonsschule am Bruehl

Conference Workshop

VIP Business Keynote Speaker

VIP Business Keynote Speaker

Business Etiquette

Business Etiquette

Economic Lecture

Economic Lecture

Masked Ball

Masked Ball

Career Planning

Career Planning

Ivy League Session

Ivy League Session

Waltz Training

Waltz Training

American Campus Life

American Campus Life

Awards

2019 Committees

The Puzzle of Global Economic Transformation: Uncovering the Missing Pieces.

1. The Housing Market
Ten years after the financial crisis of 2008, the world is still recovering from the seismic shocks induced by the collapse of the US housing market. During our committee sessions, we will begin by analyzing the details of how such a systemic problem came to exist in the United States, the factors that contributed to perpetuating the US property bubble, and the events that sparked the market to finally crash. Then, our committee will move on to explore broader questions that pertain to other global economies. Have there been other bubbles like this before? How can countries learn from financial crises and take the necessary steps to prevent systemic market crashes? These are some of the crucial questions that economic leaders around the world continue to ask, and our committee will work together to arrive at thoughtful answers to these intricate problems.
2. Economics of Warfare

As people living together on one planet, we must understand the very fragile relationship between one another. Threatening the peace of our daily lives is one of humanity’s great blights: warfare. In the Economics of Warfare committee, we will learn about the economic principles that can be used to explain human behavior in times of war. By understanding this theory, we will be able to better explain real-world examples of warfare’s past and present. Throughout the conference, we will make it our goal to use this information to better understand and explain the critical future of warfare.

3. Financial Crises
The Understanding and Combating Financial Crisis committee will focus on understanding several case studies of financial crises including the crisis in Japan in the 1980s, the Great Financial Crisis, and the Eurozone crisis and applying those lessons to understand how effective monetary and macroeconomic policy can prevent financial crises. The committee will use lectures, crisis simulations, and policy writing workshops to help students learn about and apply their skills in policy.
4. Journalism and Media

The world of journalism has changed drastically within the last several decades. With the advent of television, the Internet, and social media, the lens through which all of us view the world has become increasingly reliant upon modern tools and ideas. Journalism has been forced to keep up, and during the conference, we will seek answers to the pressing questions that face the field today. In a world of free information, how does journalism stand its ground as a source of truth? How can journalism filter cultural and societal biases in order to facilitate a more cohesive global community? We will take a hands-on approach to uncover answers to these questions while providing real-time coverage of the conference itself.

5. Machine Learning and Automation

Every year more consumer products, machines across supply chains, and even previously inanimate objects gain internet connectivity. This gives them an ability and intelligence to generate massive silos of data. In the nearest term, sensors in highways that measure traffic volume are reducing commute times. In the longer term, intelligent, self-driving buses may ferry us to and from work. This committee will explore the ways in which corporations and the global economy at large are investing in the research and development of smarter computing systems that will change the ways our generation and those thereafter will work, consume, and live.

6. Economic Development and Policy
Background: An analytical approach to understand how some countries develop faster economically, socially, and geographically. Specific focus on institutions (banks, governments), economic models and structures (capitalist), and geopolitical factors (current international affairs and macro trends). Goal: To create thoughtful policy initiatives by the end of the session that are well researched and debated which can then be implemented by a variety of emerging markets to lift people out of poverty and get access to luxuries like education. Throughout the session, I would like to introduce and engage the students by allowing them to interact; allowing for the culmination of unique thoughts and qualities.
7. Economics of Drug and Disease
With the rapid advancement of science and technology, the world is constantly developing new methods of treating disease. However, according to a study by the Tufts Center for the Study of Drug Development, the cost to bring a new drug to market is roughly $2.7 billion. In recent years, this has led to increased drug prices for treatable diseases, and increased drug prices have led to health and economic effects. Drug pricing is a primary example of how health and economics are inextricably tied. What makes drug development so expensive? Are there ways for drugs be offered at affordable prices while also stimulating economic growth? It is ethical for companies to raise prices for speciality drugs? While considering these questions, this committee will explore the rise of noncommunicable diseases and the drugs created to treatment them. Delegates will be challenged to look at the issues from multiple perspectives and be encouraged to brainstorm real-world solutions.
8. Globalization and Poverty

This seminar will teach students basic economic concepts which they can then use as tools to understand how globalisation is affecting poverty worldwide. Students will be asked to think critically about issues from the perspectives of efficiency and equity. Is a global economy more effective in getting resources to people who need them the most? When prices are driven down by globalisation, is this beneficial for those living in poverty? Who might be hurt by globalisation, and what policies must be put in place to ensure effectiveness and equity for all stakeholders?

9. Entrepreneurship and Funding

Every successful business traces its origins to a marriage of creative vision and monetary support. Our committee will seek to institutionalize the entrepreneurial journey - join us as we go beyond the theoretical, synthesizing economic policy-making with hands-on innovation. Foundationally, we will deconstruct and distinguish between the varied sources of funding available to entrepreneurs, covering everything from public special revenue funds to private angel investment. Building on this, the first stage of our committee will see us debating policies to democratize access to these sources, with the aim of establishing new frameworks for funding investment, growth, and universal progress - from ideation all the way through to product delivery. Then, we will put our own entrepreneurial thinking to the test - the second stage of our committee will be a dynamic startup simulation. Our committee is our incubator - small groups will collaborate to conceptualize, fund and deliver the next hot product using the very frameworks we institute in our first stage of work.

10. Blockchain and the Digital Economy
Blockchain technology is potentially one of the most important technologies that developed over the last decade. In 2008, Satoshi Nakamoto created a “cryptocurrency” called Bitcoin, and showed that there could be an object that used game theory, computer networks, and cryptography to record transactions on a decentralized ledger without the use of an intermediary. Since then, blockchain technology has been adopted in numerous ways to solve more problems than what Bitcoin could alone, such as decentralized computing and smart contracting. This committee will examine both the underlying structure of how some of these blockchain technologies work, as well as the economic implications they might have on society at large.
11. Behavioral Economics
As human consumption continues to increase, behavioral economics is becoming an increasingly relevant field of study. This committee will first explore the basics of behavioral economics regarding rational choice and social norms. We will then take a look at how behavioral economics can be used by both policy makers and private companies. Finally, the committee will outline case studies for mini-debates regarding the the effectiveness of behavioral economics.
12. Genetic Engineering
Personalized medicine is a rapidly growing sector within medical research and care. Once the stuff of science fiction novels and movies, technologies like genome editing are now a reality. However, such technologies do not come without their controversies. In our committee, we will hope to understand first, the history and background behind the biological mechanisms that technologies like the CRISPR/Cas9 system utilize. Then, the bulk of the sessions will be focused on debating and understanding the utility, ethics, need, and societal implications of what legalizing these technologies would look like, or the complete opposite – if these technologies were banned for human application. These debates would also be considered with an economic perspective; that is, bringing in the costs related to labor, training, development, and education awareness associated with attempting to widely disseminate such a technology to the world.
13. Economics of Education
Education is foundational to economic development. By investing in human capital, countries reap the benefits resulting from increased incomes, creative ideas, and overall happier people. However, while education is consistently a top priority across nations, many differ as to the extent and manner by which education should be financed and utilized. Which subjects should be emphasized in school? How does one measure education production? How do positive and negative externalities factor into decision making? In our committee, we will provide an economic framework by which to interpret policies and programs. Then, we will look more specifically at case studies from around the world with regards to education advancement. We will conclude our sessions by presenting our own conclusions and recommendations for education reform.
14. ASDAN Business Simulation (Final Competition)
This competition is reserved for gold, silver and bronze winners of In -school and Regional competition from September 2017 to July 2018 After participating in your school and regional competitions, you are invited to be part of the Finals Tournament, where you will compete with all the best performing companies across China. The winners are the company which earns the most over the year!
15. ASDAN Business Simulation (Invitational Tournament)
This Business Simulation is for delegates who never participated before to try this fun and interactive competition. This Business Simulation is tailored to the students who want to gain the basic understandings of business and trade. It aims to help the aspiring business leaders and entrepreneurs of tomorrow grasp a better logical and strategic understanding of how to run a business instead of the detailed tactics of business competition. Our future business leaders would create and make decisions on every aspect of their business from their company culture to their production needs. ASDAN always believes that “how” we learn is as important as “what” we learn and having fun is as important as learning. This business simulation encourages you to proactively get involved in running the business and enjoy the learning process.

2019 Presidium

Elizabeth Liu

Elizabeth Liu
Yale University

Collin Bentley

Collin Bentley
Yale University

Peter Williamson

Peter Williamson
Yale University

Alec Dai

Alec Dai
Yale University

James Chung

James Chung
Yale University

David Xiang

David Xiang
Harvard University

Rahul Mepani

Rahul Mepani
Cornell University

Alex Jang

Alex Jang
Yale University

Malia Ellington

Malia Ellington
Harvard University

Sarah Tisdall

Sarah Tisdall
Harvard University

Arinjay Singhai

Arinjay Singhai
Yale University

Meibin Chen

Meibin Chen
Yale University

William Hodges

William Hodges
New York University

2019 Conference Agenda

China·Shanghai

Fuyue Hotel

1-4 August 2019

English

Thursday

1st August

Friday

2nd August

Saturday

3rd August

Sunday

4th August

Morning Registration Session 2:
Discussion and find solution

  • Speaker list
Session 4:
Tackle case and draft solution (B)

  • Case study analysis
  • Draft resolution
Last session:
Debrief committee topic
Afternoon Opening ceremony

Session 1:
Rules and procedure introduction

Session 3:
Tackle case and draft solution (A)

  • Case study analysis
  • Draft resolution
Session 5:
Case study and edit solution

  • Present solution
Closing and award ceremony
Evening

Introduction to committee

Academic workshops

  • Ivy league session
  • Career planning
  • Economic lecture

Conference workshops

  • American campus life
  • Waltz training
  • Business etiquette
Social event

  • Talent show
  • Cultural show

Important Dates

2019 Conference

December 2018 - June 2019

Conference Registration

April - June 2019

Committee Selection

29 June 2019

Registration Deadline

22 June 2019

Background Guide

27 July 2019

Logistic Information Release

3 Steps WYEF Registration

First Session

Delegates will receive a broad introduction into their committee topics. Directors will begin with a presentation that puts
their committee topic in a global context, and introduce historical context and background information relevant to the
case. Delegates will also gain a working knowledge of the key terms and concepts necessary to join an informed discussion on the topic. Directors are encouraged to begin the committee with icebreakers to make delegates more comfortable.

Second Session

The Director will create a "Speakers' List". Each delegate will be given time to present his/her role in the committee and
position on the current topic. Directors will elaborate on each of the roles as they see fit and introduce different
organizational structures and coalitions, thus providing a theoretical framework for the case study to follow.

Third & Fourth Session

Directors will also introduce the case study in this session. The rest of the conference will aim to tackle the case and devise a solution. Delegates will divide into coalitions according to their assigned roles, and draft a comprehensive agreement or policy recommendation, known as a "White Paper." Directors may choose different committee formats to facilitate debate and discussion while delegates are developing their White Papers.

Fifth Session

Students will present their White Papers in front of the entire committee.
Time may be allotted for a brief Q&A session

Sixth Session

If all presentations have finished, Directors may use the remaining time to debrief on the progress of the conference and
play concluding games.

M

O

M

E

N

T

S

FAQ

1. What will I need to do to participate in the forum? What will I gain?

To participate in the Yale World Youth Economic Forum (Shanghai), you will need to dedicate your time and energy to solving today's complex economic and commercial challenges that currently face the international community. To prepare for the forum, you will need to hone your research skills and gain more knowledge on your specific committee in order to successfully collaborate with other delegates. Therefore students will be expected to analyze the etailed background guides that they will be sent before the forum and any other information that they feel relevant. What you will gain from the conference is the chance to improve your economic analysis, understanding of global issues and gain lifelong contacts and friends from all over the globe. Most importantly though, throughout the process, your analytical skills and decision-making capacity will be tested and significantly improved.

2. What are the possible awards for participating in the Forum?

In this forum, depending on the forum committee, you will have the chance to compete for the following awards:
Business Simulation: the Best Performing Company,
the Best Project and the Best Poster,
Economic debating committees: Best delegate,
Outstanding Delegate and Honorable Mention.

3. What is the structure of the forum?
The Global Undergraduate Economic Forum (GUEF) committees: There will be 16 forums focusing on debating the area of economic sustainability. Delegates will be representing real business and political leaders in order to solve the issues facing their committee. These committees will be chaired by the leaders of The Global Undergraduate Economic Forum which comprises of the best Economic students in Yale and Harvard University. The ASDAN Business Simulation: Participants of the ASDAN Business Simulation will be expected to form their own business in a simulated market environment. Students will need to work as a team in order to be the most profitable company at the end of the tournament. The competition will involve students analyzing their markets, making business decision on investment and costs and also making business presentations to a series of judges. The Media Committee: The Media Committee members will put forward the identity of the forum through their presentation of the news and events of the forum. Members of the media committee will create a daily newspaper for the forum, interview delegates and chairs and make video content for the delegates to enjoy. Business Mock Trial Committee: Mock Trial representatives at the conference will serve as lawyers, defendants, plaintiffs and witnesses. Participants will analyze real business legal cases and delve into the complexities and intrigue within business law. Participants will gain insight into the real drama and suspense created in the court room as they aim to represent their company’s argument in a persuasive and legal manner in this simulated court hearing.
ASDAN China