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The De La Salle University (DLSU)– Economics Organization and the Junior Philippine Economics Society, with the support of the Konrad Adenauer Foundation, Anthony Aguirre Memorial Foundation and the DLSU Angelo King Institute for Economic and Business Studies, staged a successful 4th Young Economists Convention (YEC) last 21-22 January 2005 at the Angelo King International Center, Manila.

Nearly 250 undergraduate economics students from top universities and colleges in Metro Manila and the rest of the country listened to and discussed with three Cabinet Secretaries, other top government officials, and experts from the academe and the private sector on issues related to the participation of the Philippines in the international scene, which is the theme of the 4th YEC. Equally important, the young economists interacted among their colleagues from all over the Philippines, thereby strengthening their sense of camaraderie among themselves.

The participation of young economists from institutions outside of Metro Manila is particularly noteworthy during the 4th YEC. There were substantially more participants from more institutions outside of Metro Manila during the 4th YEC. Among the provincial institutions represented in the convention included University of San Carlos, Central Luzon State University, Ateneo de Davao, Ateneo de Naga, Ateneo de Zamboanga, University of the Philipines, Visayas and Silliman University. About a dozen students from Baguio wanted to attend the convention but were advised not to attend in view of the meningo scare. For the first time, one of the mini-conventions held before the convention proper was hosted by the University of San Carlos, Cebu City in November 2004. In addition, for the first time, one of the top 6 candidates for the Best Undergraduate thesis in economics for 2004 came from the province, Ateneo de Davao. Thus, the 4th YEC proved that the young economists convention is well on its way to being a national convention of young economists.

Secretary Emilia Boncodin of the Department of Budget and Management opened the convention with the keynote speech commending the undergraduate students for organizing and staging the convention, which to her is one more venue for greater involvement of the youth on economic issues. The theme is also appropriate according to her because we need to look as much on the opportunities offered by globalization and the international economy according to our comparative advantage. She also highlighted the importance of fiscal reforms in order to put our macroeconomic house in order, and thereby encourage more foreign investments in the country.

Mr. Donald Dee, Presidential Envoy for International Trade and President of the Philippine Chamber of Commerce and Industry, keynoted the second day of the workshop. He inspired the future economists to strive their best in all their endeavors. He argued that his appointment as a presidential envoy for international trade is an important change in our trade negotiations strategy by integrating the business sector into the trade negotiations process. This has not been the case in the country before. He states that the business sector involvement in the trade negotiations process will help our government negotiators well grounded. He also informed the participants that the Philippine Chamber of Commerce and Industry is restructuring itself through decentralization and therefore strengthen its role and contribution at the local level.

Secretary Arthur Yap was the luncheon speaker during the second day. He gave his vision for Philippine agriculture. He emphasized that we need to give as much importance to logistics as to farm productivity. He enjoined the participants to help him in his efforts to strengthen the sector by for example monitoring prices and costs of moving agricultural goods.

Panel discussions on four sub-topics took place on the two-day convention. Bureaucracy in the International Economic Scene was discussed on the first day with panellists Undersecretary Laura Pascua of the Department of Budget and Management, Dr. Emil Bolongaita, Deputy Chief of Party USAID Rule of Law Effectiveness, and Emma Mijares of the Export Development Council. Dr. Winfred Villamil, Chairman of the Economics Department of De La Salle University – Manila and Dr. Patricia Lontoc, professor of the Asian Institute of Management discussed the subtopic on Firm Level Training. Tourism and the International Economic Scene was discussed by Ms. Grace Astid Mocas of the Philippine Tourism Authority, Mr. Reginald Cuenca of the Philippine Travel and Tourism Council and Geronimo Ulayao Chairman of the Tourism Program of the DLSU-CSB. Moreover, Department of Agriculture Assistant Secretary Salvador Salacup, University of Asia and the Pacific professor Dr. Rolando Dy, and DLSU Graduate School of Business professor Mr. Cecilio Costales talked about the sub-topic Agribusiness as a Good Growth Catalyst.

Position papers and best thesis presentations took place during the convention. The 4th YEC concluded its two-day event by presenting the winners of the position paper writing, who are Mark Gloriani, Kathleen Perez, and John Philip Te from De La Salle University with the topic Bureaucracy in the International Economy. On the other hand, the best thesis award was given to RJ Angeles and Margot Aissa Tan from University of the Philippines – Diliman entitled The Contribution of the Output Gap in the Conduct of Inflation Targeting in the Philippines.