Economic and Financial Committee (ECOFIN)
Chairs: Jiwon Son & Laetitia Park
Topic A: Remediating Intranational Income Equality
Over the course of history, the human race has managed to grow, progress, and discover to incredible lengths. Our economies have become amazingly complex, our ways of life impressively intricate. However, with growth and development comes an ugly catch--income inequality. Economists and world leaders have come to realize that income inequality between nations is a dilemma that diminishes the peace, health, and economic efficiency of the globe. They have long been on the search for a way to appropriately address this issue at hand, however, the world is yet to find one that works. The goal of this committee is to determine an effective, coherent solution to alleviate international income inequality. Through the use of diplomacy, international policies, and cooperation, the members of ECOFIN must work together to resolve this age-old problem.
Topic B: International Measures for Preventing Future Global Economic Crises
The 1997 Asian Financial Crisis. The Great Recession of 2008. The devastating economic effects of the COVID-19 global pandemic. Financial crises that shook the global economy and left nations with long roads to recovery. From the “too big to fail” banks and the accumulation of debt, delegates must identify the patterns behind these crises. This committee must establish global fiscal policies that allow nations to identify and target the signs of a financial crisis before it escalates to an international level.