Position Papers are due on February 5th to be considered for the Best Position Paper Award, and February 12th to be considered for any committee award. Submit them to ECOFIN@bmun.org.
UN Economic & Financial Committee (ECOFIN)
Head Chair | Sherry Guo
Vice-Chairs | Jessie Mao, Zishen Liu, Hubert Luo, Danielle Tyukody
Topic 1 | Status of IDPs and Refugees in Syria and Israel/Palestine
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The United Nations High Commissioner for Refugees estimates that, as of December 2015, the number of refugees, asylum-seekers, and internally displaced people around the world has exceeded 65 million and is climbing every day. The migration of refugees, asylum seekers, and IDPs into areas that are not familiar or welcoming to them places a considerable amount of strain on all parties involved, not just socially, but economically as well. Countries tend to respond to the immediate needs of refugees through humanitarian aid, but oftentimes, the long term needs of these people are ignored, since the hope for the host country/city is that the refugees could return to their homes soon. In this committee, we will be building economic guidelines for refugee integration, since the key to fiscal sustainability in the long run is integration. We will be doing this by applying macroeconomic theories as well as by looking at the topical cases of the crises arising in Israel/Palestine as well as Syria.
Topic 2 | International Black Markets and Currency Valuation
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The notion of a “Black Market” may bring up thoughts of organized crime groups in shady underground dwellings but in reality, black market transactions simply refer to markets in which the economic activity is not recorded to the government, and thus, taxes are not paid. These transactions can refer to the purchasing and selling of illegal goods and services, with everything ranging from concert tickets, weapons, drugs, people, and organs, to counterfeit products, fuel, animals, currency, and “under-the-table” employment. In half these cases, black market goods are sold at prices that are higher than government controlled prices due to the fact that these goods are very difficult to obtain. Others involve prices that are lower than the legitimate prices as a result of tax evasion done by both parties. Now, however, new technologies like blockchain and cryptocurrencies are disrupting the international black markets and the stability of the world economy. In this committee, we will be examining the impacts of these new technologies on the black market, specifically in the scope of the dark currency trade.