A Thought-Provoking Public Lecture on Economic Growth Models – The Irish Experience

Yesterday, we had the privilege of hosting a distinguished public lecture attended by notable dignitaries, including the Ambassador of Ireland to Nigeria, Peter Ryan ☘; the Pro-Chancellor of the African School of Economics, Nigeria, Her Excellency Princess Gloria Akobundu; the Vice-Chancellor of ASE, Prof. Mahfouz Adedimeji (Chief Host); the Vice-Chancellor of Al-Hikmah University, Prof. Noah Yusuf (Chairman of the Occasion); as well as esteemed faculty members, students, and other distinguished guests.

Our guest speaker, Susan HayesCulleton CFA, “The Positive Economist”, CFA, Managing Director of Hayes Culleton Group, delivered an insightful lecture on “Economic Growth Models – The Irish Experience.” She explored 100 years of Irish history from multiple perspectives, shedding light on the country’s economic transformation, the impact of joining the EU, and the adoption of the Euro. Her discussion highlighted the far-reaching economic and social implications for Ireland and its neighboring countries.

A key takeaway from her lecture was the ‘Consumption – Investment – Government/Taxes – Net Exports’ (CIGNx) model, which Ireland utilizes to measure and understand economic growth. She emphasized how this approach provides valuable insights into sustainable development and economic resilience.

Beyond economics, she delved into the role of immigration, economic downturns, and climate change in shaping social structures and foreign direct investments. On the topic of AI, she encouraged its responsible adoption, emphasizing its potential to drive productivity and efficiency rather than being viewed with skepticism.

Ambassador Ryan reflected on the historical ties between Nigeria and Ireland, dating back to the first missionaries, and expressed his commitment to fostering stronger collaborations between Ireland and ASE. Similarly, the Pro-Chancellor, Her Excellency Princess Gloria Akobundu, urged undergraduate students to seize learning opportunities like this to build a better future for Nigeria.

The lecture concluded with engaging discussions, a vibrant photo session, and enthusiastic students capturing moments with the Ambassador and guest speaker. It was an enlightening experience that reinforced the power of knowledge-sharing in driving economic and social transformation.