SINGAPORE - An understanding of economics and finance provides a valuable foundation for lifelong learning and can be applied to real-world problems, said Deputy Prime Minister Heng Swee Keat on Sunday (July 25) as he encouraged young people here to develop and deepen their interest in the topic. Speaking at the final round of the virtual National Economics and Financial Management Challenge, Mr Heng said the basics of economics and finance can be applied to public policy, for example to address climate change or changing demographics in Singapore and globally. "The discourse is not just theoretical, but it can lead to better outcomes that can improve the lives of billions of people on earth," he said. The challenge was organised by the National University of Singapore's Economics Society to make pre-tertiary education students become interested and appreciate economics and finance. Now in its 14th year, the challenge began this month with two earlier rounds that tested the participants' knowledge of tertiary-level economics and their ability to create a video applying economic and financial theories to an everyday life topic. Sunday's round included a case study and presentation s...