The Wellingborough School Target 2.0 Sixth Form Enrichment group delivered their judgements on the correct monetary policy stance for the UK economy last Wednesday afternoon.
The challenge requires teams of 4 to research and analyse data to identify the inflationary/deflationary risks affecting the UK economy and then decide on the appropriate rate of interest for the Bank of England to set in order to meet their target of 2% CPI inflation over the medium term. Many weeks of getting to grips with the theory, developing an understanding of the transmission mechanisms involved and making sense of the data they have collected culminated in a 15 minute presentation by each of the 2 groups participating.
The school was very pleased to welcome Nick May, who has spent his entire career working in the financial markets, to judge the presentations and give his feedback.
Both teams delivered well researched presentations with a wide range of data. This included employment statistics, real wage growth, productivity, factory gate prices and measures of the money supply.
In the end, ‘Homo Economicus’, consisting of Tom Pope (Team Captain), Robin Lowe, Adam Pugh and Harry Russell, were declared the winners of the inaugural year of this in-school activity.
I would like to take this opportunity to thank Nick for his time and the pupils for all their hard work and effort in what I hope was a valuable and worthwhile exercise.