This Week, our Lower Sixth Economists put themselves into the shoes of The Bank of England’s Monetary Policy Committee as they took on the challenge of delivering presentations about the economy and how best to face the challenges created by the world-wide pandemic.
Areas covered included interest rates, quantitative easing projections and the state of the labour market and the components of aggregate demand.
Their audience for the event were Upper Sixth Economics students who could understand the economics and pose challenging questions to them including:
- Do high interest rates cause high levels of inflation, or is it vice versa?
- Does a high level of investment (gross domestic fixed capital formation) cause higher growth, or it is vice versa?
Their discussions incorporated a range of different economic concepts such as the difference between correlation and causation, and multipliers.
Our Upper Sixth Economists scored their Lower Sixth peers on their presentations, which resulted in an average score of 8 out of 10, along with the recognition that the economics used by the Lower Sixth in their analyses was extremely strong. Well done, Lower Sixth!
