Upper Sixth girls rise to Bank of England challenge.
‘Target 2.0’
Each year, as part of their studies in Economics, girls in the Upper Sixth are invited to take part in a competition run jointly by the Bank of England and The Times newspaper. ‘Target Two Point Zero’ – is an Interest Rate Challenge which gives teams of students the chance to take on the role of the Bank of England's Monetary Policy Committee.
The girls spent the whole of this term assessing economic conditions and the outlook for inflation. They used the information they researched, which included a questionnaire that was sent out to Woldingham parents, to judge how the economy was progressing and what interest rate they would set to achieve the Government's inflation target of 2.0%.
The girls met weekly and, towards the date of the competition, every evening to discuss the finer points of the data they had gathered. All this culminated in a 15 minute presentation to a panel of judges from the Bank of England and a Q & A session afterwards.
The girls did exceptionally well this year, coming ‘runners up’ in what the Bank of England's representative described as the ‘strongest heat in the South of England’.
Each girl deserves credit for all their hard work and effort. Although the competition is now over, the work they undertook will not go to waste. The Challenge has deepened their understanding of the economy and the way in which interest decisions affect economic growth and inflation and without doubt it will help them in their upcoming examinations in Economics. Specifically they will be able to apply economic concepts and principles to the analysis of developments in the real economy and to appreciate the interrelationships between the different topics that they cover in their course. It will also help them to develop their critical thinking and other skills which will help improve their evaluation skills in all subjects.
Congratulations go to the following;
Edwina Surtees (team captain)
Dharisha Mirando
Suzy Douty
Jam Acuzar
Sarah Tucker
Sophie Warburton
Mr Bentley
Head of Business Education
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