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A Level Economics Success

economics

 

 

 

 

 

 

 

 

 

Hutton’s 2016 Economics team: (from left to right)

Matthew Stevenson, Joe Wignall, Daniel Timmers & Paul Furnival

After knocking out a number of teams from distinguished schools such as Stonyhurst College, Clitheroe Royal Grammar School and Bolton School in November’s Regional Heat, our Bank of England Target 2.0 Challenge team of four A level Economists travelled to the plush surroundings of the Double Tree by Hilton Hotel in Manchester on Tuesday 24th February to take part in the Regional Final.

The team of Daniel Timmers, Paul Furnival, Matthew Stevenson and Joe Wignall presented for almost 20 minutes explaining why they would reduce the base rate of interest to 0.25% from 0.5% whilst maintaining quantitative easing at the current £375 billion in order to boost aggregate demand and hit the CPI inflation target of 2.0% within the next 18 months. There then followed some tough questioning from the Bank of England’s 3 professional economists on issues ranging from the UK’s productivity problem to how we measure unemployment to how much spare capacity there is in the UK economy.

At the end of a long day of presentations and questions, Loreto College from Coleraine in Northern Ireland were declared the winners of the rather large region that is Northern Ireland, Scotland and northern England. However, the team from Hutton was praised for its willingness to question the validity and accuracy of official data whilst delving deeper into issues such as underemployment in the economy.

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