A team of A-Level Economics students from Harrow College has visited the Bank of England to put their monetary knowledge to the test.
On Thursday 24 November, a team of five students – Zak Coleman, Sara Khaleqyar, Anmit Singh Khurana, Hamna Malik and Venelina Urlachka entered Bank of England HQ in central London as a shadow Monetary Policy Committee (the committee that decides the UK’s interest rates). Their challenge was to present a national interest rate recommendation to the Bank of England.
The team, competing with 6 other schools in this heat, studied the competition brief and put together their plan. They considered a number of factors including future predictions, economic variables and international matters. Their recommendations were then presented to a panel of Bank of England resident economists.
The competition was tough as expected but the team did themselves and Harrow College proud by putting together a wonderfully professional and informative presentation. Although the team did not go through, it was a magnificent effort and will encourage a new team to take on the challenge next year.
Speaking about the competition, Harrow College Economics Lecturer Panos Nicolaides said "the brief was very difficult and required many considerations. The Harrow College team did an extremely good job of putting together a well thought out plan and presented very confidently. The experience has been invaluable and feedback from the Bank of England panel was very positive. A fantastic effort by all".
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