Perse economics team is on target
28 Nov 2014
On Thursday, five sixth form students travelled to Bedfordshire for the first round of the Bank of England’s prestigious Target 2.0 competition.
Competing against six other schools, the team gave a 15-minute presentation on the state of the UK economy, and then recommended the most suitable course of monetary policy for the Bank of England to pursue.
The Perse team, comprising Jack Kleeman, Hannah Kirk (Upper Sixth), Ciaran Flaherty, Alex Harris and Jamie Doughty (Lower Sixth) impressed the judging panel of three senior Bank of England staff with their convincing arguments for an immediate rise in interest rates to 0.75%. The Presiding Judge praised the team’s “astounding” economic understanding and “infallible” logic, despite completely disagreeing with the team’s conclusion! He also mentioned that, in his 10 years of judging the competition, he had never seen a better presentation.
The Perse won this first round, and so can now look forward to the regional final in February. The team worked exceptionally hard for this success, but could not have done it without the fabulous support given by Mr Proud in the run-up to the competition and the tireless research by Vedanth Nair, Renzhi Zhou and Mihir Chandraker in the Lower Sixth. The team would especially like to thank the 406 parents who kindly completed our survey about the impact of an interest rate rise.