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Oundle Economists through to National Finals of Bank of England Challenge
6th March 2014

 Having won the Regional heats back in December, a team of Oundle School Economists have made it through to the National Finals of the ‘Bank of England Target 2.0 Challenge’ following success at the recent Area finals. They are one of only 6 teams to do so out of a very strong field of 300 schools.

Head of Economics, Mo Tanweer commented, “This is the first time Oundle has ever made it to the National Finals. The pupils have won £1,000 by doing this, with the top prize of £10,000 up for grabs in the Finals. The team of pupils presented very strongly and answered the panel’s questions excellently. They should be rightly proud of their achievement.”

The Challenge requires pupils to act as the Monetary Policy Committee and submit their own proposal for the interest rate and the level of Quantitative Easing the Bank should adopt, in order to hit the 2.0% inflation target. It is judged by members of the actual Bank of England Monetary Policy Committee.

The presenting team comprised: Captain Oli Wood (17); Malayandi Palaniappan (19); Juliette Aliker (18) and Freddie Martin (18).

Oli commented, “We had to undertake economic research and analysis by examining current economic conditions, and assessing the outlook for the economy and inflation. We then had to present our findings to a panel of judges in competition with other schools in the area and make a monetary policy recommendation with supporting arguments and evidence to achieve the Government’s inflation target of 2.0%.

 

In our presentation we proposed to keep the Bank Rate at 0.5% and maintain the stock of QE asset purchases at £375, due to the fragile recovery in the UK and falling real wages.

 

 It felt amazing to win as we had been working on the presentation for several months, with a very hectic couple of days before updating all of the data and statistics on the slides. It has given all of the team a much greater understanding of the current state of the UK economy and will definitely help us in our A-level studies.”

 

Press contact:

 

Liz Dillarstone

Publicity and Press Relations Officer

Oundle School

01832 277267

07810 788458

ed@oundleschool.org.uk

 

 

 

Background Information on Oundle School

 

Oundle School is situated in the quintessentially English market town of Oundle, about 90 miles north of London. The School’s buildings, dating from the 17th to the 21st centuries, are dispersed throughout the town, which is, to a large extent, its campus.

 

The School’s history dates back to 1556, when Sir William Laxton, Master of the Worshipful Company of Grocers and Lord Mayor of London, endowed and re-founded the original Oundle Grammar School, of which he was a former pupil. In 1876, the Grocer’s Company divided the School into two parts; Laxton Grammar School, primarily for the inhabitants of the town, and Oundle School, primarily for pupils from further afield. In 2000, the Grocers’ Company reunited the two schools under the common name of Oundle School and retained the name of Laxton for the day House.

 

At the beginning of the 20th century, Oundle was put firmly on the map of leading English public schools by its most famous headmaster, F W Sanderson, who established Oundle’s reputation as one of the great science and engineering schools, a reputation still renowned today. In 2007, SciTec - a major and ground-breaking new science complex - opened, housing 16 state-of-the-art laboratories. Phase two of the SciTec vision is now underway, with enhanced Design Technology facilities and a new purpose-built Mathematics Department planned to link the STEM subjects both physically and philosophically. A concurrent Sports Masterplan will upgrade sporting facilities across the School over the next few years, including a new 1st XI cricket pavilion in 2015.

 

There are currently 1110 pupils are on roll at Oundle School, with 865 boarders and 250 day pupils. Also within the Corporation of Oundle School is Laxton Junior School, a day School for children aged 4 to 11. 

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