Target 2.0 Triumph for SES Team
A team of young economists from the Stamford Endowed Schools have progressed to the next round of the national Target 2.0 competition after winning their regional heat.
The twelfth annual ‘Target 2.0 Bank of England and The Times Interest Rate Challenge’ sees around 300 teams from across the UK compete for the Challenge Trophy and a £10,000 prize for their school.
During the challenge the teams have the chance to take on the role of the Bank of England’s Monetary Policy Committee and assess economic conditions and the outlook for inflation. They must explain and justify to the panel of Bank of England judges what monetary policy they would set to achieve the Government’s inflation target of 2.0%.
The Endowed Schools team, made up of sixth formers Matthew Pennill, Johannes Kangur, Oliver Horton and Andy Ho, faced fierce competition from five other teams at the regional heat held in Grantham at the end of November. As winners, the team will now compete at one of the six area finals, being held in February 2012. The winning six teams will then take part in the national final held at the Bank of England in March 2012.
Carl Killgren, Head of Economics, commented: “The competition is very challenging so the pupils have done well to get this far. Our team were one of the six national finalists in last year’s competition so I have high hopes for this year’s team too.”