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Target Two Point Zero Challenge

Wednesday, 4th January 2012

On Thursday 1st December, Immanuel College sent a team of Economics A-Level students to participate in Target Two Point Zero - the Bank of England and The Times interest rate Challenge. Their presentation required the team - Tamar Lehmann, Nick Gee, Darren Vanning and Elliot Miller – to assess the outlook for the UK economy and to do this they engaged in rigorous research and analysis of economic data. Their presentation was followed by gruelling questions from the panel of judges, who included a Bank of England economist.

Elliot Miller commented, “Over the past few years, economists and economic data have been widely published in the news due to the effects of the 2008 recession and the current economic turmoil in the Euro zone. We had to take all these factors into consideration in order to decide on an interest rate decision and the appropriate level of quantitative easing or asset purchases we thought would enable the CPI rate of Inflation to fall back towards the Target rate of 2%.”

Immanuel came third overall in this heat of the competition. Tamar Lehmann noted that “the chance to make a formal presentation in front of professionals provided me with important skills for the future."

Mark Gavin, Head of Economics at the school, said, “Immanuel pupils enjoy taking part in this competition as it demonstrates how economic concepts and models learnt in the classroom are applicable to solving real world problems.”