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Year 12 - Bank of England Trip

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July 12th 2023

On the 6th of July, we took about 35 economics students on an educational trip to the Bank of England. The day was full of excitement and intrigue as most of the students were eager to see the theories being studied in the classroom, operating in the real world where key policies are made that affect the nation as a whole. Upon arrival, the students went on a tour around the museum where they were able to see the currency of old, the history of the Bank of England, impact of trade of goods such as sugar, and its impact on modern economy. One of the highlights for students was when they got to hold the gold bars displayed in the Museum. Students were given worksheets to complete in an attempt to win a price. The worksheet had questions about the museum and answers around the room which the students we challenged to discover based on their own theirl research.

After this, we went on to the lecture on the history of The Bank of England. Students were able to discuss key topic such as interest rates, Monetary policy, inflationary pressure and the Bank of England's roles in supporting commercial banks.

After the talk was done, the students were able to get information on the potential career opportunities available to them immediately after sixth form and also University. The students were thrilled with the impact this had on their understanding of Economics.

Finally, we went out into the city, British Museum, to see the working out of the price mechanism by observing the supply and demand of food available to consumers. One glaring observation was the impact of inflationary pressure on the price of basic necessities like food. The day came to and end with a meal and appreciation for organising the trip.