Bank of England visit Childwall Academy to explain economics

Senior Bank of England economists visited Childwall Sports and Science Academy last week to talk to 200 Year 9 and 10 students about economics and how market forces shape their lives.

Authors Rupal Patel, Senior Economist, Bank of England and Jack Meaning, Senior Research Economist, Bank of England, discussed topics from their new book Can’t We Just Print More Money?, which was published by Cornerstone Press 19 May.

It is the first-ever trade book from the Bank of England and addresses ten questions that are key to understanding economics, from ‘Why aren’t Freddos 10p anymore?’ to ‘What actually is money?’.

The visit was organised by Speakers for Schools and Penguin Talks, a programme of free, creative talks for young people, giving them the opportunity to hear from and question world-renowned thinkers from their family of authors.

During the session, Rupal and Jack discussed diverse topics including what money is, different forms of currency, how technology improved the standard of living for each generation and why top gamers earn so much.

Students also had the opportunity to quiz the authors and asked about the gold bars worth £200 billion stored in BOE vaults, how economics can mitigate inflation, what is cryptocurrency and tips for budding economists.

Every pupil attending the session received a free copy of Can’t We Just Print More Money?.

Rupal and Jack said: “It was an absolute pleasure to speak to students from Childwall Sports and Science Academy on importance issues from climate change, cryptocurrency to video gamers’ salaries. We hope our book will inspire a whole new generation of economists to shape economics and the economy for the better.”

Ms. Vincent, Headteacher, Childwall Sports and Science Academy, said: “Our curriculum drives academic success whilst fostering the development of students’ character, personal development and health and wellbeing.

“Penguin Talks is a good opportunity to broaden students’ understanding of economics, encourage debate and enrich classroom learning.”

Mrs. Koemer, Careers Manager, said, “It was inspirational for our students to hear from the UK’s top economists about how production, distribution, and consumption of goods and services affects so many aspects of their daily lives students and the talk and debate will help us fuel their ambition.”

Student Renée said: “I really enjoyed the authors’ talk. The world is ruled by money and money gives people power, so it is really important we all learn about economics.”

Nathan added: “Events like this are important as understanding economics can help us all manage and use money more wisely and can help shape our future.”

The talk will be available to watch on Penguin Platform YouTube channel in early June.