Barton Peveril Sixth Form Economic Students have successfully made their way to the semi-finals in the Institute of Economic Affairs (IEA) Budget Challenge, taking place in London, Westminster.
The IEA Budget Challenge is a chance for students from a variety of schools and colleges to team up in their group to learn more about economics, develop their writing, research skills, analytical skills, and provide a better understanding of the policy issues and challenges facing national decision makers. IEA’s mission is to improve the understanding of the fundamental institutions of a free society by analysing and decipher the role of the markets in solving economic and social problems.
In the National competition, each team must curate a submission that will outline a budget with taxation and spending policy for the UK in the coming financial year, as well as more briefly analysing the macroeconomic conditions and setting out a broad policy and strategy in response. The winning team will receive a monetary prize of £1000. The three next best teams will each receive a runners up prize of £250
Each team will have a 20-minute slot which will consist of a 10-minute presentation of their proposed budget and a 10-minute Q&A. This will be followed by feedback from the judging panel.
Students will be judged on a criteria of knowledge and understanding of economic issues raised by the challenge, use of resources, quality and clarity of the analysis presented, coherence and credibility of the proposed budget, and the degree of originality and insight displayed.
Barton Peveril’s Business Department is busy preparing students, coaching them ahead of the competition that is set to take place on the 27th February.
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