Economic Insights from Bank of England Old Boy
Friday, 21 October 2016
Old Boy Paul Alexander, who now works for the Bank of England, returned to School to talk to Business and Economics pupils in the Boys’ Division.
A group of four boys are this year taking part in the Bank of England’s Target 2.0 challenge. This competition gives students aged 16 to 18 the change to act as the Bank’s Monetary Policy Committee, assessing economic conditions and then setting the interest rate to meet the Government’s target of 2.0%. The teams present their analysis and decision to a panel of judges.
The Target 2.0 team enjoyed a working buffet lunch with Paul, during which they discussed various topics related to economics and interest rates, including imports and exports. This was a really useful experience for the Sixth Formers who are taking part in the competition and they were able to get some really helpful advice from Paul as an expert.
After lunch, Paul talked to a larger group of pupils about his career and working for the Bank of England. After leaving Bolton School, he read Business, Economics and Finance at Loughborough University, followed by postgraduate study at the University of Nottingham where he studied Economics and Financial Economics. This was followed by an internship and the Bank of England Graduate Scheme. He went on to give some of the history of the Bank of England, including some fascinating and unusual facts, before talking about what the Bank is and what it does.
Paul also discussed his job and what this involved on a daily basis, before going on to speak about one of his favourite topics: the financial crisis and its aftermath. This interesting subject made a great subject for his talk and he was able to offer additional insight to the pupils studying Business and Economics.