WGS' students reach Economics World Cup

WGS' students reach Economics World Cup!

Congratulations to Henry, Nish, Taran, Ish, and Cameron for reaching the finals of the Economics World Cup.

As part of the competition, they initially completed individual assessments online on economic theory and quantitative analysis, as well as some multiple-choice questions.

Having scored highly in that, they were then put into the school team, where they were given a complex and rather detailed case study where they took on the role of consultants to the Brazilian government. Utilising their knowledge of the concept of scarcity, as well as opportunity cost and political sensitivity, they were advising on the most efficient exportation of graphite.

This involved conducting a quantitative analysis of each option and providing high-level advice on profitability in relation to opportunity costs and environmental impacts. Trying to balance economic need with social welfare was extremely subjective, but through their extreme mathematical ability as well as understanding of due political relations, they were able to put forward a very robust and convincing proposal.

Their hard work, creativity, and economic insight led them to this impressive achievement. Not only will this outcome help them with their personal statement and UCAS applications going forward but also really solidify their understanding of international economics and the complexities of trade patterns, which is a fundamental part of their macro exam in the summer.