Economics

What could you do with a tenner?

Year 9 participated in The Tenner Challenge this year, in which they competed in teams to make as much profit as possible from an initial investment of £10. The main event, The Tenner Trade Fair, involved the teams selling their products to fellow students with the aim of making as much revenue as possible. Products ranged from handmade motivational cards to origami penguins. There was also an abundance of edible treats!

“from motivational cards to origami penguins”

The Trade Fair was an incredibly rewarding experience, with the students learning how to negotiate with peers. The most successful were Hippie Days (Esme, Raima, Lottie and Flo) who won the award for the best market stall while the overall winners were Offrez-Vous (Annika, Lily, Rosanna and Betsy) who made a total of £207.48. Well done to all 16 teams who took part, making a profit of over £1000!

Tamara Al-Saraf and Olivia Williams, Year 12

Freakonomics!

“Freakonomics” is a must-read for every budding economist. It reviews the hidden theories of behavioural economics from modern theories with elements of psychology to the surprising economics of illicit crime. If the book takes your fancy – which it certainly will - you’ll enjoy the Freakonomics podcast on Spotify.

Year 12s start their own businesses

This year, three Year 12 teams set up their own businesses through the Young Enterprise Programme. I was appointed the Finance Manager of my team. Little did I know this would entail seemingly endless trips to the bank and multiple ongoing finanial struggles. We decided on selling waterproof speakers. Unfortunately, in a dramatic turn of events, we were told by Young Enterprise that these were “against regulations”, meaning we had to think of an entirely new product two weeks before we sold at Spitalfields. After much deliberation we came up with the “Pack of Positivity”; a set of cards with stress reducing activities.

“our spirits were considerably lifted when we discovered that two Apprentice candidates would be judging us”

We arrived at Old Spitalfields Market on the day of the trade, and soon came to the harsh realisation that we would be spending the entire day in conditions of just 2ºC. Our spirits were considerably lifted when we discovered that two “Apprentice” candidates, Sajan (including his legendary quiff) and Ross, would be judging us! After Ross had told us that he couldn’t use a facemask because he “has a beard”, we were excited to be getting back into the warmth after a long day of selling. Later in the year we took part in the regional heats. My team was shocked to receive “Most Innovative Product”, with team Boondoggle winning “best presentation”!

Alisha Godhania, Year 12

Young Enterprise Team ‘Boondoggle’

Young Enterprise team ‘Spectrum’

Economics Conference

NHEHS Sixth Form students of Economics and Politics were joined by students from Dormer Wells High School, The Globe Academy, Acton High School, City Academy, St Benedict’s School and Wimbledon High School as the Economics Department welcomed speakers from the Adam Smith Institute, for a day of thought provoking lectures. These speakers spoke on subjects as diverse as the economics of Uber, the prospects for trade after Brexit, the importance of entrepreneurship and possible ways of regulating sex work. They also took part in very lively question and answer sessions which followed their talks.

Mr McComb

Young Enterprise team ‘Pick a Tea’

Economics Jokes

How many economists does it take to change a lightbulb?

None. The invisible hand does it for them.

Economics is the only field in which two people can get a Nobel Prize for saying exactly the opposite thing.

How has the French Revolution affected world economic growth?

Too early to say.