Abingdon students rev up success in National Young Economist Competition
The annual Royal Economic Society’s Young Economist of the Year (YEOTY) competition challenges bright young minds to apply complex economic concepts to real-world scenarios.
This year, a group of Sixth Form Economics students achieved “highly commended” in the newly introduced podcast category. Working with students from St Helen and St Katharine School, Abingdon students, Oliver, James and Beany recorded a captivating podcast entitled “How Can Economics Explain the High Price of Supercars?”
In the episode they examine how concepts such as supply and demand, price elasticity, scarcity and brand signalling can help explain why luxury cars hold such high prices even in fluctuating markets. Their podcast was the final instalment of Keeping Up With The Keynesians, a ten-part series on economic topics run by Oliver with the support of more than 20 Abingdon pupils. For the YEOTY entry, however, the five students worked closely together on research, writing and recording a stand-alone episode tailored to the competition brief.
Head of Economics at Abingdon, Mr Gray, comments: “This remarkable result is a rewarding conclusion to months of collaborative work and highlights the power of creative formats, like podcasts, to make sophisticated economic ideas accessible to a wider audience. The students hope their success will inspire even more pupils to explore the fascinating world of economics and participate in future national challenges.”
What other real-world applications of economic principles do you think would make a great podcast episode?
