Judging
judges
judging criteria
In each of the three rounds of the competition, presentations will be made to panels of judges.
judges 
There will be three judges on each panel for the regional heats and area finals. The regional heats are likely to be judged by a Bank of England regional Agent, a regional Deputy Agent and a member of staff from the Bank of England in London.
The area finals are likely to be judged by a member of the Bank's Monetary Policy Committee, a Bank of England regional Agent and a senior member of staff from London.
There will be four judges for the national final. The panel will be chaired by Rachel Lomax, Deputy Governor, and will include two other members of the Monetary Policy Committee and a journalist from The Times.
judging criteria
The winning teams will be those who demonstrate the clearest understanding and who present the most convincing and best-argued case for their interest rate decision.
Although the content of the presentations is up to the teams, the judges will expect the teams to examine current economic conditions, assess the outlook for inflation and justify their interest rate decision. If team members disagree about the level of the interest rate, differences of opinion should be explained.
The judges will assess teams' performance against the specific criteria listed below. The judges' assessment will be based both on the teams' presentations and on their answers to the judges' questions.
Understanding of economics and monetary policy
Teams will be assessed on their understanding of how the economy and monetary policy work. They will need to demonstrate that they have grasped the basic economic concepts; that they understand the key economic influences on the outlook for inflation and monetary policy decisions; and that they understand the monetary policy framework and process. The judges do not expect teams to reproduce textbook theories. The judges are interested in how teams explain why they are looking at particular issues or data and their relevance to the interest rate decision. Teams also need to show that they understand how their interest rate decision will help to meet the inflation target. The judges' questions are an important way of finding out how well teams understand their material.
Research and information
Teams will be assessed on the quality of their research and investigative work. The judges will be looking at the way in which teams have used data and other information. They will be particularly interested in how well teams have covered key issues and the relevance of the data and information they have used. They will be looking at how accurate and up to date the data and information are. The judges may question teams about their data and information.
Quality and structure of the presentation and teamwork
Teams will be assessed on the structure and clarity of their
presentations including their creative approach and their use
of visual aids. The judges will be looking at the style of delivery.
For example, they will expect teams to refer to notes rather
than read verbatim from scripts, laptop screens or other visual
aids. Teams will also be assessed on how well they worked together
as a team. The judges will want to see all team members making
a significant contribution to the presentation and participating
in the answers to questions.
Conclusions and justification of interest rate decision
Teams will be assessed on the analytical strength and clarity of thought in their presentations and their answers to questions. The judges will be looking at the extent to which the interest rate decision is supported by the data and other information and whether the decision flows from the arguments put forward. The judges will expect any differences in opinion between team members to be explained. They will be looking at the extent to which interest rate decisions are based on teams' assessment of the outlook for the economy and inflation - ie the extent to which teams are looking ahead. The judges will also be looking at whether teams' answers to questions support their conclusions and interest rate decision.
Teams must adhere to the rules of the Challenge. These are set-out in the section on 'presentations and questions' in 'The Challenge Rules'.
Teams will receive confidential written feedback on their performance shortly after the presentation event.
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