FAQs
getting organised
What is the closing date for entries?
How many
teams are taking part in the Challenge?
How many
teams can we enter from our school?
Is the
Challenge only for students studying economics or business studies?
How many
students must we have in our team?
Can we
enter a team with fewer than four students?
Is it
essential to have a reserve team member?
We are
holding an internal competition to select our team and cannot
meet the deadline for registration. What should we do?
Can we
make changes to our team after we have registered the names
of our team members?
When and
where is my regional heat?
What
time is my presentation? When should I have to arrive at the
venue and how long must I stay?
Will
I be able to park at the venue where my heat is being held?
Does
is matter if we unable to stay until the end of our heat?
Can I
bring other students and guests to the heats?
Due to
unforeseen events, we are no longer able to take part. How do
I let you know that we are withdrawing from this year’s
Challenge?
taking part
What
is the aim of the Challenge?
What
am I expected to do?
What
MPC rate should we take as the basis for our decision?
Do we
have to reach agreement about the interest rate?
Can we
ask others to help us with our preparation and research?
Can we
have help at the presentation event?
How long
do we have for our presentation?
Can our
presentation be shorter than 15 minutes?
What
format should we use for our presentation?
What
version of PowerPoint should we use?
Do we
have to memorise our presentation or can we use notes?
How important
are the judges’ questions?
What type of questions are the judges likely to ask?
Can we
confer over our answers and does it matter which team member
answers the questions?
What
criteria will the judges use to assess our performance?
Where
can I find the rules of the Challenge, particularly those relating
to presentations, reading verbatim from script and answering
the judges’ questions?
Where
can we find more information about how to approach our task?
I have
a question which is not answered here. Where can I get help?
getting organised
What is the closing date for entries?
The closing date for entries is 2 July 2007. Entry details
How many teams are taking part in the Challenge?
A list of participants can be found under News
- Participants.
How many teams can we enter from our
school?
Each school or college can enter only one team. The Challenge
is popular and we have a waiting list for places. The
Challenge – the teams.
Is the Challenge only for students
studying economics or business studies?
Although the Challenge will probably appeal mainly to students
of economics and business, students studying any subject can
take part. The
Challenge – the teams.
How many students must we have in our
team?
Each team must consist of four students. The composition of
the team and the way in which the team members are chosen is
entirely up to teachers and students. The
Challenge – the teams.
Can we enter a team with fewer than
four students?
You must have four students in your team. In order to ensure
fairness all teams need to have the same number of team members.
The
Challenge Rules – teams.
Is it essential to have a reserve team
member?
You are strongly advised to have a reserve in case one of your
team members has to withdraw. The team that makes the presentation
to the judges must consist of four students. The
Challenge Rules – teams.
We are holding an internal competition
to select our team and cannot meet the deadline for registration.
What should we do?
If you are unable to tell us the names of your team members
immediately – because, for example, you intend to hold
an intra-class challenge to select your team – please
contact us by 25th September to confirm your place in the regional
heats and agree a new date for registering your team.
Can we make changes to our team after
we have registered the names of our team members?
Team membership should not change during the competition except
in exceptional circumstances and with the prior agreement of
the Bank. The
Challenge Rules – teams and Contact
us.
When and where is my regional heat?
You will receive a letter containing this information as soon
as possible after 25th September, when all entries have been
confirmed. If you have not received this information by 5th
October, please Contact
us.
Details of your regional heat can also be found on the website
under News
- Dates and venues.
What time is my presentation? When
should I have to arrive at the venue and how long must I stay?
We will send you details about the arrangements for the day
in due course.
Will I be able to park at the venue
where my heat is being held?
The parking arrangements are different for each venue. You will
receive a letter from us with the name, address and telephone
number and a map for the venue where your heat will be held.
If you intend travelling by car or school bus, we recommend
that you contact the venue to ask about the parking facilities.
Does is matter if we unable to stay
until the end of our heat?
We realise that it is a particularly busy time of year and that
you may prefer to come only for the morning or the afternoon
or for your presentation slot. We will notify the winners and
runners-up if they are not present at the end of the event to
hear the results, which will also be posted on the Target Two
Point Zero website at the end of the event.
Can I bring other students and guests
to the heats?
You may bring guests to your heat. We will contact you about
nearer the time.
Due to unforeseen events, we are no
longer able to take part. How do I let you know that we are
withdrawing from this year’s Challenge?
If at any stage you wish to withdraw, please inform us at the
earliest opportunity. You can telephone or fax us on the numbers
shown above or e-mail us at targettwopointzero@bankofengland.co.uk.
You can also use the “Withdrawal Form”. Contact
us.
taking part
What is the aim of the Challenge?
Your team has to assess the state of the economy and the outlook
for inflation and decide what level of interest rate you would
set to achieve the Government's inflation target of 2.0%. The
Challenge - What the Challenge involves - the task.
What am I expected to do?
You must decide whether or not to change the interest rate from
the rate set by the Monetary Policy Committee (MPC) and if so
whether to increase it or decrease it, and by how much. There
is no right or wrong answer. It is a matter of judgement. Having
made your decision, you must prepare and give a short presentation
to a panel of judges arguing the case for your decision. The
judges will then ask you some questions.
The
Challenge - What the Challenge involves - the task.
What MPC rate should we take as the
basis for our decision?
Your recommendation to put rates up, or down, or keep them the
same is in relation to the rate set by the MPC at the meeting
prior to the team making its presentation to the judges. The
Challenge - What the Challenge involves - the task.
Do we have to reach agreement about
the interest rate?
No. But differences of opinion must be explained. The
Challenge - What the Challenge involves - the decision.
Can we ask others to help us with
our preparation and research?
You can ask for as much assistance as you want with your research
and preparation. The
Challenge - What the Challenge involves - the task.
Can we have help at the presentation
event?
You can have assistance setting up your presentation equipment
at the presentation event. We also provide technical support.
But when you make your presentation to the judges and when you
answer the judges' questions you must not have any help. The
four team members must operate the presentation equipment themselves
during their presentation. The
Challenge - What the Challenge involves - the task.
How long do we have for our presentation?
Your presentation should be no more than 15 minutes and each
member of the team must make a significant oral contribution
to the presentation. If your presentation overruns you will
be marked down by the judges. The
Challenge - The Challenge rules.
Can our presentation be shorter than
15 minutes?
Your presentation can be shorter than 15 minutes. But an overly
short presentation might not give you sufficient time to cover
enough to demonstrate your understanding of the issues and develop
your arguments.
What format should we use for our
presentation?
Your presentation can be in any format in the regional heats
and area finals. You must use PowerPoint in the national final.
Your
Presentation - Delivering your presentation - equipment.
What version of PowerPoint should
we use?
Presentations must be Microsoft PowerPoint 2000 compatible.
They should be stored on USB memory stick, CD or disk but the
data should not be compressed ie no zip files. Your
Presentation - Delivering your presentation - equipment.
Do we have to memorise our presentation
or can we use notes?
You may refer to hand-held notes and to your visual aids but
you should not read verbatim from scripts, laptop screens or
visual aids. Verbatim reading from scripts, laptop screens or
visual aids or exceptionally heavy reliance on notes does not
automatically disqualify you from winning but you will be marked
down by the judges. The
Challenge - The Challenge rules.
How important are the judges’
questions?
Be prepared for questions from the judges. The questions are
important because they enable the judges to find out how well
you understand your material and how well you can defend your
decision. The
Challenge - What the Challenge involves - judges' questions.
What type of questions are the judges
likely to ask?
The questions will be of relevance to your task and your presentation.
You might be asked about what you said, or perhaps about things
you did not cover, during your presentation.
The
Challenge - What the Challenge involves - judges' questions.
Can we confer over our answers and
does it matter which team member answers the questions?
Team members can confer. It is up to the team to decide who
should give the answer. The key point is that you should work
together as a team when answering questions. Answers should
not be dominated by one or two members. The
Challenge - What the Challenge involves - judges' questions.
What criteria will the judges use
to assess our performance?
The
Challenge - Judging - judging criteria.
Where can I find the rules of the
Challenge, particularly those relating to presentations, reading
verbatim from script and answering the judges’ questions?
The
Challenge - The Challenge Rules.
Where can we find more information
about how to approach our task?
Inflation
outlook discusses how teams might think about their assessment
of economic conditions and the inflation outlook, building on
the material covered in other sections.
Your
Presentation gives you guidance on developing
your presentation and delivering
your presentation based on what seemed to work well in last
year's Challenge.
I have a question which is not answered
here. Where can I get help?
Contact
us.
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