Teaching Monetary Policy

On the agenda for July's EconEdChat were 3 questions:

1) How are we approaching teaching for Year 13 next year?

Do teachers feel that current Year 12s are where they would normally expect students to be at this stage? Are teachers making any changes next year in light of this?

2) How can we improve essay writing in Economics?

How can we improve essay-writing across the ability spectrum? Do writing frames help or hinder? What individual skills do we need to teach to help students produce better essays?

3) Topic in Focus: How can we best teach Monetary Policy?

How do teachers introduce the topic? What elements of Monetary Policy do we teach, in what order and why? What misconceptions do students commonly hold about this topic?

This post focusses on the third question. You can find info on the first here and the second here.

References and Resources

In response to Andrew's point about using historical background to talk about interest rates, I mentioned 'hinterlands'. This is a term coined in an educational context by (I believe) Christine Counsell. I think this blog post by Adam Boxer, albeit in the context of chemistry education, explains the idea well.

Resource-wise, I like some of the WJEC resources on Monetary Policy. The Bank of England has some nice explainers aimed at A-Level students that you might want to check out.

I think that's everything we referenced, but if we talk about something in the video and it's not clear, let me know and I'll add extra references!

Econ Ed Chat takes place the first Wednesday of the month at 6pm BST. All welcome.