The Bank of England is supporting a new initiative to increase the number of economics teachers in state schools across England, focusing particularly on the north-west region. This is in response to a report which showed a significant disparity in economics education between students from advantaged and disadvantaged backgrounds.
The scheme aims to tackle a severe teacher shortage in state schools. The report highlighted that only slightly more than half of non-selective state schools offer A-level economics, compared to much higher percentages in selective and private schools.
Students from disadvantaged backgrounds, defined as those who received free school meals, were found to be significantly less likely to study economics than their more privileged peers. This inequality is being addressed through teacher training programs to better equip educators to teach A-level economics.
The three-year program will initially train 25 teachers in the north-west of England and expand to 50 teachers in Yorkshire and the north-east the following year. The choice of the north-west is explained by its lower rates of economics education, compared to other regions like London.
The report also reveals gender and ethnic disparities in the study of economics. Around 70% of economics students at both school and university levels are male, with students from Asian backgrounds being overrepresented compared to white British students.
The initiative receives financial support from the Bank of England, in collaboration with the University of Manchester, which aims to encourage more female participation in economics education and careers.
The initiative is expected to increase access to economics education, thereby positively affecting the life chances of many young people and reducing existing inequalities. The support shown by organizations such as the Economics, Business and Enterprise Association suggests that the initiative is a welcome and much-needed addition to the education system.