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Posted: Thursday 27 January 2011

Parents and Friends of Hutchesons': Your help is requested for the S6 Economics Survey - Feb 2011

Bank of England 2.0 CompetitionTo prepare for the their upcoming presentation to the Bank of England in the second round of the Target 2.0 competition, our group of S6 Economists would like some help in collecting field research on financial confidence.

We would appreciate your help with this between 11 and 25 February.

PLEASE ACCESS THE SURVEY HERE!

The two key purposes of this data collection are:

•1. To engage in and experience field research techniques

•2. To collect evidence of a possible divergence between what is happening in the real economy and what economic statistics might be telling us.

It is hoped, with your help, that the boys can gather a significant sample which they can process and use in their presentation.

We will use a very simple data collection technique gleaned from a Canadian model  and all submissions will, of course, be completely anonymous.

You can follow the progress of the group, including the results of this survey, on this website, as they prepare for the event which will take place on Tuesday 1 March in Manchester.

http://www.bankofengland.co.uk/education/targettwopointzero/index.htm

You can find below a guide to the respondent and why we are asking these questions.

Question Guide:

Question 1: Age profile will be important in determining whether there might be a difference in attitude or expectations according to age e.g. younger and older respondents being more negative potentially about their prospects.

Question 2: Gender can have a significant impact on responses. Furthermore, it would be good to know whether there is a bias here in the numbers of respondents in each category.

Question 3: Type of household might have a bearing on the results e.g. double income households might prove to be more resilient.

Question 4: Job status is an important aspect e.g. there is now a lot of reliance on the private sector to drive the economy - do we see this reflected in the attitudes of the self employed for instance?

Question 5: Location has been added to give us a perspective of any difference between urban, suburban, national and potentially international respondents. It will give us a guide as to whether we have a good spread of respondents.

Question 6: This question wants to know how you feel, financially, at this time compared with 6 months ago. This is about your personal financial position.

Question 7: Here we are looking to gauge your expectations concerning your personal financial situation in the next six months

Question 8: This question is broader in that it asks about your expectations of the general job situation which will be clouded by your own personal experience but not totally dominated. It is a gauge on the sentiments within households.

Question 9: Finally, a broad question which looks at overall sentiment and empathy with the general state of households in the economy.

Tags: Economics & Business Studies

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