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The rise of economics in British schools has made a difference in the lasting gender gap among young people pursuing the subject, which shows that boys remain twice as likely to study it at A-level or at university, according to a study by the Bank of England.
The number of students sitting in A-level economics increased from 23,267 in 2012 to 37,251 in 2023. This has made it the eighth most popular theme, with an 80% increase.
This expansion helped to reduce the gap in the provision between private schools and state-funded schools. Private school students are overrated, but currently account for 21% of A-level participants, starting from 30% in 2012.
However, there was no change over time in the 70-30 division between boys and girls choosing subjects in studies at all levels from GCSE to university courses.
“It appears we haven’t shifted the dial,” said Carly Sandy, BOE’s Education Programme Advisor, in a program that partners with the University of Manchester in a program that trains existing teachers in other subjects to provide A-level economics classes.
The three-year programme will initially be held in northwest England, with 25 locations open to qualified teachers from state-funded schools, and will expand to provide 100 locations across the UK in their third year.
Economics also continues to be much more popular in London and Southeast England than elsewhere in the country. Students from Indian, African and Chinese backgrounds are more likely to study than students from white British backgrounds, Bo said Wednesday.
As economic degrees provide some of the finest financial benefits of any subject, the imbalance in the flow of young people to the profession plagues policymakers, and economic research supports important policy decisions without the author necessarily representing society.
Women are now more prominent at the top of the profession, including the BOE Monetary Policy Committee, where five of the nine members are currently female.
However, the central bank is still behind its internal goals due to gender balance and ethnic minority representation in new appointments at most senior levels.
Separate studies by Discover Economics, a campaign led by UK-based academics, found that girls postponed studying subjects at the A level by perceptions that they were “on money and data analysis” related to mathematics dominated by “smart, opinionated and competitive” boys and purely a financial career route.
However, BOE officials say that, given the lack of addressing these perceptions, and also teaching existing teachers or new entrants seeking specialization in the subject, they need to equip more schools to provide economics.
Economics is currently offered at A-level in more than half of UK non-selective state schools, compared to 90% of elective schools and 82% of private schools. “We need to increase our supply,” Sandy said.
