What makes an economy work well and how can it improve people’s lives? Our Year 12 A Level Economics students recently explored these questions in a lively ‘Dragon’s Den: Economy Edition’ challenge, bringing economic theory to life through teamwork, persuasive pitches and thoughtful debate.
Each team was allocated a planned, free market or mixed economy. Their task was to convince the Dragons their classmates that their system offered the best approach to improving economic performance and living standards.
With students familiar with Dragons’ Den, Shark Tank or their own country’s equivalent, the format offered an engaging way to explore different economic systems. It also challenged them to build a convincing case for an idea, even if it was not one they personally supported.
Preparing for the Pitch
Students researched the key features of their allocated system and developed evidence-based arguments, exploring issues including growth, productivity, inequality, resource allocation and market failure.
Preparing a strong pitch was only part of the challenge. Teams also had to consider where their arguments might be questioned and prepare to respond. This encouraged students to look beyond their own position, evaluate competing perspectives and think carefully about the strengths and limitations of each system.
Steve Grimes, Curriculum Director of Social Sciences, highlighted this as a particularly impressive part of the activity:
“The best part was that they tried to anticipate how the other two groups would challenge their arguments and had answers ready.”
Confidence, Collaboration and Critical Thinking
The students approached the challenge with enthusiasm, delivering professional presentations and contributing confidently to the discussion. Every group put forward strong arguments, demonstrating teamwork and analytical skill as they defended their ideas and responded to alternative viewpoints.
The quality of the debate reflected their willingness to engage with complex questions. Rather than simply describing how an economic system works, students had to explain why it might deliver better outcomes and assess the trade-offs involved.
Bringing Economics to Life
The challenge gave our young economists an opportunity to apply their learning to questions that shape the world around them. Alongside strengthening their subject knowledge, they practised the communication, evaluation and problem-solving skills that support success in examinations, at university and beyond.
And the winning team? As Steve put it: “They were ALL winners.”
With thoughtful arguments, confident contributions and a willingness to challenge ideas, our Year 12 students showed the curiosity and independent thinking we encourage at Guildhouse.
