On Wednesday 17 October a group of 20 first and second year A Level Accounting students visited Lancaster University’s Management School. The visit gave students an insight into the finance related degree courses on offer at Lancaster University and to get a taste of what it is like to study at one of the UK’s leading finance research universities.
After a tour of the campus and the halls of residences students were treated to a class with Professor Mark Shackleton. Professor Shackleton demonstrated to students how market prices are set in the “trading pits” for a range of commodities like barrels of oil, coffee and wheat. Click here to get a feel for what a “trading pit” looks like.
After a tour of the campus and the halls of residences students were treated to a class with Professor Mark Shackleton. Professor Shackleton demonstrated to students how market prices are set in the “trading pits” for a range of commodities like barrels of oil, coffee and wheat. Click here to get a feel for what a “trading pit” looks like.
Pretty frantic! Did you notice how the traders use a range of hand signals to say whether they are selling or buying? Palms out, “I’m Selling”, fists clenched “I’m buying”. Here is another link that should give you a good feel for what’s going on.
Students were given a virtual £10,000 with which to bid to buy (and then sell) bottles filled with pennies. The catch is you don’t know how many pennies are in the bottles. This link shows the trading game in action in a previous session.
Well done to first year NULC student Rob Fellowes who won the game with the most cash and bottles at the end. Rob was closely followed Humad Khan, Rob Walker and Rory Morton as runners up.
Richard Simpson, Accounting Lecturer at NULC said: “This was a brilliant way to show students what studying at a leading University might be like. Hopefully it will really inspire our students to really aim high.”
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