Earlier this term, over 200 of our first-year Business and Economics students took part in an engaging International Trade Simulation delivered in partnership with American Express. The activity challenged students to represent countries with differing levels of resources and economic development, requiring them to manufacture goods, negotiate trade agreements and make strategic decisions to expand GDP and improve the performance of their economies.
The simulation, introduced by Katie Baker, Partnership Manager at American Express was part of our work-related learning programme. Reflecting on the experience, she praised the students’ approach, commenting: “I was thoroughly impressed by the level of soft skills they demonstrated throughout the activity. Their performance not only showcased their subject knowledge but also highlighted their readiness for the real world. Overall, the International Trade Scenario not only enriched their understanding of economic concepts but also fostered the development of vital employability skills. These skills, such as teamwork, negotiation, critical thinking, and ethical considerations, are essential for success in the ever-evolving global landscape.”
Students themselves recognised the value of the experience. Economics student Jeslin reflected: “It was worthwhile because it allowed me to understand how trading can change when demand changes and how scarce resources impact pricing, not purely of the output but also in the prices of inputs that were being traded in order for our economy to produce the shapes we needed to then trade.”
Another student Neill added: “This was a fun task because I used negotiation skills I hadn’t before. It was relevant to what we’re learning in economics and brought it to life after experiencing it ourselves, in action.”
Ben Whittingham, Subject Lead for Business and Economics, emphasised the wider benefits of the event: “Bringing together our Business and Economics students to experience international trade in action reflects our commitment to contextualised learning and preparing young people for future study and employment.”
