A programme has been launched to increase the number of economics teachers as analysis shows extreme differences in take-up of the subject in different parts of the country.
A report by FFT Education Datalab for the Bank of England shows that 43 per cent of those taking economics at GCSE went to school in London, compared with just 1 per cent in the North East.
At A level, 29 per cent of economics students were based in London, compared with 2 per cent in the North East.
The Bank of England and the University of Manchester have now announced a partnership offering existing teachers the chance to train to deliver A-level economics alongside their core subject.
The three-year programme, which will be piloted in the North West of England before being rolled out more widely, aims to make the subject more accessible to students from a wider range of backgrounds.
The training will be made available at no cost to teachers or schools. The initial target is to recruit 25 teachers from within Greater Manchester in year one, 50 regionally in year one and 100 nationally in year three, although the programme will be guided by demand, a spokesperson for the University of Manchester told Tes.
Economics uptake varies by sector
The two organisations said that economics is offered as an A-level subject at just over half of non-selective state schools in England, compared with 90 per cent of selective schools and 82 per cent of independent schools.
They added that this partly reflects a shortage of qualified economics teachers, made worse by very low levels of new teachers choosing to specialise in the subject.
The FFT Education Datalab report highlights stark regional variations in take-up of the subject at both GCSE and A level.
In a , FFT statistician Natasha Plaister said that differences in regional take-up of the subject can be explained by the demography of students in different parts of the country.
She added: “Economics A level tends to be more popular among students in independent schools: 21 per cent of A-level students who went to an independent school took the subject in 2023, compared to 11 per cent of those from non-selective state schools.
“And the regions with high proportions of students taking A-level economics also tend to be those with a high proportion of students from independent schools.”
Disadvantaged students less likely to take economics
The FFT report also finds that disadvantaged students are less likely to choose to study economics than their peers, particularly at GCSE.
The analysis shows that around 70 per cent of those studying economics at school and undergraduate level are male.
It also shows that, at every level, students from Asian ethnic backgrounds other than Pakistani were most likely to take economics. White British students, despite being among the least likely to take economics, were consistently the largest group in economics cohorts, because they made up the majority of students in England.
Clare Lombardelli, deputy governor for monetary policy at the Bank of England, said: “Economics is an increasingly popular subject. But it is not available to enough young people across a range of backgrounds.
“An economics qualification can be a gateway for young people to a highly rewarding career - both intellectually and professionally. It also gives people a better understanding of how money works, which is a vital life skill that can benefit all of us.”
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