open up the recruitment process more generally. over 90 % of these sessions are held at state schools, reaching 1000 students last year alone. we now recruit at 40 universities across the country ( four times as many as a decade ago ). last year, two fifths of our graduate intake was female, a quarter came from a bame background and a tenth from lower socio - economic groups. conclusion one of the things economists like to focus on is return on investment. for the modest investment the bank has made to develop econome - £80, 000 - we hope to reach over 100, 000 young people directly by 2020, with a multiplier effect through word of mouth and social media. and we know that our efforts will complement and reinforce those of taechfirst, nowteach, young citizens, speakers for schools, the social mobility foundation and many other initiatives that are improving mathematical and financial literacy and inspiring students to broaden their horizons. we know our contribution depends on the support of teachers and influencers. that ’ s why we ’ re so grateful for your help in informing, educating and inspiring your students. this includes career ready, the stephen lawrence scholarship scheme, reading partners, number partners and chess partners where bank staff volunteer to help children in local primary schools, as well as assist secondary school pupils with cv writing and interview preparation. all speeches are available online at www. bankofengland. co. uk / speeches

banks are not often associated with the words “ positive ”, “ appreciated ” and “ inspiring ” so you can imagine how invigorated our ambassadors are when they hear them. they ’ ve also been challenged with the length and quality of the questions they have had to face from some students who appear to be candidates for future treasury select committee membership. our third reason for creating an education strategy is to inspire economists of the future and thereby improve diversity in finance, business and economics. we hope to convince young people of the value of studying economics. we may be a bit biased but we know it ’ s a fascinating subject and one that teaches skills that can open doors to a huge range of rewarding careers. and it ’ s achievable. as keynes observed “ the study of economics does not seem to require any specialised gifts of an unusually high order. ” yet, economists are still a rare breed. last year, less than 0. 1 % of all gcse students and 4 % of a - level students studied economics. part of the problem is that because of its unfamiliarity, economics can seem unappealing. the royal economics society suggests people ’ s lack of enthusiasm for the dismal science is based on a narrow ( and dry ) perception of the subject and its masters. as you might expect, i disagree. and so do most students, once we meet them. they are usually surprised by the breadth of topics that economists consider. for example, colleagues are currently working on issues such as the impact of artificial intelligence on the future of work, the role of the financial system in combatting climate change, and the value of diversity in decision making. a quick visit to our bank underground blog will reveal articles on the impact of mental health, crypto currencies and driverless cars on jobs, growth, inflation and wellbeing. a more disturbing impediment to the study of economics is the imposter syndrome. there is a perception that economics is “ not for people like me ” not least because the profession lacks diverse role models. and this challenge is reinforced by the limited opportunities available for students to study economics. joint council for qualifications, 2017 gcse and a - level results, available at : https : / / www. jcq. org. uk / examinationresults / gcses / 2017 / gcse - full - course - results - summer - 2017 / gcse - full - course - results -