The Adventures of the Olympic Gold Medal

Thursday 3rd November 2016

Throughout the week of the 31 October to 4 November, Queen Anne’s has had the privilege of housing the latest gold medal of three time Olympic Champion, Andrew Triggs Hodge.

To find out about the adventures of the gold medal and its time with the Queen Anne’s community, please read below.

Tuesday 1 November

“On Tuesday evening, Andrew Triggs Hodge’s Olympic Gold found its way to Mander Court Residential Home during the Wilkins family and Duke of Edinburgh volunteers weekly visit.  All the residents had the opportunity to hold the medal which they were very excited about and they all passed comment that it was a lot heavier than they thought it would be.  Some of them knew who Andrew was and had watched the victorious eight cross the finishing line in Rio back in the summer which made it even more interesting for them to see the medal up close.”

Mander Court

Wednesday 2 November

Mrs Chivers’ L4 Chemistry group brought the medal to one of the IT rooms to conduct some research into “why is gold the best choice for a medal that you want to stay shiny and last forever?” I’m sure Andrew would agree, whatever the reason, it certainly stays shiny despite all the people asking to hold it.

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L6 Economics

Our L6 Economics group looked at the impacts of the Rio Olympics on the Brazilian economy

The value of aggregate demand consists of the following components: Consumption + Investment + Government spending + (Exports-Imports)

Although Brazil seemed to fare worse than almost any other major economy, there was a significant increase in tourism. This in turn led to an increase in consumption because of the half a million people who visited Brazil over the course of the games even though $15 billion was needed initially to invest in the infrastructure to host the Olympics. The increase in tourism led to an increase in crime and theft rates, affecting not only tourists but the Brazilian locals. The increase in government spending caused controversy because, at the time, Brazil was struggling to pay wages for its local doctors and teachers and Brazil was left with $1 billion in debt. This has caused an increase in unemployment. The deficit in the government budget meant that there were issues with the standard of the games; swimming pool discolouration and shortages of food stalls for visitors, putting people off since they had paid so much to experience the life at the Olympics, leading to poor ticket sales and empty stadiums. There was an increase in investment in the infrastructure and provision of services which reduced seasonal and demand deficient unemployment but due to these only being seasonal, the unemployment figures resumed to similar pre-Olympic unemployment figures.

However the $15 billion that was invested into the Games has not all been lost because many of the landmarks that were built can be used as sustainable tourist attractions, creating jobs and revenue for Brazil in the future. There was an increase in export revenue which proved beneficial to the country’s economy. Another problem Brazil was faced with was the volunteering system which included funding shortfalls and a lack of commitment by some of the volunteers who had signed up to help. It was estimated that 5%-10% of the people who volunteered did not show up, which stressed out those who did turn up. There was also a huge security presence hired to protect spectators. The income inequality between International Olympic Committee executives (earning around £700 a day) and the earnings of cleaners (earning around £10 a day) in the Olympic village caused outrage amongst the people of Brazil.

Written by Kirsty & Ekua (L6)