The Economics of Attendance: The key to examination success?

In the bustling world of academics where examinations, assignments, homework and extracurricular activities all clamour for your time and attention, it’s easy to underestimate the power of a seemingly simple act: showing up. A dig into the research has led me to believe that there is so much more to the relationship between attendance and academic achievement than the obvious and strong positive correlation we often talk about here in GIS.

A full class!

Where IGCSE and A-level subject results are concerned, it seems that attendance is way more than just a formality; it's a strategic investment with very tangible returns. Plenty of studies point towards this; a recent UK government blog post called "Why is school attendance so important and what are the risks of missing a day?" is very clear in its answer: attendance is paramount and the risks of missing a day are high!

Every day at school is crucial and missed days can accumulate rapidly according to the article, which illustrates this showing a Year 10 absent for three days in a half term could be missing up to 15 lessons; that would equate to 12 lessons at GIS and would be deemed a considerable chunk of time to miss! The post goes on to explain that a student's attendance significantly impacts their learning and performance in exams and formal assessments, citing plenty of research data to back up its claims.

As an economics teacher, I can't help but look at attendance through the lens of an economist, and I find it quite useful to do so. Clearly, attending school has a massive ROI! Here are 5 ways an economist might look at school attendance:

1. Maximising Educational Investment

Education is an investment, and like any investment, it requires commitment and dedication. Attending classes regularly ensures that you will make the most of the resources available to you. Every lesson, discussion and interaction with teachers and peers contributes to your intellectual growth, enhancing the value of your educational investment.

Furthermore, I feel it is important to address the elephant in the room nice and early in this post - the investment when attending a world-class, fee-paying school is more than just your time. Fees are not cheap and every second spent out of lessons is essentially wasting a proportion of your parents' investment in you. Therefore students, when your parents invest in your education, maximising attendance is crucial for their ROI. By recognising the value of every moment spent in the classroom, you can ensure that the investment yields the highest possible educational and economic returns in the long run!

2. Opportunity Cost of Missed Classes

As any economist worth their salt will tell you, every choice made involves an opportunity cost - these being the benefits you forgo by choosing one option over another. So, when you do not attend school, you not only miss the knowledge imparted that day but also the chance to participate in discussions, ask questions and clarify any doubts. These missed opportunities can have a significant impact on your understanding of the subject, potentially affecting your exam performance...and let's think competitively for a moment: those in the room are capitalising on this knowledge that you are forgoing. Is there any wonder that the highest on average attendees consistently outperform those with lower attendance, as shown in the graph below?



Graph showing average IGCSE results against attendance across 5 years at GIS

3. Enhancing Human Capital

Human capital refers to the knowledge, skills and abilities that individuals possess. Regular attendance helps you build and enhance your human capital. Attending classes consistently allows you to grasp complex topics, develop critical thinking skills and engage in collaborative learning, all of which are essential for excelling in examinations. As you will know from our units on labour markets, higher levels of human capital directly correlate to higher earnings because of:

• Increased productivity
• Higher demand in the labour market
• Increased entrepreneurial abilities
• More negotiating power
• Career advancement

...I could go on, but I think it's time for point 4...

4. Strengthening Social Capital

In a multicultural environment like our school, attending classes fosters social interactions and cultural exchanges. Engaging with classmates from diverse backgrounds not only enriches your learning experience but also strengthens your social capital. Networking and forming study groups can provide valuable support systems, enhancing your academic performance through collaborative learning. It is not just the classroom where you can strengthen social capital. Tutor time, break and lunch offer social opportunities, the library and sixth form centres provide places to find like-minded individuals and the many support sessions and CCAs on offer mean there are so many ways to build and strengthen relationships and opportunities to contribute to enhancing your networking and social skills.

5. Examining the Long-Term Benefits

Consider attendance as a long-term investment. Your consistent presence in class builds a strong foundation for your future academic and professional endeavours. The discipline and work ethic developed through regular attendance are qualities highly valued by universities and employers alike, giving you a competitive edge in the global job market. In conclusion, attending classes is not just a routine; it's a strategic decision that can shape your academic and professional future...And remember, as someone who writes many references and is involved in recruiting for our school, an incredibly important metric is whether the individual in question is someone who shows up on time! No one wants to hire someone with a track record of poor attendance and punctuality.

So, by recognising the economic principles at play: maximising investment, understanding opportunity cost, enhancing human and social capital, and considering long-term benefits, you can make informed choices that will positively impact your IGCSE and A-Level performance. Remember, your education is a partnership between you, your teachers, your parents and your peers. Active participation through regular attendance strengthens this partnership, ensuring a prosperous academic journey...so make sure you show up!

References and further reading:

Mediaofficer (2023) Why is school attendance so important and what are the risks of missing a day? The Education Hub. Available at: https://educationhub.blog.gov.uk/2023/05/18/school-attendance-important-risks-missing-day/ (Accessed: 10 October 2023).