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Nation’s Top High School Students Vie for Championship in National Economics Challenge in NYC

Eight Finalist Teams Compete for Championship, Chance to Ring NYSE Closing Bell

Not too many adults know the difference between an IRA and a 401k, let alone Keynesian and Monetarist theories. But eight high school teams nailed these and other brainbusters to compete in the final rounds of the 14th Annual National Economics Challenge. This year’s winners have outpaced over 10,500 students to vie for more than just the championship: the victors will also ring the closing bell on the New York Stock Exchange!

The National Economics Challenge, hosted by the Council for Economic Education, applies the excitement of an athletic competition to academic excellence. Competitions are held at the State, National Semi-Final, and National Final levels in two divisions: the Adam Smith Division (for advanced placement, international baccalaureate and honors students) and the David Ricardo Division (for students who have only taken a single semester economics course). Topics covered include micro- and macro-economic priorities, international and current events.

The finals, held May 18-19 in New York City, include written exams, a critical thinking round and culminate in a “quiz-bowl” round held at WNET Studios at Lincoln Center. The quiz bowl will be co-hosted by CNBC Senior Economics Reporter Steve Liesman, and will also include special guest video questions from Janet Yellen, the Chair of the Board of Governors of the Federal Reserve.

The winners not only take home the trophy, they depart immediately from the studio to the floor of the New York Stock Exchange to ring the closing bell!

Watch the final round of the competition live on Monday, May 19th at 1 PM at WNET Studios at Lincoln Center in Manhattan by tuning into our Facebook page www.facebook.com/councilforeconed.

ADAM SMITH DIVISION

Bellaire High School/Bellaire, Texas

Carmel High School/Carmel, Indiana

Iolani School/Honolulu, Hawaii

Grissom High School/Huntsville, Alabama

 

DAVID RICARDO DIVISION

Little Falls Community High School/Little Falls, Minnesota

Carmel High School/Carmel, Indiana

Hunter College High School/New York, New York

Souderton Area High School/Souderton, Pennsylvania

For more information visit www.councilforeconed.org/econchallenge.

 

POSTED: April 22, 2014 | BY: Morgan Hoey | TAGS: ,

Meet the 2014 National Economics Challenge Finalists

Eight high school teams have earned a trip to New York City to compete for cash prizes and academic recognition in the 14th Annual National Economics Challenge. The eight teams won both state and Semi-Finals competitions in their respective divisions, defeating students from 40 states to advance to the Finals. The Challenge offers students two levels of competition on the basis of their course enrollment. Students enrolled in advanced placement, international baccalaureate and honors economics courses entered the Adam Smith Division, and students enrolled in single semester general economics classes competed in the David Ricardo Division. The Finalist teams are:

ADAM SMITH DIVISION (AP, IB and honors students)
Bellaire High School/Bellaire, Texas
Carmel High School/Carmel, Indiana
Iolani School/Honolulu, Hawaii
Grissom High School/Huntsville, Alabama

DAVID RICARDO DIVISION (single semester general economics students)
Little Falls Community High School/Little Falls, Minnesota
Carmel High School/Carmel, Indiana
Hunter College High School/New York, New York
Souderton Area High School/Souderton, Pennsylvania

The finals, held May 18–19 in New York City, include written exams, a critical thinking round and culminate in a “quiz-bowl” round. The quiz bowl will be co-hosted by CNBC Senior Economics Reporter Steve Liesman, and will also include special guest video questions from Janet Yellen, the Chair of the Board of Governors of the Federal Reserve. Watch the final round of the competition live on Monday, May 19th at 1 PM at WNET Studios at Lincoln Center in Manhattan by tuning into our Facebook page at www.facebook.com/councilforeconed.

POSTED: April 22, 2014 | BY: Morgan Hoey | TAGS:

Financial Literacy: Its Importance in the (Woman’s) Future

April 22 150x150 Financial Literacy: Its Importance in the (Woman’s) Future

By Kathleen Brennan, 2013 Alfred P. Sloan Foundation Teaching Champion Award recipient.

It goes without saying that today’s females have career opportunities that weren’t available to them a century ago.  The statistics are impressive– according to the U.S. Bureau of Census, females make up 60% of college graduates and the Bureau of Labor Statistics reports that labor participation rates of females have increased from 32% in 1950 to about 57% in 2012. Women have come a long way. The good news is that women have made great strides in breaking the glass ceiling and closing the pay gap; the bad news is that they still lag well behind men in terms of financial literacy. Ignorance in financial matters is particularly concerning since women have unique financial challenges—while many women rely on their husbands “to handle the money”,  the reality is that 90% of women will be solely responsible for their finances at some point in their lives due to the death of a spouse or divorce (Gender Gap in Financial Literacy 2012). Clearly, a man cannot be a “financial plan”. Read more…

POSTED: April 22, 2014 | BY: Annamarie Cerreta | TAGS: , , , , , , , , , ,

Saving the Young: A Tale of Financial Literacy

April 19 150x150 Saving the Young: A Tale of Financial LiteracyBy Lihi Yusufov

For 16 years, I have had the privilege of being surrounded by financially literate people. My parents know how to handle their finances, and of course, make sure I do too.  My family carries an entrepreneurial spirit through owning a couple of businesses and starting their own ventures. Because of this, I gained a business perspective when venturing through life. I have worked in various fields and noticed that with every field comes a certain expectation of financial literacy. When I interned at a law office, I realized how pertinent finance was in this industry. Without financial mastery, the business would be incapable of sustaining itself. I became aware of this at an early age in my life. However, I noticed that many Americans still struggle with financial literacy. Read more…

POSTED: April 21, 2014 | BY: Annamarie Cerreta | TAGS: , , , , , , , , , , , , ,

The Importance of Financial Education

April 18 751x1024 The Importance of Financial Education

By Senator Josh Stein, 16th District of North Carolina Senator.

Financial Literacy is critically important to the health of our nation and our state. If anyone ever doubted that statement, just consider our current economic situation.

We are in the midst of a slow recovery from the Great Recession created by the financial crisis, which was a result of financial markets that were out of whack and borrowers not understanding what they were getting themselves into. Read more…

POSTED: April 18, 2014 | BY: Annamarie Cerreta | TAGS: , , , , , ,

The Necessity of Financial Education

April 17 150x150 The Necessity of Financial Education

By Richard Fisher, President & CEO of the Federal Reserve Bank of Dallas.

I am excited to express my support of Financial Literacy Month, an extremely important effort. Learning to make sound financial decisions is a skill that positively impacts people throughout their lives. I commend all of the educational institutions and non-profits that spend countless time and energy providing financial education. Read more…

POSTED: April 17, 2014 | BY: Annamarie Cerreta | TAGS: , , , , , , ,

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