It can be difficult to engage today’s students in the most important subjects, but the latest from U.S.News & World Report, Why Most High Schoolers Don’t Know How to Manage Their Money, sheds light on the desire for students to learn about personal finance, but that many schools are not providing the opportunities for their students. Read more…
Three times a year the Council for Economic Education releases the CEE Report, highlighting our new and noteworthy events, programs and partnerships, including pilot programs and joint ventures with key supporters.
“We know that education is everything to our children’s future. We know that they will no longer just compete for good jobs with children from Indiana, but children from India and China and all over the world.”
- President Barack Obama
The 12th Annual National Economics Challenge streamed live on Sunday, May 20. Watch the top four teams compete in a rigorous quiz bowl to determine the National Champions in the Adam Smith and David Ricardo divisions!
Finalists Outscored More Than 1,500 Teams in Economics and Current Events Tests
NEW YORK – May 1, 2012 – Student teams from eight high schools will compete as finalists in the National Economics Challenge Finals, May 19-20, hosted by the Council for Economic Education and sponsored by State Farm.
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 eight teams won both state and Semi-Finals competitions in their respective divisions, defeating over 1,500 teams from 33 states to advance to the finals.
Finalists in the Adam Smith Division are:
- Bellaire High School, Bellaire, TX
- Belmont High School, Belmont, MA
- The Harker School, San Jose, CA
- Homewood-Flossmoor, Flossmoor, IL
Finalists in the David Ricardo Division are:
- Carmel High School, Carmel, IN
- Iolani School, Honolulu, HI
- Little Falls Community High School, Little Falls, MN
- Michael E. DeBakey High School, Houston, TX
Teams will compete Saturday, May 19 in three written tests and one critical thinking round to answer questions on complex economic concepts and theories involving micro- and macroeconomics, international economics and current events. The National Economics Challenge Finals culminates in a quiz-bowl round Sunday, May 20 at the WNET Tisch Studios, New York, NY.
“More than 5,760 students participated in this year’s Economics Challenge, and CEE will have the distinct pleasure of welcoming 32 of the country’s brightest to our National Championship this May,” said CEE’s President and CEO, Nan J. Morrison. “Congratulations to all students and their coaches who took part this year.”
About the National Economics Challenge:
The CEE created the National Economics Challenge in 2000 to promote student interest in economics, reinforce classroom instruction, advance academics and school spirit and reward scholarship. In 2012, more than 1,500 teams of high school students participated in 33 states nationwide. The National Economics Challenge is one of several key initiatives in the CEE’s “Campaign for Economic Literacy” which seeks to focus public attention on the importance of economic literacy and the need for a high-quality, standards-based economics curriculum in every state.
About the Council for Economic Education:
The Council for Economic Education is the leading organization in the United States that focuses on the economic and financial education of students from kindergarten through high school. CEE trains educators to teach young people the fourth “R”—a real-world understanding of economics and personal finance—so that they will be able to make informed and responsible choices throughout their lives as consumers, savers, investors, citizens and participants in the global economy. Each year CEE’s programs reach more than 55,000 teachers and approximately 5 million students.
Last Friday I had the opportunity to attend the Governors Challenge in Economics and Personal Finance, held by the Virginia Council on Economic Education on the Campus of Virginia Commonwealth University (VCU) in Richmond, Virginia. This event brought over 130 students and their teachers from across the state to compete in 3 different challenges: two in economics and one in personal finance. It was truly a great event, and the kind of competition that happens across the country at this time of year at CEE’s local affiliates (CEE’s Economics Challenge). The campus is so welcoming and so inspiring for the students; students also had the opportunity to speak to members of the Board of the Virginia State Council on Economic Education – leaders from the business community, the Federal Reserve and the VCU Business School.
The competition – quiz bowl style for economics – case style presentation for personal finance – covered topics as varied as the European debt crisis, budget deficits, trade, investment choice tradeoffs and comparative advantage. No wonder one of their teachers said to me, “The value of these classes is that kids get engaged. They can see that they can use this knowledge to make things happen, and that by graduation they will be globally-literate citizens.”
Here is some of what the participants told me:
The second place team of the David Ricardo Division, Economics Challenge, from Southampton High School, Southampton County – the only team to have only 9th graders (most teams were juniors and seniors) said, “We are so excited because we cannot believe how far we got in our very first competition.” They are inspired and motivated! And they learned, “What to not spend money on!” And from their teacher, “Being in this environment with all of these role models is something these students would not otherwise have – the nearest college campus to them is 50 miles away.”
The first place team of the Adam Smith Division, Economics Challenge was from Thomas Jefferson High School for Science and Technology, Fairfax County. A team member said, “I got interested in economics because you have to understand it to understand politics, social unrest and diplomacy – so we started a club to study it.” His teammates will be studying not just economics, but engineering and other subjects as well at college next year. How great to have globally literate students in every field; how great for our country’s future and competitiveness.
Economic and financial education that is as fun and engaging as it is substantive will ensure that we close gap for these students between what they know, and what they need to know about the real world, and to allow them to be able to see opportunity on their horizon line of their choice, and, ultimately, can grow into successful and productive adults capable of making informed and responsible decisions. That is good for them, their families and their community.